If you take a look at my posts from November 26, 2010 (House #19, Budget Recap) and September 27, 2012 (House #35, Budget Recap), those will give you a decent idea of how I broke down the budget on two properties that started as shells (you can look at the pictures for those houses to see what they looked like before and after to see the amount of work and finish level).Please don't rely on any of my pricing -- costs will vary by location, type of house, contractors, time of year, level of finish, and a thousand other variables -- but those two resources above can give you an idea of how to approach a big rehab and how to break down the renovation into components.

I have and continue to use Google Sketchup, especially for custom work, and then use another program called Chief Architect (interior version) for detailed interior design and finishing.

Depending on the competition, maybe dropping it a little more would generate a quick sales.If it needs work, and especially if there are move-in ready competitors, it may require and investor.

By getting a list ahead of time that is more narrowed down I can pinpoint buyers who are buying exactly what I am selling.Once I have the list I cross reference the county tax records to see who bought the home....Then I contact the owners directly.Students of mine have built sizeable lists in under 7 days.I actually thought of this method myself when i was a newbie Realtor trying to find a shortcut for locating investors.

NO, but those who do not know what they are doing shore make you raise an eyebrow.Wholesale opportunities are all around us, but once again people are trying to short cut the system and there are no short cuts and once everyone realizes that it will be come a lot easier.Oh, by the way I have wholesaled over 50 properties and I have HUD statements to prove it and so I feel as though I can help someone with the struggle of if it is illegal.I also own over 15 rental properties so I can speak from both arenas.My question has always been how can you become a GOOD wholesaler if you do not OWN or have never done a rehab job yourself, to understand the concept of repairs vs price vs rents in the area.

So I did some detective work and found the owners, which is a home building company.

He flaked out and decided he wants to go back to school and be a dentist.”With this information I got the PM to admit he wasn’t really doing any work he only was continuing to collect the rent for me because he banks at the bank I had my account with and it was a free $50 a month, but once we ran into issues he basically didn’t want to do any work and that’s why the rent was late and then stopped.

The ARV is a solid 185k-200k, and the woman said it needs plumbing work and electrical work.

Again I would advise somewhere closer to you, in a location that's easily accessible to you so you can go and check out the work and get progress updates.

Everybody in the wholesaling business seems to pursue a short cut or work around of the laws.