It sounds like one of the biggest areas someone new to wholesaling can make mistakes in and be in a losing situation is wrongfully evaluating the ARV of a property they put on contract.Clearly with time and practice it will be easier to be able to valuate a property and know what the ARV is.

@liz brumer I will definitely keep you updated on my progress and I wish you success in whatever you do embark on!

I too am a young investor just getting started, and have found that it works well for me to break down my investing plans into short- medium- and long-term goals with various stratagies as I move along, similar to how James Vermillion is progressing.

Hope you're still making progress everyday.

You can find a 1% yield (this is the general rule of thumb that we use for initial evaluation off a rental property in Austin), but they usually go under contract very quickly.

I've thought about starting a progress thread, but I don't want to just add to the noise and detract from the quality posts of the seasoned experts.

I am approaching REI with a long term perspective and assuming I'm successful enough at it and enjoy it enough to progress, I'd eventually like to amass a large enough portfolio to make managing and developing it a full time endeavor.

Marie Poe suggested is what i was thinking once this convo started progressing however my mom works part time and i do no know if she has the income to get the loan.

Please take that into consideration when evaluating - thanks much!

I'm originally from Bellflower, CA (Greater LA area) and I worked on RE for about 2 years as a contract RE Inspector/Evaluator for a firm in Glendale, CA.