Vetting Wholesalers the right way
Can somebody please respond or point me to a post that will help me learn how to do proper due diligence on a wholesaler before doing a deal with him/her?
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Really it comes down to each individual deal, and you have to evaluate very deal yourself. The wholesaler is simply selling paper - it's up to you to take the deal and monetize it.
I recently did a wholesale deal with an investor who completely screwed it up - instead of him making a quick 10k profit he decided to slowplay the thing by dragging his feet, taking 4 months to paint a 1200 ft SFR to end up walking away with only $3200. Does that situation make me a bad wholesaler? No - the deal was great when it started and had tons of potential, just so happens that investor kinda sucks at this game.
I don't care who the wholesaler is - if the deal has opportunity, the paper is clean, and the transaction is legal, then it might be a good deal for some of us - but not for all.
If it's not a good deal then it's not a good deal - even if jesus himself is the wholesaler.