Property wholesaling is big business in the American housing market right now. When it comes to property, wholesaling is different from what it means in any other industry. Property wholesalers are flippers, who buy distressed properties cheap, and sell them for a few thousand dollars profit before the ink is even dry.
They are causing quite a stir at the moment because of the sheer volume of properties sitting on their playing field, and because of the immeasurable impact they have on the market.
For anyone that doesn’t know, wholesalers sell properties fast on behalf of people that can no longer pay their mortgage. They do not take ownership of the property, they simply take the owners contract and sign it over to the new buyer with their profit in the form of an assigning fee.
In March alone almost 370,000 properties received foreclosure notices, the highest monthly total since online foreclosure marketplace RealtyTrac began tracking them in January 2005. 2009 was a record year; with 2.8 million American homes repossessed, but, because of the growth this year culminating in the record-breaking March, analysts are fearful that this year could be even worse.
Wholesalers certainly are not fearful, if anything they are gleeful. How everyone else feels about their glee, and their business, is as mixed as the properties they have to choose from.
American comedian, game show host and former anchor man on “The Tonight Show”, 
