Wholesale Property Brokers

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Sushi71
Member
@sushi71
Join Date: 2003
Post Count: 5
February 21, 2003 - 2:11 am
Hi all
I have been hearing about Wholesale Property Brokers advertised on the radio in Melbourne and was wondering if anyone has used them and if so are they worth it.
Thanks Alex
Steve McKnight
Keymaster
@stevemcknight
Join Date: 2001
Post Count: 1,763
February 21, 2003 - 3:15 am
Alex,
I have heard the same ad.
Their website says:
quote:
Wholesale Property Brokers investigates, researches, sources, negotiates and underwrites quality residential property.
From my reading these guys are able to buy wholesale from the developer and then charge the property to the client and wholesale plus margin.
On the back-end they probably earn trailers and commission from the loans they write and the services they provide.
I expect that the property they advocate buying is negative cashflow. As such it is critical to complete due diligence over the numbers.
Bye
Steve McKnight
**********
Remember that success comes from doing things differently.
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Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
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Success comes from doing things differently
tardis3
Member
@tardis3
Join Date: 2003
Post Count: 2
September 18, 2003 - 11:06 am
Now I’m a little worried. I have purchased a property through Wholesale Property Brokers and until I read your message was quite happy with the deal. The property is a positive cashflow property with 3 years guaranteed rental. Steve, are there other property dealers/brokers you have more faith in – or should they be avoided?