This is a classic example of a gold rush too many people not enough gold.

I sold classic cars as a hobby.

Wholesaler,fee taker,etc. whatever you call it if I am the listing broker for my client and you come with the little to no skin in the game you won't be locking up any of my client's properties.If the client demands it then fine but most of my clients are somewhat sophisticated.What I don't like is that in a wholesale transaction the seller doesn't know the STRENGTH or CAPABILITY of the end buyer with these wholesalers trying to lock something up and then leave unscathed if it falls apart.This reminds me years ago when I did residential short sales.I would get calls from sellers who was contacted by one of these wholesalers or a regular investor.They would take all the sellers financial docs and say they submitted to the bank for approval.I found out papers were never submitted or the package was incomplete.The investors never returned papers to the sellers and the buyers were gone "like a fart in the wind".I had to come in and do damage control to fix things.Another classic is the investor gets the seller to sign a quit claim deed and then disappears and now the seller can't sell if they wanted to.We had a saying when we first got licensed as an agent.The head broker said "you learned just enough to pass the test".Now comes the hard part of learning your skill with a proper mentor so you don't "practice on the public".Then he said "you know just enough to be dangerous"So I feel just like new agents some wholesalers cause massive damage out there.We have our contract where the seller allows assigning into a corporation the buyer owns,assigning to another buyer,or not assigning at all without written permission and review by the seller first.I think wholesalers should pay a very hefty fee if they can't perform.They won't do it again and they will think very hard about the purchase price and not over valuing before putting a property under contract.There are a lot of wannabe buyers out there.A broker saves the seller time weeding them out.Purchase price,terms,deal structure means little to nothing if the buyer has a low chance of performing.I don't have anything against people with no money trying to get a leg up.I wasn't born with a silver spoon and had to start out small.Just be realistic and do not try to do a deal you aren't qualified for or have the means of following through on.Partner with someone more knowledgable who can guide you away from mistakes and help you.To one posters comment about we are all in this for the money.I would DISAGREE that that's the only or sole reason.I enjoy real estate on many levels besides the monetary aspect of it.There are many things I could do for money and I wouldn't last long at them for the simple fact that besides the monetary aspect they do nothing for me.

At a minimum I would score it or rough it up and use thinset instead of mastic.In our lower and mid priced flips, we do the classic white subway tile.

National money and other forms of money (bank deposits and notes) were freely converted into gold at the fixed price...The period from 1880 to 1914 is known as the classical gold standard.

Sherwin Williams Super paint in satin on the walls, Pro Classic Semi gloss on the trim and doors.

The expensive but highly repeatable method is to get a 0% APR credit card for 12-18 months and buy relatively consistent furniture that’s trendy-classic, affordable and hotel-like.

Love the land game always will.so you should watch Glen Gary Glen Ross its a classic and Very true our office was just like that.. 

What REI strategies are best to work in with HUD properties.Address: 7145 JUPITER DR Price: $69,255 As-Is Value: $80,000 Bed/Bath: 3/1.5 Rooms: 7 Units: 1 Sqft: 1,298 Year: 1975 LBP Disclosure: Click here to view the LBP Disclosure Addendum LBP Initial Inspection: Click here to view the LBP Initial Inspection Report Type: Detached FHA Financing: Insured with Repair Escrow (IE) 203K Eligible: Yes List Date: 01/22/10 Property Condition: Click here to view the Property Condition Report Status: Offer Accepted (on 02/11/10) Broker: C C CLASSIC LLC Confirmation: 8593832313525-841112594 Net Price: $63,716 Purchase Price: $69,255 Escrow Amount: $1,402

I also wanted to let folks know about the other side of the deal, because this was a classic win/win/win.