I'm going to be honest and share with you all that I am afraid to market myself for potential wholesale deals. I have listened to the podcasts and read enough material to understand the anatomy of a wholesale deal but I'm hesitant on one thing....
How do you evaluate a property to see if it's a deal or not? What cost/property details do you analyze? Any recommendations on a legitimate wholesale calculator?
I don't want to loose money on my first wholesale deal and that's what is keeping me from jumping in. Anyone feel the same way?
To evaluate whether a property is a good deal, you can use some general rules of thumb. The three main general rules of thumb emphasized here at BiggerPockets are the 2% rule, 50% rule, and 70% rule. You can search them up for more details on what they mean. Of course, due diligence and in-depth research will still have to be done - the general rules of thumb are only meant to save time in sorting through the countless numbers of deals you look at. If a deal satisfies general rules of thumb, it means you may have a good potential worth looking more closely at.
@Joshua Chen thank you for the info, that'll be a good starting point for me.
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