Hello everyone, I am a 22 year old from Louisiana and would like to get in to Wholesaling. I don't have much capital so the idea of Wholesaling intrigued me because of the leg work that could be put in instead of the upfront costs. I'm curious as to what the laws are (if I need a license of some sort) and if there is anyone in the state successfully wholesaling properties.
Hi @Michael Puckett . Welcome to BP! I'm a local real estate investor and licensed realtor here in New Orleans. You've come to the right place to learn anything and everything about real estate investing. Be sure to check out the "education" tab at the top. Lots of great resources there. A good place to start is with the free guides, such as "The Ultimate Beginner's Guide To Real Estate Investing". The bookstore has some great books and the podcast is full of valuable information.
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Check out this recent discussion on wholsaling in Louisiana: https://www.biggerpockets.com/forums/93/topics/661156-wholesaling-in-louisiana
To begin with wholesaling, you will need to first determine which type of seller you want to focus on and then decide which way you will attract those sellers. You will need to do some form of marketing and that usually depends on your individual situation. Do you have the time to do the legwork yourself, or do you have the money to pay someone else to do it?
There are two ways to go about marketing/advertising your business...
You can go a mile wide and an inch deep, which would be marketing large scale such as blanketing an entire neighborhood with direct mail, door hangers, etc. This can get very expensive, very quickly.
Or you can go a mile deep and an inch wide. This would be very targeted niche marketing focusing on one or two particular niches. This is typically the best route to go for small companies with limited marketing budgets.
Check out these posts on BP:
Check out these books:
Best of luck to you and happy investing!
Thank you so much @Braden Smith ! I greatly appreciate the time you've taken to reach out to me and provide me with these resources. If I have any additional questions or concerns about a particular subject are you available and willing to connect?
@Michael Puckett Sure. Feel free to reach out anytime.
Welcome to Bigger Pockets!
This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.
@Braden Smith , I love that post of information. I wish that would be some auto-reply for all the newbies. If we could tag it "new in Louisiana" "newbie" - Great post. Thank you for being so generous with your time & insight.
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