Updated almost 4 years ago on . Most recent reply
Learning how to wholesale properly
Hello BiggerPockets,
I am currently looking into way to create capital for myself and begin investing into real estate. One of the things I keep seeing is wholesaling. With that being said I see all these so called "Gurus" and it is difficult to see through the BS and the truth. Can someone give me some advice on wholesaling or maybe even mentor. (I know that's not a free service) I would like to learn the trade I think it is one way that I can kick off my real estate career.
Most Popular Reply
Hi Chandler -- The ability to source deals is incredibly important for anybody getting started in real estate. Whether you find them off market or on, and whether you do the rehab work yourself or sell the opportunity to somebody else determines whether you are an "agent" or a "rehabber" or a "wholesaler".
I've found that wholesale can be an effective way to build up capital while looking for your own projects to rehab or renovate. You might dig something up that costs a million dollars up front (which you don't have) -- But it may still be a fantastic deal! And -- The seller may still really need to offload that property and not want to do so on the traditional market.
I am dealing with a case where the property was subject to methamphetamine contamination through no fault of the owner's. They are unable to sell on the MLS, but have no experience in contracting work. This is a perfect case where we can connect them with the right people and hopefully put a smile on everybody's face.
Work on sourcing deals! If you are able to do that, deciding what to do with them is the fun part.