Out-of-state Wholesaling, Good? Bad? Ugly?

[Garrett Donham]

Hey Guys,

I am a senior in college and I am looking for ways to create income to finance my investments.  I am really interested in the idea of out-of-state investing and wholesaling, because the areas I plan on living in are not the best cash flow markets, and I am looking for cashflow in the beginning to fund my business.

My question to you all is: Do you think out-of-state wholesaling is a good idea and do you think there could be a credible business model here? I found out about the idea from some guy on instagram, and he does extremely well.  My goal is to start wholesaling to fund out-of-state rental investments, and then continue to create my own investment company.

And before I get backlash, I know there are a lot of issues with wholesalers working with little to no ethics.  I am committed to complete transparency and I do not wish to bleed sellers of their equity to increase my profit margins.  I am thinking anywhere between $2-5k at the most per sale.  Real numbers, real P&Ls, and real transparency, looking out for both the seller and investor.

Any thoughts and comments are appreciated!