I recently came across yet another post on one of the national sites for real estate investors, BiggerPockets, about “unethical” practices by wholesalers. There are a lot of wholesalers out there that provide a valuable service to those investors that either don’t have the time to find their own deals, or don’t want to do all of the marketing involved to find them.
The person writing the article had some very valid points, so I decided it was time to write a post about wholesaling “do’s and don’ts”.
The basis of this article was that a real estate investor had a house he was trying to wholesale. Then several other wholesalers came along, raised the price each time and tried to flip the same contract. I’m not really sure how they thought that was actually going to work, but I’m pretty sure these weren’t experienced wholesalers. I have said it before and I will say it again; you live or die in this business by your reputation. It takes time to build a good reputation, but it can be lost in the blink of an eye.