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Updated over 3 years ago on . Most recent reply

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Daniel Hurtado
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Is wholesaling still as profitable as pre pandemic?

Daniel Hurtado
Posted

I ask this as a newbie looking to start wholesaling this month

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

Wholesaling was never and will never be profitable compared with the amount of people who try it and fail miserably as @Account Closed suggested. Why are you looking to start wholesaling? If it's to make money to invest, work another regular job and you won't lose all your money. If you want to wholesale, ask yourself these questions. 1. How much money do I have for marketing? 2. How much real estate knowledge do I have? 3. Do I know how to calculate repair costs for every part of a house? 4. Do I have MLS access or someone with it and if so, do I know how to really judge the ARV of a property? 5. What money am I going to show to get these deals under contract to assign? If you don't know the answers, don't try wholesale.

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