A knowledge-thirsty, newbie wholesaler from Pittsburgh, PA

A knowledge-thirsty, newbie wholesaler from Pittsburgh, PA

Real Estate Investor · Pittsburgh, PA · Member since 2014 · 15 posts · 3 votes

Hello BP!

My name is Nastassja and I'm a newbie wholesaler-wannabe dwelling within Pittsburgh, PA. The first thing I want to say is that I'm so thankful this community exists. Honestly.

Let me start with my background. Following my parents advice, I went to college...over and over again. I ended up wracking up debts for a degree that would never pay it off. It was stupid - but that was all I knew about how the world worked. You go to college. Get a 9-5 job. You live meagerly paying off debts for 10 years. Then you're able start working towards your retirement. I didn't know anything else back then. $80k later, I've got a degree in culinary. The average rate of pay for food service is $10-14/hr. It wasn't even close to worth it. 

Up until a week ago, I had been planning on how I could get myself out of this mess. I looked up difference positions, higher salaries, the college degrees I would need to obtain those salaries -- and all of a sudden, my mother invited me to a seminar -- a Yancey: Boots on the Ground seminar. I didn't know what this was at the time - she only told me it was a 3-day intensive real estate seminar. She tried to explain that she found a way to help me pay off my debts so I can actually have a financial future. She gave me no names, so I could not look it up (and I did badger her to tell me). It was in those classes that I had found out she had paid $30k to take them and I could not tell you how angry I was when I heard this. 

ANYWAY, regardless of her decision to spend money she didn't have and will now owe, and the questionableness of the price-to-information ratio the seminar held, the seminar actually did provide quite a lot of information I had never known about REI before, and the potential returns did interest me quite a bit. So much so that I happily quit my meager $10/hr job to try this career out. My mother and I started a team including one other person, but if I can close even ONE $500 deal in a month, I would have made my ENTIRE paycheck. But I have much bigger goals than just that...

Although I own no properties, and I don't have any sort of background in real estate investing, I am a non-stop learner. And as long as there is information on the internet, and educated/experienced mentors willing to share their knowledge and experiences, I know I can succeed in this. That expensive seminar still let me with way too many questions that they refused to answer, and even though there is a "mentor-hotline", they often leave me feeling like they are just trying to sell me something... 

So that's what brings me here to the great people of BP. I look forward to learning every detail there is to wholesaling from those of you who have dabbled and mastered it, and gradually reaching a point to flip or hold.

Till next time!

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Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
11y

@Nastassja S.

Welcome. Time to build the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Couple good reads 

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul

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  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    11y

    Welcome to Biggerpockets!

    The one thing we all agree about is real estate. Other wise everyone has different opinions on what to invest in and how. Another great place is to look around the blogs, forums and listen to the podcasts. If you see a post you enjoy check out the persons signature. Many of us including myself talk about our strategies, styles, niches and business model on our website. So definitely check that out as it is an amazing additional resource. For example, my blog is about while working full time, buy and hold investing, 0% Down Rentals, Personal Properties turned rentals, Long distancing investing, self-managing 3,000+ miles away. Definitely list your blog or website in your signature, if you have one. Its a great additional networking source.

    Look forward to seeing you around! Let me know if I can help!

  • Professional · Pittsburgh, PA · Member since 2013 · 88 posts · 42 votes
    11y

    Welcome Nastassja!! What a great entrance story, I love it. I am not far from you and I am a big Pittsburgh person. Its my favorite city in this region and my roots are strong there. I look forward to accumulating investments there too. I look forward to hearing your stories as a newbie wholesaler!! I have been interested in that strategy as well but in order to be successful at that I imagine I'd have to give up my day job (which I am not ready to yet haha), but I do gain lots of experience from being a PM which is what I do currently, along with some other side work. Go get 'em!

  • Real Estate Investor · Pittsburgh, PA · Member since 2014 · 15 posts · 3 votes
    11y
    Originally posted by @Elizabeth Colegrove:

    buy and hold investing, 0% Down Rentals, Personal Properties turned rentals, Long distancing investing, self-managing 3,000+ miles away. 

    All these sound like business concepts I would love to use much sooner than later! I will have to look up more info on these. Your blog would be a fantastic start for me. Thank you for your help!

  • Real Estate Investor · Pittsburgh, PA · Member since 2014 · 15 posts · 3 votes
    11y

    @Jen Kurtz 

    Thank you for the encouragement, Jen! I do love all that is Pittsburgh. There's so much potential here. And you just gave me an idea to start a personal blog narrating my efforts along the way somewhere on my profile page if it allows that at all (and if I can make time for that). Maybe in a few months I can look back and appreciate how far I got. 

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    11y

    Hey @Nastassja S. thanks for jumping in and introducing yourself! If you haven't yet- be sure to setup some "Keyword Alerts" to get into conversation in your target area.

    Seeya around!

  • Pittsburgh, PA · Member since 2014 · 34 posts · 4 votes
    11y

    Hey @Nastassja S. 

     Welcome to BP. I am also a Newbie wholesaler from Pittsburgh. You will find this site to be very very helpful. Let's keep in touch. Maybe we can help each other out and bounce ideas off one another. 

  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    11y

    @Nastassja S.

    Welcome. Time to build the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

    Couple good reads 

    You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good luck

    Paul

  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    11y

    Hey @Nastassja S. welcome to BiggerPockets! This is a good place to start learning about REI. Make the most of the site by checking ‘The BiggerPockets Start Here Page’

    BiggerPockets
  • Phoenix, AZ · Member since 2014 · 24 posts · 8 votes
    11y

    So many people are still buying the "going to college is the golden ticket" program because, as you said, that's all they know about. I hope high schools begin to introduce more creative ideas to students. 

    I'm a newbie too and so glad to have found this site, which has all the education we'll need, free!

    I wish you the best with your new company. 

  • Pittsburgh, PA · Member since 2014 · 79 posts · 70 votes
    11y

    @Lynn Lewis 

    Statisticly college graduates earn more than those that stopped with high school.  Whether the higher earnings justify the costs associated with the education depends a lot of the major, school choice and most importantly the effort of the student.  Are they there to learn or to go to keg parties?!!

    However, I think the biggest issue is TRULY knowing what you want to do with your life.  I don't think many teens are equipped to answer that question and merely take the path they think they are supposed to or are steered to.  I know I wasn't ready for that decision.

  • Investor · Carnegie, PA · Member since 2014 · 259 posts · 144 votes
    11y

    Welcome @Nastassja S.! I'm also from this Pittsburgh area. Looking forward to seeing you around the site

  • Real Estate Investor · Pittsburgh, PA · Member since 2014 · 15 posts · 3 votes
    11y

    You are all so welcoming and I'm truely grateful.

    I will definitely bookmark and read all the links provided. Thank you for steering me in the right direction. There's so much information on this site I was concerned where to start. 
    Looking forward to speaking more with you all. Thanks again!

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