Hi all,
What are your experiences with purchasing investment properties from property wholesalers via their agents?
Good, not really, depends? Pros and cons?
I'm reading about them on the internet however if someone has first-hand knowledge and would like to share, I'd appreciate it.
Cheers,
Cel
So you are talking Off The Plan?
The agent who told me about it did say it was a vacant block where you build a house on, so yes I suppose that's what it is. Any thoughts?
No that's not Off the Plan. It's just a house and land package. Why are they saying they are wholesalers?
Just compare the land + build price with the cost of buying a built house.
Do your due diligence to see if there is value in it. I wouldn't let the word "wholesaler" lull you into a false sense of security.
How are they wholesalers, most make at least $30,000 commission. How are these good deals.
I put clients directly into development sites. he only way to get a wholesale price is to build it yourself.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
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Hi Catalyst,
Thanks for the advise, will keep these in mind.
It's difficult for me to ascertain why they are calling themselves wholesalers because I got the information about them second-hand through a property agent someone introduced me to. I'll see if I can dig up some more information from the same person when I talk to them again next week.
Just thought I'd get a feeler out in these forums as there seems to be many experienced people here.
Cheers
Cel
Hi Nigel, good to know.
I shall investigate from my end further about commissions, etc.
Cheers
Cel
Wholesale is a Reseller-2-Retailer transaction, Trade is Wholesaler-2-Reseller (think plumbing supplies to tradesman plumbers), Retail is a business that markets it's product to the end user. Sometimes switching the terminology is used as marketing spin to make one type of buyer think he is getting a better deal.
Keep your eyes & ears open when spin enters the room.
Modernity Investing
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