Wholesale

Does anyone here do any wholesale strategy and if so, how you got started and any tips to get started?

Thanks in advance.
 
Explanation : Spruikers tell mug investors they get a wholesale price to move a number of properties and any profit they make is out of that. They dont want to tell an investor they are paying for their income. Sure dev's may well offer a incentive fee but why would it be more than a REA can deliver ?? Some spruiker deals can be overpriced in the range of $20-$40K. And sometimes the spruiker is in with the developer and agree to split profit from the mugs. Why would a developer give away a market price ?? They don't.

Reality is you are may be shown a overvalued property with a (dodgy) valuation and sometimes even dodgier finance. Sure its all ready to go. The faster you sign and don't seek independent advice the better.

My tip : Get your own valuation from an independent valuer / bank / broker / and compare them.

QLD based ? Southport seems to be the Bermuda triangle for scam artists.
 
the other thing is that often 'wholesale' is a pitch word for being a developer. Developers get rewarded. why? because they carry risk.
 
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