Looking to learn more in regards to wholesaling. I am wondering what has been the best education that everyone has received or signed up for?
@Kendra Castellanos Don't be a wholesaler...
Why do you want to wholesale?
I am looking to invest and flip some to retail. What are your thoughts against wholesaling?
Yeah I'd like to hear as well.
Wholesaling is not investing...and it's not a sustainable business...not to mention it's extremely complicated and demanding...starting as a wholesaler is backwards and contributes to the generally bad reputation that wholesalers project on the REI industry...simply because they don't understand market values, rehab costs, etc. We invest in real estate because either, we want long term wealth, or freedom...income or time...or all of the above.
Wholesaling is a really demanding and inefficient way to make money in this industry. And why would you want to put in so much work to locate and put deals under contract, and then assign them for a meager fee when you could actually invest in the property yourself.
I think you are looking at this backwards...think about why you want to be involved in this industry...is it to create wealth and freedom...then wholesaling isn't it. At some point in almost every investors career they realize that the best generator of passive income is buy-and-hold property.
That said, you will get more bang for your buck if you focus on raising private money, building credit and credibility, acquiring properties with seller financing, or even becoming a licensed agent earning commission....
@Kendra Castellanos Wholesaling is simply finding a seller that is willing to sell a property at a significant discount, purchasing that property, and either selling to another investor for a reasonable markup that still leaves meat on the bone for them, or rehabbing it yourself and selling at retail.
A lot of "wholesalers" are out there with no education, and they get in trouble for practicing real estate without a license, among other things. So if you are interested make sure study up on all applicable laws so that you do not risk losing your real estate license, or violating any laws.
As an agent you most likely come across properties every day that are great potential wholesale candidates. You probably have a buyers list as well. If you get good at matching the two up you can make significantly more on a deal compared to standard commissions as an agent.
Hope that helps. If you have any other questions feel free to reach out :) have a great day.
The best for the money is @J Scott s book on flipping - pricing repairs.
There are 4 aspects to the REI Business
1. Finding sellers - all cash or terms, such as lease option, land contract, sub2, etc
2. Finding buyers - wholesale cash buyers, owner financing and lease option tenant buyers
3. Finding private lenders - for 1st and second private mortgages, self directed IRA lenders
4. Finding credit - cash partners - for down payments and credibility on larger deals.
Get a coach to help you.
@Manny Cirino is a great FLA REI.
@kendra castellanos the best education i every recieved did not come from one place. It took many sources to put the puzzle together for me. A countless amount of webinares, books, articles, podcast, youtube videos and local reia. Each 1 provides at least 1 good nugget of information. You have to put in the work no short cuts!
@Brandon Sturgill Thank you for the advice. I appreciate your insight.
@Brandon L. Definitely want to rehab myself even though this market is competitive and not much discount. Thanks for the information
Thank you for that. I will keep all of the aspects in mind.
@Manny Cirino Thank you for the advice. I'm attending CFRI classes and joining. Do you know of any other group?
@Kendra Castellanos You can GOReai.com (greater orlando) and FlipSavage (google it results show quick) this on is out of Brandon but he has a Meet up coming up in Lakeland on the 28th. I like flip savage because it is no a BS environment.
@Brandon Sturgill I don't know what world you live in but there are many people that CAN'T afford to invest in real estate right now, so wholesaling is a viable alternative to raise cash so they can invest. Wholesaling IS A VIABLE business model! You have to be ethical in your business practices. Yes there are some uneducated wholesalers just like there are some shister investors.
@Kendra Castellanos I am an investor/wholesaler in Orlando and I host a local BP meeting here in Orlando. Our next meeting is Nov 28 (after Thanksgiving) at 6:30 PM. It is a great place to learn about investing and networking. Here is the info on this months meeting. If you plan to attend then please register so we know how many people will be attending.
Thank you so much! I will look into both sites.
@Account Closed Thanks for the event information. How long do the meetings normally last? I have something at 6?
Usually about an hour to 1.5 hours.
I appreciate the invite and I will be there. Just aiming to learn and absorb information. Thanks!
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