Tips for Buying from Wholesalers
Tips for Buying from Wholesalers
Wholesaling updated 3 months ago

Tips for Buying from Wholesalers

ThinkRealty.com created a blog about some other people's approach of wholesaling

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ThinkRealty.com created a blog about some other people's approach of wholesaling that Wholesaling real estate has a mixed reputation among real estate professionals with some seeing it as a good way to get started in real estate and flip houses with little risk while others see it as something close to acting as a real estate agent without a license and doing what amounts to a net listing.
 

Regardless of what you think about wholesaling in general, however, it often makes sense to buy from wholesalers. And if you are going to buy from wholesalers, there are a few things to keep in mind.
 

What to Know About Buying From Wholesalers

The first thing to remember is that generally speaking, you are not going to land a grand slam from a wholesaler. Remember, first the wholesaler needs to cover the purchase price to the seller, then cover their marketing and administration costs and then make a profit.

 

Furthermore, there are many other buyers out there, so if there’s a larger profit to be made by increasing the price a bit, they will usually do that instead of passing that profit on to the end-buyer. This is especially true in an extremely hot market like the one we’re in now, where even Wall Street is buying houses like there’s no tomorrow.
 

That being said, we have gotten quite a few good deals from wholesalers. We’ve had to sort through a lot of bad ones to get those few and rarely have we gotten a great deal. But we have gotten plenty of good ones.
 

It’s also important to remember that most wholesalers will want a quick closing so it’s important to have either cash on hand or private financing available for making offers.

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