List of things before Wholeselling

[Kent Phillips]

I would like to start wholesaling, could I get a list of things a person should do to get setup before they begin looking for wholesaling deals? Or are there any good podcast episodes that cover this topic? I am thinking along the lines of: 

-get a website going

-establish phone lines and email addresses

-create an LLC

[Robert T.]

Spend some time with an experience rehabber so you can accurately project rehab costs.  @Aaron Mazrillo often states that to be a good wholesaler, you need to have first been a good rehabber.  I know this is not the order you are looking to start with, so spend some time learning how to estimate rehab costs.

Also, I wouldn't suggest setting up any kind of corporate entity until you have done 5-10 deals.  Everyone wants to start off with a entity of some time, but it's actually wasted money until you have some assets worth suing over.  Often, the people who are pitching legal entities have some financial incentive in the pitch.