Wholesaling in Indianapolis in 2020?

6 Replies

Greetings All! In an effort to apply my knowledge, learn more as I work, and raise capital for future BRRRR investments, I'm ready to begin wholesaling in the Indianapolis market.

As an investor, what are your main recommendations or desires for working with wholesalers to find great deals?

Also, are there special/legal guidelines a wholesaler should/must adhere to (that are unique to this area)?

Any relevant feedback is very welcome...

Originally posted by @Kerry Noble Jr :

all imma say is move with integrity.....work with those that have more experience....like a mentor ship......and give it your all

Kerry, thank you for your words of advice: Integrity, connecting with those experienced here, and committment - definitely. Would like to learn more about your journey and path in real estate, if you're open to sharing. I'll send a message.

@Jason Powell

Find a niche of property type and location.  Get very good and marketing and extracting deals at prices realtors, flippers, rehabbers, can't find on their own.  Build a strong buyers list.  Operate with integrity and honesty.  

Most importantly, don't be greedy.  I have no problem with wholesalers making a nice profit....so long as there's some left over for the guy taking the majority of risk...me!   Most deals I see from wholesalers are taking too much of the profit of the deal through their fee and leaving me with the opportunity to make a small return, only if everything goes perfectly.  Pro forma with rehab budget projections of 10-20% less than actual, sale prices/rental projections of 10% more than you can actually get.  

@Paul Shannon very helpful feedback. You bring up how having a good wholesaler is valuable! And I'm glad to know you point out matters like integrity and concrete examples of what not to do: like grossly underestimating rehab costs, or projecting higher values/rentals than the market will allow. Thank you!!

I'd be curious to know more about your journey in real estate and what you're currently doing. So, I'll check out your page.