Wholesaling question (new member)
Hey I'm 21, I live in Texas and I'm new to real estate investing. I've been researching a lot on the subject for two months now and I've become really interested in wholesaling primarily because I don't have much cash right now and no credit. Today I started to take action and I went driving around looking for distressed properties that are for sale and I found three of them but they are all owned by real estate companies. (I don't know if that a bad thing or not) I've read in some books that's it's harder to wholesale a property if it is already on the market and it's MSL certified. Anyways I started researching on one of the properties and found out it was 45000 and a short sale. I researched properties around it and found out they were going for 60-80,000 so I'm guessing the market value of this house is around that price..i called the owner and found out it needs like $5000 worth in repairs and he's taking a 10,000 down payment. I asked him who the lender was but he said he didn't kno that information..do I need that information? It seems like a good deal to flip? I was going to use transactional funding to fund it. What do y'all think? Is it a good deal?