Updated over 9 years ago on . Most recent reply
Wholesaling Checklist
When it comes to wholesaling, there are so many moving parts. Do you guys have a step by step checklist that you follow to make sure no steps are missed and everything goes as smoothly as possible?? I'm sure everyone has their own way of doing things but I would like to get different ideas so I can see what may work best for me. All feedback is greatly appreciated.
Most Popular Reply
One thing to realize is that you are most likely selling to flippers. Keeping that in mind, the better you are at understanding their business, the better you are going to be at serving their needs. Many wholesalers do not.
This means that you need to have a really good understanding of what after repair values are in the neighborhood for comparable houses.
This also means that you need to have a good understanding of what the rehab costs are going to be.
Knowing these two variables will help you to establish how much you can wholesale your property for because if you are not bringing people deals, they will not buy from you. On the other hand, when you consistently do, you will likely find you can make a business from serving only a handful of serious investors.
Because:
Max price = ARV * 0.7 - cost of repair