how to wholesale without ever looking at house

3 Replies

Sure, just like there are way to run a restaurant without ever cooking food, ways of running a newspaper without ever writing a headline and ways of running a car service without ever getting behind the wheel.

It involves hiring or subcontracting out all the work to other people who do these things for you.  Of course, you need to know enough to hire and manage these people, and you'll have to pay them for their time (generally even if you're not making money yourself).  Doing it this way requires great management skills and additional costs over doing it yourself, but it also may mean that you never have to visit a house yourself.

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I sell to just a few power players in my market. I know what their average per square foot rehab costs run. I use that number times the square foot of the house. Some houses need more work, some less, some right on budget. If you only sell the person one house, it might be a sour deal because the condition is much worse than your average budget deducted from the equity, but when you're selling them a dozen or more houses a year, the law of averages works in your and their favor. 

Know your market. Know your buyers. Know your numbers. Know your buyer's numbers.