A wholesaler locked up their first deal in New York without buyers or market knowledge, then canceled during due diligence. The seller had already packed the house. The lesson: set clear expectations so sellers don't assume a cash deal is certain.
Because I remember when I first started and I thought this was the process to do. We locked up a lady in New York, didn't know anything about the market, didn't have any buyers. And then when we canceled the contract within our due diligence period, she was all upset. She was like, guys, I've already packed up everything. Now, even if you set expectations with sellers like vaguely, they're going to think it's a done deal. You said you'd buy it for cash. So you got to— you have to do it the right way.
Why Traditional Wholesaling Keeps Failing You (Use This Pre-Flip Method Instead)
