Wholesaling

[Frank Edmondson]

Greetings!

I have a few questions I would like to share with the community and I appreciate any feedback given.

1. How are you guys finding your wholesale deals? I personally drive communities looking for abandon or vacant homes and follow up to find owner.

2. I've had several owners on the hook and they eventually decided not to sell. I know this is a numbers game but how common is this from your expereince ( PRO wholesalers)

3. Take a look at my first deal numbers (See below) that fell apart and let me know if those numbers made sense. Is it normal to make $30K on these assignments? 

Under contract for 40K, assigned to investor for 70K, 25-30K in repairs, ARV $139,900

[Kim Ford]

I agree with Stephen Anderson regarding fees. I charge between $3500 - $5000. I'll do $7000 for a JV deal. I don't look for $10,000. I've come across wholesalers who have done this and they get discouraged because buyers won't work with them. Many times a deal is only $3000 - $6000 max from my experience. I like to give the buyer a lot of room because he is the one purchasing the property and has to do the renovations, not me. Also, I want them to keep coming back.