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Updated over 8 years ago on . Most recent reply

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17
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Lee Brewer
  • Raleigh, NC
3
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17
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What to look for in wholesalers?

Lee Brewer
  • Raleigh, NC
Posted

HI everyone, 

I'm new to Real Estate investing. I'm currently looking for my first investment. I've read a lot about people becoming wholesalers but have heard very few stories of investors finding great investments through a wholesaler. I'm currently using MLS searches, Zillo, and Craigslist. However I'm curious to know if connecting with wholesalers is a viable option for finding good deals? If so, can anyone refer a reliable wholesaler in the Raleigh North Carolina area?

Thanks.

Most Popular Reply

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948
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639
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Adam Schneider
  • Lender
  • Raleigh, NC
639
Votes |
948
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Adam Schneider
  • Lender
  • Raleigh, NC
Replied

In many ways, wholesalers are like people in other industries in that there's a huge bell curve of skill sets. What's different about wholesalers compared to some industries is that there is no barrier to entry in becoming a wholesaler. No license, schooling, etc. So, you'll have so many more people enter the arena--and leave the arena quickly. The good wholesalers become skilled in determining repairs and ARVs and networking. Their goal is to do repeat business and build a brand. The bad wholesalers...not so much. PRO TIP: Interview the wholesaler like you'd interview anyone who is providing an opinion. Ask how many deals they've done, how they determine their repair numbers, and how they determine their ARV. Those 3 questions will enable you to quickly vet the wholesaler and save time.

  • Adam Schneider
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