New Investor here. Being that I'm a junior in college and do not have a bank account with several zeros attached to it and a credit score similar to gas prices. The purpose of this post is to reach out to the community in hopes of getting solid information about wholesaling. Such as, How to find a deal? What legalities do I need to be aware of? Also, how to find a buyer?
Welcome, when I used to live in Sioux Falls we used to go to Mankato a lot.
Check out this podcast I did in regards to Bandit Signs and Driving For Dollars. You might find it interesting and maybe a little helpful :)
Regarding selling the home when you get one, try to find out who is buying in your local area and reach out to them to find out what they like to buy and where.
Man, there are entire books that cover the questions you asked! =) A couple that I recommend are right here on BP:
Get some business cards so you have a way to network with other professionals.
Find a local RE Investor meeting and go to it.
Learn everything you can about wholesaling and MARKETING.
Do a lot of research here on BP.
We have a bunch of free educational videos you can see here.
Ok here is what you need to do. This is exactly where I started out in my investing career. The bandit signs are a great idea. The warning here is that the city can come after you for putting up these signs. This is why you never want to put your cell number on these signs.
Here is another technique that I used. Keep in mind that it is labor intensive, but you have to start somewhere right. This technique is called "driving for dollars". You go around to neighborhoods where you know vacant houses are and you write down all the addresses. You then find out who the owner is through the county courthouse records and contact them via snail mail with a well written letter. Both these techniques will cost you more in time than money, but are very effective.https://danielhedges3636.wordpress.com/
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