New to Bigger Pockets and Real Estate Investing

New to Bigger Pockets and Real Estate Investing

Lansing , MI · Member since 2017 · 4 posts · 1 vote

Hello,

I'm new to Bigger Pockets and Real Estate Investing in general. I am in the stage of educating myself  on the field and was wondering if you all could help me with some starting questions. 

If someone is new to real estate investing, is wholesaling the best place to start (especially if you have limited funds)? I have read/heard differing opinions that wholesaling is a good place for someone new to start and other sources say that it is not a good place to start for a beginner. If you do not think wholesaling is the way to go for a beginner, what do you suggest? 

Do you think an attorney should be consulted before one starts wholesaling? I have heard differing opinions on that as well. I talked to someone who is working as a wholesaler currently who has never contacted an attorney but when I research real estate and wholesaling, I read that an attorney should be consulted before you begin. 

Could anyone help clear these things up for me? Thank you. 

1Reply
27 views

Most Popular Reply

Investor · Lubbock, TX · Member since 2015 · 308 posts · 106 votes
9y

Hi Tan,

I wouldn't assume wholesaling is a good place to start. I've never done wholesaling and probably most investors I know also haven't done wholesaling.

Personally, I would recommend reading Rich Dad, Poor Dad to get a good mindset. Then, I'd recommend reading Hold by Steve Chader and Jennice Doty. Maybe check out "The Complete Guide to Buying and Selling Apartment Buildings" and the books they have on sale at BP.

Anyways, I don't recommend over-researching without jumping in. But, I just want to make the point that wholesaling is not always the best way to start.

I wish you the best!

See this reply in the discussion

7 Replies

Jump to latestLatest
  • Investor · Lubbock, TX · Member since 2015 · 308 posts · 106 votes
    9y

    Hi Tan,

    I wouldn't assume wholesaling is a good place to start. I've never done wholesaling and probably most investors I know also haven't done wholesaling.

    Personally, I would recommend reading Rich Dad, Poor Dad to get a good mindset. Then, I'd recommend reading Hold by Steve Chader and Jennice Doty. Maybe check out "The Complete Guide to Buying and Selling Apartment Buildings" and the books they have on sale at BP.

    Anyways, I don't recommend over-researching without jumping in. But, I just want to make the point that wholesaling is not always the best way to start.

    I wish you the best!

  • Lansing , MI · Member since 2017 · 4 posts · 1 vote
    9y

    Thank you for the reply and for the suggestions! 

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Tan Keaton

    Welcome to Bigger Pockets. You are at the right place to learn about real estate investing.

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    9y

    @Tan Keaton

    Welcome to the BP family! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
    Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best!

  • Lansing , MI · Member since 2017 · 4 posts · 1 vote
    9y

    @Mark Nolan thanks for the welcome.

    @Dmitriy Fomichenko thank you for the recommendations! Those are helpful and I will be sure to look into them.

  • Real Estate Investor · Spring Valley, CA · Member since 2016 · 288 posts · 98 votes
    9y

    education and networking are the best place to start. and why you are doing that, get your financial house in order, clearing out as much bad debt you have as you can. good luck and welcome

  • Lansing , MI · Member since 2017 · 4 posts · 1 vote
    9y

    @Alex 

    @Alex Shaughnessy Thank you. I have been getting my financial house in order so I'm glad that is one of the suggestions you made. It helps me feel like I am on the right track. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.