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Wholesaling

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Ryan Passaro
  • New to Real Estate
  • Austin, TX
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Looking for wholesaling advice!

Ryan Passaro
  • New to Real Estate
  • Austin, TX
Posted Apr 23 2023, 23:06

Hi! I am a freshman at UT Austin and want to get into the wholesaling business in Austin but am not positive where to start - it just seems like a big leap from here. If anyone is an active wholesaler in the Austin area I would love to meet up for lunch or something in the next 2 weeks and pick your brain for a little bit! (Lunch on me). Or if anyone has any advice on this post I would greatly appreciate it. Thank you so much in advance!

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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
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Eliott Elias#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied Apr 24 2023, 03:21

Wholesaling is a great way to get into real estate. Happy to connect if you have questions.

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Joseph Guzzardi Jr
  • Rental Property Investor
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Joseph Guzzardi Jr
  • Rental Property Investor
Replied Apr 24 2023, 03:42

Start building your buyers list first. Need to find out who the legit buyers are in the market area & what your buyer's criteria is. Think of it like any other business. Would you open up a store, buy a particular product and NOT know who is ultimately going to buy the product? Of course not! Find the buyers and their respective criteria, then go shopping for what deals fit the buy box. 

Lastly, make sure there is a volume of the product these people are looking for. +200 transactions/yr roughly

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Tyrell Proby
  • Investor
  • Scottsdale, AZ
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Tyrell Proby
  • Investor
  • Scottsdale, AZ
Replied Apr 24 2023, 07:31

I would advise you to attend Real Estate meet ups here in Austin. Start introducing yourself to everyone and building your network. Be yourself and ask questions. You may even find a mentor. If you want to know where to go to find RE Meet ups send me a message. 

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Paul De Luca
  • Real Estate Agent
  • Chicago, IL
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Paul De Luca
  • Real Estate Agent
  • Chicago, IL
Replied Apr 24 2023, 07:45
Quote from @Ryan Passaro:

Hi! I am a freshman at UT Austin and want to get into the wholesaling business in Austin but am not positive where to start - it just seems like a big leap from here. If anyone is an active wholesaler in the Austin area I would love to meet up for lunch or something in the next 2 weeks and pick your brain for a little bit! (Lunch on me). Or if anyone has any advice on this post I would greatly appreciate it. Thank you so much in advance!


 I recommend attending real estate meet ups and try to work for a wholesaler to learn the business. Help them in any way you can, whether it's administration, knocking on doors, cold calling, etc.

  • Real Estate Agent Illinois (#475.190985)

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Ian Walsh
  • Lender
  • Philadelphia, PA
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Ian Walsh
  • Lender
  • Philadelphia, PA
Replied Apr 24 2023, 07:56

Learn your market and learn to market.  The 50 house rule also can be very useful when getting started.

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Ran Iarovich
  • Real Estate Agent
  • Washington
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Ran Iarovich
  • Real Estate Agent
  • Washington
Replied Apr 24 2023, 07:59

read as much as you can. attend real estate meetups which can be found on meetup.com or eventbrite.com or even a local county newsletter. 

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Ryan Passaro
  • New to Real Estate
  • Austin, TX
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Ryan Passaro
  • New to Real Estate
  • Austin, TX
Replied Apr 24 2023, 23:06
Quote from @Joseph Guzzardi Jr:

Start building your buyers list first. Need to find out who the legit buyers are in the market area & what your buyer's criteria is. Think of it like any other business. Would you open up a store, buy a particular product and NOT know who is ultimately going to buy the product? Of course not! Find the buyers and their respective criteria, then go shopping for what deals fit the buy box. 

Lastly, make sure there is a volume of the product these people are looking for. +200 transactions/yr roughly


 Thank you for the advice! How do you recommend finding legit buyers in an area and what they are looking for?

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Ryan Passaro
  • New to Real Estate
  • Austin, TX
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Ryan Passaro
  • New to Real Estate
  • Austin, TX
Replied Apr 24 2023, 23:31
Quote from @Ian Walsh:

Learn your market and learn to market.  The 50 house rule also can be very useful when getting started.


Thank you! What is the 50 house rule?

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Joseph Guzzardi Jr
  • Rental Property Investor
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Joseph Guzzardi Jr
  • Rental Property Investor
Replied Apr 25 2023, 02:31

@Ryan Passaro go to meet ups and ask them.

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Yael Lederman
  • Miami, FL
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Yael Lederman
  • Miami, FL
Replied Apr 25 2023, 09:46
Quote from @Ryan Passaro:
Quote from @Joseph Guzzardi Jr:

Start building your buyers list first. Need to find out who the legit buyers are in the market area & what your buyer's criteria is. Think of it like any other business. Would you open up a store, buy a particular product and NOT know who is ultimately going to buy the product? Of course not! Find the buyers and their respective criteria, then go shopping for what deals fit the buy box. 

Lastly, make sure there is a volume of the product these people are looking for. +200 transactions/yr roughly


 Thank you for the advice! How do you recommend finding legit buyers in an area and what they are looking for?


I'd recommend using tools like PropStream and PropertyRadar to figure out who is actively buying in your area. You can use skip tracing tools to find their contact information and then reach out to them.

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Ian Walsh
  • Lender
  • Philadelphia, PA
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Ian Walsh
  • Lender
  • Philadelphia, PA
Replied Apr 25 2023, 15:24
I think it is likely posted somewhere here on BP.  If you search 50 house rule, it should come up.

Quote from @Ryan Passaro:
Quote from @Ian Walsh:

Learn your market and learn to market.  The 50 house rule also can be very useful when getting started.


Thank you! What is the 50 house rule?


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Replied Apr 26 2023, 10:15
Quote from @Yael Lederman:
Quote from @Ryan Passaro:
Quote from @Joseph Guzzardi Jr:

Start building your buyers list first. Need to find out who the legit buyers are in the market area & what your buyer's criteria is. Think of it like any other business. Would you open up a store, buy a particular product and NOT know who is ultimately going to buy the product? Of course not! Find the buyers and their respective criteria, then go shopping for what deals fit the buy box. 

Lastly, make sure there is a volume of the product these people are looking for. +200 transactions/yr roughly


 Thank you for the advice! How do you recommend finding legit buyers in an area and what they are looking for?


I'd recommend using tools like PropStream and PropertyRadar to figure out who is actively buying in your area. You can use skip tracing tools to find their contact information and then reach out to them.


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Replied Apr 26 2023, 10:17

CASH BUYERS and DISTRESSED SELLERS all in one place.....FREE! I get em daily by the thousands ....FREE for 39 years.

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Delwyn Andrews, Jr.
  • Investor
  • Orlando, FL
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Delwyn Andrews, Jr.
  • Investor
  • Orlando, FL
Replied May 1 2023, 08:59

One of the biggest aspects when wholesaling, or any aspect of real estate, is having a team in place beforehand. Making sure you align yourself with the right people before you start will help when issues arise down the line.

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Replied May 2 2023, 17:12

The best advice I can give wholesaling is not complex. Take a month. Learn all that you can about wholesaling and the market you are in. Start by learning how to market to seller but if that's too hard at first try building relationships with buyers in groups and at networking events. Be a bird dog because that will teach you how to market for deals. Do that for a few months and see if you can find them a deal. But I would focus on deals first because you can find buyers with a good deal; I don't subscribe to the whole focus on buyers list first. Not bashing anyone that does; deals are harder to find, and buyers are anywhere and everywhere. 

Go to 

https://www.flipwithrick.com/m... and register for his free course. It will teach you everything to get you started. 

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Lydia R.#4 Wholesaling Contributor
  • Wholesaler
  • Austin TX
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Lydia R.#4 Wholesaling Contributor
  • Wholesaler
  • Austin TX
Replied May 5 2023, 06:13
Quote from @Ryan Passaro:

Hi! I am a freshman at UT Austin and want to get into the wholesaling business in Austin but am not positive where to start - it just seems like a big leap from here. If anyone is an active wholesaler in the Austin area I would love to meet up for lunch or something in the next 2 weeks and pick your brain for a little bit! (Lunch on me). Or if anyone has any advice on this post I would greatly appreciate it. Thank you so much in advance!


 Hi Ryan! I am a wholesaler/investor here in the Austin area! And I never say no to a free lunch :)

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Ryan Passaro
  • New to Real Estate
  • Austin, TX
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Ryan Passaro
  • New to Real Estate
  • Austin, TX
Replied May 6 2023, 19:34
Quote from @Marc Maitre:

The best advice I can give wholesaling is not complex. Take a month. Learn all that you can about wholesaling and the market you are in. Start by learning how to market to seller but if that's too hard at first try building relationships with buyers in groups and at networking events. Be a bird dog because that will teach you how to market for deals. Do that for a few months and see if you can find them a deal. But I would focus on deals first because you can find buyers with a good deal; I don't subscribe to the whole focus on buyers list first. Not bashing anyone that does; deals are harder to find, and buyers are anywhere and everywhere. 

Go to 

https://www.flipwithrick.com/m... and register for his free course. It will teach you everything to get you started. 


 Awesome! Thanks so much!

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Ryan Passaro
  • New to Real Estate
  • Austin, TX
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Ryan Passaro
  • New to Real Estate
  • Austin, TX
Replied May 6 2023, 19:36
Quote from @Lydia R.:
Quote from @Ryan Passaro:

Hi! I am a freshman at UT Austin and want to get into the wholesaling business in Austin but am not positive where to start - it just seems like a big leap from here. If anyone is an active wholesaler in the Austin area I would love to meet up for lunch or something in the next 2 weeks and pick your brain for a little bit! (Lunch on me). Or if anyone has any advice on this post I would greatly appreciate it. Thank you so much in advance!


 Hi Ryan! I am a wholesaler/investor here in the Austin area! And I never say no to a free lunch :)


 Haha glad to hear it! I am back in New York now though until August, I just missed that :( but I would love to take a rain check on that if that's okay. Thank you!!