How to find a good wholesaler

[Omar Sprandel]

Hi Guys/Gals,

I keep running into the same problem here in the Twin Cities of MN. We are rehabbers in the area and keep having trouble finding a good wholesaler. The issues we run into all the time are:

1. Inflated ARVs and deflated rehab costs

2. Deals that are marketed as a "private" deal, but then come to find the deal has been marketed by many wholesalers and on many sites associated with our local REIA.

3. Deals that are very skinny and far and few in between.

I am NOT bashing wholesalers, I would just like to know when I have a good one, how to find a good one, or need to move on. My main concern is that, with the current three wholesalers we work with, I feel that when I am offered a "deal" it is because others have passed on it. Perhaps the error is mine and in my approach. I am open to suggestions. I am a licensed realtor and I am going back to hunting the MLS at this point. The houses that these wholesalers have sent me to have been garbage deals. I really would like a legitimate wholesaler to team with. Thanks in advance for your comments.

[Luis Aste]

I think it's best to not limit yourself by working with a few wholesalers.  What I have done is used facebook as my resource to find as many wholesalers as possible.  This is how I do it.

1.  Find local real estate groups on fb and join them

2.  Scan to see who are the most active wholesalers posting in each group.

3.  Direct message each one and tell them what you are looking for.  Here is my go to:

"Hi,

I saw that you post often and wanted to see if you has any properties for sale in west philly? Or if you knew of a wholesaler that has inventory in west philly? We are cash buyers and are very active in the area."

4.  Once they respond ask for their email address so you can send them your investment criteria.

5.  Put their email into a spreadsheet, and add them to a wholesaler group email list in your email.

6.  Grow your list, and then send out email blasts once a week to see what deals are out there.