New To Real Estate Investing/ Wholesale
Brandon, FL · Member since 2017 · 3 posts · 0 votes
Hello my name is Kevin and I am brand new to the real estate community. I considered looking into real estate a few years ago but was unable to successfully take the time to gain the knowledge of real estate investing. I recently attended a real estate investing workshop in Tampa, FL and concluded that I needed to pursue real estate investing instead of procrastinating on getting started. However, I am skeptical of the real estate academy workshop promising lenders waiting to fund homes and buyers waiting to invest in the properties. I read some of the reviews and would like some help to gear me in the right direction regarding wholesaling. Once I have enough capital i would like to invest in properties myself.
You're correct to be skeptical, but what they are telling you is absolutely true. There are plenty of lenders to fund deals and there are plenty of buyers. Unfortunately that information is irrelevant. All that matters is getting deals. All this business is is getting deals. Unless they teach you how to do that, you can take a nap in their seminar. Generally guru information falls into one of two categories: outdated or irrelevant. So if they do teach you the only relevant thing they can, which is how to find deals, unfortunately it's most likely outdated.
Hey @Kevin Ulysse
I wouldn't pay any attention to those large guru seminars. between this website and local meet ups you can go to, you will be able to learn everything you need to know. I would check out meetup.com for meet ups over in Brandon. I have been to a fair amount of good ones over there. If you are looking to learn more about hard money, flipping, or wholesaling definitely reach out to me.
Good luck
You're correct to be skeptical, but what they are telling you is absolutely true. There are plenty of lenders to fund deals and there are plenty of buyers. Unfortunately that information is irrelevant. All that matters is getting deals. All this business is is getting deals. Unless they teach you how to do that, you can take a nap in their seminar. Generally guru information falls into one of two categories: outdated or irrelevant. So if they do teach you the only relevant thing they can, which is how to find deals, unfortunately it's most likely outdated.
Thank you for the input. So what would you suggest the first step/s to take regarding wholesalers and finding the correct people to do business with?
Hey @Kevin Ulysse
I wouldn't pay any attention to those large guru seminars. between this website and local meet ups you can go to, you will be able to learn everything you need to know. I would check out meetup.com for meet ups over in Brandon. I have been to a fair amount of good ones over there. If you are looking to learn more about hard money, flipping, or wholesaling definitely reach out to me.
Good luck
Thanks for the insight. I am going to look at the website and I am interested in reaching out. Whats the best way to contact you for more information?
@Kevin Ulysse, this is a great place to learn all that you can. Check out the podcasts, and get involved in the forums. Good luck moving forward!
Simple answer is work hard .. the real estate seminars and these so called guru's always claim that it is so easy to do .. and that part is not really a lie .. you dont need to be a scientist to start learning how to wholesale and then flip and invest in buy and holds .. but it does take work and lots, and lots of no's but stay consitant and determined and you shall succeed .. how do you start though .. well right here on this website is a great place to start.. become a sponge.. read every post that pertains to what it is your interested in learning about real estate whether it be wholesaling,flipping, buying notes , tax liens ..ect... focus on one thing at a time .. listen and ir watch the podcasts ..they are all in archive as well but i think you need a paid membership to access them .. if you decide to pay for a membership do yourself a favor and watch at least one podcast beforehand ..they put 20% discount coupons at the end of most of them .. it will save you around $60 on a pro membership .. i was on here for a week before i signed up for a paid memb.. Im pretty sure there is a podcast coming up that goes over how to best use BiggerPockets website .. i woukd suggest everyone that new and old watch this.. being apart of this website has literately changed my life for the better .. it has allowed me to meet certain people that i eventualky partnered up with on flip properties .. it can happen for you as well .. Ok ..so in between all that time online you should be reading books about money and investing and real estate .. here's one of everyones favorites .. Rich man poor man .. most of these book are avalible for sale right here on this site .. another is ..the art of the deal .. there are many more all great ones offer a different info and my enlighten you to view things through different eyes ..mist people go through life with blinders on or fogged goggles .. then there's the ones that have blinkers instead of blinders .. lol.. hazards ..lol.. so that it in a nut shell ... you should take your time reading so that you remember it .. try to write down or highlight areas that you feel are important .. google some of the richest people in the world like .. what books do Warren Buffet recommend ..I olny thought of that now but im sure it will work on most .. i wish you the very best ... and please remember that as a wholesaler you can attrack more investors and flip properties before you even sign them into contract .. how you ask ? I'll give you a example ..lets say you and i ( a investor that buys and rehabs to flip ) get together on a deal that you found and you just mark it up a bit .. in order to make a fee if you will .. so if you sell it fir a resonable price and leave plenty if room fir me to make a orofit after rehabbing it .. then we do another .. and another .. soon you will call me first because you and i have built that relationship up to where you know as long as the property is investable and rehab-able then you would have a 99% chance of selling it to me before you even get it under contract .. it would certainly help you if you knew the market $$ and rehab costs as well or you may get stuck with a property and get sued by not being able to close on it .. but most wholesalers have a way out of the contract with homeowners in case they cant find a buyer .. there is controversy when it comes to this and may be illegal one day soon but for now .. people get away with it .. myself i would just be honest when approching homeowners and explain that you know a bunch of all cash buyers that would be interested in their house and you can guarantee a certain price for them .. explain that it is the buyers who pay your fee .. like i said before ... more flies with honey ...
God Speed ,
Michael Short