Wholesaling

When done right how much can you make from a good wholesale deal? What is a good book or course I should get that will cover wholesaling? cool smile

Comments(1)

  • SteveCook21st May, 2003

    Leonard,

    When done right? That is a tough question.

    I have broken even on wholesale deals and I have made as much as $34k. Of course the $34k is the exception to the rule, but I guess I did everything right in that situation.

    I like to make about $5k per deal. I shoot for $8-10k per deal so if I make a mistake I may end up with $3-5k.

    When starting out, I used to shoot for $2k profits, those were the deals that I settled for break even at times. I see beginners getting into $150k homes with the intent of wholesaling for $2k profit. That is a major risk on a home priced that high. I'd shoot for $10k profit at least even on the wholesale side.

    When wholesaling, if you do not want to buy the home yourself, you need to make sure it is a no brainer. When I wholesale deals today, I KNOW that they are going to sell right away and I KNOW how much I'm going to make. Of course I have done many deals, I have a buyers list, and I know where the money is coming from and how much buyers are going to be able to get to do the deals.

    I hope this helps.
    [addsig]

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