Wholesale or Wholetail for a beginner!

4 Replies

@Parker Collins ,

No one can answer that question for you.  You have to decide what works best for you.  Compare and Contrast.  Look at the pros and cons.  Look at the nuances about how you can structure the deals.  Do you have funds to purchase the property, or do you have access to private or hard money lenders?

Now people can post what they think they would do.  Wholesaling is more hands-off with respect to the property.  You're negotiating between the buyer and seller and generally not touching the property.  Wholetailing has you generally taking ownership of the property, fixing it up just a bit, and then selling it.  This is way more involved, and potentially more profitable.  Not to mention, no one would accuse you of brokering without a license.

Good luck!

@Barry Pekin in regards to wholetailing. You would take the contract, front the money for the repairs, then post it on the MLS for sale? Is this correct. Thanks for your previous reply Barry. Have just recently gotten out of playing in the NFL, and was looking for something for the future!

@Parker Collins ,

I haven't focused on wholetailing just yet.  However, it's effectively light rehabbing as I understand it.  You would purchase it, do some minor repairs, and then sell it.  Your target buyer is most likely a retail home buyer who's looking for a good deal where they might do more upgrades once they own it.

I'm sure there are several variations you could do as well. REI is a creative business. It's all in how you can envision the deal.

You're smart planning for the future.  Good luck!!

If you are just starting out I would suggest you just wholesale it. That way you are only learning one business instead of two. Find a deal in Augusta and I will buy it! 

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