As a beginner, I Need help how can I get started wholesaling real-estate.

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Stephen MoralesBusiness Member
Jacksonville, FL · Member since 2025 · 402 posts · 205 votes
1y
Quote from @Armstead Lardell Wilkins jr:

I've been hearing good thing about wholesaling real-estate and want to get started but i don't know where to start.


 If you need a workflow I'd be happy to send a generic one over that provides steps to get started. Essentially it goes like this: 

1.) Select the market(s) you want to operate out of. Preferably locally to you. Study it.

2.) Allocate a marketing budget that gives you 60-90 days of runway before closing your first deal. 

3.) Based on your budget select your marketing approach. Cold calling is one of the most cost effective methods for lead gen in terms of acquisitions and finding buyers for dispo. Some people ignore SMS laws and do texting, some cold email, direct mail etc. Inbound you have PPC (very expensive for it to be effective), SEO (time consuming), and PPL (risky). 

4.) Find a title company that is used to working with wholesalers and contract assignments. 

5.) attend local REIA meet ups to expand your network.

6.) You also need contracts, PSA (purchase and sale agreement), JV agreements, Assignment of contract etc.

There's more but that should give you a gist on what to start working on before you start your campaigns. 

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  • Que Tran
    Real Estate Agent · Scranton PA · Member since 2019 · 93 posts · 98 votes
    1y

    Definitly check with the state laws. In PA - it is only legal if you meet some of the rules (Act 52):

    1 - You have to be a licensed agent (realtor)

    2 - You have to identify your intentions (that you plan on selling the contract for profit)

    3 - Seller A has 30 days to cancel without cause or penalty (and still get back their EMD)

    4 - All monies must run through a brokerage (and then agent splits)

    5 - Must allow all parties to consult with an attorney, appraiser, another realtor


    Engaging in wholesaling without the required license can result in civil penalties, including fines up to $1,000 per violation, as enforced by the Pennsylvania Real Estate Commission.


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  • Stephen MoralesBusiness Member
    Jacksonville, FL · Member since 2025 · 402 posts · 205 votes
    1y
    Quote from @Armstead Lardell Wilkins jr:

    I've been hearing good thing about wholesaling real-estate and want to get started but i don't know where to start.


     If you need a workflow I'd be happy to send a generic one over that provides steps to get started. Essentially it goes like this: 

    1.) Select the market(s) you want to operate out of. Preferably locally to you. Study it.

    2.) Allocate a marketing budget that gives you 60-90 days of runway before closing your first deal. 

    3.) Based on your budget select your marketing approach. Cold calling is one of the most cost effective methods for lead gen in terms of acquisitions and finding buyers for dispo. Some people ignore SMS laws and do texting, some cold email, direct mail etc. Inbound you have PPC (very expensive for it to be effective), SEO (time consuming), and PPL (risky). 

    4.) Find a title company that is used to working with wholesalers and contract assignments. 

    5.) attend local REIA meet ups to expand your network.

    6.) You also need contracts, PSA (purchase and sale agreement), JV agreements, Assignment of contract etc.

    There's more but that should give you a gist on what to start working on before you start your campaigns. 

    [email protected]
    PrimeTracers
    WebsiteView Page
    2Reply
  • Lydia R.
    Investor · Austin TX · Member since 2016 · 1k+ posts · 2k+ votes
    1y
    Quote from @Armstead Lardell Wilkins jr:

    I've been hearing good thing about wholesaling real-estate and want to get started but i don't know where to start.


     Wholesaling is not as straight forward as it used to be. Make sure you research the rules in your state because many states have some kind of regulation about assignments of contract and you want to know what the rules are in your market. The best place to start is learning the process. I see so many newbie wholesalers that watch one youtube video and decide they know everything they need to know. Learn the process, get the documents (all you need is a purchase agreement and an assignment of contract agreement) and find a title company that is wholesaler friendly. Having the right title company is going to make you so much more money. Take the time to find one that is going to be an ally for you.  

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