I want to start wholesaling real estate

[Spencer Gregory]

I was wanting to get into wholesaling and had a few questions

Should I start an LLC or try and get a deal without first?

Should I start with instate or just try out of state?

Should I try and find a mentor before even trying on my own?

[Jeff Schemmel]

LLCs are stupid cheap and very easy to start - anyone can do it for any reason and you shouldn't let this be a barrier.  If you think you'll get sued and you have a lot of personal assets to protect it might make sense to talk to a CPA or attorney about the best way to go about this and what you need to keep in mind when you have one; co-mingling personal/llc funds is a no-no, for example.  if you don't have anything to lose maybe just see if you can get a deal done and go from there.

Why not start local?  I couldn't imagine trying to do a deal where I haven't ever step foot as a brand new investor/wholesaler.  A lot of people invest out of state, but wholesaling is just totally different and often wholesalers rely on local contacts like realtors, lenders, and contractors to offload an assignment quickly.  MUCH easier for you to build that network locally.

A mentor is always a good idea.  you have a MUCH higher chance of success following someone's guidance in any business, hobby, or line of work.  It's also more fun and energizing to work with someone who demonstrates a passion for what they do.  Just make sure you're doing it for the right reasons and you really believe in it as a path forward for yourself and/or your family.