Chicago Newbie Looking to Wholesale

[Brittany Booker]

Hello!

My name is Brittany Booker and I'm looking to wholesale in the Chicago area!  I'm currently in the process of learning everything there is to wholesaling and I'm encouraged by my circumstances to start soon.  I'm looking forward to networking with other investors and obtaining knowledge and offering any help needed!  Wholesaling is my stepping stone for getting into real estate.  What advice would those give as far as how strong the Chicago market is for wholesaling?  Where are good places to network?  I'm also interested in potential mentors!

[Jarrell D.]

@Brittany Booker best advice, get out here and do it.  Don’t inundate yourself with videos and workshops and meetings. The only way to learn is trial by fire, and you WILL mess up, a lot, especially in the beginning. 

Also, anybody or anything that told you, that this is something to do passively, or with “little or no money down” is lying to you. This WILL take LOTS of time, you WILL spend money on gas, signs, zip ties, mailers, BP membership to advertised deals, business cards, your appearance to keep yourself up. 

And nobody is going to do a mind-dump into you about their specific criteria on what they want, and then pay you for it. 

Overall, learn and run your comps, learn school district lines, learn finance cost, learn construction cost as best as you can (you'll never know this until you do a few projects of your own) and just be truthful. Faking it until you make it will only make you look silly. Lying about your background or construction costs or ARV will only come back on you....try to be as prepared as possible but if you don't know, just say you don't know.

Persistence is the most important thing. So many people start this and fizzle out in a month when they see it’s not what some video or seminar made it out to be.

For comfort, start in your own neighborhood. Then expand out.