What would you ask a wholesaler?

[David Olson]

So I was at a recent REI event and I ended up winning a free 1hr mentor session this upcoming Friday with the co-founder and managing partner of a large wholesaler. Being the newbie I am, I would like to reach out to the BP community for a list of questions you would ask if you were in my shoes. Maybe some questions that you wish you had asked a wholesaler you worked with in the past? Maybe you wish you had more clarity on a certain step in their business model before you worked with them? Maybe there are a list of questions that are an absolute must for you to trust them?

I have listened to a plethora of the BP Podcasts (this wholesaler was a guest on two of them) and a lot of successful BRRRR investors work with wholesalers however they also say that 9 out of 10 aren't worth your time and the key is to finding a TRULY reliable wholesaler.

I literately plan to collect these questions from everyone on here and put them together and bring them with me. Following this 1hr spent with them I will get back on here and answer the questions that everyone asked. I think its a great way for me to learn and to ask tough questions that I likely wont think of on my own. 

So if you would be so kind as to giving me 5 or so questions you feel are absolutely a must for you to trust any wholesaler you would ever do work with it would be GREATLY appreciated!!

Thanks!!!

[John Thedford]

Are you licensed or unlicensed?
Do you provide appraisals to back up your claimed ARV?
Do you have written bids from contractors when you state "x" rehab costs?
Can you provide me with at least five references for deals you have done?
Do you required a non-refundable EM deposit even though that is not standard in the RE industry?