Hi my name is Cyril,
First, I am a real estate agent working with sellers for the last 4 years and now I'm looking to become an investor.
I have no funds and not that great credit and need to get some $$ as soon as I can...so If I'm not wrong, wholesale might be the right type of invest to start in my case. I'm planning to be a landlord in the future and do some flip sometimes. As a Real estate agent, I do a lot of cold calls and i'm familiar with expired listing, fsbo,and just classic cold calls..so I started to create a buyer database that might be my potentials buyers in the future. I'm going in 2 days to an investors meeting for the first time and I'm now part of this forum to learn how to do my first deal and I really really realy REALLY want to do it in the next 30 days ! Do you guys think it's possible ? Where or how should I "Fast start " ?
As licensed agents we are held to a hire standard than the general public. I would make sure that you fully understand the legalities of wholesaling as an agent in your state. As long as all of that works out.... 30 days to actually get paid? That's pretty quick. Most title companies take around 2-3 weeks to close. So you would have to find a deal, a buyer, and get everything over to title in about a week.
Go for it. It doesn't hurt to try. 30 days might be pushing it depending on how big your list is.
Wholesaling is hard because you have it get it low enough for you and the investor to make money.
yes i wanna do it .what should i do first ?
find a property first ? find a buyer first ?
im going in 2 days in this re investor local meeting what should i ask or what should i look for in this event ?
Go find the deal first!! If it's a good enough deal there will always be buyers!
ok i might have an interesting deal ,a triplex under market value ..,what should i do now ?
Hi @Cyril M.
First I would analyze the deal with the BP calc or you can use your own spreadsheet.
I always look for 100+ a door for it to be worth it. Also a 12% COC return.
Most deals on the MLS are not worth it... It takes time and you are looking for a GREAT deal-
Once you are pre qualified, you can then work on making offers on houses you wish to purchase.
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