Is this a difficult time to start in wholesaling????

Question

Considering the current economy is this a difficult time to get started in wholesaling?  I've heard from a few people on this site we may be in for a challenge.  If so, where do you recommend we start this adventure?  Our goal is to eventually do this (investing in real estate) full time , have some rental properties that generate enough income to cover our expenses.

Lou Castillo · Answer

This economy that everyone in the media loves to talk about so much is actually a windfall for investors. what we're really seeing now is an abundance of super motivated sellers.

Having said that, if you truly want to be successful you have to find really profitable deals. There are still plenty of investor buyers, but they are more cautious. They want to ensure it's a good deal.

Like was said earlier, this is a marketing business. develop a good marketing campaign and stick to it. Get the leads coming in - that's how you'll find good deals. And don't be discouraged. You'll still talk to 20 to find 1 good deal. But then it will sell because of the profit.

You're right to get training in this business before you get started. You have to know what you're doing.

Jason Cummins · Answer

I personally do not think there is a terrible time to start in wholesaling.  Maybe there is, I do not know, but if you are doing things the right way I would say there is not a bad time to start.

The key is to be consistent, and always be marketing, wholesaling business is really a markerting business, as is most RE businesses really.

Just get out there and do it!  You have what it takes!

Chris Pelletier · Answer

Our plan is to 1st take a class on wholesaling.  We are currently working on a website and have advertised on Craig's list.  We are also taking lots of rides and trying to determine which neighborhood we want to start in.  So far one person has replied to our ad on Craig's list which excited us mainly because we just put it on 2 days ago.  We are also planning on making up some business cards and attending some real estate investors seminars.  Finally we will get some of those signs "We buy houses for CASH".  If you have any other suggestions we'd love to hear.  Also if we have any bad ideas or you think we are wasting our time let us know.

Account Closed · Answer

I think if your prepared for wholesaling I think it's a great time!  What's your plan?