All Forum Posts by: Luke Lyles

Thanks @David Michael!! I appreciate the feedback. Given the lower returns per transction, I'm thinking to reach the same level of extra income it would require just as much work to Wholesale in the end.

Thanks @Ronny Tiburcio!!

Thank you Andrew!

I will be posting this same post in the Rehabbing Forum Category as well..

I'm looking for some help thinking through some pros and cons of wholesaling vs flipping. Quite frankly I lean more toward flipping because I enjoy the process of seeing something transform (though that may change when doing it for money) and also because of the potential for higher returns. However, I am looking at doing this "part" time for the immediate future and am wondering if there are some advantages to wholesaling that I may not be thinking of - especially as it relates to building a wholesaling business on the side. I'm aware of the potential to get into wholesaling for less money than flips, but I know that wholesaling can be far more difficult than it seems on the surface. 

Hey BP, I'm Luke Lyles and I am officially making my first forum post by introducing myself to the community! A little about me:

I grew up in the DFW Area with a highly successful Local RE Agent for a mother. Whether via osmosis or otherwise, I developed quite a bit of knowledge and passion for the RE industry as a whole that later evolved into a passion for REI. However, I always thought of REI as something for later - when I had less debt, more cash, or more courage if I'm honest. But then I found BP.. Needless to say I am hooked.

A lot of things peak my interest regarding REI, but I think I have eventually landed on a couple things that have my interest the most. My goals include:

1. Starting a Wholesaling/Fix & Flip business (that I potentially turn into a job, though I love the one I have)

2. Using the Fix & Flip business to fund and eventually deleverage large multi-family and/or commercial

Would be interested to hear thoughts from others regarding these goals - are they too vague or just vague enough? I am usually one to set really high, numbers oriented goals (probably my sales background), but what I don't want to do is chase after a number arbitrarily. Ultimately I am chasing after a WHY - I want to create something from "nothing." To restore and bring order out of chaos. And building a business (especially in REI) provides an avenue to do so. And doing so in a way that frees me up to be where my church (Local & Global), family, & friends need me, when and where they need me, inspires me to no end. How that looks on the ground right now? I need to get our family in a position that allows my wife to stay at home with the kids.

Anyway, just wanted to get active and post my thoughts for those interested or willing enough to peruse. I'm excited to get to know many of you!