Dealing with Wholesalers

[Patrick O'Brien]

New player in the game here. Looking to flip my first property as I've recently liquidated some cash and would like to invest in some RE. I'm located in the Bay Area, Ca and have been connecting with local wholesalers over the phone. I've been actively looking online and on the MLS for opportunities to flip here locally in the bay area but nothing has really jumped at me yet.

Questions:

Will a wholesaler provide me with deals that are priced below market value? How so?

What's your advice on how to find a good wholesaler? 

Why would a wholesaler give you a great deal on a property when they can turn around and profit significantly more from the property themselves?

Things to be careful about when dealing with a new wholesaler?

Really appreciate the help here, As I'm new and have tons of questions. Any insight would be greatly appreciated as I'm trying to gather as much information as possible. THANKS BP!

[Nicholas Scatton]

Good wholesalers will have good deals below market value. finding a good one is key, usually facebook groups, and through your local Reia. when doing a whoelsale deal you typically must be all cash, or hard money and quick close. there is typically no contingencys either, inspections for informational purposes only, no appraisal financing or any other contingincys. so make sure your funds are in order. also never take a wholesalers Arv and repair estimate as anything more than a guess, do your own numbers.