Why would a owner/seller deal with a wholesaler when they can get rid of their own property themselves (fsbo) or use a realtor to assist them ? If any one have information or a video in reference to my question please get back to me thank you.
I would suspect that many wholesalers are not being entirely up front with the seller about their intentions. They may tell the seller that they buy and sell real estate for profit, but they might not tell them that they have no intention of closing the sale themselves. They will then bring in their buyer and call them a “partner”.
I don’t see any major problems with part of this approach, but if the wholesaler doesn’t have the means to close himself, he shouldn’t sign up the deal unless he is crystal clear about that to the seller.
–Natalie
Because selling your own house isn’t as easy as most people think it is.
Also, if a seller sees that going through a wholesaler has advantages that meets his priority like getting paid cash or if they are in a hurry to sell.
Successful Wholesaling (and great quotes)!
[QUOTE=Mrrwep;889900]Why would a owner/seller deal with a wholesaler when they can get rid of their own property themselves (fsbo) or use a realtor to assist them? [/QUOTE]
A normal seller, wanting top value for their house, probably wouldn’t deal with a wholesaler. Wholesalers (and investors in general) should almost always be buying from a “motivated seller”. These are sellers who, for whatever reason, care more about selling quickly and hassle-free than they care about getting top dollar for their property (ex. divorce, inherit property you don’t want, facing foreclosure, bankruptcy, major fixer upper, out of state owner, job loss or transfer, major illness, already wealthy and the price just doesn’t matter to you). Also, selling the traditional way is often more trouble and expense than people realize - realtor fees, lengthy and inconvenient process, might have ongoing expenses and risk from an empty house (yard, utilities, taxes and insurance, upkeep, vandalism, flood, hurricane).
Don’t get this one wrong - finding motivated sellers/bargains, usually, is not a quick and easy foregone conclusion - it is hunting for needles in a haystack… Some people never get this part down, and it is hard to succeed in R.E. if you don’t. The exception being from a year ago, dating back to about four years ago, it was a serious buyers market, and REOs and short sales were plentiful - if you could pay cash - and in my area (Central Florida), that was the only time in my 15 years investing that was the case. That was when my focus shifted from hunting for bargains, to hunting for funds (private money). Fortunately, I was successful in my hunt, but then those who are determined to find a way to succeed no matter what (within legal, moral, and ethical bounds, of course) tend to succeed.
“There is no chance, no destiny, no fate that can circumvent or hinder or control the firm resolve of a determined soul.” –Ella Wheeler Wilcox
“My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out.” -Ronald Reagan
Hope that helps.
Best wishes,
Chris in FL