Beginner Wholesaler Seeking Guidance
I am a beginner in real estate investing and I want to start my investing journey by wholesaling real estate in Atlanta. I am generally knew to the area and I do not want to pay for a course and I was looking for any tips for networking and finding a mentor that could guide me a little bit better. Anything is appreciated!
if you dont want to pay....books, podcasts and working along side another wholesaler thats a lil further along than you is where you need to be
The biggest hurdle you'll have once you've found a deal is making sure you're executing the assignable legal contract correctly. This varies state by state and can be tricky at times.
If you're new to wholesaling and haven't been buying and selling real estate for years, you're going to want to partner up with an experienced wholesaler on your first few deals.
There are likely several big wholesalers in your market already and they're always willing to partner as long as there's money in it for them! Partner with them on your first few and make sure it's clear that you want the knowledge from the partnering deal!
Good luck
Quote from @Brad Jacobson:
The biggest hurdle you'll have once you've found a deal is making sure you're executing the assignable legal contract correctly. This varies state by state and can be tricky at times.
If you're new to wholesaling and haven't been buying and selling real estate for years, you're going to want to partner up with an experienced wholesaler on your first few deals.
There are likely several big wholesalers in your market already and they're always willing to partner as long as there's money in it for them! Partner with them on your first few and make sure it's clear that you want the knowledge from the partnering deal!
Good luck
I completely 2nd what Brad said. Despite what a lot of TikToks may say, wholesaling on your own with any kind of consistency requires at least a small financial investment, depending on how you want to approach this. My initial costs were around forming my LLC (a nice to have in something as litigious as real estate investing) and having a lawyer look over my various contracts. They continued on to paying for skiptraced data and using software/services to help coordinate and automate, before ultimately leading to higher costs (my highest cost is labor).
This all comes back to the post above from Brad Jacobson: You should look to partner up with an existing wholesaler or investor. Atlanta is a tough nut to crack because of how saturated it is, and going this solo without spending any money will require quite a bit of luck up front, which is never how you want to rely on starting your business.
Best of luck on your wholesaling journey!
Hey Alexander,
My biggest piece of advice when you are looking for a mentor is you have to bring immediate value to their situation. Bring a Deal, or bring a buyer for one of their deals they are trying to disposition. In order to bring a deal you do need to do your homework as to what a deal actually looks like.
Go on Ytube University and learn how to source deals (with no money) ie drive for dollars, connections you may have with realtors etc. then learning how to do a comparative analysis is crucial to determine exactly what a deal looks like how much you should offer to get under contract and what you can sell it for. That last part I suggest you reach out to the person you are interested in mentoring for to get their ideal buy box so you know if you find something within his/her parameters that would be considered an easy assignment. and you can ask to be a partner in the deal so you are also getting paid for them to walk you though their process, but ask them to do that up front.
Wish you luck! I may not know all the answers but you can feel free to reach out to me if you like.