Just starting out with Whole sale

6 Replies

Hello Everyone I am J'son Elizondo. I am new to Bigger Pockets and Real estate investing. I recently completed a 3 day training course and have decided to dig deeper. I am interested in wholesale Any advice on what I should learn prior to my first deal? Books to read? Seminars to watch? Which contracts to use? Thanks in advance guys. Really appreciate it!

Start with your goals, where do you want to be in 1-5 years and work backwards from there. I'm not into wholesale but I hope this helps.

Maybe listen to all the podcasts on wholesaling or flipping or marketing... as a wholesaler you will benefit from all of the information shared on those podcasts. 

I'm not sure what your background is, but as a wholesaler it will be imperative to understand rehab costs so if you're not already familiar with that aspect I would start looking into it. 

What is your marketing plan? Direct mail? 

@J'son Elizondo there is lots of information here about wholesaling. There is even a wholesaling guide under the education tab.

I don't know why you chose wholesaling, I suspect a lot of Rah Rah hype at the seminar. Wholesaling is hard. It is hard enough to find a deal good enough as an investor. It is harder still to find a deal so good that it is good for another investors and there is still money left for you to  make.

One thing I strongly suggest is getting to know your market. Look at and evaluate lots of deals until you become so  confident of your market you are ready to pull the trigger when a good one comes along.

@Sophia Morris Well I was originally going to buy signs and use direct mail. But I recently watched a video on how to access probate home records and contact the administrators. I figured I would try and work my way through one of those deals and use the capital to put back into marketing.

@Ned Carey Well I chose whole sale because it requires little capital upfront. It was presented to the class as a "start up" into real estate investing. The class was not very helpful to be honest. The coordinators handed us contracts without explaining them and didn't explain much. So I assumed Bigger Pockets would be a great place to further my Real estate education.

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