is there a wholesaling for dummies book?

19 Replies

Like many have suggested starting out my investment journey with wholesaling to build capitol for a down payment. 

I spoke with an agent who said to put a house under contract you need the full amount of cash or someone who has the full amount of cash. 

This is when I realized I don't even know where to start. 

Any very noob books out there? Is Robert kiyosaki workshops good or is it guru workshop?

MIke,

as you can see I am against the guru. Wholesaling is easy concepts, hard work (sometimes) and most agents dont understand at all. I would be glad to walk you thru the basics. 

@jeremytillotson that would be great!

All beginner books seem to skip the basics and the teaching the process itself. They just jump straight to talking about how much money they've made . 

Great question. I would love to see a wholesaling for dummies book. I've found a number of really great resources - including, and especially, the BP podcasts on wholesaling. That said, one single definitive source on how to get started wholesaling would be a great read. If anyone knows what book that may be - I hope you are going to respond to this thread.

@Mike Verrona  I will be around tomorrow after my closing from like 12-2 or you can call me after the first of the year. Should be able t walk you through the basics pretty quick and when you get a deal I will help you with it. Just remember me when you get that deal in Fort Wayne, lol

@Alex M.  I'm def gonna go check out those podcasts! Thanks for the heads up

@Jeremy Tillotson  - awesome - much appreciated! What may I do for you in return for lending me the time!?!

@Mike Verrona  I am about giving back and helping others. So I will give a little of my time to show you the basics if you are then serious and follow thru, I will lead you through a deal, no strings attached, but if you get a Fort Wayne deal please be the first to tell me. Seriously read my profile, I just want to help out others, no guru, marketing or other crap. Just be serious, work hard and make some deals, so I dont feel as if it was wasted time. 

Mike,  

I never liked the name of those books since a dummy wouldn't seek an answer to their question in the first place.  Anyway, maybe you already did this but I would suggest that you first read through the free How-to Guides on BP.  There is one specifically for wholesaling.  BP How-to Start Wholesaling

Plus, there are numerous blog posts on the subject as well.  You should be able to find a lot of info to get started before paying for any workshop.  Good luck!

Medium craig and molly real estate color logo 2016Craig Wilcox, Craig & Molly | [email protected] | 815‑242‑1132 | http://craigwilcox.kwrealty.com | IL Agent # 475.164058

Try the Real Estate Wholesaling Bible by Than Merrill.

I just started it, has some pretty good tips on marketing, where to find deals, etc.

ill take a look at that! 

Would you consider yourself to be a newbie? @morrislucas

@Morris Lucas  I have a hard time reading anything from a guy who will promote competing products at the same time and says each one he says he uses in his office. IE freedomsoft and realeflow. Just give Than money and you can make money in your sleep. (Oh I meant he can take your money in his sleep) If you want some real advice ask one of us been there done that people on BP and you don't even have to pay us.

biggerpockets.com/show91

Hey to each his own...I don't know much about the guy's products, I happened to come across the book in Barnes & Noble and skimmed through it and bought it. 

I've used some of the marketing tips in it to get leads, some of the chapters i found informative, some a little fluff. These days everyone you find in a bookstore is out to get a buck every way they can, so you can't screen everybody, Kiyosaki has 100 ways to get your cash, but his book changed my life. Hey, was worth the 20 bucks to me, lol.

Here is my two step guide to wholesaling 

1.  get a contract for cheap

2.  sell the contract for more than you bought it for

Originally posted by @Nicholas Miller :

Here is my two step guide to wholesaling 

1.  get a contract for cheap

2.  sell the contract for more than you bought it for

Haha! I like.

Maybe I am too newb for this subject and need to do more reading. By Dummy version I mean something that even takes you into the steps of how to compose &  sign the contract.

I came across a perfect opportunity, and could not close, because of the lack of knowledge. The home owner wanted to get his attorney involved ( which I assume is very normal when you are signing off your home)

Are you willing to spend the next 12 months working to complete your first deal?  If not, wholesaling probably isn't for you.  Wholesaling is more difficult than flipping or landlording, and requires all those skills, plus more.

Now, if you're willing to devote a year to study and doing a deal, then I recommend you spend the next few months learning how to do a rehab/flip.  If you have all the knowledge to do a flip, you just turn your potential flip into a wholesale by selling it before you rehab it. 

If you're trying to learn wholesaling without understand all the details of rehabbing/flipping, you're unlikely to be successful long-term -- a good wholesaler generally has all the qualities of a good flipper...plus more.

Dawn Anastasi, Core Properties, LLC | http://www.coreprop.biz | Podcast Guest on Show #29

@Dawn Anastasi   thanks - the podcast really did help. I really liked the first one i listened to buy Brandon Turner.

I am trying to start doing wholesaling but not sure how to start. Can someone help me. I am a new Realtor so I do have access to MLS. I am nervous.