@Scott Johnson I would agree with your comments in regards to the assumptions that most people make that MLS is the way to go. The wholesale route is not for everyone and I agree with many comment you will see on BP about the shady actions some wholesalers do give others a bad outlook. Wholesaling, or MLS for that matter, must fit the seller's criteria and situation. Wholesaling fits certain criteria that allows for cash offers or quick closes to be the answer as opposed to listing on the MLS. The latter may include accepted offers that fall through, repair contingencies, family disputes, 1031 contingencies, court approvals, etc. Ethical wholesalers provide a service that the seller feels fit his/her criteria based on the situation.
Many properties that wholesalers target, can't be listed on the MLS as-is or not without putting some in some capital to reach the ARV of the market area. Maybe the sellers does not want to put 50k in to update his 1950's decor to get the top dollar. Maybe he doesn't want to spend weekends out of his home in order for a realtor to show his property. Maybe he inherited the property from a deceased relative and he lives overseas and just wants it to be off his hands. So while many on BP go on and on about how wholesalers rip off the uninformed, there are many wholesalers with ethics that perform a service that is needed, maybe at a premium to the seller, but nevertheless fits their situation. Sometimes it is just a matter of convenience and peace of mind. Have you ever had room service and paid $25 for a hamburger that you could have walked down and grabbed for $10?
