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Wholesaling
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User Stats

7
Posts
3
Votes
Ryan Passaro
  • New to Real Estate
  • Austin, TX
3
Votes |
7
Posts

Looking for wholesaling advice!

Ryan Passaro
  • New to Real Estate
  • Austin, TX
Posted

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!

User Stats

9,861
Posts
5,541
Votes
Eliott Elias#4 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
5,541
Votes |
9,861
Posts
Eliott Elias#4 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Investor
  • Austin, TX
Replied

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

User Stats

352
Posts
133
Votes
Joseph Guzzardi Jr
  • Rental Property Investor
133
Votes |
352
Posts
Joseph Guzzardi Jr
  • Rental Property Investor
Replied

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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User Stats

47
Posts
27
Votes
Tyrell Proby
  • Investor
  • Scottsdale, AZ
27
Votes |
47
Posts
Tyrell Proby
  • Investor
  • Scottsdale, AZ
Replied

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. 

User Stats

1,697
Posts
1,363
Votes
Paul De Luca
Agent
  • Real Estate Agent
  • Chicago, IL
1,363
Votes |
1,697
Posts
Paul De Luca
Agent
  • Real Estate Agent
  • Chicago, IL
Replied
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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User Stats

2,666
Posts
1,745
Votes
Ian Walsh
Lender
  • Lender
  • Philadelphia, PA
1,745
Votes |
2,666
Posts
Ian Walsh
Lender
  • Lender
  • Philadelphia, PA
Replied

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

User Stats

254
Posts
172
Votes
Ran Iarovich
  • Real Estate Agent
  • Washington
172
Votes |
254
Posts
Ran Iarovich
  • Real Estate Agent
  • Washington
Replied

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. 

User Stats

7
Posts
3
Votes
Ryan Passaro
  • New to Real Estate
  • Austin, TX
3
Votes |
7
Posts
Ryan Passaro
  • New to Real Estate
  • Austin, TX
Replied
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?

User Stats

7
Posts
3
Votes
Ryan Passaro
  • New to Real Estate
  • Austin, TX
3
Votes |
7
Posts
Ryan Passaro
  • New to Real Estate
  • Austin, TX
Replied
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?

User Stats

352
Posts
133
Votes
Joseph Guzzardi Jr
  • Rental Property Investor
133
Votes |
352
Posts
Joseph Guzzardi Jr
  • Rental Property Investor
Replied

@Ryan Passaro go to meet ups and ask them.

User Stats

83
Posts
67
Votes
Yael Lederman
  • Miami, FL
67
Votes |
83
Posts
Yael Lederman
  • Miami, FL
Replied
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.

User Stats

2,666
Posts
1,745
Votes
Ian Walsh
Lender
  • Lender
  • Philadelphia, PA
1,745
Votes |
2,666
Posts
Ian Walsh
Lender
  • Lender
  • Philadelphia, PA
Replied
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?


User Stats

5
Posts
1
Votes
Replied
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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User Stats

5
Posts
1
Votes
Replied

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User Stats

53
Posts
17
Votes
Delwyn A.
  • Investor
  • Orlando, FL
17
Votes |
53
Posts
Delwyn A.
  • Investor
  • Orlando, FL
Replied

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.

User Stats

69
Posts
61
Votes
Replied

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. 

User Stats

1,815
Posts
2,124
Votes
Lydia R.#4 Wholesaling Contributor
  • Wholesaler
  • Austin TX
2,124
Votes |
1,815
Posts
Lydia R.#4 Wholesaling Contributor
  • Wholesaler
  • Austin TX
Replied
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 :)

User Stats

7
Posts
3
Votes
Ryan Passaro
  • New to Real Estate
  • Austin, TX
3
Votes |
7
Posts
Ryan Passaro
  • New to Real Estate
  • Austin, TX
Replied
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!

User Stats

7
Posts
3
Votes
Ryan Passaro
  • New to Real Estate
  • Austin, TX
3
Votes |
7
Posts
Ryan Passaro
  • New to Real Estate
  • Austin, TX
Replied
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!!