Proper Wholesaling and Investing
I've read several posts and people seem to say that most wholesalers don't have two nickles to rub together, and don't know what they're doing, but their are some who do know what they're doing and can be very beneficial to a busy investor.
I'm an aspiring REI who is still learning, and I want to know what I'm doing before I start. I plan to start with wholesaling, using an FHA on a multi family, and eventually investing in all other avenues of the business.
I'm starting with wholesaling because yes, I barely have two nickels to rub together. That being said, I think it will be a good way for me to get some experience in the business and help other investors take advantage of deals until I can invest on my own. It seems there isn't much competition so when I prove I'm one of the few that actually knows what they're doing, I'll have some cash buying investors who will give me a chance when I say I have a deal. I'm not someone who had just saw an ad and is looking for a get rich quick. I'm looking to be involved in the business for the rest of my life, im just starting with what I have instead of sitting around waiting for tomorrow.
My concerns with investing are that to do an efficient job, and ensure I have a great deal, I will need inspections and appraisals. Paying those fees and then having the property be a dud will really set me back. How exactly do people that are starting out ensure that they have a good deal without spending hundreds of dollars on every property they have an interest in?