I see why people get fixed on wholesaling :)

[Daren H.]

So I recently wholesaled my first property. It really didn't feel like wholesaling the way it is described here on the site and by Podcasts. I purchased a property that I was going to fix and flip. ARV was about $180K. Rehab was in the $70K-$75K range. Major structural issues, masonry work and all the rest. Believe it or not, people were living there but it was a hot mess. I am not a big game rehabber but felt like experimenting :) I am more of $10K - $20K rehabber. I purchased the property for $52K. All in ~$54K with closing costs. Scheduled closing so I could use proceeds from a BRRR I had just completed. Spent $750 getting the junk removed and swept out. Had a dream this would be a headache (and fear of unknown issues with such a damaged house). I also had another easier deal I had good vibes about getting. Listed the property on Craigslist in the morning and had a contract finalized the next day. Sold the property for $69,750 and made ~$15K profit.

So my vibes were correct. I did get other property under contract. Because of my recent wholesale experience, ease of the transaction, and the quick payday, I immediately considered wholesaling the next property even though it fit my criteria for holding, which is my end game. The so called quick money had me hooked already, lol. It can be fast and stress free. Not to mention, in this market people are buying everything.