130: Rookie Reply: How to Spot Scam Wholesale Deals

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 13 November 2021

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week’s question comes from Rob on the Real Estate Rookie Facebook Group. Rob is asking: How do I make sure a wholesaler that is sending me deals is not a scam? With wholesaling, as with any other sector of real estate, you’re always going to have your good and bad actors. Many wholesalers are running professional businesses, but some are simply inexperienced, while others have malicious intent. Here are some suggestions on weeding out wholesalers: Have your attorney look over the assignment contract to ensure it’s legal If a wholesaler ever asks you to send funds directly to them, they’re probably not legit Know your numbers, so any suspiciously good (or bad) deals can be written off Contact wholesalers on your own so you can do due diligence upfront And more in the episode… If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Check the full show notes here: http://www.biggerpockets.com/rookie130 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, Episode 130.
0:07.9	What's up, guys? So welcome to the Real Estate Rookie, where we break down the basics. That way,
0:13.6	all of you all as new investors can understand the concepts and really take action and start building
0:20.0	financial freedom through Real Estate investing and where there is no dumb question to be asked.
0:25.9	So Ashley Care, I'm so excited to be sitting here with you today. What is going on with you? What's
0:30.7	new? What's up? It is great to see you as always, Tony Robinson and such a great introduction to
0:36.8	our new listeners. And we always love our loyal listeners who are here with us every single week
0:44.1	to learn more about Real Estate investing. And you guys have come to the right place today
0:48.6	as a rookie reply where we take a question that you guys have asked us. And we do our best to
0:54.2	answer it for you and break down how to invest in Real Estate. Before we get to the episode,
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2:19.8	Also, if you're not following Ashley now on Instagram, make sure you're doing that. She's at
	...

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