You must be logged in to reply to this topic.
-
What tips do you have on dealing with wholesalers? I have found that they usually overprice the properties, so I haven’t bought through one before.
I’ve got an interesting opportunity that just came up today, that actually sounds like a decent deal.
The wholesaler says the sellers need their cash out – I am not so sure as he has been dealing w/a daughter and the owner is 87 years old.
At any rate, if they really need all cash, I would bring in an equity partner.
Yet it would be great to explore the possibility of seller financing.
He says he has the property under contract for a cash closing.
I’ve never bought from a wholesaler, I’ve always been on the selling side.
I always priced my properties so there was still plenty of room for the rehabber to make the most profit on the deal. If the wholesalers you’re talking to are priced too high, then perhaps you can justify a lower price by showing them bids from a contractor for what the work will cost. If the wholesaler is new, they may not know how to estimate repairs accurately.
Ask the wholesaler if you and he/her can go talk to the seller together to see if you can negotiate a better deal and assure them that they will make the same fee.
You must be logged in to reply to this topic.
