BiggerPockets

I completed my first deal and it was helping a rehabber sell his cheap house. What was my profit? $450.00.

Are you kidding me? Nope. But what I learned was priceless. I learned some ways to market cheap houses.

If you're new to this business, action is required. I have read many articles, forums, and even harrassed some seasoned investors on this website (you know who you are). and they have given me excellent advice and some have brushed me off.

But the bottom line is that all this good advice is not good if you don't take action.

This weekend I plan to farm certain low-end areas for vacant properties, do my due diligence, and make offers. Will I make mistakes? Yes indeedy, but I will try.

So take heart newbies, I didn't make 10k or 20k, I made a little and learned alot.

GO FOR IT!

Thanks Ben. It's tough, but doable.

Thanks Mitch, I think the key is to find an active investor that is willing to give you some pointers, but action is required. I'm battleing a wife who is still skeptical and I'm still trying to figure out how to put a 1k binder on reos and other financial matters.
Because I'm a web developer, I'm going to put a website together that will bring the money buyers and my inventory at one place. I'm also going to find some bird-dogs to spot properties. I just don't have time to farm areas like a use to so I'm targeting certain areas to post my bird-dog ads. What do you think? P.S. I afraid of flying.

No, it didn't help. Hey, on a different topic, I'm creating a website to capture buyer leads as well as sellers. its jaxhomehunter. Should be complete in 2 weeks.

I think the key here is that wholesaling is a business. The business requires time, education and some money to find properties that can be bought at a price that rehabbers or end-buyers are willing to pay.

It also takes work to build a good buyers list and to know what these buyers are interested in.

Those late night infomercials that try to say that you can stay home in your easy chair and wait for your bank accounts to fill-up on their own are just selling dreams with no sense of the realities involved.

Originally posted by Ben Wilson

Congrats Del - from my experience you've already done more than most people ever do.

Go get the next one...

Couldn't agree more! Taking action and utilizing your education in the real world is what makes people money!

Thank you Del. I have also noticed that you are new here and have engaged this site well and stuck around. Kudos to you! I promise it will pay off if you continue to do so.

Will Barnard

Sure. All I can say is that it was Bandit Signs all over the place that read "Real Cheap House blah blah blah".
I was a mad man for selling George, the rehabbers property.
Now George is going to help me with a good Hard Money source, give a testimonial on my soon to be website, and even let me sell his inventory on my site so I look legit.
Fake it til you make it baby.

Thanks James. It only took 10 years of paralysis to do something.

Thanks Matt. I'm really feeling the love. However, I know there is still major action ahead of me and probably a few mistakes on the horizon.