Are you looking for a wholesale property in the Detroit area? A great way to find discounted homes is to find a property wholesaler in your area. Not all wholesalers are the same. You should always make sure you are working with someone you can trust. You wouldn’t buy a car from just any salesman, you should also make sure you are buying property from a reputable person. In our latest post, we will provide some tips to help you find a property wholesaler you can trust!
How Long Have They Been In Business?
Sure, everyone has to start somewhere, and just because they are new to the business, doesn’t mean they are not trustworthy. That said, someone who has been in the industry a bit longer might have a better understanding of how to get the best deals, in turn, passing great deals on to you. If they have been involved in the Detroit real estate market for a while, they are likely to have formed business relationships with other real estate professionals in the area. Having an experienced person on your team will likely afford you some perks you might not find with a newbie.
What Do Other People Have To Say?
The wholesaler you work with can tell you a lot about their background and what they do, but it is always good to see what other people are saying about them. Ask to see testimonials and see if people are willing to talk with you about their experience. Network with other investors and see if they have any recommendations or insight on who to work with. Investors and flippers often use property wholesalers to purchase property and will likely be able to help you find the best!
They’re Not Pushy
A great wholesaler isn’t going to be pushy. They are investors just like you and understand that you also need time to do your due diligence. They will allow time for an inspection and for you to research the title. By working in a courteous and professional manner, they will be able to (hopefully) build a relationship with you, leading you both to future win-win situations.
Check Their Math
A wholesaler will present you with all sorts of numbers and figures. Just because someone says a property is being sold at a wholesale price, doesn’t necessarily mean it is. You need to research the property on your own, not just trusting what you are being told. Verify the comps they provide you are accurate and that all of their numbers add up.
Get A Second Opinion
As with any property purchase, it is good to consult a professional. Whether you speak to a trusted real estate advisor, a financial planner, an account or lawyer, make sure you are getting unbiased opinions from people you can trust. Before you sign on the dotted line, always have your lawyer review your contract. When everything is done by the book and with a professional title company, you shouldn’t have any trouble purchasing a wholesale property in Detroit.