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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
MORE RESOURCES: The Insult Comic Who Sells Million-Dollar Homes The New York Times Like Real Estate? Earn 12% With AWP Seeking Alpha The 36 Top L.A. Real Estate Agents of 2025 The Hollywood Reporter Commercial Real Estate Roundup for Sept. 12, 2025 Idaho Business Review Local real estate investment firm details positive federal tax policy changes for investors SiouxFalls.Business Calvin Harris Accuses Financial Adviser of Stealing Millions to Fund ‘Boondoggle’ Real Estate Project variety.com Real Estate Startup Aims to Help Clients Make Smarter, Data-Driven Decisions National Association of REALTORS® Matt Curtis Real Estate Completes 150th Home Build in Guatemala, Extending Global Mission of Service Huntsville Business Journal Mel Foster Co. School of Real Estate offers pre-license courses Quad Cities Business Journal University of Alabama business school receives $5 million donation The Tuscaloosa News As AI takes over mortgage approvals, who’s watching the machines? Real Estate News by RealEstateNews.com AI and analytics key to navigating ‘exciting inflection point’ in real estate, UBS CIO says Pensions & Investments Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) Confirms September 2025 Monthly Distribution Yahoo Finance Signs of more affordability, inventory in mid-Hudson Valley real estate market this fall Times Herald-Record Press Release: Korrin Petersen Joins Bowditch’s Real Estate and Environmental Law Practice Bowditch & Dewey Choice Properties Real Estate Investment Trust (TSX:CHP.UN) Declares C$0.064 Cash Distribution for September Yahoo Finance Dunlap & Moran real estate attorney named to Best Lawyers in America 2025 Sarasota Herald-Tribune Rare two-family waterfront home in Fairhaven sells for $1M. Weekly home sales SouthCoastToday.com Calvin Harris Accuses Financial Advisor Of Stealing $22.5 Million For Real Estate "Boondoggle" Stereogum Real Estate Notes: Downtown Hilton hotel opens Nashville Post 66K-sf property near Rice Village sold Texas Real Estate Research Center Capital Idea Community Pulse - Lima One Builds Unique Lending Model For Real Estate And Construction Projects Greenville Online 261-unit River House along River Walk sold Texas Real Estate Research Center Inside Savannah Homes: 3 fully furnished condos overlooking Chippewa Square for $6.995M Savannah Morning News HAR.com Expands to Include Commercial Real Estate Listings Realty News Report Northwest Healthcare Properties Real Estate Investment Trust Announces September 2025 Distribution Yahoo Finance East Cobb residential real estate sales, Sept. 2-5, 2025 East Cobb News Hawthorne Capital Named Fastest-Growing Real Estate Company in the Americas by Financial Times Business Wire Best Real Estate Projects 2025: Channel 24 The Business Journals Senate Set to Confirm Miran for Fed on Eve of Pivotal Interest Rate Decision Norada Real Estate Investments Navigating home inspections, objections and appraisals in Colorado real estate The Chaffee County Times The Rise Of Branded Residences: A Global Real Estate Trend With Local Impact - Harlem World Magazine The Rise Of Branded Residences: A Global Real Estate Trend With Local Impact Harlem World Magazine Best Real Estate Projects 2025: Sutter Health Park Upgrades for MLB Play The Business Journals Strive305: Tico Casamayor & Irvans Augustin Talk Real Estate with Natalee Lima & Denise Sainz Miami's Community News The “Most Expensive” Home In America JUST Hit The Market—and You Won't Believe the Price House Beautiful Linkhome Holdings Inc. Launches Platform for Real Estate Purchases Using Cryptocurrency Quiver Quantitative Renovated 125-year-old waterfront cape in Westport sells for $2.5 M: Weekly home sales Fall River Herald News Does Las Cruces real estate take a winter holiday? Las Cruces Sun-News Real estate company launches crypto-based platform National Mortgage News REALTY ONE GROUP POWERS INTO MEXICO CITY PR Newswire Texas now restricts Chinese nationals from buying property. Is it alien land laws all over again? The Guardian New Silver Introduces Commercial Real Estate Loan Program sg.finance.yahoo.com A glance at Dayton's top commercial real estate transactions, totaling $18.8 million The Business Journals Chicago Atlantic Real Estate Finance, Inc. Declares $0.47 Quarterly Cash Dividend for Q3 2025 Quiver Quantitative How Quincy councilors voted on $1.9M deal to sell downtown property The Patriot Ledger Flagship Communities Real Estate Investment Trust Announces September 2025 Cash Distribution GlobeNewswire Brand-new, million-dollar home in Clive features fitness area, contemporary style The Des Moines Register Norfolk sheriff, who moonlights as real estate ‘mentor,’ used campaign to bolster business interests, state officials say The Boston Globe Chicago Atlantic Real Estate Finance Declares Common Stock Dividend of $0.47 for the Third Quarter of 2025 GlobeNewswire 374K-sf logistics warehouse breaks ground in Pasadena Texas Real Estate Research Center Real Estate: North Vine motel, South Jackson commercial property both change hands Magnolia Reporter On the Move: Strategic Retail Advisors Partners with CCP Real Estate Advisors Orange County Business Journal $5.3 million home sells on Anna Maria Island Tampa Bay Times |
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