Hello - I'm looking to connect with a wholesaler as a Buy and Hold investor in Jersey City Heights area. Any suggestions on the best way to connect? Have been looking on MLS/Redfin/CL but no great deals on here. In driving around there are deals to be had....not sure if I have the stamina and time with my job for sending out postcards and knocking on doors.
Search the forums for a RE Investment group in your area.
Wholesalers are very easy to find. Go to your local craigslist, and post that you are a buy and hold investor, and you want to get on buyers lists. Then they will find you. You can also troll CL for anyone who has more than one house for sale. Send those people a simple email "hey this house really isnt want I am looking for, how do I get on your buyers list?" You should also go to the BP networking section and send direct contacts to anyone in your target city.
I hope that helps
Nick, I would probably not just get any wholesaler. I am assuming you don't have a lot of experience doing rehabs or evaluating deals, and I apologize if I am wrong. I would focus on finding someone that is doing what you want to do and propose a mentorship rather than go find a wholesaler.
There are lots of newbie wholesalers now, and the likely hood you are going to waste a ton of time with them is pretty high.
Find a solid mentor, do a couple deals, narrow your system and then find wholesalers to fill your pipeline.
Thanks all, will check that out.
@Rafael Floresta you are right, I am still looking for my first deal.
Hi Nick -
The local REIA is Tri State Mixer. They have frequent meetings in both NYC and NJ. They have regular events including seminars and workshops (all reasonably priced). Then make a point to network with folks in attendance.
At those events, be careful is anyone promoting high-cost education. That group functions by making money through membership fees, house tours, and education, so just really think through whatever offer you get pitched. I've gotten burned buying into "the dream" too many times, so I'll always press newbies to think before they spend their hard-earned money. BP has so much here, especially after you hang out for a while.
Another idea for finding wholesalers - call the band-it signs phone number you see everywhere. Those are folks are likely wholesalers. Even if they're also starting out, not working in your area, or not someone you ultimately work with, making that call will get you more comfortable presenting yourself and honing your own sales pitch as an investor.
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