Fort Myers , FL · Member since 2017 · 1 post · 0 votes
Hello BiggerPockets members,
My name is Anthony Papagni and I am new to real estate investing. I was licensed as a real estate salesperson in Michigan for a few years before I moved to Florida, but I never really gained any traction. I am extremely motivated to get my license here in Florida, but I would prefer to be more active in investing, specifically wholesaling to start out. After doing my due diligence and educating myself on many different REI topics, I've decided the best way for me to get started is wholesaling, but I am having trouble figuring out exactly where to start. Hence...this post. Can anyone chime in on how they started in wholesaling, specifically with little to no money and how you were able to build upon it to engage in other REI opportunities? I would appreciate that very much.
Rental Property Investor · Ypsilanti, MI · Member since 2016 · 230 posts · 86 votes
9y
Driving for Dollars! Simply drive around areas you'd like to invest in, note the addresses of homes that look vacant or in need of TLC, look up the owners' contact info, send them a letter offering to purchase their home for cash with a quick closing, negotiate a good price, get the property under sales agreement, then post the deal here in the marketplace to find a buyer, then close the deal with the end buyer holding title to the property, the seller is rid of the troublesome property, and you have made the wholesale fee. Win-win-win. Best wishes!
Rental Property Investor · Ypsilanti, MI · Member since 2016 · 230 posts · 86 votes
9y
Driving for Dollars! Simply drive around areas you'd like to invest in, note the addresses of homes that look vacant or in need of TLC, look up the owners' contact info, send them a letter offering to purchase their home for cash with a quick closing, negotiate a good price, get the property under sales agreement, then post the deal here in the marketplace to find a buyer, then close the deal with the end buyer holding title to the property, the seller is rid of the troublesome property, and you have made the wholesale fee. Win-win-win. Best wishes!
Wholesaling in not illegal in Florida. You will see many opinions on wholesaling in Bigger Pockets, but most of them are based on investors doing deceptive marketing techniques. If you follow reputable guidelines for wholesale marketing and agreements, you can have an active and thriving wholesale business like we have in Florida.
Just to let you know we are kindred spirits. I started in Michigan with turnkey investing and moved to Tampa to expand the business. We still have a full team in Michigan, but I am in Florida like you. If I can ever be of help just let me know.
Real Estate Agent · Clearwater, FL · Member since 2016 · 298 posts · 53 votes
9y
@Anthony Papagni I am an Investor Friendly Realtor and investor myself. Driving for dollars is definitely a great way to start, but honestly there is a much easier way. Get your real estate license for Florida, find a brokerage that will let you hang your license and not charge you ridiculous desk fees or anything like that. Since you would be an active agent, other agents,like myself, would be happy to pay you a referral for bringing us a property to buy or if you bring a buyer to one of or properties. Being an agent, If a property came across your desk or you found one while driving around, you could bring the address to an agent like myself, we would do the homework and buy directly from the seller/owner and you would get a referral for finding the property for us. It is very plausible to do that once a day and potentially make a couple grand every week once the momentum picks up. If you have any questions, feel free to reach out! Thanks!