SFV Rookie Los Angeles

[Juan J.]

Greetings BP!

My name is Juan J. Myself along with my sister are starting out investors from LA, San Fernando Valley to be exact. We have some capital and would like to buy and flip but would like to get practice by starting with wholesaling. We made offers on properties from the MLS but no luck. After running numbers offers always come out to a little more than half the asking price. Is this a norm? Most offers are based off a full general rehab. What formulas or what ways are other wholesalers coming up with offers?