Hey forward-thinkers, good to be back! Just ran out of "Stagnant" town.
So I live in the Cape Cod MA area am looking to specialize in buy and hold ultimately anywhere in my state. I have good credit but no funds to put down or invest generally. I have a VA loan that I tried to use about six months ago but was ultimately told by the VA lender that I needed 12 months worth of 4 utilities/ accounts that I had been current on before I could secure anything and my credit was about 50 points lower than today. I only has 2. So I am considering wholesaling as a strategy to both learn the methods used to pick good deals and also make a little money while I learn. I know there is a tonne of info on it here and in thousands of books out there but I just need to be pointed in the right directions so I don`t roam the whole world and waste time not doing what i should be doing. I have looked at a few properties that I thought might be good deals but felt overwhelmed by the sheer lack of knowledge. I know the general idea but do not know where and how to start.
Any info and direction will be highly appreciated.
So many people on here will tell you that wholesaling is great, and everyone with no money and all the time in the world to drive around and look for deals is great. Wholesaling has changed ALOT over the years. The way people do it now is bordering on working without a RE license. Unless you are willing to buy the deal and then re-sell it to the end buyer, it's not truly wholesaling.
Just my 2 cents.....Invest in your RE investment career and go to RE school and obtain your license. Do it the right way, and save yourself a TON of potential unlicensed fines.
Thanks Cara. I have toyed with the idea of getting a license for years now. I had it once but never really did the realtor work coz i had my real job and just let it lapse. But it sounds like wholesaling has a whole tonne of issues with legality if you are not a realtor.