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Updated almost 9 years ago on . Most recent reply
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Wholesaler who won't give an asking price
Greetings, everyone. I'm encountering a new situation for me, which is that there's a guy in our area who is both a rehabber and a wholesaler, claiming (truthfully, I think) that he sells between 80 and 100 properties per year. He currently has 8 properties available in our area.
I sent him an inquiry about several of the properties, asking what he's asking for them, his expected ARV, and what his estimated rehab costs would be. (He says he's prepared to rehab these if no one buys them, so he should know all these numbers.)
His response was just "if you're interested, make me an offer."
I asked him for that info again. His response: "I'm very busy hard to get that info out sorry. every thing I buy is for sale. We rehab and have agents list for market value. if you want to buy something make me an offer before I rehab it and its all about the numbers. I will also buy anything you have anywhere. We are not wasting time here you want to do a drive by, google street view etc. make me an offer. I sell between 80-100 homes a year, I buy for rentals, I do commercial and land. I'd love to work with you but you got to do your homework and make me an offer that works for you."
My question is this: Is it common for a wholesaler to not put a price on a property? It seems that he's wanting me to do all the legwork of pulling comps, driving by, estimating rehab costs (without seeing the inside), all of which he's already done, without even giving me the reference point of what he would take for it. If it's a ridiculous asking price, I don't waste my time on it, but he's not giving me that option.
Advice? Is this normal? Thank you!