I’m eager on getting my first deal, with that being said is trying to wholesale a home that’s worth 50-75k worth trying to get into contact with the seller? Will I be wasting their time as well as mine?
Any idea of renovations needed or retail market price?
@Blake Garcia from the outside looking in I’d say roughly 10-15k. However I’m no contractor so I don’t want to give out a false number.
Make sure to have a reasonable ARV. If wholesaling remember you need to have enough for remodel, buyers profit, and profit for you as well. A phone call just for practice can't hurt. It's somewhere to start since you're at no risk until there's a contract signed.
Assuming you will have a weeks worth of phone calls and running and arranging with buyers, sellers, closers, make sure to have a 3-5k spread for yourself. Possibly less, if you're looking for experience, but it needs to be better than gas money.
@Blake Garcia thanks for your advice man, I’d plan on making 2-5k on this deal, I’m going to skip trace the owner because cold calling is a must practice! Any tips on cold calling btw?
Check with @Derek M. He arranged a long-shot deal we did together several years ago. Also, he's from TX so he will be familiar with how to do things.