Working with a wholesaler in Philadelphia is one of the best ways to find a great deal on a property. Like with anything, there are things to watch out for. Learn more about these things in our latest post!
As an investor in Philadelphia, having a great wholesaler in your back pocket can be a huge factor in your real estate success. Working with the right wholesaler will save you time researching properties and they will save you money by finding the best deals out there. Just like any other major purchase, there are some things to be wary of when working with a wholesaler in Philadelphia to find the right property. Keep reading to learn more about a few of them!
Level Of Experience
Wholesaling is popular with all kinds of people as it is something that is pretty easy to get into. Little capital is needed. All one really needs is some local market knowledge and the desire to connect buyers and sellers who may not have found each other otherwise. While anyone can get into the business, novice wholesalers will lack the connections and the experience that more experienced wholesalers in [markt_city] can offer. An experienced wholesaler will have a number of different buyers they work with, giving you the best opportunities when selling. A novice wholesaler may not be able to find the right buyers for your house or pay you the price you need to get for the house.
As an investor in Philadelphia, you will want to work with a wholesaler who is on your side. You aren’t looking for someone who will try to sell you just any property so they can collect their fee. You are looking for someone who you can trust and count on to provide you the best deals on the highest quality properties. A great wholesaler loves what they do and is passionate about connecting buyers and sellers where it makes sense. They are knowledgable about the local market and thrive on creating solutions for people.
The Real Estate Market
Just because a wholesaler tells you a property is a great deal, doesn’t make it so. It’s up to you to do your due diligence to determine if the property will really be a smart investment. What are houses currently selling for in your area and will working with a wholesaler in Philadelphia be worth it for you?
The Property’s Condition
A wholesaler isn’t necessarily a property inspector. Don’t just take someone’s word for it. Instead, opt to have an inspection done before making the purchase. Properties are typically sold as-is, leaving you on the hook for any needed repairs after the closing has taken place. It’s important to know what you are getting into before signing on the dotted like.
While Philly RE Holdings and many other wholesalers out there operate with transparency, there are others out there who do not. They may claim to be ethical by including these hidden charges in the fine print, but these aren’t the kind of people you want to work with. As an investor, it’s important to know exactly what you will be paying without any unexpected cost from the wholesaler at the last minute.
Using a wholesaler in Philadelphia is a great way for local investors to save time and money. Always remember that not all investors are the same nor do they offer the same level of experience. If you are looking to partner with an honest, reputable, and transparent wholesaler in Philadelphia, we would love to hear from you! We are always available to answer any questions you have about working together or the market in general!