How Big Is Too Big For A First Deal?

[Jessica Gourdine]

Haven't gotten my first deal or even a phone call YET, but I did receive my 1st list today. I jumped on the MLS to take a look at the other houses in the area of the properties on the list and saw that some were upwards of $1M! I believe in the law of attraction, faith and all that good stuff so I allowed my mind to wonder what'd it'd be like to get my 1st deal on a $1M home and the type of profit I could expect from that. Then I thought, what IF my 1st deal is on a $1M home?!?! Would I have enough money for an earnest deposit? (I'm thinking for house like that, $10 wouldn't suffice). I don't want to have "weasel clauses" so what if the home passes inspection and is good to go and I don't find a buyer?

I'd probably go for it with a lot of help and advice along the way, but are there some deals that new wholesalers should just stay away from, purely because of lack of experience?