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Nicholas Lovelace
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New Member, Wholesaler Looking To Get Into Developing

Posted

Hello Everyone! 

My Name is Nick, I'm new to the BiggerPockets Community. I'm 22 and located just outside of Philadelphia. Since I was younger I've always loved real estate and knew I wanted to do something with it. I have been wholesaling for about 2 1/2 years. In those two years I closed 23 wholesale transactions. I've learned how to confidently underwrite deals, negotiate, and also learned how to manage unexpected situations that could effect the outcome of the deal. I also have been doing work in my own house fixing everything up and updating as much as possible. I used to want to get into just fixing and flipping but lately I've been running into some properties that either need to be knocked down, have a couple acres of land, or just strictly are a piece of vacant land. As much as I could wholesale them, my mind has been just imagining what I could possibly build there and what it could look like once everything is finished. I know developing isn't as easy as most people make it seem but I'm ready to put my brain to work and deal with whatever it comes with to be a successful developer. I've been doing as much research as I can to actually get my foot into the door but some questions I have still don't get answered. Mostly its about getting funded to be able to actually do the builds, what permits exactly do I need to get and when in the process is the best time to get them so everything goes as smooth as possible. Where to find contractors and architects that are actually good. And many more questions. I look forward to learning new things and meeting new people in this community. If anyone is developing now or has experience in it I'd love to sit down, take you to lunch, build a relationship and hear your story to learn some new things or possibly get a chance to intern with you! 

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118
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Jesus Suarez
  • Lender
  • TX, FL
42
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118
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Jesus Suarez
  • Lender
  • TX, FL
Replied

Nick, closing 23 wholesale deals by age 22 is seriously impressive work!

I couldn't agree more with your shift—taking raw land and building from the ground up is easily the most rewarding play in real estate. But it’s also one of the most complex. Managing permits, contractor timelines, and strict bank draw schedules means one wrong step can quickly turn disastrous.

As a lender who deals with construction loans all the time, my best advice is to partner with an experienced developer on your first build. Leveraging their track record makes getting bank funding way easier, gives you a hands-on masterclass in permitting and deal structuring, and protects your capital.

Once lenders see that completed build on your record, you’ll have the credibility to fly solo on the next one. Keep crushing it!

  • Jesus Suarez

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