[Stance]

there is no replacement for experiance and learning how to do it your self.

True, except if I'm wholesaling I wouldn't need to do the actual renovations.

 

[Parker]

^^^Just make friends with a contractor and split the wholesale fees as you see fit.

As I understand it however you just need to focus on getting the best deal possible, every investor's risk profile is different, so a number that doesn't work for one guy may work for another.

 

[Thiassi]

It's like people that want to start an internet company. You can either be the coder (Mark Zuckerberg), the guy with the money (Eduardo Saverin), or the guy with the connections (Sean Parker). Ideas are cheap, and if you don't fit, you get squeezed out.

 

[Reallusion]

The concept is simple, but the process is difficult... pending on your team. You have to be extremely careful with the contracts (basically why you need a real estate attorney + a strong realtor) Basically you'd buy the house and sell it the same day with pretty much a one-day loan aka transactional funding, or you could get control of the house on an assignment and then sell it. The problem is that the paperwork for all this stuff can be really tricky and one wrong word can definitely get you sued or possibly prosecuted if executed with mistakes.

I personally only work with luxury short sales (homes $500,000+) and they generally take 6 months to over a year to complete so it's definitely not something you can depend on.

For what you are trying to do, you need to first find a strong realtor (that can move the houses), an attorney experienced in real estate or specialized (even better), a group of investors (to buy the houses), and someone for transactional funding (to fund your purchases)