Is wholesaling a "real" strategy

[Patrick Saco]

I spoke to a few guys who claim they've been through it all when it comes to Real Estate & Investing. They told me I'm wasting my time wholesaling, that the strategy is unheard of and looked down upon. Is this true? I'd like to know before I invest anymore of my time.

[Andy Chu]

I feel Will's observation is one sided. The wholesale business need not find the one investor that will take on the property. If they a slew of investors and the deal is slim but can make a profit for them, then its a win win. At any auction, everyone will think the winning bidder is a sucker.

Don't get discouraged if one investor turns you down. I may think the property is worth one number and the competition is worth another.

Wholesaling is unheard of...? WHAT?!?! I've taken down projects as a flipper and just don't have the crew or the capital or want to close on a property. I know there's equity, but I'm working on 3 other flips at the time. These are great to wholesale as I left enough meat on the bones for someone's time.

It is then a win win.

Moral of the story, don't get discouraged before you get started. Then you will not go in any direction. Best of luck.