Getting started in wholesaling

8 Replies

Hey BP I'm ready to take my plunge into doing wholesaling. I have a pretty good background in real estate investing learning from my dad. I have a property under contract now but having a tough time finding buyers. Can anyone provide me with a few ideas on how to track some down? Thanks in advance!

Craigslist, RE networking events, bandit signs...just to name a few

@Shakeesha Johnson  Welcome to BP. (Provisional) congratulations on getting a Contract under your belt. I hope your experience and your dad helped get you a "good" deal. If not, then I hope that your Contract is not too punishing if you end up not being able to close the deal, and you renegue. That would not be a good start. 

Any chance you could post the details of the math you used to think it WOULD be easy to find a Buyer? 

I will close out my post with a mantra that I would like all new Wholesalers to consider:- "FIND YOUR BUYER, or, FUND YOUR BUY"! Cheers...

Updated almost 4 years ago

"Must-find-buyer-or-funds-must-find-buyer-or-funds-must-find-buyer-or-funds-for-smokin'-deal-yes-smokin'-deal-else-why-would-I-sign-else-why-did-I-sign?-I-MUST-find-buyer-or-fund-deal"... (repeat ad nauseum)...

Try posting some of the numbers up here so people can let you know if its a good deal or not. The property might not be moving because its not actually a deal. Otherwise, I agree with @Everett Marshall  and @Tim Ball  but there are other routes as well. You also have Postlets, and BP.

If it is vacant.... Put a forsale sign in the front yard. Look at tax record at who has been buying similar properties in the area. Call local for rent signs and see if they are looking to "add to their portfolio", make sure your CL ad is worded in the language an investor speaks, and use

What kind of action have you had? Any calls? Any offers? What are peoples complaints generally? How much longer do you have on your contract?

@Shakeesha Johnson  

Congrats on the first deal. I agree with @Brent Coombs  that you should have a buyer ready, have under contract what a buyer is wanting or buy it yourself then you can do anything you want with it.

One more thing, if at al possible, Become a PRO here on bigger pockets and use the Analyze tab to see if the deal is a good one AND use it to print out the deal to convince buyers or lenders to help you. 

Hi BP, I'm new here. I came across this site by trying to do research on Real Estate Wholesaling. This is my first post. I just missed a "free event" said to be presented by a local real estate investor with a show on TV famous for flipping homes. I was sent a webinar invitation as a result in which it sort of taught real estate wholesaling. It sounds simple but I'm sure it isn't, basically it described the steps to take but not actual examples of forms to fill, where to get them, who to talk to, etc. I'd like to ask for some help or guidance. I'm unemployed with no money and bad credit. I went to school back in 2009 and became a certified computer repair technician in hopes of using it as a stepping stone to go back to school and formally get the education I didn't get because I didn't see the value of school then. Now, not being able to get anything more than temp jobs because of my lack of experience its harder than ever to get anything done. Some places I've applied for a job as a simple cashier turn me down because they say I'm over qualified while others say I don't possess the qualifications and/or experience. I've been looking to do something that pays the bills, I'm willing to work and learn. So, I need help. If anyone can either help me or point me in the direction I need to go to learn. I sort of get the idea of wholesaling, I've seen comments that say it isn't the only thing to do in real estate and I'm aware of that. I don't believe its easy work either but I want to get started and hopefully find my way to where I need to be, something that actually works for me. I'm looking at it as a way to get my feet wet. As I mentioned above, I'm unemployed and therefore broke. I can't pay for real estate school or a course. I know there are lots of free resources on the internet I can use, that's where I could use your help. If you all would be so kind to help me find my way or get some guidance, I'd greatly appreciate it! I have no money, but I do have the desire, the motivation and determination to get it done!

Thank you all ahead of time and have a great week!

By the way, I'm in Las Vegas, NV.

How did this deal work out for you?

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