How to Start the Wholesale Process

[Carbella Cheek]

Hello everyone, My name is Carbella and I am new to BP , I am currently living in Colorado Springs. I have read the beginners guide and a few blogs and forums that have given me some very good incite on how to get started. My husband and I have recently been looking for properties to invest in. But because we are new to this we don't have cash on hand to start with so we are planning to you use a VA loan to purchase a property and do renovations while we live in the home for about a year before selling it. I was told by a real estate agent that it is not possible to get approved for a certain home loan amount and by a home that is cheaper so that you can use the remaining balance to RENO the home. He suggested that we purchase the home and live in it while we do renovations. Is this true or is it possible to do it the other way.

On the other hand I wanted to find out how to start the wholesale process. I have found a home that is priced great but it needs a bit of work. The home is in a desirable neighborhood. It has so much potential and a great back yard. I would buy the home myself but because of the condition it would not be approved for my VA loan. So I would like to get it under contract and wholesale it but I really don't know how to go about doing that. Any information on this topic is valued. This home is a hidden treasure and I know it will be great after it is renovated please help me to get this deal done

Thank You,
Carbella