What is your biggest 'out-sourced' expense, aside from contacting?

[Melissa Thompson]

My husband and I are just getting started on our real estate investment journey. We both are prior-military and have education benefits at our disposal from our time in. (Basically, we have some free schooling) I am looking for some advice on what education we should seek in order to maximize profit. So, that being said, aside from actual contractors doing labor in/around the home, what is your biggest expense? Realtors? Design? Legal aid?

Any input and advice is welcome. Thank you for your time!

[Dev Horn]

@Jay Neil is spot on - it's MARKETING. People don't plan for it, but once they get involved in this business, the cold hard reality hits - this is ALL about FINDING MOTIVATED SELLERS on a consistent basis and that is NOT cheap (but it can be reasonable given the ROI).

For some deals, the cost of MONEY can be another big expense. We've done some deals with private/hard money and the money was not cheap, but we made money on a house that we would not have done otherwise.