Can a 19 year old get into Wholesaling Real Estate with 20k?

Question

Hi I would like to know if $20k would be enough to get into wholesaling real estate (virtual out of state wholesaling) and with that budget is it possible to close on my first wholesale deal within 30-90 days? Thanks guys.

Lydia R. · Answer

Hi Ethan! 20K is more than enough to get started! I cannot guarantee when or how soon you will close a deal. That all depends on how much time and effort you are willing to dedicate on a daily basis. If you are willing to be fully committed you will see results sooner rather than later. I can recommend a GREAT book that outlines all the steps to follow to get you to your first deal. Its literally the blueprint to making your first $15,000 wholesale fee. I would be more than happy to share it with you. Send me a PM. More than happy to help you! Ive been wholesaling for almost 8 years and flipping for almost 4. If you have any questions, Im happy to answer them for you! We need more young people investing in real estate. My mom made me get my real estate license when I was 18 but I went into corporate America after college and didnt pursue real estate until much later. If I had stayed with it I would be retired and living on a private island right now. So if i can help get you there sooner I will!

Eliott Elias · Answer

You can get into wholesaling with $0. Your only goal is to find a deal. How ever much money you spend to do that is up to you.

Account Closed · Answer

Don't spend $10,000 or anything close to that on a Guru to learn wholesaling.
Youtube is filled with gurus teaching wholesaling, who charge a lot of money, have a lot of followers, who pay a lot of money and do a whole lot of nothing.

According to one of the gurus, some of the followers do one deal over the course of two years and then they quit. Most never do a deal. They never put the work in and actually make calls. The few that do, are on the phone making phone calls at least 20 hours a week for an average of 9 weeks before they get an actual transaction. The very few that succeed are on the phone constantly, have good people skills, can take a lot of verbal abuse, get to the point and are organized and good at follow up.

It's a bit harder right now, for a couple of reasons, people with low interest rate loans don't want to give up that low interst rate and wholesaling has become the gold rush of today where the people selling supplies to the gold rushers made a lot more money than the gold rushers themselves.

Can you make money wholesaling, yes of course, if you do the work and grind it out.

Lorie Durkin · Answer

I am much older than Ethan, but I still want to get into Wholesaling. What is the book you recommended?

Thanks, Lorie Durkin

David Ramirez · Answer

Hey @Ethan Davis,

Yes, you can do it with 20k. The timeframe would depend on your sales and communication skills. Wholesaling is just like any other business you have to create systems and procedures to be able to be able to close deals consistently.

Feel free to reach out with any questions!

Good Luck!

Chris Merchant · Answer

Welcome to BP, this may be something you should checkout:

https://www.biggerpockets.com/...

Can a 19 year old get into Wholesaling Real Estate with 20k?

Can a 19 year old get into Wholesaling Real Estate with 20k?

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