New to wholesaling

4 Replies

Hello, I am new to real estate  and was looking to start investing by wholesaling. I recently done a 3 day workshop but I still feel like I need help in getting started! So I'm hoping to meet and interact with people on bp to help gear me in the right direction to help do my first deal and many more to come!! 

One of the questions I did have is once you find a deal, the numbers look good and the seller has agreed on the price to which you offer, and once you find a buyer to assign the property to, what all do you have to have in closing a deal? I read something about escrow, what is that?and do you have to have an attorney to close the deal?

-Thanks!

How in the world can you convince someone to invest in you, if you have no experience, no knowledge of real estate? I presume you have been listening to some GURU. 

1. Join your local REIA

2. Read a lot of books.

3. Read many of the blogs and listen to podcasts from BP.

4. Ger a real estate license-if only for the education.

Maybe after a year, you might be ready to present a deal to someone-maybe. I think you should start by buying for yourself, and learning. Wholesaling is not for beginners, in my opinion. I hope you didn't spend a lit of money.

Hi @Sharnise Stokes  welcome to BP! I'm a newbie as well, but you've made a great choice by joining this community. There are so many resources here to learn from. I've been listening to all the podcasts and they are great. If you dive in there you will find all the answers to your questions and more. YouTube is also pretty good for finding videos on topics that you may need some clarification on. 

As far as your question regarding an attorney to close the deal, I believe that is dependent on your state. Some states may require you only use a title company. That would be something you'd have to research, or hopefully someone from your state will chime in here. I hope this helps a little. 

-Mary :) 

Thank you @Mary W. !!! I look forward to reading the posts and listening to the podcasts and youtube videos!!

-Sharnise

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