Wholesale or rehab

6 Replies

Hello BP,

I'm looking into wholesaling as I start out as an investor just a little overwhelmed in thought because I have no personal funds. Yes I can find hard lenders but how hard will it be for someone that does not know real estate to get into it wholesaling, realistically?

Or should I use a hard lender for rehabs to start out?

I have been reading books an working on the podcasts just a little "fear" I guess you can say about changing my comfort zone but if I don't force myself I'll never do it.
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The only thing to fear is fear itself. As to your question, finding a true deal is half, if not more, of the battle. Learn how to do this, how to properly estimate exit values and rehab costs and there is no stopping you.

@Shane Cote Welcome to BP. Educate yourself and that will take the fear out of the equation. Take action after you have educated yourself.

@Shane Cote Most wholesalers never own the property. They get the property under contract and then assign the contract. Work on building up a buyers list and you can wholesale without money out of your pocket.

There's lots of blogs and podcasts on here about how to wholesale. Take the time to learn and you should do fine.

Best wishes,

Mike

Thank you all for taking the time out of your day and give me information. It's helped me re-focus on Wholesale. Like i have said it gets overwhelming because i'm really jumping out side of my box/ Comfort zone. Thanks again

Originally posted by @Shane Cote :
Like i have said it gets overwhelming because i'm really jumping out side of my box/ Comfort zone.

If you are in your comfort zone, you are likely not progressing.

Nope I'm not so that is why I am going to change my zone :).

Just got done with podcast 49 I think or might have been 50 but I heard the best advise I could get. Summed up it was "I need to focus on 1 area not all of them.

So I'm going to focus on wholesaling in my area and learn that then move on to others. It's actually not bad when I put the other aside and see it does not look like I'm over my head.

Still need to really look into the contracts to better understand them. Any tips will be appreciated . Thanks again

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