Why a Real Estate Wholesaler should be your Friend
If you are a Real Estate Investor who makes a living from Buy, Fix, and Sell properties you have probably worked with a Real Estate Wholesaler. Wholesalers are individuals or small companies that specialize in finding attractive real estate investments, putting them under contract, marking up the price and reselling properties to Investors. Wholesales usually do not taken possession of a property, rather they flip the contract. It can be an ugly game. Ive don’t it for almost ten years and have seen a lot of people who call themselves Wholesalers come and go. Wholesalers can get a bad name, but they really shouldn’t. A Wholesaler is an extremely valuable partner to have. Below is a list of qualities you should require from your Wholesaler.
Market Knowledge
A good Wholesaler has been around the block. In 2017, if you can find a good wholesaler who has been in business since before the 2008 bust it will be advantageous. A seasoned veteran will be conservative in their values and they don’t believe that you can’t lose.
Sources of Properties
A good Wholesaler will have multiple sources of properties and connections. Wholesalers should have REO agent contacts, short sale contracts, other wholesaler contacts and market for sale by owner properties. This will provide a good source of Off Market and On Market deals. As of June 1027, if you don’t have access to off market deals you are paying too much.
Funding Resources
A good Real Estate Wholesaler has been in the game for some time and over the years has acquired some wealth. This should provide them the ability to help out if you are caught in a bind. If you are a day short on having funds to close a deal you are purchasing from their company they should have the resources to close on that property and resell it to you the next day. It is a deal right, so they should be willing to step in, especially if you are a good client.
Respect
Another quality your Real Estate Wholesaler should have is respect. They should look at you as a partner, just as you look at them as a partner. They shouldn’t talk down to you. T
Time
Wholesaling is a full-time job. Wholesalers put in the hours finding properties so you don’t. You should stay focused on renovating properties.
Here are some links to a few good wholesalers in the Central Florida area:
Homepro Investments
EquityPro
JMO Real Estate Group
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