Progress So Far

[Alex Jefferson]

Hello everybody.

So I started to really look into wholesaling this past August and I set out a plan to start placing homes under contract starting January 2012. In the 4 months prior to January I was going to build my buyers list, find an investor friendly lawyer (which I did thanks to the good people here at BP) and to learn as much as I can about the wholesaling business.
I currently have a buyers list of about 110 investors. 50 in NY and 60 out of NY. I feel as if I have learned as much as I can learn about wholesaling and now the only way to learn more would be to actually start the process.
Where I live, the average home is around $300,000 - $350,000.

I'll be looking to place homes under contract for about 50% - 60% of that. Here's an example...

Home as an ARV of $300,000
I place home under contract for $165,000
Place it on the wholesaling market for $175,000.
Profit potential of $100,000+
My assignment fee = $10,000

Am I missing anything?

Thanks, this board really is the best.