New to wholesaling, two months in- where to go from here

Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes

@Chris Wilkinson I mean, knowing the ARV of a home is helpful as a wholesaler but not really required. And knowing rehab is even less important. Your most important piece is finding deals and growing your buyer's list. I see PLENTY of wholesale deals that don't have any rehab numbers with them. And I still buy the properties. I would also recommend to really diversify your leads. Getting leads through agents can be tricky. It can work, but most of the best deals come off market. One of the things I might recommend is to network in some real estate groups local to you. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. Some of those facebook groups have thousands of members. Oh, eventbrite too. At those groups you can build your buyer's list but you can also see what other wholesalers are doing as well.

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Lee Burns

Investor · Chicago, IL · Member since 2018 · 333 posts · 160 votes

2mo

Congrats on tackling your first wholesale deal! I tried to wholesale a few times but never got the hang of it so I'd be interested in hearing about your journey. Have you shared the details anywhere and how are you sourcing EMD funds?

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Vijay FriedmanBusiness Member

Miami, FL · Member since 2026 · 766 posts · 123 votes

2mo

Quote from @Chris Wilkinson:

Hey everyone thanks for reading.

I started my wholesaling journey about two months ago. Within the first few weeks I had my first deal through an agent and that closed on July 1st, since then, I’ve been trying to improve my understanding of the business and flesh out my process, but lately I’ve been spinning my tires a little bit.

My biggest pain points are:

-Understanding comps: My comping is miles better than it was when I first started, but there are times when I still struggle to find an ARV that I'm fully confident in. If you had to put together a top 5 must knows for comping what would they be? What are the deadly sins? (Aside from crossing major roads, or not being in the right range for build date/ sqft/etc)

-Estimating rehab costs: This is the bigger monster in the closet. There will be times when I feel very confident in my ARV, but not so much on my rehab estimates. Are there tried and true ways to get a close rehab estimate within +-10-15%?

-Lead sourcing: At the moment I work exclusively with agents and put a strong focus on building lasting relationships with the agents in my circle. However, working with agents can be difficult because your numbers can be very data driven and clean, but if a seller has unrealistic expectations that can leave you stuck. When it comes to reaching out to agents, what approach do you find that you’re more open to as an agent, what makes you immediately want to hang up the phone?

In regards to those pain points, if anybody has any advice for improving those systems, or just any general advice for getting a new wholesale operation off the ground I’d be truly appreciative. Thank you for your time- looking forward to reading your replies!

@Chris Wilkinson
Congrats on getting your first deal closed—that's a great milestone. On rehab estimates, I've found that having a few trusted contractors walk properties early can really help calibrate your numbers over time. For agent relationships, consistency and giving clear feedback on why a deal does or doesn't work usually goes a long way. Sounds like you're building the right foundation.

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Josiah Garcia

Member since 2026 · 232 posts · 35 votes

2mo

Two months in and already closing deals—that's solid. I run an automated system that pulls distressed properties from probate, foreclosure, tax-delinquent, and code-violation records before they hit the MLS, and it's been feeding consistent leads to wholesalers in San Diego, Fresno, Indianapolis, Cleveland, and Albuquerque. Most wholesalers I work with find 3–5x more off-market deals this way than through agent channels alone. Happy to share what we're finding if your market is one we're tracking.

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Stevie Seabreeze
Member since 2026 · 1 post · 0 votes
2mo
Quote from @Josiah Garcia:

Two months in and already closing deals—that's solid. I run an automated system that pulls distressed properties from probate, foreclosure, tax-delinquent, and code-violation records before they hit the MLS, and it's been feeding consistent leads to wholesalers in San Diego, Fresno, Indianapolis, Cleveland, and Albuquerque. Most wholesalers I work with find 3–5x more off-market deals this way than through agent channels alone. Happy to share what we're finding if your market is one we're tracking.
Josiah
Im interested in this automated system for distressed properties
Is a system you designed? How can i try it out?

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Lucas Flowers

Virtual Assistant · Egypt · Member since 2026 · 51 posts · 15 votes

2mo

On the lead sourcing/calling side, the fastest way to get hung up on is sounding like you're reading a script or asking for something before establishing why you're calling. What tends to work better: state clearly and quickly who you are and why you're calling, then ask a genuine question instead of pitching immediately. Agents get a lot of cold outreach, so the ones who stand out are the ones who sound like they've done their homework and aren't wasting their time. Also, following up consistently at the times you say you will matters more than the first call itself; agents remember who actually follows through versus who reaches out once and disappears. Can't speak to the comping/rehab side, but the lead sourcing piece is something I've spent a lot of time on.

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Ni Robinson

Real Estate Consultant · Rochester NY · Member since 2026 · 20 posts · 12 votes

2mo

Solid questions, I'll take a shot at all three since I'm knee deep in this across a few markets right now.

Comps, top 5 must knows:

Match on condition, not just specs. A fully renovated comp two blocks away is not your comp if your subject needs a full gut. Pull comps that match the after repair condition you are targeting, not just bed/bath/sqft.

Watch your comp date range. In a market moving fast, anything past 90 days can already be stale. In a slower market you can stretch to 6 months, but say so out loud when you present the number.

School zones and micro neighborhoods matter more than city limits. Two streets can have wildly different ARVs even though they look identical on a map.

Check for pending and under contract listings, not just solds. They tell you where the market is heading, not where it was.

Deadly sin, don't average outlier comps into your number. If one comp is 20% off from the rest, throw it out or explain the gap, don't blend it in and call it clean data.

Rehab estimates within 10 to 15%:

The fastest way to tighten this up is building a per square foot range by scope tier, cosmetic, moderate, full gut, and adjusting from there. Cosmetic refresh runs a certain range per square foot in most markets, moderate rehab with kitchen and bath runs higher, full gut with systems runs highest. Once you have those three buckets dialed in for your specific market, most properties fall cleanly into one, and you are estimating from a range instead of guessing from zero every time. The other move that helps a lot is getting one contractor you trust to walk properties with you or off video for the first several deals until your eye catches up. Rehab is the one number experience fixes faster than any spreadsheet.

Agent outreach:

What makes me want to keep talking, an agent who leads with the deal, not the pitch. "Here's a property, here's why the seller is motivated, here's what I think it needs" gets my attention immediately. What makes me hang up, agents who lead with a script about "opportunities" before giving me a single real detail about a property. I want proof they understand distressed sellers and off market deals specifically, not just retail listings. Ask them directly what their last three off market conversations looked like, that tells you fast whether they get it.

On my end, I built a simple intake process so agents know exactly what a lead needs before they send it to me, property condition, motivation, timeline, seller flexibility on price. It cuts down on back and forth and keeps agents from wasting time on leads that don't fit. Worth building something similar even if it's just a shared doc or form, it filters out a lot of noise early.

Good luck getting the operation off the ground, the fact that you are asking these three questions early puts you ahead of a lot of people who wing all three.

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Travis Goodwin

Wholesaler · Charleston WV · Member since 2026 · 246 posts · 137 votes

2mo

Congrats on getting your first deal within two months. That's a great start. I disagree with the idea that wholesalers don't need to understand ARV or repairs. If you can't accurately evaluate a property, how can you negotiate with confidence, protect your buyers, or even know if you have a deal?

When comping, stay as close to the property as possible. Pay attention to the neighborhood, school district, square footage, construction style, condition, and recent sales. Don’t force a comp just because it supports the number you want.

Rehab estimates come from experience. No formula will make you accurate every time. Walk properties with contractors, create a repair checklist, learn your local labor and material costs, and compare your original estimates with the actual costs afterward.

I’d also start adding direct to seller marketing. Agent relationships can produce deals, but if that’s your only lead source, you’re depending on someone else for your opportunities.

1 Reply

Lydia R.

Investor · Austin TX · Member since 2016 · 1k+ posts · 2k+ votes

2mo

Quote from @Chris Wilkinson:

Hey everyone thanks for reading.

I started my wholesaling journey about two months ago. Within the first few weeks I had my first deal through an agent and that closed on July 1st, since then, I’ve been trying to improve my understanding of the business and flesh out my process, but lately I’ve been spinning my tires a little bit.

My biggest pain points are:

-Understanding comps: My comping is miles better than it was when I first started, but there are times when I still struggle to find an ARV that I'm fully confident in. If you had to put together a top 5 must knows for comping what would they be? What are the deadly sins? (Aside from crossing major roads, or not being in the right range for build date/ sqft/etc)

-Estimating rehab costs: This is the bigger monster in the closet. There will be times when I feel very confident in my ARV, but not so much on my rehab estimates. Are there tried and true ways to get a close rehab estimate within +-10-15%?

-Lead sourcing: At the moment I work exclusively with agents and put a strong focus on building lasting relationships with the agents in my circle. However, working with agents can be difficult because your numbers can be very data driven and clean, but if a seller has unrealistic expectations that can leave you stuck. When it comes to reaching out to agents, what approach do you find that you’re more open to as an agent, what makes you immediately want to hang up the phone?

In regards to those pain points, if anybody has any advice for improving those systems, or just any general advice for getting a new wholesale operation off the ground I’d be truly appreciative. Thank you for your time- looking forward to reading your replies!

Congrats on your first deal in such a short time! That is definitely the exception not the rule. How did you source the buyer for the deal? Was the property on market or off market?

To respond to your questions/pain points:

Comping: the more you do it the better you'll get at it. It just takes practice. One pointer I can give you is this. Look for the ARV and the CMV (current market value) because sometimes you'll be in a neighborhood where homes aren't being renovated. They are just sold in 'well kept' condition. So you won't have an ARV. Instead you find the CMV by comparing your property to the other well kept or modestly updated sales. And you shoot your offer below that. Remember, your end buyers arent going to use your numbers. They are going to do their own underwriting so get close but dont spend an hour trying to get to an ARV. Get close and take note of the comps you used to determine value. Also look at the number of active properties on the market. If its high, then even though you have an ARV you need to give it a haircut to compensate for the excess inventory. Also look at DOM. High DOM means flippers are going to either want massive discount or pass altogether. So make sure your buyers list has some buy and hold investors on it too.

Estimating repair costs: Another thing you learn the more deals you do. Get a contractor to come out and walk with you. Go into active flips that you see while driving around. Ask the subs what the work cost. "Hey I see you put in new floors in the whole house, what did that cost, materials and labor?"

Working with agents is an interesting lead source strategy. You probably should include something more scalable to keep lead flow more consistent. Working with agents is a good secondary strategy, but you have to train them on what you're looking for. They need to think like investors not as agents. If you can get them to bring you leads off market and give you the chance to make a cash offer before they start the process of getting the property listed, you can have a solid pipeline.

If there is anything specific I can answer for you, don't be shy about asking.

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Ken M.

Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes

2mo

Quote from @Chris Wilkinson:

Hey everyone thanks for reading.

I started my wholesaling journey about two months ago. Within the first few weeks I had my first deal through an agent and that closed on July 1st, since then, I’ve been trying to improve my understanding of the business and flesh out my process, but lately I’ve been spinning my tires a little bit.

My biggest pain points are:

-Understanding comps: My comping is miles better than it was when I first started, but there are times when I still struggle to find an ARV that I'm fully confident in. If you had to put together a top 5 must knows for comping what would they be? What are the deadly sins? (Aside from crossing major roads, or not being in the right range for build date/ sqft/etc)

-Estimating rehab costs: This is the bigger monster in the closet. There will be times when I feel very confident in my ARV, but not so much on my rehab estimates. Are there tried and true ways to get a close rehab estimate within +-10-15%?

-Lead sourcing: At the moment I work exclusively with agents and put a strong focus on building lasting relationships with the agents in my circle. However, working with agents can be difficult because your numbers can be very data driven and clean, but if a seller has unrealistic expectations that can leave you stuck. When it comes to reaching out to agents, what approach do you find that you’re more open to as an agent, what makes you immediately want to hang up the phone?

In regards to those pain points, if anybody has any advice for improving those systems, or just any general advice for getting a new wholesale operation off the ground I’d be truly appreciative. Thank you for your time- looking forward to reading your replies!

There are systems that help the processes that take a little explaining and some time to get set up. You should be setting your goal for one a month at a $20,000 fee to start out. Since I've never worked with agents I can't help you there. My experience is that agents either can't do it themselves or are so focused on trying to make their own business happen, they are ultimately of little value to wholesalers. A lot of agents view wholesaling as encroaching on why they became agents, without the overhead and licensing.

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Mohammed Rahman

Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes

2mo

Hey Chris,

Honestly, getting a deal closed within your first few weeks is a great start. I’d focus less on trying to perfect everything at once and more on building a repeatable process.

For comps, I'd prioritize recent sales, proximity, similar property characteristics, and most importantly, comparing the actual condition of the comps to the subject. ARV can get distorted pretty quickly if you're comparing renovated properties to properties that need work.

For rehab, I wouldn’t expect to consistently hit within 10-15% from the beginning. Build a simple cost-per-sq-ft framework for the major categories, then refine it with actual contractor bids as you see more projects. The more properties you walk, the better your estimates become.

On the agent side, as a broker, I’m much more receptive when an investor can clearly explain their numbers rather than just saying, “I need this price.” If your offer is below the seller’s expectations, explain why. Agents can then actually communicate that to the seller.

I’d also keep building those agent relationships even when there isn’t an immediate deal. Being the investor an agent thinks of when they have a property that needs work is incredibly valuable.

Good luck! Always happy to connect and help any way I can - my DMs are always open.

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Luis Alvarado

Lender · Bella Vista, AR · Member since 2019 · 17 posts · 4 votes

2mo

dude! congrats on what you've accomplished thus far

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Igor Ganapolsky

Coral Springs, FL · Member since 2018 · 495 posts · 111 votes

1mo

Chris, on comps confidence, the five that matter most for me in Phoenix-style tract markets: 1) sold in the last 90 days, closed not pending, 2) same subdivision or same side of the same arterial, 3) within 15% on square footage and same story count, 4) build date within about 10 years unless the whole pocket is one era, and 5) same lot situation - no backing-to-freeway comp for an interior lot. The deadly sins are averaging instead of bracketing (find one clearly worse and one clearly better sale and land between them), and comping to renovated flips when your buyer is delivering a rental-grade rehab. Two different ARVs, two different offers. On the spinning-tires feeling: track leading numbers instead of outcomes for 30 days - contacts made, offers presented, offers per deal. Once you know it takes, say, 25 offers to get one signed, a slow week stops feeling like failure and starts being a math problem. And write your own rehab range before you ask a contractor, then compare - that's how the estimating muscle grows fastest.

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New to wholesaling, two months in- where to go from here

New to wholesaling, two months in- where to go from here

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