Updated almost 10 years ago on . Most recent reply
New REI From Tacoma WA
Hey guys!
My name is Rhyan Kassuhn. I'm from Tacoma, Washington, which is about 45 minutes south of Seattle. I am new to BiggerPockets, and REI in general. I'm thinking about starting off as a wholesaler of houses to start off my jouney as a real estate investor. I pretty much know nothing at this point so i'm very eager to learn and take the right steps towards prosperity!
I'm very excited to learn from you guys and am looking forward to our collaborative successes!
-Rhyan
Most Popular Reply
@Rhyan Kassuhn - Hello and welcome to the Puget Sound REI community. As a new wholesaler, I would recommend one of the first steps you take is to dedicate a couple hours each week to scanning Redfin, the MLS, Zillow, or similar sites. Set the filter to the most recent 6 months of sales and get familiar what houses sell for. Get a feel for what a 3bd/2ba goes for as opposed to a 4bd/2ba. Learn which neighborhoods command a premium and which will have discounted prices.
As another piece of advice for a new wholesaler, I would also recommend being able to at least ballpark rehab/renovation costs. Spend some time at Home Depot or Lowe's, have a feel for material costs and speak to a couple of flippers or general contractors, be able to estimate labor with some degree of accuracy.
Hope this helps!