Starting to wholesale real estate at 18.
2 Replies
Jacob Gomes
New to Real Estate from Fullerton, CA
posted about 2 months ago
I am an 18 year old student wanting to get started in real estate as early as possible. I have spent a lot of time listening to the BiggerPockets podcast and reading some forums and blogs on here.
I know I cannot buy a fixer right now to get started on holding real estate and renting it out but I am really interested in wholesaling. I have done some research on my own but would love to talk to people that have done it themselves and soak as much information up as possible. I live in the Orange County area specifically Fullerton, CA.
Joe Homs
Flipper from Mission Viejo, CA
replied about 2 months ago
@Jacob Gomes you can start by concentrating on the information below and reaching out to people that can help with more:
LEAD GENERATION
- Bandit Signs
- Cold calling
- Probates
- NOD's
- Direct Mail
- Any list
- Door Knocking
- a. NOD's
MY PURCHASE RULES
70-80% of ARV
Rehab:
10% of ARV or
$45 sqft under 1500sqft
$35 sqft over 1500sqft
Condo’s $55K
Closing Costs 4.5%
WHAT YOU SHOULD ASK?
- What is happening?
- What is their situation?
- What is the ARV, LOANS, EQUITY?
- How much do they want?
- How much can you offer?
- Negotiate, negotiate, and negotiate.
Go get them now.
Happy Investing...
Jacob Gomes
New to Real Estate from Fullerton, CA
replied about 2 months ago
@Joe Homs Thank you for your response!