Brooklyn, NY · Member since 2016 · 12 posts · 3 votes
Hey I am just starting out I have experience flipping and renting apartments however I want to make some money without spending my own any advice for me starting up as a beginner I am from Brooklyn New York
Hey I am just starting out I have experience flipping and renting apartments however I want to make some money without spending my own any advice for me starting up as a beginner I am from Brooklyn New York
Carson’s point on Brooklyn is important. Wholesaling mechanics can get messy in NY, so I’d make sure you understand the title/attorney side before assuming it works like other states.
Since you already have flipping/rental experience, I’d probably start by talking to active buyers first. Find out exactly what they’ll buy, where they’ll buy, what spread they need, and what title/closing structure they’re comfortable with. Then go look for properties that fit that box instead of guessing.
Brooklyn is one of the harder markets to start wholesaling in. Assignment of NY contracts is doable but a lot of attorneys and title companies won't touch them, so double closes are common and that eats margin. Most beginners working NYC end up driving deals out to the LI or upstate exurbs where the mechanics are simpler.
Hey, the background in flipping and rentals is a solid foundation here. You already understand how to analyze deals and work with properties, which puts you ahead of most people just starting out.
First thing I'd think about is whether you have more time or more money right now, because that determines your approach.
If it's mostly time, here are some direct to seller marketing channels to consider. One is driving for dollars. You drive around looking for properties that appear distressed or neglected, then reach out to those owners directly. You can door knock or skip trace their info and call them. Propwire is free and a great starting point for this. That route costs effort and consistency more than money.
If you have some budget to work with, you can move faster. Pull a list through PropStream or Propwire, skip trace it, then market through cold calling or texting. We've used BatchDialer for calls and Launch Control for texts, both solid options. Just make sure your texting stays compliant, New York has its own rules around that.
Brooklyn is a competitive market but there's deal flow there. A lot of wholesalers overlook the outer boroughs and parts of New Jersey right across the water.
You already have an advantage if you’ve done flips and rentals because you understand properties. Wholesaling is really finding deals and connecting people.
My advice: don’t spend months learning. Start talking to sellers and buyers now. Build a small cash buyers list, learn how to comp deals correctly, and make offers. Conversations create contracts.
Also being in Brooklyn puts you around a lot of investors, so go to meetups and network. Your first deal will teach you more than 100 hours of YouTube.
Hey I am just starting out I have experience flipping and renting apartments however I want to make some money without spending my own any advice for me starting up as a beginner I am from Brooklyn New York
Carson’s point on Brooklyn is important. Wholesaling mechanics can get messy in NY, so I’d make sure you understand the title/attorney side before assuming it works like other states.
Since you already have flipping/rental experience, I’d probably start by talking to active buyers first. Find out exactly what they’ll buy, where they’ll buy, what spread they need, and what title/closing structure they’re comfortable with. Then go look for properties that fit that box instead of guessing.