In the Washington State area

[Jessica Krueger]

Looking to connect with others. New to learning the real estate business. Interested in wholesaling and flipping. Any advice would be greatly appreciated.

[Steve Vaughan]

Originally posted by @Jessica Krueger:

Looking to connect with others. New to learning the real estate business. Interested in wholesaling and flipping. Any advice would be greatly appreciated.

Welcome, Jessica!

My advice to a WA wholesaler would be to assign, not buy. Excise tax here will run about 1.7% of PP each time the house changes hands.   

Transaction costs - factor them into your numbers if flipping.  Thankfully WA doesn't have income tax, but uncle sam, the realtors, closing agent, title insurance and excise tax etc all cost a lot. Reduce your expected profit by about 30% to account for these.  

Of course, both wholesaling and flipping small scale are just jobs.  Glad to have you!