Hello I am learning how to wholesale and am getting a little overwhelmed and trying to figure the steps I should take to get to my first deal. What should I learn and in what order?
Should I learn how to analyze first or learn marketing?
Hi Starr. Welcome to BP. I'd recommend learning the general process/steps involved in a basic wholesale deal. You can this by searching this site but I'd recommend listening to the BP podcasts. There are several that walk you through actual deals made by the featured interviewees. Then there are ones that focus on specific areas such as marketing which is the bread and butter. Just search for the wholesale specific podcasts and jump into those. Once you have a good grasp on the general steps involved, then break it down and learn about each step in detail at your own comfortable pace. For example:
- How to identify your market and target potential motivated sellers
- Launching a marketing campaign to your target
- How to speak to sellers once they call and what to look for
- The wholesale formula
- how to negotiate
- viewing the property and how to estimate repairs
- the escrow process
Some people learn by doing, others by reading. Just do one at a time. Wholesaling is definitely not something you'll learn overnight as simple as some make it out to be.
@Luis Lopez Than you for your input it really did help.
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