First time buy - wholesale?
4 Replies
Nick Gavrilov
from Bellingham, WA
posted about 1 year ago
How can I find a wholesale buy? Homes in our area are difficult to find for a long-term rental that bring $100+ monthly after bills. Ty so much!
Vincent Incopero
Attorney from Elmhurst, IL
replied about 1 year ago
@Nick Gavrilov - You may want to venture out of state for such little ROI. WA is an expensive market.
Turnkey providers exist on BP. IMHO, Wholesale may not be the best play if you are just getting started.
Nick Gavrilov
from Bellingham, WA
replied about 1 year ago
@Vincent Incopero thank you Vincent! I’ve been listening to the podcast and wondering if there are people who do wholesale multi-units. We made a really nice profit on our previous home and used the proceeds to build us a house free n clear. Now considering taking out $350-440k equity to begin. Any suggestions?
Vincent Incopero
Attorney from Elmhurst, IL
replied about 1 year ago
Debt averse by as a result of higher education loans.
I'm not the one to give financial advice outside of $100 ROI on a 200k+ asset sounds at best, like a hostage situation, and at worst, financially ruinous.
With that kind of $$ down (with or without leverage) you should be able to see a healthy cash on cash return in many middle america markets.
Nick Gavrilov
from Bellingham, WA
replied about 1 year ago
@Vincent Incopero right on, thank you very much!