Newbie in Chicagoland

5 Replies

Hello all,

My name is Gary Shaw and after several false starts, I'm trying again.  I'm looking to start wholesaling in my area and to network and learn.     

@Gary Shaw

Welcome. Time to build the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 70 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Couple good reads 

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP

Wow,

Thanks for the great info Paul. I'll get right on it.

Hey Paul,

I'm still absorbing the info you suggested and I gotta tell you, it's really helping me get focused.  

Based on what I've learned so far, I considering changing my focus from wholesaling to buy and hold.  What's your recommendation?

Gary

There are lots of threads and podcasts delineating the two strategies. They serve two separate purposes but can be done hand in hand (listen to Aaron Mazrillo's podcast #37).

If you can produce revenue then buy and hold seems like a great way to invest and retire or semi retire. (Will Barnard posted about semi passive income this morning on a thread that addresses your question).

Wholesaling is a way to generate that revenue. A difficult way, as you know.

Thanks, I'll  check it out.

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