All Forum Posts by: Thomas Culbreath

Like many other members here i'm somewhat new to real estate wholesaling . Over the few months I have immersed myself in real estate investing books(Yeah I know), forums and attending local Rehab networking meetups. I have gained a wealth of knowledge and still feel like i could use more. I have started a Craigslist ad campaign and the Local newspaper Real Estate classifieds and I almost closed a deal but it eventually fell through. Currently im a Sales Consultant for an Electronics company and want pursue my dream as an investor. Motivation, determination & work ethic I have, I just need someone who is willing to share there knowledge in a mentorship. Willing to take on a young Entrepreneur?

I'm no expert and I'm sure another member will give you better advice then what I can. Direct mail or post card might be a great option if your not ready to upright knock on door, but honestly I think you may have a harder time trying to find a end buyer becuase all the matters to your assignee is that the numbers make sense. You have to factor in repair cost because most are looking to pay around 70% of ARV. So let's say you get the house on contract at 402k plus your assignment fee of say 5k, now your at 407k and the house needs 15k-25k in repairs. Now your at 422k+ That may not leave enough spread for it to be attractive.

Would the home need any repairs?

Wholesaling might be illegal if you do it as a real estate agent in your state becuase you have to work through a brokerage!