HI, im interested in getting in to the whole sale market and rehab. Does anyone have any advice on how to get started with 0 out of pocket expense? what kind of lending should i consider? also what projects have the best R.O.I.? Do you have a strategy that works for you? Any advice would help greatly im new to everything and don't know much.
Volumes have been written on this subject. You are limited by the 0 down restriction...direct mail marketing, which is a mainstay of wholesale real estate, costs money, even if you hand write and hand gather addresses. I have pulled names/addresses of houses in the early stages of foreclosure and door knocked them, asking if they were ready to sell (the time line for foreclosure was a very short 3 months). You could look to lease a house with the option to buy, which would let you in with small amounts of money.
Those with the best ROI are those you have no money in, of course. You need to spend the time to learn if you don't have money to start. So, dig in to the podcasts and listen while you commute to school or work. Pick a topic in the forums and do research: flip or rehab are good search terms, as is probate, wholesale, and marketing. Go to the "Learn" tab above and read. My two favorite books are Keller's Millionaire Real Estate Investor, and Summey's Weekend Millionaire. You'll find others who recommend other books. Any way you do it, spend more time reading so you can ask more specific questions. Welcome!
Thank you i will definitely dig in to those!
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