New to Real Estate, Interested in Wholesale

Orlando, Florida
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New to Real Estate, Interested in Wholesale

Briant Rivera Arroyo
Member since 2024 · 3 posts · 1 vote

Hello everyone, I'm relatively new to the Real Estate scene, I've done some research and have concluded I am interested in wholesale to begin my journey. I am trying to do this the right way, so with this post I inquire for advice on getting started. Anything helps, as I would like to expand my knowledge on Real Estate all together. I hope everyone is having a good day.

Best regards, Briant R.

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Julia Lyrberg
Lender · TX · Member since 2024 · 308 posts · 197 votes
1y

Hi Briant, welcome to the real estate world! Wholesaling is a great way to get started, but it’s important to focus on building a strong foundation. I’d recommend learning about finding motivated sellers, analyzing deals, and understanding local real estate laws. Networking is key to wholesaling!

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  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    1y

    Welcome. Why did you conclude that wholesaling was the way to go? It's one of the hardest businesses and also one with the most sentiment against it around right now. It's still doable, but only for a very small group. Best thing would be to get started hustling for another wholesaler to see if it really is what you think it is.

    The only way to be a good wholesaler is to build relationships with sellers, know repair costs and ARV, and understand that each seller has a problem to solve and do not need a cash offer.

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  • Briant Rivera Arroyo
    OP
    Member since 2024 · 3 posts · 1 vote
    1y

    Hello Jonathan, thank you for taking the time to respond to my post. I am starting with little to no money down, which is why I settled for wholesale. I'm aware of the challenges and I am welcoming to them in exchange for the experience of helping sellers solve whatever problem that they might have. However, as I am very new I am still naive to mostly everything Real Estate. But I am eager and willing to learn! Any advice really helps! Thank you again Jonathan, I hope you're having a swell day.

    Briant R.

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  • Julia Lyrberg
    Lender · TX · Member since 2024 · 308 posts · 197 votes
    1y

    Hi Briant, welcome to the real estate world! Wholesaling is a great way to get started, but it’s important to focus on building a strong foundation. I’d recommend learning about finding motivated sellers, analyzing deals, and understanding local real estate laws. Networking is key to wholesaling!

    5Reply
  • Briant Rivera Arroyo
    OP
    Member since 2024 · 3 posts · 1 vote
    1y

    Hello Julia, I really appreciate you taking the time to respond as well as the words of encouragement and advice! 

    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    1y
    Quote from @Briant Rivera Arroyo:

    Hello everyone, I'm relatively new to the Real Estate scene, I've done some research and have concluded I am interested in wholesale to begin my journey. I am trying to do this the right way, so with this post I inquire for advice on getting started. Anything helps, as I would like to expand my knowledge on Real Estate all together. I hope everyone is having a good day.

    Best regards, Briant R.


    Be cautious with wholesaling in real estate, as many wholesalers engage in unethical practices and cut corners. I recommend saving money to enroll in real estate licensing classes and to take the licensing exams. Some real estate brokerages may even cover the cost of your license classes.

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  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    1y
    Quote from @Briant Rivera Arroyo:

    Hello everyone, I'm relatively new to the Real Estate scene, I've done some research and have concluded I am interested in wholesale to begin my journey. I am trying to do this the right way, so with this post I inquire for advice on getting started. Anything helps, as I would like to expand my knowledge on Real Estate all together. I hope everyone is having a good day.

    Best regards, Briant R.


     As Remington mentioned above, I would be cautious while wholesaling since so many wholesalers try to go around without disclosures and simple contracts. It is overall better to get a real estate license with the correct education. 

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  • Kelly Boulton
    Realtor · FL · Member since 2022 · 48 posts · 24 votes
    1y

    Hi Briant, Welcome!  After reading everyone else's comments, I may have a controversial take, but here goes. Yes, the sentiment toward wholesaling is not very positive--especially in an oversaturated wholesale market like Orlando.  Yes, wholesaling is tough to break into and to do it correctly is to have a good foundation of knowledge on the subject.  And yes, it may be a good idea to work for a wholesaler first to get your feet wet.

    I don't think it's necessary to spend money to get your real estate license first.  Most agents don't understand or have any interest in wholesaling, and honestly some agents don't seem to know much about the basics of their industry at all.

    While you do need to understand real estate and the real estate market, I think what's truly necessary is having the right tools and systems to help you as you begin. For instance, a worksheet calculator that you can depend on for accurate rehab numbers, a coach or mentor that has experience wholesaling whose brain you can pick, a curious, principled solution-based mindset, willingness to find sellers that are NOT on the market, and for good measure -- steal underpants!

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