Question To Property Wholesalers
I am considering to buy a property from a wholesaler and prior to this website, I never knew how a wholesaler operates.
The wholesaler is assigning the contract to me for 10K. The owner needs 30K to walk and the payoff on the loan is 70K. The property needs about 5K in repairs.
The comps in the neighborhood is 160K. Is this a good deal for me since in a perfect world, I stand to make around 45K in profit. Is so, why doesn't the flipper do the whole thing and make all the money for himself rather than assign it to me. Does he not want to take the risk?? Is he happy with the quick 10K profit?
I am just trying to understand the mindset of wholesalers.
Thanks,
Zack
For me, wholesaling is stress free compaired to retailing. You can make as much money but through volume....