All Forum Posts by: Bob Razler

@Bob Razler

Experience comes with time, you could do a JV on your first venture to learn the ropes from another wholesaler in your area if you haven't gone through any training and split the profits. Capital is actually surprisingly easy to come by when you have a deal, all you gotta do is hang out at your local REIA and network a bit or tap into your own personal network when you *know* you have a deal. The hard part, imho, for your first deal is making sure you analyze the the rehab costs and ARV based on comps. Because you are a homebuilding professional, that is a super big advantage in estimating rehab costs (it's probably one of the hardest things to learn starting off). Running comps isn't rocket science - look within 0.5 miles, within 3 months, preferably same neighborhood, adjust for sq. footage and conditions as needed.

If you are looking to wholesale your first deal you don't need that much capital to sustain a campaign (I'd start with minimum 200 targets due to response rates). However, based on your background I think you could provide a lot of value with the rehab management and potentially do a 50/50 with an established wholesaler where if they provide you with help on the contracts and capital, you provide the rehab management and you guys can flip the property together and both win big. If a wholesaler is established, they should have some spare cash lying around to fund a deal. You teach them on some of the rehab stuff too. Could be a great business partnership. So you'd be in charge of finding a deal, they would teach you how to do all the paperwork and the process of wholesaling and how to talk to the buyer. You'd guys would actually purchase it not as a wholesale contract but for yourselves to flip, then flip it and split the profits. They got the capital, you manage the rehab work.