Use Wholesalers to Find Deals?
Look, I'm becoming overwhelmed at the task in front of me. I've never bought an investment property, but I need to magically become a wizard-ninja at finding good deals. If our first investment doesn't go well, my wife, who is already nervous about this whole real estate investing thing, will fall apart. I'm out 5-7 hours a day looking for deals. Driving around the city, checking KSL, calling real estate agents, calling absentee home owners from PropStream, scanning MLS, calling foreclosures. I feel like i'm getting nowhere.
Homes in Utah are expensive. Even tiny, run-down 2/1 houses are well over $200K. Meanwhile I'm watching people on YouTube buy $40K houses, charge $1200 rent, and cashflow $900 per unit in C-class neighborhoods! How will I ever pull numbers like that in Utah? I'm thinking "Crap! will I have to move to Ohio just to BRRRR some cheap houses?!
Then today I called a wholesaler. Should I work with wholesalers? Or should I work on becoming a ninja at finding off market deals? And if I should work with wholesalers, where do I go to meet a bunch of them? I feel alone. I want to find a local support group or something because this is all too to overwhelming on my own just starting out. I want to run with a herd. Are there any herds of RE Investors in Ogden Utah that meet weekly to regale each other with heroic stories of investing victories and share their investing wisdom in person?
Several people I know keep trying to recruit me to join RENATUS which costs $20,000 (whoa!) I mean, gees, I already paid Kris Krohn $3K. Do all R.E. investor groups cost money?
Anyway whatever, my main question is should I work with wholesalers.
Thanks, I didn't expect this to be a rant. Sorry.