All Topics / The Treasure Chest / Wholesale Property Brokers

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  • Profile photo of Sushi71Sushi71
    Member
    @sushi71
    Join Date: 2003
    Post Count: 5

    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

    Profile photo of Steve McKnightSteve McKnight
    Keymaster
    @stevemcknight
    Join Date: 2001
    Post Count: 1,763

    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.
    **********

    Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
    https://www.propertyinvesting.com

    Success comes from doing things differently

    Profile photo of tardis3tardis3
    Member
    @tardis3
    Join Date: 2003
    Post Count: 2

    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?

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