@Samuel Herber Welcome to wholesaling real estate, man — it’s never an easy deal, and rarely straightforward. These things are like snowflakes… no two are ever the same, and we get paid to solve problems. For this one, I’d treat the real estate side just like any other deal: underwrite the house based on ARV, subtract repairs, and figure out your MAO. That’s the simple part. The commercial store and inventory are where it gets tricky. For the inventory, think liquidation value, not retail. For the business, you’ll need to look at actual performance — revenue and profit — since businesses are sold on multiples, not just square footage. Now, you could underwrite it strictly as a real estate transaction, secure the commercial building as its own piece of property, and wholesale it as commercial real estate. But if the store is a viable business with consistent revenue, it could actually sell for more than the real estate alone. Businesses are sold base on multiples depending on the industry. Just make sure the bases are covered: licenses valid, taxes current, insurance in place, no liens or violations. At the end of the day, the real estate is straightforward, but the business side has more moving parts — that’s where you’ll need to dig in a little deeper. I would be more then happy to help if you have additional questions! Good luck

@Samuel Herber Just to give a clear example so you don’t overlook a potential opportunity: the real estate itself retains its standard value, but when you add a business to it, that value can be enhanced. If the business is viable and has demonstrated stable profits over a meaningful period—say, the last five years—you can often sell the real estate and the business together as a package. For instance, if the business consistently generated $200,000 annually, buyers might value it at roughly two times the Seller’s Discretionary Earnings (SDE). That multiple could be added to the overall asking price. While packaging the real estate and business may take longer to sell, it could result in a significantly higher return. On the other hand, if you decided to liquidate, you might say: “Give me $100,000 for this business that nets $100,000 annually.” Some investors would see that as a 100% return in the first year. They may also reason that they could hire someone to run it for $50,000 and still pocket the difference, generating a solid ROI while owning both the business and the property. Does that make sense?

@Greg Shubin for this type of deal, I wear several hats — wholesaler, rehabber, flipper, and licensed agent. On some deals that I take down to flip, I function as the wholesaler, end buyer, rehabber, and eventually the listing agent. In those cases, I typically assign the deal to myself. This is primarily to cover my out-of-pocket acquisition costs, since I often use hard money to purchase the property. Because i am not closing on this one (hence the novation) I don’t need to be the buyer.This one will be sold on the market to a retail buyer once I am done

@Jacob Tisdale Agents and wholesalers often clash. Many agents view wholesalers as shady or even criminal, while many wholesalers dislike working with agents. The truth is, both sides have bad apples. Unfortunately, there are plenty of inexperienced or unethical wholesalers who give the whole industry a bad name—and the same can be said about agents. I can’t tell you how many times I’ve seen a property that clearly should have been sold as a cash deal something needing a full rehab get listed by an agent. I end up telling the seller: the only people who will buy this are investors. In that case, you’re paying an agent for something unnecessary, since the end result is still an investor purchase. The only real difference is whether or not you’re paying that agent’s commission. Of course, there are some nuances to this, but that’s the core issue. On top of that, most brokerages and agents shy away from wholesaling it’s almost an unspoken rule. That’s why if you’re licensed and want to work the investing side of the business, it’s critical to align yourself with an investor-friendly brokerage that understands and supports creative strategies. Otherwise, you’ll constantly run into friction with traditional brokerages that don’t.

I’ve been full-time for 10 years now. Biggest benefit has been the speed — when you can give this business your full focus, the deals stack up a lot faster. For me it came down to building solid systems and treating it like a real business from day one. Anyone here thinking about making the jump to full-time soon?

Congratulations

@Jacob Tisdale Absolutely 💯 — you nailed it. Taking action is the key, and the compounding effect is real in this business. Every call, every conversation, every follow-up adds up.

@Virginia Vargas are you door knocking? One thing that works very well if you are that brave is use sticky notes and handwrite something (post on the door). You can be vague “I need to talk to you about your house - (your number). Or I would like to buy your house(your number)… important to note get a google voice number or some other free virtual number because some (most) won’t like this posted note. But some will call with good news :)