New In RE doing Wholesale in MD, PA, WV and VA

4 Replies

I Am a newbie in RE, and I am willing to invest my own money on marketing and finding deals and analyzing the deal and making the offers. My goals as a wholesaler is to get to know my investor as much as possible, so the next time, I speak with them , I will have a contract on my hand to offer.

If you don't have the time to run around looking for deals, I Am more them willing to help you find your deal, let me get to know you. what kinds of deals do you like?

Buy and Hold, Fix and Flip, Multifamily, Money lending, Owner finance, Equity Sharing, Master Lease, Lease/Option, Agreement of Deed, Land Contract and Subject-to.

My biggest fear as an newbie is to spend my time and money on Contractor and Lawyers get a good deal and not be able to find a buyer. ( Any suggestions, any advise would be absolutely appreciated.)

@Ozzy Sosa

Welcome to the vibrant BP community. Your time here will be well spent.

I added the below wholesale guide for your review as a result of your interest in this niche.

https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)

Now that you have made the move, below are some links that will help with the navigation of the site.

https://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing (video courses)

https://www.biggerpockets.com/real-estate-investing (Ultimate beginner's guide to REI)

Before your 1st purchase, please ensure you visit the below link for some tips.

https://www.biggerpockets.com/renewsblog/2014/12/19/real-estate-investing-success-smart-tips/

REI books suggested by BPers

https://www.biggerpockets.com/renewsblog/2015/11/13/7-real-estate-books-beginner-investors/ (7 absolute must read books for beginner REIs)

http://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?utm_source=search&utm_medium=internal&utm_campaign=books (books recommended by BPers)

Simply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.

Feast on the Podcasts, #askbp Podcasts, blogs and webinars

Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational, thought provoking ideas relevant to REI.

Just curious....I know many folks do remote wholesaling, but how are you going to build relationships w/ sellers, understand exactly what needs to be done to the houses, estimate rehab/ARV accurately from afar, do showings, etc.?

More power to whoever can remote wholesale successfully, but in my experience being boots on the ground is important to adding value to the transaction.    

And yes, buyers are a very critical part of the equation.      Regardless of your ultimate ambitions, I'd encourage you to start locally and expand as your resources (time, marketing $, buyers, support team, etc.) enable.

Thank you so much for the information @Linval T. This will help a lot, thank you.

@Chris S. Totally agreed with you, the locations, I mention here, are within driving distance from me, I live in a 4 state area. I am not planning on doing wholesale. if I can't reach the properties.

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