For me the problem is when a wholesaler calls me with a property they are offering (that they have under contract) they have never seen it, been in it, have no clue what repairs are needed, what the costs of the repairs are, or even know the correct ARV (zillow, is NOT an accurate site to get ARV's). I will set up a time to go meet the property owner to do my own evaluation of the property, write up what the actual repairs will be for a rental or resale, have my realtor pull the true comps for that area! Then I call the Wholesaler with the true facts, lol 9 times out of 10 I have to tell them that they are wholesaling it too high, the property is so bad that it will be very difficult to find a buyer, their ARV is way off, or the property has been vandalized and stripped.
I wholesale deals myself, but I take the time to meet with the property owner, make sure my repairs are accurate, my ARV is definitely correct, know the rental income that it will cash flow at, all background info as possible on it before I look for pass it onto any other investor. I want repeat business with who I work with, I was raised hearing in this world you have one thing going for you "Your Good Name, your Integrity and your Honesty". I try very hard to live by those words my father used to tell me!
