I'm an Agent as well as newer wholesaler - currently wholesaling on market properties only, but working on developing an off market strategy. I have a decent business as an Agent, but had a client that wholesaled 3 properties on market through me over the Summer and opened my eyes to how much more money he made on those deals then me. Just curious if anyone is wholesaling here - it's a great angle with little to no money involved. I do have my first deal set to close later this month - this was an on market flip that I was able to wholesale to a flipper. As an Agent I was able to collect the sale commission, an assignment fee, and he signed a listing agreement with me when the flip is ready to go.

I've never wholesaled RE, but I've worked with people who do.

You can absolutely make some quick money at it.

It is also a GREAT way to get started.

However, the smart & wealthy people tend not to do it. The real money is made in owning RE.

One of the HUGE problems that wholesalers have is dealing with the income. That is taxed as "regular" income (short term gains).

If you hold RE long term, you can get all sorts of tax advantages that you would not get wholesaling.

So maybe wholesale some properties, get some experience, get some knowledge & capital. Then, start buying to own.

Okay - I'm not talking about buying and holding RE. That's a completely separate topic.

If you're wholesaling on market properties then your strategy essentially comes down to figuring out who the dumbest Relators in a market are that will advise their clients to accept an assignable contract on an actively listed property. If, as a Realtor, you are advising your clients to accept non-standard (e.g., non-Realtor approved) docs, then you *will* eventually get sued. And you'll deserve it.

Off market wholesaling is a marketing business more than anything else. Personally, I find it distasteful. It's mostly about taking advantage of people's ignorance about their property's market value. It's sort of like owning a strip club. It's not morally wrong, but not a business I'd feel good about being in.

I bought some land during the downturn and have been selectively owner-selling it since COVID.
I get contacted by these bozos all the time and none perform for ****.

Most of RE investing is predatory on the investment side - they tell you to target "distressed" Sellers, basically anyone who is down on their luck and to offer them significantly below market. Mutli families are the same thing - find a below market property, renovate it, then jack up the rents above market as single moms struggle to pay the bills. Unless you're buying property at market value (which no investors do) you are predatory - off market deals is where the smoke and mirrors exist, with little laws governing these transactions. The vultures are always circling - I'm sure plenty in this thread.

You're wrong about on market wholesaling - no one is using illegal contracts lol. These are board approved contracts that are assignable - attorneys are involved on all ends so there's no funny business like there is in off market. Also being on market you're paying close to a market rate so everyone is getting a fair deal - most investors don't like on market though as the margins are smaller of course.

One thing you might want to consider is networking with local real estate investors or joining local REI groups, as they can often be a goldmine for off-market deals. Also, driving for dollars, direct mail campaigns, or leveraging online platforms that list distressed properties could be great ways to build up your off-market strategy.

When I was looking into wholesaling and eventually selling one of my own properties, I found a company that really helped streamline the process and maximize my profits. They specialize in working with both agents and wholesalers, providing resources and tools to help close deals faster and with less hassle. If you're interested, you might want to check them out this link.

Wholesaling in Canada is dead.
Assignments are still permitted, but if there is any difference in price to an assignment, the original seller gets all of the lift.
This is specifically to prevent RE agents from aligning with a buyer to skim money from a seller.
This was commonplace before Canada made it illegal in 2018 for RE agents from representing the seller AND a buyer. (Dual Agency)
You can do it in some rare circumstances but it is now only a fraction of 1% of deals. ie. you have to be in a remote location and there
is only 1 agent in 50 miles.. etc.

It is possible to buy and sell RE in Canada without an agent, but you have to be pretty sophisticated to do so. In Canada, there is
a mountain of regulatory paperwork that has to be met by notary or lawyer to execute a sale. Another result of our banks getting hammered
with +100million dollar fines for money laundering through RE purchases into corporations.
We even have documents to identify the end user/owner of a sale.