How do you overcome this obstacle when wholesaling a property?

[George P.]

Ok, so we had to close on a deal that was meant to be a contract assignment. Here are the numbers:
ARV 110k
Repairs 20-25k
Rent 950-1000
Originally asking 35k
Bought for 20k, had to repair the back extension (mechanical problem) - 3k

Here is the obstacle - I have people (marketing to investors) interested (numbers do make sense don't they?). But as soon as they found out how much we paid for it (public records), they either stop responding, or give a low-ball offer (low 20s) or say - "wow, you are trying to make so much money with this property". Yeah, but I had to find the deal and pass it to you to make money. I mean - if these numbers make sense to you, why would you not do a deal - because someone else makes money on it too? There is plenty left for everyone involved in the transaction.

Have you ever had this problem? How do you suggest we overcome it? How do we sell the property?

I suppose some might suggest "don't be greedy, sell for what you can get for it" - but the problem is, the offers that we had barely cover our holding, closing, repair costs and purchase money.

I think we might get better chances of selling it when listing on MLS as a handyman special ?

[Ryan Webber]

Jorge,

I'm guessing you are referring to my comment about wholesaling not being for everybody. I didn't receive an email from you, but I have no issue with just discussing it here.

My laughter was based on your extreme negativity with wholesaling. It seems like you might be letting your lack of success sour your vision for the opportunity.

Failure will come in any endeavor, and how you deal with that failure is what will determine the level of success you achieve. You experienced failure in wholesaling, and you have become bitter and let it steal the vision you had.

I have come to similar hurdles in my business on multiple occasions and instead of letting it steal my vision, faith, and determination, I pushed harder. I strengthened my vision deeper and mustered my faith and determination to a higher level and pushed through.

Not everybody will make that choice. There is a price to pay for success in ANY endeavor, whether it be in real estate or in music or in anything. If you are not willing to pay that price, you will NEVER have any level of real or lasting success.