Where is the best place to start learning about short sales for a wholesaler?

3 Replies

Hello everyone,

I am just starting in Real Estate and unfortunately found the Guru's before biggerpockets so I ultimately, or at least as far as I understand (It's what my Guru's tell me), will have to start with Wholesales to build the capital to do flips since I do not have any substantial money to start with (but I do have a substantial amount of debt, if that counts for anything, haha). The purpose of doing wholesales is to fund either some flips or invest directly in rental properties (end goal being to work my way up to large apartment complexes).

I am trying to find a niche among the many ways they teach you how to find properties. Short sales seem like a profitable niche. I am in Honolulu, Hawaii, so the market here is different than many others in America and I am not sure many of their other methods will work for me finding properties here. Any thoughts?

As always thank you so much for your time, I know all too well how precious time is and I appreciate you taking time out of your life to take interest in mine.

Sincerely,

Lee Nicole Salinis

Short sales are a pain. They can take months to get a response from the bank.

My advice would be to try to connect with someone local that knows shortsales and see if they can help. Connect with people at a local REIA, I'm sure you'll find someone working shortsales. I am no shortsale expert but wholesaling these properties can be tricky and can take a VERY long time.

@Lee Salinis short sales are usually quite lengthy, and require proof of ability to pay. Both of those things are difficult for wholesalers. Especially new ones. I would encourage you to learn about them, but they are probably out of your reach for now until you get more money and more experience.

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