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Take The Guess Work Out Of Your Wholesale Property Purchases
We have become very concerned by the number of readers writing to us asking how to determine which are the wholesalers(*) that can be trusted. Why are we concerned? Because when we dig a little deeper, we realize that they are buying properties based solely on the recommendation of the wholesaler. They're guessing which ones to trust, and which houses to buy. That's a dangerous way to do business. Are we saying that most wholesalers will take advantage of you? Of course not. We believe in wholesaling. We wholesale many deals ourselves every year. Frankly, the majority of wholesalers are honest, and try to provide data that is as accurate as possible. The problem is twofold: first, wholesalers are sales people and present deals in the best light possible. The Buyers still need to do their due diligence to make sure the deal works for them. Second, wholesalers can only provide what the average renovator may incur as expenses. Your individual, specific expenses in any given deal may be higher or may be lower. It also depends on what exit strategy you're planning. That's why two investors can analyze the same deal, and one decide that it works great, and the other decide there's no profit. Both views may be correct since everyone's individual costs vary. When you purchase any property, you have to calculate your own specific costs to determine if it is a good deal FOR YOU. It could be a great deal for many investors, but not for you. Only you can make that determination. Conversely, other people may have to pass on a deal that you, because you may have better resources available, will jump on the opportunity. You also have to evaluate the After Repaired Value yourself. We still hear buyers talking about getting an appraisal to determine the value. An appraisal is a tool for the lender - NOT for the investor. Appraisals are an art, not a science. We could bring three appraisers to a property, and get three different values. Therefore, it's up to you to do your homework and figure out the right value. The question is: "What will this house sell for when the rehab is complete?" You obviously do not want to use as a comp the one home that sold significantly higher than all of the others. But by the same token, don't use the lowest values either - you'll never buy a house. We use the highest price cluster of similar homes we find in the area as our comps. This is the most realistic version of what you can expect in the marketplace. We do not under-value the property making it impossible to buy deals; nor do we over-value the property potentially resulting in no profit. Use the information the wholesaler provides you as a guide to determine which deals to pursue, but then do your own due diligence. Determine your own specific costs, and determine your own property values. Don't guess whose numbers are correct. In the long run, you'll be much more successful as an investor. (*) Wholesalers are investors who market extensively to attract motivated sellers, get the property under contract, then sell the deal to other investors who will fix up the property and re-sell to owner-occupants. Best of success & abundance, Lou Castillo FREE! Real Estate Investing Secrets To Earning $100,000 Your 1st Year! -- 11 Overlooked Real Estate Statregies That Will Turn Your Investing Business upside Down And On The Fast Track TO Success...Guranteed! Plus A Bonus Track With A Secret So Successful It Can Double Your Investing Income Overnight! http://www.InvestorSuccessTactics.com
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InvestmentNews Q&A with Stuart Saft, Partner and New York Real Estate Practice Group Leader at Holland & Knight citybiz Hamptons Real Estate Market Data – Week of 7/8/2025 Hamptons.com Mid-America Real Estate Corporation brokers sale of 67,146-square-foot shopping center in Oak Brook REJournals AEW Capital Management Closes $1.75 Billion Opportunistic Real Estate Fund Boston Real Estate Times Commercial Real Estate Checklist – sponsored content MyWabashValley.com Plymouth County Retirement seeks emerging markets equity, core real estate managers Pensions & Investments Las Vegas real estate agents using loopholes to charge higher commissions - Las Vegas Review-Journal Las Vegas real estate agents using loopholes to charge higher commissions Las Vegas Review-Journal Red Apple Real Estate Inks Four Garage Leases in New York Commercial Observer Chester County Leadership: Clarence Martindell, EVP of Commercial Real Estate Lending, Meridian Bank VISTA.Today Real Estate Sold: July 16, 2025 The New Era | Sweet Home, OR Halstatt Real Estate Partners Announces the Opening of Swell by Soltura in Bonita Springs, Fla. citybiz Greater Boston Real Estate Board hires ‘clear-cut favorite’ Jackie McCarthy Boston Agent Magazine Lakeland commercial real estate giant expands into North Carolina Business Observer Tilman Fertitta spent $270M for real estate on the Strip. 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The Arizona Republic Northwest Healthcare Properties Real Estate Investment Trust Announces July 2025 Distribution Yahoo Finance Keeping it Real: The Exploitation of Low-income Tenants in the Inland Empire and Beyond Black Voice News Wealth seminar aims to empower W-2 earners through real estate Long Island Business News July Economist Snapshot: What Will the Big Beautiful Bill Mean for Commercial Real Estate and Housing? Urban Land Magazine Dropping Prices Keep Hope Alive For Real Estate Buyers Front Porch News Texas New Zillow tools aim to help buyers, improve agent workflows Real Estate News by RealEstateNews.com Solana’s Real-World Asset Boom: From Stocks to Real Estate Crypto Economy Arizona’s real estate market leverages AI and data tools to meet growing demand Arizona Digital Free Press Metro seeks new real estate chief as Liz Price departs The Business Journals See how Sugar Land, Missouri City's real estate market fared in June Community Impact 'Fish House' in Atlantic Beach reels in $15.5 million record sale The Florida Times-Union Brian Hamilton: Nevada County real estate update TheUnion.com Massive residential Cancun real estate development shut down for illegal land sales Riviera Maya News Las Vegas: Tilman Fertitta spent $270M for real estate on the Strip. Now it’s a parking lot CDC Gaming Navigating Asia Pacific Real Estate in 2025: Structural Shifts and Strategic Sector Selection AInvest Likely a tear-down, estate sells for $86.5 million in Palm Beach Palm Beach Daily News Florida City Real Estate Market Crashes After Being Super Hot A Few Years Ago — Costs of Climate Change CleanTechnica Gloria’s Gab: Gloria Burns Talks Real Estate & Innovation with Salim Chraibi of Bluenest Development Miami's Community News Doorvest Acquires Wreno to Power Real Estate Operations and Pursue Property Management Acquisitions Business Wire National Media Names Local Real Estate Leader Woman of Influence Westfair Communications Art Advisory Meets Real Estate: A New Vision For Collecting James Lane Post An under-construction Lewiston mansion, plus other high-end Niagara County listings The Business Journals Flagship Communities Real Estate Investment Trust Announces July 2025 Cash Distribution GlobeNewswire REAL ESTATE | New ice cream shop to open in Slinger, WI | By Ann Bauer Washington County Insider Madbouly reviews progress on real estate export platform Dailynewsegypt Real estate inquiries by wealthy New Yorkers into Florida properties jump 50% after Mamdani primary win Fox Business News | Academy of Real Assets launches latest book focused on young people's real estate views CoStar Lead Real Estate (LRE) Opens New Hotel in Asakusabashi Insider Monkey Golfer Bryson DeChambeau's Massive Real Estate Investment Has Eaten Up Most Of The $125 Million He Got Paid To Switch Tours Yahoo Finance Foreign Investment in U.S. Homes Surges to $56 Billion, Highest Growth Since 2017 The World Property Journal Jake Paul Closes One Of The Largest Real Estate Deals In Georgia History With $39 Million Purchase of 5,600-Acre Ranch Yahoo Finance |
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