Wholesaling business plan - Financial model
I'm working on my business plan for wholesaling; specifically the financial model section. Here is where all the fancy what-if projections go. However, I need some help. I'm specifically looking to wholesale in the LA area of southern CA. What I am looking for is just some basic ballpark estimates I can plug into the financial model section.
1. As a newbie, what kind of profit am I looking at for each deal in my area? $2K, $5K, $10K? I understand that part of this is how good of a deal I can provide, so let's go with an average here.
2. I absolutely plan on keeping track of all my expenses through GNUCash (think open source Quickbooks). Can someone share their numbers on business expenses or categories? An expense that I would really be interested in knowing is how much does it cost to get a real estate license in CA and the costs to maintain it.
As always, any insight that is provided is very appreciated.
Thanks,
Carlos O.