New to Wholesaling and NEED ADVICE!

I am new to the wholesaling business and loaded with questions. I would love to hear stories of how you first got started wholesaling from those who have become successful. I am a junior at ECU in Greenville NC. I have read tons of real estate books and have just recently considered giving wholesaling shot since i have no money to make purchases myself. I am wondering what are some of the initial steps I need to take to get started. I am also wondering whether I should create a website and if so how to do so. Basically any advice you could give to a complete newbie would be great!

Tivon J.

Wholesaler · Atlanta, Georgia

29 posts
1 award
50 influence

Jan 25, 07:59 PM

Greetings Matt,

Welcome to BP! There are tons of information already in each of the forums. Chance are that any questions you have may have already been asked and answered by others. I have been on BP a little over a month and probably would have had 10 times as many posts if I didn't search the forums. I'm new to wholesaling as well and have been taking the necessary steps to get started. Let me know if I can help. Good luck!

Keith Lutz

Real Estate Investor · Hackettstown, New Jersey

96 posts
2 awards
56 influence

Jan 25, 07:59 PM

Hi Matt,

Go find your local REIA meetings.

Search these forums.

Check out Sean Terry's podcast on iTunes.

I am in the same boat as you, so Welcome to BP!

Matt Nusbaum

· Greenville, North Carolina

8 posts
50 influence

Jan 25, 08:05 PM

Thanks guys,

I've been listening to Sean Terry's podcast religiously since I first hear it a couple weeks ago. The closest REIA is about 2 hrs away from me in Raleigh? Think its worth it to travel to?

Edgar U.

Wholesaler

7 posts
50 influence

Jan 28, 08:08 AM

Matt,
I started just like you are reading, listening, and breathing all things real estate. I especially visited often [REMOVED], biggerpockets wasn't so big about 5 years ago. I would start by reading what top moderators/forum posters are writing and asking tons of questions like you are doing right now.

As far as website is concern. Unless, you have a good biz plan intact. A website will just be wasting you money right now IMO.

Much success to you!

Edited: 01/28/2012 at 08:33AM by Moderator

Delondon Dear

Real Estate Investor · 30906, Georgia

142 posts
3 awards
50 influence

Jan 29, 03:19 PM

Signs my friend. You can be the most savvy investor in your city, but if you dont have leads calling you with homes for sale, you will be very disappointed in this business. Get the leads flowing and bandit signs are a cheap solution for this.

Elia S.

Wholesaler · indiana, Indiana

37 posts
1 award
50 influence

Jan 29, 05:59 PM

Matt Hi an welcome to BP since you have been reading an asking questions your on your way i would suggest getting to network with your local Real Estate Group in your area i know that is cliche also i would post some ads for distress sellers online craiglist, backpage ect these are free something like we buy homes any condition any location close quick with

your number they will call get as much info name,number, specs on property 3b/1b ect get to know the area an what homes sell for do a drive around the area when going to talk to the seller get the property under contract take pics or video of the property at the same token you should have ads online as well stating you have

great investment deals for 60% on the dollar for sale to cash buyers building your buyers list don't worry if you only have 1 property for sale just collect all the info from the buyer name , email,phone, an what is there buying criteria an how fast can they close. have the buyer sign a purchase contract with $1k to $2k Non refundable Deposit "EMD" take both papers to your title company collect your check then rinse an repeat.

i did leave out a few pieces [REMOVED] hope that helps.

Edited: 01/29/2012 at 07:09PM by Moderator