Professional · Philadelphia, PA · Member since 2015 · 47 posts · 31 votes
I was looking at a property that seemed too good to be true from a wholesaler. Can it be a scam? Has anyone ever had a bad experience dealing with wholesalers or are their deals always very good?
100% in total agreement with James, most wholesalers exaggerate ARV and underestimate the repair costs. Be very clear what your goals are, rental or flips (expected profit margins). I personally dealt with a high volume wholesaler in the area, most tend not to be very transparent and you will get hit with unexpected costs. Once you sign up with them, you will notice the lack of motivation to help, and it seems you become a bother to them. Please understand all costs involved, as Brandon always says " Do the math "
I have an agreement with a wholeseller that I get first eyes on the property before he lists it. I have to do my due dillegence obviously. If I don't like it, no harm, he just lists it anyway for someone else.