Eddie Case asked:


Almost all of the properties that wholesalers will \”put under contract\” will need some degree of repair work. These repairs can range from some new carpet and paint to a complete \”gut job\” where you will have to remodel the entire house inside and out!

Unfortunately we as wholesalers MUST be able to calculate the rehab dollar amount. We must be able to plug this critical \”Rehab Value\” into our Wholesale Formula Spread Sheets. These spreadsheets tells the wholesaler if he has a real deal on his plate or not!

More on how to calculate your spreadsheet numbers some other time! But for now, just know that this rehab dollar amount is a critical variable when figuring out how much you will offer on the property you are looking at!

So, if you know absolutely nothing about estimating repairs on a rehab project this could be a problem for you. So here\’s what I suggest you do if your new to the business. CALL A CONTRACTOR TO HELP YOU CALCULATE THE REHAB COSTS! Then, open up your ears and your eye\’s and pay attention to what the contractor tells you about the project at hand.

Estimating repairs is not rocket science. It just takes a little practice to get it right! I suggest that new investors should be walking through as many distressed properties as they can with a notepad, a tape measure, and an open mind! I can teach anyone in 30 Days or less, how to calculate rehab numbers and have excellent ballpark repair numbers on just about any project.

I have put together some generic project cost sheets that will help put 90 % or more of the repair totals together for you. Just plug my numbers into your Rehab Value Spreadsheet and you will be more than on your way to arriving at the complete project cost totals that you will need. In my e-book \”Wholesaling Smarts\” I have included this project estimating cost sheet.

You may have to pay your contractor a few bucks for the first few estimates, but do it anyway! Think of it as the price of an education! While the contractor is doing his thing, you should run your own numbers using the cost estimating sheet in my e-book. Then, after the contractor has given you his numbers, compare them to yours to see how you did on your project total. Be patient, it will take some practice, but anyone can learn how to estimate like a pro! After a while, you will never need to call the contractor again, I promise!

YOU MUST HAVE AN ACURATE REHAB COST VALUE TO PLUG INTO YOUR WHOLESALE DEAL SPREADSHEET, WHETHER YOU ARE ESTIMATING THE REAPIRS OR YOUR CONTRACTOR IS DOING IT FOR YOU. IT\’S AN EVIL NESSESSITY THAT ALL WHOLESALERS MUST CONTEND WITH IF THEY WANT TO BE SUCCESSFUL WHOLESALERS!

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Eddie Case asked:

Other than a very small \”Earnest Money Deposit\” of $ 100.00 or less, the Wholesale Investor never spends another dime putting profitable wholesale real estate deals together!

Wholesalers are NEVER the \”end-users\” of the real estate that we put under contract with motivated sellers. So, wholesalers avoid ALL of the typical real estate investing costs that the \”end-users\” will have to deal with.

Such as:

1.) Holding Costs

2.) Repair Costs

3.) Closing Costs

Successful Wholesalers NEVER pull a dime out of there pocket after the sales contract is finalized between themselves and the MOTIVATED SELLERS, PERIOD!

As wholesalers we are just transferring the interest in a real estate contract between the original seller and ourselves, directly over to the \”end-users\”. The end-users are our Investor/Buyers that want to take ownership of the property that we have under contract with the Motivated Sellers. The end users are the ones that will be buying-fixing selling or renting-out the property we have an interest in.

The \”end-users\’ are the ones who will be putting their money into the deal NOT THE WHOLESALER! NOT YOU! Wholesalers keep their money in their pockets where it belongs. Wholesalers DO NOT risk their money. Wholesaling is the most RISK-FREE type of real estate investing with out a doubt! Nothing else comes close!

So, other than our very small earnest money deposit ($1.00 to $100.00) the wholesaler TRULY will always be working in a \”NO MONEY DOWN\” deal environment.

Remember, only the \”end users\” in a wholesale deal invest and risk money! Wholesalers are true \”middlemen\”. Meaning, we only pass the interest in the real estate in question from one party to the next party and collect a \”fee\” for doing so. We are sort of acting a \”brokers\” of distressed real estate. Making a connection between Motivated sellers and their distressed property, and the Investor/Buyers who want to own those distressed properties. And for providing this service, the wholesaler gets paid a his fee.

Once the Motivated Seller and the Investor Buyer have been joined together by the Real Estate Wholesaler, the Real Estate Wholesaler is paid his Assignment Fee , and is then \”OUT OF THE DEAL\” forever! PERIOD! END OF DEAL

Then its on the next profitable Wholesale Deal for the Real Estate Wholesaler!

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Eddie Case asked:


The answer to this question is NO! And Thank God for that! You personally do not need to know how to repair or rehab distressed real estate!

First of all, Real Estate Wholesalers NEVER are the ones fixing-up Ugly distressed properties, its not what we do as investors! Far from it! We leave that aspect or real estate investing to the \”end-users\”, or to the Investor/Buyers that we sell our property too.

Real Estate Wholesalers never touch a hammer or a saw or any other tool! That\’s the \”other guys\” project to deal with, the Investor/Buyers problem to address, NOT YOURS! Wholesalers NEVER end-up owning any of the real estate that we put under contract with Motivated Sellers! So why would we want to fix anything?

It\’s true that a lot of the property\’s that Real Estate Wholesalers \”put-under-contract\” need a fair amount of rehab work. It\’s NEVER the wholesalers concern as to how or who is going to make the repairs. Again that\’s the \”next guys\” problem.

Now, It is advisable to familiarize yourself with \”basic\” construction terminology and \”basic\” remodeling practices. The reason for possessing some basic contracting knowledge is so that you can calculate the \”repair cost\” value to plug into your deal spreadsheet formula. The formula that tells the wholesaler whether or not he has a deal on his plate.

You DO NOT have to know how to actually do the needed rehab work on a contractors level! But, you should be able to at least \”roughly estimate\” the needed repairs. The value of the needed repairs is a VERY important factor of the \”deal structuring\” aspect of a wholesale deal!

But outside of some basic remodeling knowledge, and I said remodeling knowledge NOT remodeling hand-on skills, the real estate wholesaler is NEVER part of the rehabbing stage of a real estate deal. EVER!

I do however recommend to new wholesalers that have no construction knowledge or skills whatsoever, that they find a contractor who they can call-on when rehab-cost questions that they can not answer arise.

Even if you have to pay them a small fee to meet you at the property to discuss needed repairs to the property. After a while, you will be able to do this yourself. But in the beginning of your wholesale investing career, a little unbiased advise from an established contractor will pay big you big dividends while protecting your interests.

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Amy & Dustin Roberts asked:




Now is probably the greatest opportunity there is for finding great deals for a long time to come. This is the time to buy! Are you a serious rehabber who wants to cash in on great deals? Are you looking for fixer uppers to rent out for cash flow? If so, you’ve come to the right place.

KnoxvilleWholesaleRealEstate.com is looking for rehabbers who can act quickly in closing great wholesale deals in the Knoxville area. Our job is to scout out the best deals in our housing market and bring them to you so you can focus your efforts on rehabbing or renting these properties. Opportunities available now may not be available tomorrow.

Whether you are looking to rehab homes and then resell them or just building a rental portfolio to hold onto for the long term, this market is full of amazing deals and we can bring them to you. We are Knoxville’s Premier Real Estate Wholesalers, which simply means we sell amazing DEALS!

We specialize in finding distressed properties here in the Knoxville, TN area. Many are great foreclosure and reo deals. This is my invitation to serious rehabbers who can cash in on these great deals. Time is money so, let us save you time by doing the grunt work for you. This way, you can focus on better things to do with your valuable time such as, making more money. I am asking that you provide the following information so we can tailor our search, and get you the best deals out there.

We want to see to it that you succeed as a real estate investor. Just for stopping by you’ll receive your very own real estate investors guide and it’s a yours to keep for FREE. In order to get immediate access go to www.KnoxvilleWholesaleRealEstate.com.