20: Real Estate Wholesalers: Profit Parasites or Property Investors’ Best Friend?
On The Market
Shownotes Transcript
Real estate wholesaling) is one of the most hated, commonly criticized, and least-trusted types of real estate investing. Most people paint real estate wholesalers as those who** lie to sellers, incorrectly run comps, and try to market bad deals** to unexpected investors. This is all said while top real estate investors around the country continue to buy from wholesalers. So what is it? Are real estate wholesalers a parasite to the property investing industry or are they the symbiotic counterpart every successful investor needs?
To put it simply, wholesaling real estate is when a wholesaler will** put a property under contract for a certain price**, then market the property to investors at a higher price,** and keep the difference** once the property is handed off. Think of wholesalers as the middlemen between a distressed seller) and a real estate investor looking for undervalued deals. In a perfect world, all three parties walk away from the transaction happy. But how often does this happen?
Jamil Damji, James Dainard, and Henry Washington are on this week to talk about how to wholesale), what most wholesalers get wrong, and whether or not real estate wholesaling still works in 2022. Jamil and James are both active wholesalers, while Henry often buys his properties from wholesalers. They give a “wholesaling 101” course to any new investor looking to find deals as well as to new wholesalers trying to get their seed money started.
In This Episode We Cover
Whether or not a recession is here and how high interest rates) may go in 2022
**What is wholesaling **and why real estate wholesalers are so hated in the industry
Is 2022 a good time to start wholesaling or should investors wait until home prices drop
Why wholesaling may be the single best way to **get a world-class **real estate investing education)
Which properties to wholesale vs. keep when investing and flipping contracts
Vetting your wholesaler and how to know you’re buying a real deal
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise)
Connect with Other Investors in the “On The Market” Forums)
Subscribe to The “On The Market” YouTube Channel)
Find an Investor Friendly Agent in Your Area)
Henry's BiggerPockets Profile)
Jamil's BiggerPockets Profile)
Grab This Episode's Data Drop (Questions to Ask Your Wholesaler))
The Newbie’s Guide to Wholesaling in 7 Simple Steps)
The Big Mistake I Used to Make When Qualifying Wholesaling Leads)
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-20
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