Newbie wholesaler

15 Replies

Hi I am really new to the real estate business and honestly its been a rollercoaster of emotions for me as I am very particular in doing things the right way. I have read several books and listen to several podcast and went to seminars with all the gurus but can't seem to bring myself to making that first step as I do not want to make a crucial mistake. I have copies and links to the documents needed to get going but I am a hands on type of individual and if I'm not comfortable enough to do it on my own for the first time then it will usually take me forever to make that move. I am requesting that if there are any wholesalers in the Atlanta area  to help me get my feet in the door. So basically I need a mentor to hold my hand for at least one deal so that I can feel comfortable doing it on my own. I am willing to split the amount of money made during the deal just so that I can know what I am doing.

Frankie, first and foremost, welcome yo BP the ultimate investor resource. You're in the right place to meet some great people on here. I would guess that your posting will get very few replies if only because it's all about what you want. Almost every newbie is coming on here is looking for "a mentor" or even someone who will take responsibility for them and/or their actions. It's not going to happen that way. Whatever you get in this business you will have to earn it, especially respect.

There's no simple way to say this, but you need to change your approach. Emotion is a liability, so lose that for a start. Perhaps you might like to tell people who you are, what you're offering, what you're bringing to the table and then see if you get any interest. 

Best of luck with your endeavors.

Frankie, first and foremost, welcome to BP the ultimate investor resource. You're in the right place to meet some great people on here. I would guess that your posting will get very few replies if only because it's all about what you want. Almost every newbie is coming on here is looking for "a mentor" or even someone who will take responsibility for them and/or their actions. It's not going to happen that way. Whatever you get in this business you will have to earn it, especially respect.

There's no simple way to say this, but you need to change your approach. Emotion is a liability, so lose that for a start. Perhaps you might like to tell people who you are, what you're offering, what you're bringing to the table and then see if you get any interest. 

Best of luck with your endeavors.

Hello Frankie -

welcome to Bigger Pockets! You will find a lot of good information and support here.

I know several wholesalers in the Atlanta area and I also partner on deals as well. 

Welcome Frankie,

I know exactly what you are feeling. Our stories are a lot alike. I just joined BP a few days ago and for the first time in a couple of years of learning about investing, I feel as though I have made a good decision in joining this site.

I'm trying to get started as well. Fear has been biggest obstacle but not anymore. I have not yet to close my first deal but I'm bound and determined to do so before the new year. I always have a list of houses that are possibilities. Finding properties has never been my problem, it's finding the investor. I would love to stay in touch with you. Maybe we can help each other even though we do not live in the same area. 

@Frankie Lubin  

Welcome. Educate first find a deal work with a wholesaler on it. 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 

Welcome @Frankie Lubin  

  Hope your endeavors go well.  The fear will ease the more deals you get done.  

Welcome to @Frankie Lubin   and to @Dee Dee Huey !

The first deal is always the hardest.  I wasted time, energy and money on ads, coaching and meeting sellers for 2+ years before I finally felt comfortable taking the plunge.  Now, 22+ years later I wonder what all the fuss was about.  Though I still remember all those butterflies in my stomach and invalid thoughts that would pop up and inevitably talk me out of moving forward. 

One day I just took a good hard look at it all and said, "NO MORE! What's THE worst thing that can happen?"  I determined that I could live with that worst thing, which in my head was pretty dramatic, and involved losing all my money, possibly being very far in debt and a whole lot of other drama I conjured up. 

I decided that day that the downside of NOT taking action was worse than the downside of taking action and I set a goal to buy a house, even if it was not perfect, within 30 days. 

I met that goal and 400+ houses later, I'm so glad I overcame that feeling and took action. 

A lot of things we do in life come with fear, but we do them anyway.  Acknowledge the fear you're having and use it to motivate you to take action and risks.  You can do it!

P.S. I do know investors in Atlanta, GA and Alabama and would be happy to help you find a 50/50 mentor if need be.  If they don't want to help you for some reason, I will.  

@Frankie Lubin    Great to have you on BP. Great place to start your career. Great place to learn and network with others. Good Luck!

 @Cortney Jones  @David T.  Great advice! I too am new and am just about ready to get the ball rolling.  My nerves are getting the best to me as well, but yes.... what is the worst that can happen? :)

I've been on BP for a little over a month now and although that doesn't sound like much time, I have learned a tremendous about of things. 

*tremendous amount of things... all things real estate.

Didn't finish my response.  :)

You will never feel comfortable, that's the fun part!  Most mentor's would want you to take some action on your own before volunteering to hold your hand through a deal, what's in it for them?

Your level of success is directly connected with how uncomfortable you are willing to be!

@Frankie Lubin, the only people after your money are mostly the scammers and gooroos and if in doubt, ask by posting your specific concern, you'll get plenty of support. You don't even have to turn a rock to find those guys, they're everywhere, like bugs in Georgia! 

If you want find a mentor then you have to offer something. Time is good, but you need to translate that into something tangible and practical. So off you go with yourself and find a nice worthwhile deal with plenty of meat on it, post it here and offer an exchange such as mentoring through the deal and a piece of the action at the end might be attractive to someone here. 

Profit and hands on experience after a first deal puts you way ahead of a lot of people coming into the business. If you still don't know where to start, work your way through the podcasts and some of the outstanding blogs on here, mine included. You can start with this one....

http://www.biggerpockets.com/blogs/4226/blog_posts...

Now Frankie, go get that big juicy meaty choice deal and then I'll tell you who I'd nominate as the number one mentor in Atlanta.

Best of luck to you!

Thank you @David T.  

 and everyone else for your help

Welcome to BP @Frankie Lubin   !  As you can see, the community here is both well-versed and helpful. It seems like you have the education part of R.E. down, which I believe is the most important.  The resources on this site are second to none.  I would also add that participating in the forums/blogs (i.e., both asking AND answering questions) is one of the keys to transforming information into actionable knowledge!  There are several ways to take action, none of which will be comfortable, but you have to take the course that makes the most sense to YOU.  Good luck!

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here