I'm trying to learn more about a group of people that I have only had rough experiences with. #oof

9 Sept 2023 · 0 min

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A short transcript excerpt from a YouTube video (uploaded by Steve D Valentine) in which Steve and another speaker discuss ethical and practical issues in real estate wholesaling — concerns about wholesalers lacking knowledge or commitment, the risk of signing/canceling contracts, and the practice of lining up buyers before locking deals. The exchange questions confidence in pricing and seller outcomes.

Whenever I think of wholesalers, it's like they don't have the knowledge. They're dealing with people's lives at the end of the day and their money. And some of them have no fear in signing a contract and canceling a contract. And those people are like, great, I can move out in 10 days. I can go do this. And then all of a sudden, oh, I couldn't find a buyer for it. So sorry, I don't have any skin in the game.
That's one of the things that I've always tried to pride myself in doing. If I lock a deal up and get signatures on a deal, I typically have it sold before I do that.
You're confident in your number?
Confident in the numbers. I'm conf. Who I know will pick it up, will buy it from me. I've had to cancel over the years, a couple here and there. But I've been honest and forthcoming with the seller on what, why, what the deal is always been in the inspection period. I've never backed out last minute, day before closing, anything like that. But that's the problem with the wholesalers. They've given us a bad name because they just don't care.