Operating expenses
Hi Everyone,
I'm putting together my business plan for wholesaling and trying to figure out what I will need for operating expenses and here's what I've got so far.
$1,000 for attorney fees (I figure I need to have them look over all contracts and documents that I'm going to use).
--$2,000 for marketing (I know it's lean but the idea is to invest money from my deals back into marketing).
--$500 to pay some contractors to give me estimates on houses I want to put under contract. I figure I'll pay him for his time (how much do you think is a fair fee per house?) and pay close attention so that I can eventually do it myself.
--$500 for education - seminars, books etc. (Thank you Josh for making BP FREE!)
--$200 for deposits on the first few houses I put under contract.
--$300 Networking. Take some existing wholesalers out to lunch to pick their brains. REIA membership etc.
Because I'm wholesaling I don't have to pay for appraisals or inspections right? Is this it? What am I missing? I can't afford to get broadsided with some obvious thing that I should have known about. Thanks so much, Kim