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How To Buy a Nice Home Wholesale

Not All Discount, Bargain or Wholesale Properties Are Ugly

Wholesale Investors come across NICE homes in distress all the time. Sometimes they decide to sell a nice home at a significant discount just to move it quickly. The best way to know about these kind of deals is to be on the distribution list of a Wholesale Investor.

A wholesale investor usually markets any good deals first to the in-house distribution list, because if there is a buyer on that list it saves the investor a bunch of money for marketing, and there are usually no commissions involved. These savings are passed on to you if you're on the distribution list.

Cosmetic Repairs Only

Most wholesale deals will need at least some repairs. Make sure when you look at a wholesale deal that any repairs needed are only "cosmetic". Cosmetic repairs include carpet or flooring, and paint, as well as minor repairs in bathrooms, kitchen and bedrooms. Replacing light fixtures and appliances as well as landscaping would also fall into this category.

Get It Inspected

To be sure that any repairs are within the "cosmetic" range you should get the main structural components of the home inspected. On a "wholesale deal" you want to make sure that you don't run into surprises with major plumbing or electrical problems. The other main components are roof, foundation, heating and air conditioning. As long as these systems are in good shape you will avoid major headaches later.

Access Your Equity?

If you buy a NICE house at a discount it can be tricky to access the equity in the house very soon after the purchase. The reason is that most lenders find it hard to believe that you actually got a great deal on the house. Some lenders will require a waiting period (or "seasoning") of three to twelve months before you can get an equity line or a cash-out refinance. This is even true if you paid cash when you bought the house. However, if you have a good banking relationship and a good credit rating you can find lenders that will do it by shopping around until you succeed.

Thomas Bartke has been an active wholesale real estate investor for over 6 years. Sign up for his Nationwide wholesale distribution list at

Learn more wholesale secrets at his next FREE tele-seminar and get in on great real estate deals on a weekly basis!