First potential wholesale call with seller tomorrow

[Ralph Germain]

Hi BP,

I'm a newbie investor. Looking to buy and hold, but I plan on wholesaling to raise capital. I have my first call with a seller tomorrow. What should I ask? Do I immediately disclose I'm a wholesaler? how should I approach the conversation? (FYI: I got the property address while driving for dollars, skip traced, called and left a message, got a text back to call and talk tomorrow)

[Daniel Lane]

To everyone bashing on wholesalers, you have some valid points but your replies are nothing but angry banter that do not push the conversation forward and provide a learning experience for people trying to reach out to the BP community. Especially you @John Thedford, your posts are always negative and occasionally unprofessional. I have seen you call out people and threaten to send their information to the police because they are talking about wholesaling in a BP forum. You really think that is the best approach? I highly doubt the people you threaten are going to give your opinion a second thought. So what's the point and what do you gain from it? And you @Nate Marshall, comparing someone trying to make a living and looking for answers to a terrorist? You make yourself look bad. How could anyone take you seriously and consider you professional enough to work with.   

Yes, there are newbies out there that give most wholesalers a bad name. However, a good wholesaler can walk into a situation and help a distressed seller out no matter what they require. When I speak to homeowners, I do not try to get them under contract to later just back out of it leaving them screwed, I do not lie about how assignments work and I do not lie about being a big time cash investor with massive amounts of cash on hand. I listen to their needs and find solutions to their problems. If their situation requires a real estate agent... guess what?? I refer them to a real estate agent. If I personally wouldn't be willing to buy the house then I would not put them under contract. Most wholesalers that I have worked with or spoken to have the same mindset. 

Your idea of what a wholesaler is is based off of the select few out there that do not know what they are doing. There's bad apples in every niche of real estate. It's terrible to see you commenting on all these threads spreading negative information and preventing forums from actually moving forward with good information that people can learn from. I do agree that wholesalers who lie and put sellers under contract to later just ghost them should not be in the profession. However, these people are not the majority. 

Yes, there can be legal ramifications from wholesaling if individuals are negligent and don't know what they are doing. Everyone should always consult a local attorney before starting. Every state is different and they all have different laws pertaining to this subject.