What's the deal with wholesalers?
It’s no secret that the Colorado real estate market is hot. With that kind of opportunity, wholesalers have flocked to our community. Their place in the real estate investment field can be valuable for rehab investors who need “boots on the ground” to find investment properties, but not all wholesalers are cut from the same cloth. It’s important to go into a deal with a wholesaler with your eyes wide open.
Some of the questions you should consider when working with a wholesaler should include:
- How do they work to find deals on rehab properties?
- What is their process for accepting bids from investors?
- Are they familiar with the neighborhood (or even the state) in which they are brokering deals?
- How do they determine the final ARV?
A wholesaler’s core competency is finding properties to offer up to investors – or that’s what it should be. Investors, though, are responsible for their own due diligence in making sure they understand the process for each unique wholesaler.
ICOR works to offer education that is in the best interest of the investor and, in that effort, we want you to understand the wholesaler’s angle.
In our November monthly meeting, we will have a panel of wholesalers joining us to tell us how they work, who they partner with, and what kind of deals they like to do.
This is your chance to ask your questions about how wholesalers operate and spend some time speaking to our panelists one-on-one.
If you want to learn more about how to work with a wholesaler, join us for this upcoming meeting! You will certainly be better informed and leave with a checklist of considerations to review before your next wholesale deal.