I’m looking for any advice on beginning wholesaling? I’ve been doing a lot of research and trying to figure out the best way to go about finding sellers.

@Megan Lowery The best advice I can give you is to create a budget for how much you can afford to spend each month on marketing to find sellers. There are expenses that come along with being a successful wholesaler and if you dont have the money to spend on marketing, keep saving until you do. Good luck!

@Megan Lowery I would recommend getting educated on all that is entailed in wholesaling. There's a lot required. Have you gone to any local REIA meetings? Do you have a coach or mentor? Have you worked on a business plan?

@Lydia T. Thank you! I have some money to spend, I just want to make sure i’m spending it on the right things. What do you recommend?

@Dan Barli Thank you! I have done a lot of research, and spoken to a few successful wholesalers in my area through an REI facebook group. I have not yet gone to a meeting because my college class is at the same time, but I plan to.

@Megan Lowery There are a few things to consider

1. Where will your leads come from? Will you be buying a list? D4D? Bandit signs? Whatever the source, know the cost associated with it.

2. How will you reach your leads? Door knocking? Cold calling? Letters? Postcards? Social media? Decide which method(s) you will use and factor that cost in as well.

3. LLC—different people have different opinions on this but mine is that you should have an LLC if you are going to be wholesaling.

4. Website—its not expensive and it goes a long way towards establishing your legitimacy. Whats the first thing you do when a company sounds fishy? You google them right?

5. Cash for misc expenses—such as EMD, contractors (if you are new Im going to guess that youll need help estimating repair costs and contractors wont do it for free) comps—if you arent licensed you will need an agent to run comps for you on properties and I am a believer in compensating people for their time.

6. CRM—some centralized system for keeping track of your leads. Some people make do with an XL spreadsheet, I am not one of those people.

Hope this helps. Feel free to PM me if you have questions!

@Megan Lowery There are a few things to consider

1. Where will your leads come from? Will you be buying a list? D4D? Bandit signs? Whatever the source, know the cost associated with it.

2. How will you reach your leads? Door knocking? Cold calling? Letters? Postcards? Social media? Decide which method(s) you will use and factor that cost in as well.

3. LLC—different people have different opinions on this but mine is that you should have an LLC if you are going to be wholesaling.

4. Website—its not expensive and it goes a long way towards establishing your legitimacy. Whats the first thing you do when a company sounds fishy? You google them right?

5. Cash for misc expenses—such as EMD, contractors (if you are new Im going to guess that youll need help estimating repair costs and contractors wont do it for free) comps—if you arent licensed you will need an agent to run comps for you on properties and I am a believer in compensating people for their time.

6. CRM—some centralized system for keeping track of your leads. Some people make do with an XL spreadsheet, I am not one of those people.

Hope this helps. Feel free to PM me if you have questions!

@Megan Lowery sounds good. Learn as much as possible to ensure your success.

Watch Max's stuff: https://www.youtube.com/channel/UCnkmQCJ4f6rRl1PXCblppvA

Go out and find some distressed properties or buyers and start making offers.

My .02

@Megan Lowery  Welcome to the world of Real Estate! 

Networking is the most important tool of a wholesaler. Definitely, attend your local REIA meetings to network with pros and to learn more about Real Estate. You can also find lots of helpful posts here on BiggerPockets. Keep learning more and more until you are confident enough to start closing down deals. Patience is key when looking for great deals. But, once you find one, know that investors will come flocking to you.

Good Luck!