What do you consider the basics of wholesale real estate?
% equity needed to buy?
any deal breaker repairs?
lead sources (Chicago if possible)?
Just trying to seperate the meat from the bone. Everyone seems to be an ‘expert’ but like anything else, there has to be some comonality to the criteria of RE one would want to put under contract.
All thoughts are appreciated.
Thanks in advance.
I’m sorry I have little-to-nothing to add. I just wanted to “watch” this thread for replies.
Karla in Amarillo
I also had to read this post, anyone calling themself the “wholesale whore” deserves some respect!
My advice is to contact investors, the people that you intend to whore to… I mean wholesale to… and they should be able to provide you with specific criteria that must be met in order for them to purchase.
One investor may require 75% FMV max, another investor may only be interested in homes 500K and up, and yet another investor may not be interested in any rehabs, just buy and holds.
Once you have a nice list formed of interested investors you can begin your search for the exact criteria needed.
Thanks Andy. I threw an ad on Craigslist and already have a few investors on file.
Did you tell these people on Craigslist that you were adding them to your list? What state/area are you from?
im in chicago wholesaling as well. It really depends on how much equity is in the property as well as the condition. aaron