Wholesale for down payment?

2 Replies

Hey everyone! I was told that I could start I could wholesale to get my down payment to do my first property and start with $10. I'm not knowledgeable in wholesale so trying to figure out if anyone has done this before? I got an excellent source of education for pretty cheap. Just would like to hear some success stories with the method.

Wholesaling with $0 is often "taught" by gurus, but is not practical, and almost impossible. You will need to have money for marketing to sellers or need to get extremely lucky, which can happen from time to time. People also win the lottery from time to time, but that doesn't make it a repeatable business plan. 

Education is valuable, what's even more valuable is experience. Get a job in real estate if you're serious about it, learn while you earn, although don't expect to earn much on the front end. It pays off if you stick with it.

Originally posted by @Nick C. :

Wholesaling with $0 is often "taught" by gurus, but is not practical, and almost impossible. You will need to have money for marketing to sellers or need to get extremely lucky, which can happen from time to time. People also win the lottery from time to time, but that doesn't make it a repeatable business plan. 

Education is valuable, what's even more valuable is experience. Get a job in real estate if you're serious about it, learn while you earn, although don't expect to earn much on the front end. It pays off if you stick with it. 

Thank you for the input. I've heard of the gurus. Thank God my mentor isnt one of those. I think I'm going to invest in the knowledge and invest in a real estate license. I have been looking for a part time VA position just for experience. I appreciate the information! Helps my decision.