Originally posted by @Benjamin Gallant :
@James Gates I’m halfway through reading David Greene’s book and have had Huntsville on my mind while reading it.
It sounds like you really leveraged the power of relationships in this deal. How did you go about finding your wholesalers? Did you go to a meetup while on your trip or did you research contacts ahead of time and pre-set meetings with them?
I’m also curious how you estimated the rehab costs (before tacking on your contingencies). Did you have a guide you used or did the inspector help you form your opinion?
This inspired a lot of confidence and helped prove the proof in the pudding. Great job, looking forward to hearing about more of your future success stories!
I went about finding wholesalers through networking with other BP members. I reached out to individuals who were active on the BP Huntsville forum, got some contacts, reached out to them, and flew out and met them.
For rehab costs I recommend becoming familiar with the basic costs of rehabbing a home (for example 10K for a minor kitchen rebab, 5K for a bathroom, just general numbers), Jay Scott's book on estimating Rehab costs is also a good read. Also, the internet is a powerful thing. For this property I knew I needed to have the pool removed and filled in, I went to thumbtack.com and searched pool removers in Madison County, and was able to get an estimate for that job (which was really almost 1/4 of the rehab) in just a few minutes.