I know the advice is to start off wholesaling when you don't have a lot of capital to start investing with or so-so credit. Has anyone tried wholesaling, and NOT like it? I have a property under contract. My first wholesale deal. I'm working with a seasoned wholesaler in my area. Anyway, at first I was excited, and somehow that has turned to feeling like I just don't like wholesaling. I don't feel passionate about it in general. I've realized that fixing and flipping really interests me a whole lot more. Thinking about trying to find a seasoned investor who does fix and flips in my area. I know there can be quick cash to be made with wholesaling to help build the finances, and do other things in investing, but nothing about it excites me. Is it just me? Would I feel better if the deal closed? Maybe, maybe not. I'm starting to think maybe this isn't the right niche for me to start in, just not sure of other options. Has anyone else felt like this about the niche you have chosen to start in?
What ever you decide find a mentor who his honest with you. There are so many aspects of real estate that can make you money. Many of get into real estate to get out of a job. If wholesaling feels like a job to you then find a fix and flip investor in your area and see how you can be of benefit to him. Maybe its putting out signs, answering phones, calling on leads, visiting his rehab sites to make sure everything is on the up and up. Ultimately find someone who is knowlegeable and honest, and trustworthy. If you stick with him/her you will become like them.
We all need a team to help us through some things.
Stay Positive, you will find your niche
I just don't get that warm and fuzzy about wholesaling. I don't think I ever have. It's just one of those things where everyone says you should start there for the reasons I mentioned above. I have a couple of rehabbers in my area in mind. I see some folks talk about wholesaling in such a great light, and I just don't feel that way. .. didn't know if it was just me.
We started out buy and hold through rentals. We bought a personal property and when we moved we rented it out. If you don't like wholesale try another type. I personally buy everything off mls even using a realtor.
I don't like wholesaling. Too much work and effort for too little reward. I'm all about leveraging my time. There are many roles involved in a real estate deal and you decide what role you want to play. Each role requires a certain amount of time and money in exchange for a reward. Talk to real estate investors in your area to determine the roles in their deals and what time, money and reward are they receiving for each respective role. I prefer the role of deal maker and funder. Hope this helps.
God Bless You !
Elizabeth Colegrove I finally heard someone say they don't like wholesaling either! :) I know there are many roles and different niches. I do plan on talking with some folks in my area. It's just a matter of finding what "does it" for me. I've been to some meetups in my area, and trying to meet folks that do different things as far as investing goes. If I have the funding for this one I'm wholesaling, I think I would keep it myself. Anyway, thanks for the advice guys!
I don't understand why everyone recommends wholesaling. It isn't hard to get a Realtor license and broker deals for commission. It seems more ethical to me compared to putting a property under contract and trying to find another buyer. The few wholesalers I have come across have used deceptive tactics when dealing with the seller by often deceiving the seller into thinking they are going to buy a property when they don't even have the money to afford it. Often times this leads to them backing out of the deal and wasting the seller's time. I have very limited experience so i'd appreciate if any wholesalers out there could correct me if I'm wrong.
I know what you mean. I guess depends on how it's all presented, but hey I'm new to this so what do I know...:) but, seriously it kind of feels like that with this deal I'm working on with this other guy. I don't know I just don't have a warm and fuzzy about wholesaling right now. I'm going to try, and find some private lenders in my area and rehab mentor in my area, and try to get that going. I feel like that's where my interest really lies.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.