The Sampling Method is typically used for properties with nearly identical blueprints such as fast food chains or nursing facilities.EXPERIENCE OR “RULE OF THUMB” APPROACHThis approach is based upon the specialist’s experience in the industry and their ability to estimate the costs.

I had no money to put down on any properties, so I learned (a lot) and put in a lot of hard work and effort to get some properties under contract.Initially, I had no clue what I was doing, but I had the help of some people (and I appreciated that)I made mistakes that cost me around $30k (lost a deal due to my ignorance regarding title and escrow)The good news with wholesaling is that it doesn't take a lot of capital upfront, and you can start talking to sellers and learn about the industry in general.The other good news is that you can without a doubt generate revenue quickly if you do things correctly (having a good TC / title / escrow connection that keeps deals moving on the backend)That said, there are a few points that I've come to live by:1.

I've been doing a moderate level of research around the housing industry and I am very excited and eager to jump in.

Although I don't have much experience in this field yet, I am passionate about real estate and hope to continuously learn and grow in this industry.

I’m guessing that is because of your pessimistic view on the economy right now, but even if the markets dip temporarily, based on history, they will rebound to even higher points (I know just cause it’s happened before doesn’t guarantee it will happen again).Personally I have a successful business, but opted to diversify into real estate because my industry is heavily regulated and one change of a law could make me MUCH less profitable.

@Seth Williams I work in the group home industry.

If you think about it in any industry less transparency and more friction in the transaction will increase fees/commission vs reducing them.I like the idea as an investor of having different agents, a team of agents maybe 3-4 bringing me deals, but I think less of that will happen now as all will have to have you sign some kind of agreement up front. 

Remember, the right property manager is a gateway to industry insights and local networking opportunities, much like the valuable connections you're making here on Bigger Pockets.Wishing you success as you embark on this exciting journey.

So you cannot just look at industry Cap rates alone unless you understand an operators abilities for higher yield on costs.BAM Capital is becoming an institutional investment company in multi-family Real Estate with Brokers.

Industry professionals are biased towards what makes them the most money, understandably, because why else are they in this business but to make money?