Rental Property Investor · San Diego, CA · Member since 2018 · 25 posts · 5 votes
I am starting my Wholesale journey. Had a few things I wanted to clarify and see what you all do. I plan on hiring someone to look at properties for me, $50-$70 to walk through the property, takes videos and pictures for me. Do you suggest I hire an Agent for that area? Can I hire Agents for onesie twosie projects productively like that? I'm still trying to figure out what market I want to focus on. Would you ever considering hiring help through Craigslist for some average person to walk through for me? Second Question: how much do you usually pay for the inspection? Is there a certain type of inspector I should reach out to? (Are they all pretty general, or certain people for certain parts). And that is usually done within a ten-day period IAW the subject to that is added to the contract? And if the inspection comes back bad, that's when an addendum is added correct? Or inspection before any of the signing occurs
Rental Property Investor · USA · Member since 2018 · 66 posts · 48 votes
8y
@Mariah Sanchez
Great job on taking action & asking questions
Best bet is to find an agent who is trustworthy (ask here on BP for referrals - everyone is super helpful). Tell them your plan to wholesale & make sure they know you’re serious (have cash to close) as Daniel mentioned.
They will be able to do video walkthroughs, and decent agents will give you a rough estimate of repair costs. If you’re agent is good they will know good inspectors. A standard inspection should cost around $500-600, investor reports should be around half that cost.
Make sure you only do inspections on something you’re serious about buying otherwise costs add up real quick. Your contract will have an inspection clause so you can negotiate within a certain timeframe of the inspection or pull out if you arent happy with the reports findings.
Hope that helps
Ps - where are you thinking of wholesaling?
Rental Property Investor · San Diego, CA · Member since 2018 · 25 posts · 5 votes
8y
@Deep Johal Okay Thank You! I have been looking a lot into Tucson area just because thats the area I know the best. But I have also been cold calling around Memphis and Georgia just to see what sticks.
Rental Property Investor · USA · Member since 2018 · 66 posts · 48 votes
8y
@Mariah Sanchez
Do your numbers on the region first, then call around once you are hyper focused on an area - that way you put your calls to good use since they build your network