Driving for Dollars..then what?

4 Replies

Q:

Hi, I am a newbie and I took the leap and went to my first REIA last night and got some contacts, then I did my first driving for dollars today! I did find some possibilities.. my strategy is wholesaling, assigning the note..my Question is, what do I do next?? thank you!

Welcome Jake! Good job on getting started.  I would recommend doing a little research on the forum, there are a lot of posts talking about this very thing.  Also educate yourself in different exit strategies.  Wholesaling is a great tool, but it wont work for every deal you come across.  Start networking with different people in your area and find people that focus in other avenues and see if you could partner on a few deals so they could walk you through the processes.  

Good luck!

Find the house, then contact the owner to see if they are interested in selling. The key is understanding the value and how much time and money need to go into the property. Understanding value is critical and then you can find out what you will pay based on the profit you are looking for. Let me know if I can help any further.

Originally posted by @Keith Schwoerke :

Welcome Jake! Good job on getting started.  I would recommend doing a little research on the forum, there are a lot of posts talking about this very thing.  Also educate yourself in different exit strategies.  Wholesaling is a great tool, but it wont work for every deal you come across.  Start networking with different people in your area and find people that focus in other avenues and see if you could partner on a few deals so they could walk you through the processes.  

Good luck!

Hi Keith

I will look around the forums and search for that. I definitely dont plan to use wholesaling as a long term strategy, but I hear what you are saying, that each deal is unique. Good idea to partner with someone for now, I would be more than willing to give up equity for the direction and education..thanks alot

Originally posted by @Matthew Teifke :

Find the house, then contact the owner to see if they are interested in selling. The key is understanding the value and how much time and money need to go into the property. Understanding value is critical and then you can find out what you will pay based on the profit you are looking for. Let me know if I can help any further.

Ty Matthew,although I am planning to wholesale it, I guess I just need to somehow get experience with rehab estimates

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