Turning Wholesalers into the Good Guys

[Latia Rowland]

I am in the process of looking for potential/motivated sellers in order to do some wholesale deals (enough to get me the money to do my own rehab/flip). As I've been researching, I see a lot that Wholesalers turn out to be the "bad guys." Unfortunately, I am an accountant/auditor, so I am automatically looked as a bad guy with my clients (lol) and do not what to be known as the bag guy in my real estate world. So I am starting this discussion for investors to vent or simply let me know the things that wholesalers do that annoys them. I know the main two things are estimating rehab costs and ARV (I am currently reading and doing a lot of research into this to accurately calculate these values, and my accounting skills help a little). My intent is to get all the bad things wholesalers do to ensure that I make it my mission to be the complete opposite and start an honest business with high integrity. Vent away!

[Doug Pretorius]

@Latia Rowland @Mike Cumbie is totally ignoring the fact that there are several categories of sellers who can't or won't sell through a realtor. He's living in a fantasy if he thinks every seller can list every house in every possible scenario and come out better than selling direct. I know this because I exclusively buy direct from sellers who fall into the following categories:

1. Sellers who have been burned by agents before.
2. Sellers who have no equity with which to pay a commission.
3. Sellers who don't have the time, money, or desire to get their property "listing ready".
4. Sellers who don't want the fact that they need to sell to be "shouted from the mountain tops". They want a private and discreet transaction.
5. Sellers who don't want a parade of tire-kickers marching through their house.
6. Sellers who tried listing and their agent failed to produce an offer.

You can do real estate however you want. But being a realtor is totally different than being an investor. You work with a different group of sellers with different needs. "Wholesaling" is not about scamming sellers into taking less than they can get listing with a realtor. True wholesaling is an entirely separate market from the retail MLS.