1st Potential wholesale

[Alfonzo Roberts]

I am planning to view a potential wholesale property in Oaklyn NJ. My goals are to wholesale/flip a few properties until I reduce my personal debt by about $50k; thereafter I will flip and hold full time with full intentions on leaving my secured fulltime job (errr). I may be viewing my first property within a week if the current epidemic doesn't stop it. This would be my absolute first deal and I had intended on flipping my first job but this wholesale opportunity fell into my lap. Where is the best place to get a free contract? Also, should I pay to have a contractor go with me to view the property for repair estimates or overestimate my guess? Any suggested sites on the best place to post the job? Does paying sites offer more of an opportunity to close a deal? Is there a site where I can get a decent check-off list while walking through the property on what needs to be worked on. Thanks in advance.       

[Alfonzo Roberts]

To conclude this experience I'd like to share the outcome. The seller was asking for no less then $200k. As a novice, I walked through the home saw obvious work that needed to be done, did the comps and suggested $160K-170K. I also advised because I am new she get a realtor and put it on the market for her asking price and see what bites. She did just that and sold the property for $217k. Her realtor held her hand and helped her find a low-income residence. The rehab is now on the market for $399K!!!! I am happy for the seller as I built up a relationship with her. Did I blow the deal? Yes. Am I disappointed? Slightly. What did I learn - A Lot! I looked at the property as a buyer, what I would I pay for this property? And with the amount of cosmetic and structural work needed I would not have paid more then $170k because of the rehab cost. I estimated the rehab value at $250-$270. Never $399. The house is still on market (113 Cornwall Drive, Oaklyn NJ) and I am hoping it sells. I love real-estate and have been so excited preparing for my career. Wholesaling is awesome! BRRRR will my my retirement career as I expect to begin looking for my 1st property within 60 days. For those of you that share your knowledge and stories, thank you greatly. This novice will one day tell successful stories as well.