Greensboro, NC · Member since 2026 · 1 post · 1 vote
I am new to this world of business and investing. I have been an entrepreneur for 15 years and had success with my ventures. Looking to expand my knowledge and build a portfolio. All info/help is welcome. All leads and connection are welcome. Basically, I am like a child trying to learn a new world. Looking to start with 1 rental house and learn about wholesaling. If you are a realtor, investor, seller... I do not know all the terms, please holler at me.
Welcome to the forum Daniel. I would start with narrowing down exactly what you want to do and why and then becoming very good at that one specific thing. Operating a rental might as well be a completely different business from wholesaling. In one you are looking to manage tenants, learn about taxes and write offs, find competitive financing. In the other you are looking to looking to build a lead generation platform to bring in distressed homeowners and build an investor network to flip those leads to.
Welcome Daniel. Since you want a rental first I'd start there, the numbers skills carry right over to wholesaling later.
Pick one area near you and learn it cold. Look at 20 or 30 listings a week and run each one. Rent, minus taxes, insurance, about 8% vacancy, 5% repairs, 5% capex, 8 to 10% management even if you plan to self manage, then the mortgage. What's left is your cash flow. After a month of that you'll know a deal when you see one.
A few terms you'll see a lot. ARV is what a house is worth after repairs. NOI is rent minus expenses before the mortgage. Cap rate is NOI divided by price. Cash on cash is your yearly cash flow divided by the cash you put in.
For wholesaling, go to a local REIA meeting and talk to the people who actually buy. Find out what they pay and what they want, because a wholesaler is only as good as their buyers list. And check your state's rules first, some states now require a license or written disclosures to wholesale.
Specialist · I give advice - [email protected] - I focus on states where investing is profitable, reasonably safe & secure · Member since 2026 · 169 posts · 59 votes
I am new to this world of business and investing. I have been an entrepreneur for 15 years and had success with my ventures. Looking to expand my knowledge and build a portfolio. All info/help is welcome. All leads and connection are welcome. Basically, I am like a child trying to learn a new world. Looking to start with 1 rental house and learn about wholesaling. If you are a realtor, investor, seller... I do not know all the terms, please holler at me.
Thank you
Daniel
First, realistically, most wholesalers way under estimate how expensive wholesaling is. An experienced wholesaler will spend $2200 on average to get a deal. Inexperienced wholesalers last about 6 months before they give up and go on to do something else. That's in a normal market. I contend we are heading into a challenging market.
Some cut down the length of time by teaming up with someone who knows what they are doing already.
@Daniel Leonard, let's talk. Love this! Been there done that as an entrepreneur. Fifteen years of running your own ventures counts for more here than knowing the terms. A rental and wholesaling pull in different directions, one is something you keep and the other is closer to running another business, so it helps to know which one you want first. There are some people I think you'd hit it off with, and I'll gladly connect you. Are you still running your other businesses day to day?