Wholesaler · Monroe, NC · Member since 2015 · 15 posts · 6 votes
I have been learning how to wholesale houses through courses, books and Youtube videos. I pretty much know what to do in terms of the step by step process on how to wholesale a house, the only thing that is stopping me is fear. I would like to have someone that I can reach out to, via email,text, phone or even in person locally. Knowing that there is someone in my area that I can shoot a text to if something goes wrong or in a case that I didn't know what to do in the wholesaling process would eliminate my fear. If anyone in the Charlotte,NC area is willing to provide mentoring, please PM me. Thanks
Mentoring is great. I still get coaching as there's always something to learn. If you don't get a response on here I recommend doing the following.
1. Set up a keyword alert for your specific area.
2. I'd then create a post on BiggerPockets saying where you are from and that you're looking for advice on how to find an ethical mentor in your area.
^This will help promote you with other people who have keywords set up for your area. (But make sure you don't say, "I'm looking for a mentor in my area, any takers?" As that will get you kicked off for solicitation - hopefully this one doesn't but I've some that have)
3. Then I'd be on the lookout for established wholesalers and investors in your area that pop up from your keywords.
4. Once you find a few that look interesting, take them out to coffee. Make sure you interview them and get a feel for them. (working with them is a mutual agreement)
5. If you like them, and they seem like a good fit, then ask if you were to find some deals, if you could bring the deals to them for them to buy and then offer a 60/40 split (they get 60%) if they'll agree to walk you through the process of closing on it/selling it. And state that you'd obviously do a lot of the leg work, you'd just need to be shown what to do.
6. Then offer, if they have any other needs in their business, that you're really hungry to get involved and to learn the business, so if they needed help answering phones, cleaning toilets or whatever, that you'd love an opportunity to work with them and help out.
7. Then actually do it, if they offer you something.
8. Begin looking for deals via free resources, (here's a good guide to get you in the right direction: https://www.biggerpockets.com/renewsblog/2014/04/23/acquisitiondomination/). Also consider driving for dollars, posting signs at coffee shops, etc.
9. Learn how to run comps and analyze deals the best you can (search on the BP blog for 65% rule for wholesalers) and then when you think one might be a good deal, bring it to the investor who has agreed to purchase the property, and ask him to confirm your comps and give you feedback.
10. Then if he likes it, boom: you now have a real estate mentor and you just rinse and repeat moving forward.
Mentoring is great. I still get coaching as there's always something to learn. If you don't get a response on here I recommend doing the following.
1. Set up a keyword alert for your specific area.
2. I'd then create a post on BiggerPockets saying where you are from and that you're looking for advice on how to find an ethical mentor in your area.
^This will help promote you with other people who have keywords set up for your area. (But make sure you don't say, "I'm looking for a mentor in my area, any takers?" As that will get you kicked off for solicitation - hopefully this one doesn't but I've some that have)
3. Then I'd be on the lookout for established wholesalers and investors in your area that pop up from your keywords.
4. Once you find a few that look interesting, take them out to coffee. Make sure you interview them and get a feel for them. (working with them is a mutual agreement)
5. If you like them, and they seem like a good fit, then ask if you were to find some deals, if you could bring the deals to them for them to buy and then offer a 60/40 split (they get 60%) if they'll agree to walk you through the process of closing on it/selling it. And state that you'd obviously do a lot of the leg work, you'd just need to be shown what to do.
6. Then offer, if they have any other needs in their business, that you're really hungry to get involved and to learn the business, so if they needed help answering phones, cleaning toilets or whatever, that you'd love an opportunity to work with them and help out.
7. Then actually do it, if they offer you something.
8. Begin looking for deals via free resources, (here's a good guide to get you in the right direction: https://www.biggerpockets.com/renewsblog/2014/04/23/acquisitiondomination/). Also consider driving for dollars, posting signs at coffee shops, etc.
9. Learn how to run comps and analyze deals the best you can (search on the BP blog for 65% rule for wholesalers) and then when you think one might be a good deal, bring it to the investor who has agreed to purchase the property, and ask him to confirm your comps and give you feedback.
10. Then if he likes it, boom: you now have a real estate mentor and you just rinse and repeat moving forward.
Hi Guerillmo, I'm no longer investing but I know the greater Charlotte area including Monroe..im here and feel free to pm me with questions on specific properties areas etc. I'm not a competitor or a broker : )
@Lisa Hoover, do you do any work outside of the Charlotte area? I am there about once a month but do most of my business in Fayetteville. I look forward to hearing from you :)
@Guillermo A. , Hi Nice that you are starting at a young age. You can reach out to me whenever you need to. I dont know it all but I also have a mentor that has help me along the way! He has been in the business for 20 plus years!