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Robert Burns

Real Estate Investor · Baton Rouge, Louisiana


Forum_avatar_avatar-raburns

Icon_minipost Dec 07 '08, 08:24 AM

I'm leaving my full time job the end of the year and will have much more time to devote to REI. I've found it very difficult to have time to get my REI going.

Now that I will actually have all the time I need and will focus on wholesaling, what are the suggestions for the steps I should take and the priorities?

Edited: 06/26/2010 at 06:34AM


Ryan Webber

Wholesaler · Amarillo, Texas


Forum_avatar_avatar-ryan_webber

Icon_minipost Dec 08 '08, 12:03 AM

Well, education is the biggest priority, and you happen to be in the right place for that.

Learning the in's and out's of wholesaling is step one. How to find deals, how to analyze deals, how to determine repairs, how to find buyers, how to market your properties, contracts to use, closing procedures, financing options.

Its time to learn.

In some of the initial steps I would include becoming a part of your local Real Estate Investment Club and starting to build your buyers list through networking. I would start networking and getting business cards of anyone connected or interested in real estate. Realtors, loan officers, bankers, hard money lenders, other investors, contractors, appraisers, etc.

Thinking about it I also would start to get a pulse on your local market. Is your local real estate market strong? hurting? How is the economy? What areas are the strongest for investors to buy and sell in? What areas to rent in? What areas should you run from?

I would start to pick out 5-10 "farm" areas that you will specialize in. These areas obviously need to be investor hot zones, and I would recommend that they be older areas that have more equity. You need to begin to learn your farm areas inside and out. Average retail prices, rental numbers, pockets of neighborhoods that are good and bad. You need to become an expert in those areas.

Once you've started your buyer's list and picked out your farm areas, its time to start marketing for deals.

Edited: 06/26/2010 at 06:35AM


Andrew Massaro

Wholesaler · Tampa, Florida


Forum_avatar_avatar-flip_coach

Icon_minipost Dec 09 '08, 07:21 AM

Didn't read Ryan's response, so I apologize if I'm redundant. I would seek out the people who are buying property in your area. They're there, you just need to find them. Once you do, you can learn strategies for finding motivated sellers from any number of books out there.

Edited: 06/26/2010 at 06:36AM


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