I'm brand new to BP and have been reading post that are very informative. Unfortunately, I don't have much time to read over 20k posts on info. To start, I have always been interested in real estate since very young but never got started since I thought I needed tons of money to start. About 4 years ago I learned about wholesaling and I said to myself "This is my ticket out of the rat race!" Unfortunately, I fell prey to the "Coaching" programs out there. I bought into Preston Ely, Than Merrill ($4k), ************* ($4k), and countless books full of fluff. They all said I would make tons of money and they would coach me. All I got were a bunch of binders of info and 1 coach call a week for 4 weeks and then after that whenever I had a question, all they did was point to where on the darn binders the info was on.
Anyway, so that's my story on "Coaching". My goals are to start wholesaling and build a crazy wholesaling machine and use the profits to buy real estate and build a huge portfolio. Once, I build a big enough net worth, I want to start investing in other businesses and ventures. I've always been fascinated with Donald Trump and Warren Buffett by the way.
With that being said, I have been trying to get something done in these 4 years that have passed but can't find someone local to either teach me and split first few deals, and the wholesaler in my area said I can't make it on my own and she wants me to work "for her." So I have more incentive to beat her at her own game. LOL
My questions are, every post or info I read says,
Step 1 find property, step 2 contract property, step 3 find buyer, step 4 get paid. But it doesn't explain how to negotiate, fill out forms, or what forms to use (I used to be a RE agent so I have the standard NY Contracts still), or any of the specifics from start to finish.
I am limited on money and DON'T WANT ANY MORE EXPENSIVE COACHING! LOL
Hopefully we can get some tips or point in right direction. And sorry for the long post.
You may have to work with that wholesaler in your area or find a different one to work with.Next,invest TIME reading up info. on BP.
You will also meet a lot of helpfull people here.. ....and we are getting chat soon.
At anyrate,welcome and wish you the best.
Listen to the podcasts man. Also sean terry is great! Listen to his podcasts. for contracts you need to hook up with an rei lawyer. You can meet them at local rei meetings, check meetup.com.
Thanks for the advice guys. I feel like I have been reading so much info here on BP for a long while now ( I just never registered) and other sites, I just want to start acting on the info I have. Because if I just keep planning and preparing, I might never get out of the planning stage. I just want to start putting things into action as I learn them. Unfortunately, Some of the things I read are not completely actionable since it feels like not everything is completely explained.
Join your local REIA, get business cards, a website, Facebook page and take action. Find and call other wholesalers around you and see if they will work with you, most I've come across will if you JV. Hate to hear somebody spending so much, I just think of all the deals that could bedone with that money, not to make you feel bad. Here's all the coaching you should ever need right here on BP and its FREE!! Good luck to ya, its a blast!
The knowledge on this site is crazy ridiculous. However, don't rely on anyone to read it and explain it to you. Coaches are NOT needed. Simply find out the first thing you need to do to get started and then attack the next problem when it comes up. You can find almost any answer to any real estate question in that "search the site" tab at the top right of your screen. It's the best coach you could ask for.
Besides that, go to local REI meetings and find someone that doesn't mind answering a few questions here and there (which is shockingly easy)... Then just treat it like any other job and keep at it consistently. It took me 3 months to get my first house under contract when I started.
Good luck out there.
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