Brand new to Wholesaling

8 Replies

Hi Everyone...I am brand new to the website and brand new to wholesaling. Sounds like a good way to make some cash if you can find the right deals. Given that I have never wholesaled a deal and am about to start trying to find my first one...what steps do I take? Possibly a short 1-5 step outline process or a 1-10 step outline process would be great for me to follow. Thank you to anyone who responds!

Thank you! Looks like great information I will be reading up on it asap.

@Jeremy Scott  

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Couple good reads 

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Thank you Paul also good looking information. Really appreciate it...

@Jeremy Scott  

Welcome to the site!

Disclaimer: I haven't wholesaled a house yet, but I've gotten some traction and been able to talk to a few sellers and will be looking at the first property this weekend.

Step 1: Use Bigger Pockets.  Listen to all the podcasts especially episode 21 w/ Jerry Puckett since he's out of Irving, read all the threads you can handle, and ask questions when they come up.  You've already started this one.

Step 2: Give driving for dollars a shot.  I would... instead of saving the addresses and mailing to them, google the names and addresses and see if you can find contact info, knock on doors and leave notes when no one answers.  Once you've tried that, save the address and send them some mail.  Research direct mail techniques. 

I've only gotten traction so far from talking to sellers directly without mailers.

 http://www.biggerpockets.com/renewsblog/2013/05/03...

That's as far as I've gotten so I can't really advise you past that.  Good luck!

@Jeremy Scott & @Tim Bishop Hello gentleman, I am also a newbie here in Irving, TX interested in co-wholesaling with someone who has previously closed a few deals. Would any of you guys be interested?