First I would like to start off by saying that wholesaling works, but it's just not enough for us right now! I don't know if we're doing something wrong, but we have done over 5 deals in the last 2 months, and we are only making 500-1000 per deal. When you split that in half (for the 50/50 partnership) that's simply just not enough (in our opinion) for all the time/work we put into the business. My guess is that we are dealing with cheaper properties, which gives less wiggle-room for wholesaler profits. But I don't know.
I would like to begin buying/refinancing/renting/holding because we come across KILLER deals all the time, but hate to watch them constantly slip through our fingers for only a few hundred bucks. We have SOME access to cash, but not enough to fully fund deals, and I also have good credit, but I'm only 22 so it's still hard for me to get approved for certain things because there is a lack of history.
So what I'm asking is either one of two things, some advice on how to wholesale better from those doing this, OR any leads for private money or highly qualified banks with no seasoning refi requirements.
I'm trying to justify renewing my membership with DG Insider Elite, but with small profits like this, I can't seem to make myself come to it.
I appreciate all the help, I try to give back what I get!
ALSO NOTE: I'm not writing this to say this doesn't work. I KNOW it works, and I also KNOW wholesaling is possible to make 5-10k per deal. All I'm saying is that we need help getting to that point because we're not there yet. Or else we want to change strategies.
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