I am a licensed General Contactor in the city of Indianapolis, after being in charge of over 50 successful flips, I want into the game. Is this market too aggressive to find a true wholesale property? If not, where do I find them? Should I venture into these unknown waters?
Things to note about me!
*I have 10 years experience as a contractor, I am also able to complete a lot of the work myself or with a small crew because my father was a GC for 25+ years and started me in the trades young.
* My wife is an interior decorator with kitchen and bathroom cad design experience, she is also a home stager and can help with plans and lay outs.
* We have wholesale accounts with several large cabinet companies, and granite companies and can get huge discount on these supplies, along with flooring, roofing shingles, and carpeting and other supplies.
* My personal credit score is 700 and I have personal rehab capitol, but not enough to cover the home purchase and rehab costs.
Am I in a good position to try this on my own?
sounds like all you need is a good source of private or hard money to acquire the deals for you and youre on your way
Hey Rohan, I'm working closely with about 5 investors and I'm at the stage of developing a rock solid relationship with a contractor. Are you interested in working on flips or GCing still or no?
I would recommend connecting with a solid wholesaler and forming a relationship to find your own investment property!
Yes you are in a very good position to get this done.
What is the biggest struggle for investors?
The #1 biggest struggle is getting off-market motivated seller leads, houses at a decent discount.
The #2 biggest issue... is friggin contractors. All shady all scary, smelly.... but here you are... You don't have that issue... so you are in a good spot.
The money you would pay a wholesaler as their fee.... you could use to get a website set up and do some facebook marketing. Instead of 1 deal from 1 wholesaler... you could get 3 deals each deal with much better spread because you don't have to pay the wholesaler fee.
What .. I am brilliant, you say?
Yes I Am!