making a checklist

If you were going out to look at properties for wholesaing what would your checklist look like?

Can you expand on that a little bit? Are you talking about a checklist for evaluating a property? Or a step-by-step checklist for processing a wholesale deal?

You want to have a good idea on what repairs will cost. This is important to be able to determine your purchase price.

Are you asking what parts of the property to evaluate? All of it.

I want to know about when your going to look at a property ou want to wholesale. What are the important things to look at or look for?

1.The numbers.

Can you buy it back of Market in order to quick sale it tomorrow taking into account who you are selling it to ?
The end user will pay more,He wants to live there. The rehabber will pay less.He wants to sell for profit. Who is on your buyers list that you want to market to and what type of buyer are they.

2.Look for properties that your buyers want.
3.Find any really good deal and the money/buyers will find you with little advertising.
4.You need to know your market area that you are farming/shopping.
5. Yes repair cost knowledge is a must second to market knowledge.
Good luck, Darin

Darin,

I have heard of people using a website or taking a contractor to look at the property with them. Of course the website is great but from my understanding the numbers tend to be wrong. However, I dont how many times a contractor will want to go look at properties that I never buy an only having a slim chance of actually getting the job.

Good news !!
You know what part of your team building to work on. Start talking and interviewing contractors. Or…go to Home Depot and spend the rest of the day w/pad and paper take notes on what things cost , get hourly rates for repair work and estimate. Ok, use homedepot .com from home.
You need to know the numbers or somebody who does ! Ever go diving in the Ocean at night with out a light ? Thats where you are now. Know the numbers …see the light.
You are at the beginning of your Journey. You are on the right path, it will get easier with a good Team. Let’s Talk , Darin

adayatatime

I have a checklist that I use for evaluating property. I use it for all properties I am looking at. This is only an estimate for repairs. I will send it to you via email. Let me know if you don’t get it.

tsimpson

You will have first to know your market and also all the cost that will be incurred.