Wholesaling Preparing for my first flip

[Daniel Barba]

I’m currently wholesaling properties, sourcing deals directly from sellers and connecting them with investors, developers, and builders who see potential in the properties. It’s been a great way to learn the ins and outs of real estate investing while building strong relationships with contractors, private lenders, and other key players in the industry.

Ultimately, my goal is to wholesale while also flipping properties myself. Right now, I’m focused on stacking capital, growing my network, and refining my understanding of renovations and budgets. Some key things I’m working on to prepare for my first flip:

Building a solid contacts – Contractors, lenders, and real estate agents

Refining my rehab budgeting skills – Knowing accurate costs will help me stay profitable.

Understanding financing options – Working with private lenders

Learning market trends – Making sure I understand what buyers want to maximize resale value.

Preparing for the unexpected – Budgeting for unforeseen expenses to avoid major setbacks. Learn what those unforeseen expenses are and how to decrease the chances of ocurring 

For those who have made the jump from wholesaling to flipping, what are some lessons you wish you had known before your first deal? Would love to hear insights from those who have been through it!