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Updated over 10 years ago on . Most recent reply
THE FIRST FLIP! Getting over analysis paralysis.
Hello everybody,
Thank you for reading this post. I am a 24 year old landscaper in tucson az and been studding real estate investing, in bigger pockets and been doing my due diligence for about two years and now i think its time to PULL THE TRIGGER.
I don't want to get stuck in analysis paralysis as i think I am ready. as im going to get for my first deal.
I met this wholesaler/flipper from a bandit sign(very common in Tucson). I just called this sign yesterday, told him I'm a new investor, and he text me a deal. "This is a good deal for your first flip" he said. Now, he seems like a very good guy, down to earth, even trusted me to go to the property, go inside and take a look at it.
I got privet money ready along with a team to rehab the property and a real estate agent to sell to market the property. But how can i know if he is trustworthy or is giving me a good deal? Should i even question that? Do i have to do that with every wholesaler that i come in contact? What is the exact equation to find out if his info is true? I just want to pull the trigger and my stupid skepticism is getting in the way.
PLEAS HELP!!!!
Most Popular Reply
You should be asking your realtor for the ARV numbers. Not his assessment of what he thinks. Your realtor will be selling it, always use real numbers. Get you contractors over and have them look at it if you don't know exactly what your looking at. All wholesalers know the numbers and percentages that your looking for and will try and bump up there ARV value to try and get a little more. You said that you have a team ready, have them take a look at it and if it looks good from your end pull the trigger.