Updated 4 days ago on . Most recent reply
New to REI looking to start with Wholesaling
Hi, my name is Karreta, located in Florida. I'm new to real estate investing and would like to start with Wholesaling with the aim of taking on fix and flip as well as short term rentals later. I've been watching videos and reading books but eager to get hands on experience now. Any suggestions on local networking/REIA groups are welcomed. Also any strategies on how to get started or set myself up for success would be a plus! Looking forward to learning and giving back as I grow.
Most Popular Reply
It's great to hear about your enthusiasm for real estate investing, Karreta! Starting with wholesaling is a smart move, as it allows you to learn the ropes and build your network without needing significant upfront capital. Here are a few tips to help you get started:
- Attend Networking Events: Keep an eye out for local real estate meetups or workshops. These events are great venues for meeting other investors, realtors, and professionals who can become part of your support network.
- Utilize Social Media: As you mentioned, joining local Facebook groups can be advantageous. Platforms like LinkedIn can also be helpful. Engage with posts, ask questions, and share your journey to connect with others in the field.
- Research and Due Diligence: Continue educating yourself through books, podcasts, and online resources. Focus on understanding market trends, property values, and negotiation tactics.
- Build a Team: Consider assembling a team of real estate experts, such as a mentor, real estate attorney, accountant, and contractors. Having reliable contacts will be crucial as you scale your business.
- Start Small: Begin with small deals to gain experience and confidence. This will help you learn the process without overwhelming risks.
- Stay Organized: Keep thorough records of your contacts, deals, and learnings. This will be beneficial as you grow your business.
Remember, the key to success in real estate investing is persistence and continuous learning. Best of luck on your journey, and don't hesitate to reach out to the community for support!