All Forum Posts by: Ethan Bowdoin

I would make sure that if you start wholesaling that you really understand your market and have a good understanding of repair cost. Here in Atlanta, you can have 1 street where homes are going for $350,000 and the next street over the same house may only be worth $275,000 so really knowing your market is important. Another big thing is making sure you have a good idea of how much it will actually take a flipper to rehab the house. Too many times I see wholesalers advertising a property that needs a new kitchen, new roof, and all new floors and appliances for 20K in repairs and an ARV inflated by $50k because they are not familiar with their market. The paperwork is honestly the easiest part and if you can get accurate numbers on your deals you will already be better than 90% of wholesalers. Good luck!

Who's flipping in Atlanta or the Metro Atlanta area right now? Would love to network!

@Roger Casanas Thanks so much! I'm going to check him out for sure. Before I do let me just ask. Could I literally set out with 500 bucks in my pocket and successfully complete a wholesale deal? I am younger and lack significant capital.

@Frank Geiger Okay so basically in a double close I would buy it then immediately turn around and sell it. So in the other option of assigning the contract I would never pay the original seller out of my own pocket? and I would never take ownership that way correct? 

Can somebody explain to me how exactly wholesaling works? I understand you are assigning a contract to your buyer, but when you offer to purchase the property for say 50K then you sell it for 70k at what point is the original seller paid? Do you pay them the 50k up front? Or do you pay them the 50k after you sell it for 70k then just keep the extra 20k? I am just confused on the process and how to do it.

@Kiera Underwood What is house hacking? I have heard that term thrown around before but I never really looked into what it was.

Hello, I am a 20 year old Realtor from Atlanta, GA. I am wanting to get into the investing side, but I have a problem. I have absolutely no money. What are my options in terms of getting started with no money? I know that I want to start on small fix and flips. Is there anyone in the area that would be willing to speak with me further?