first step to wholesaling

4 Replies

whats the very first step i should take in wholesaling a house and do i need any money at all to do this and who should i look or look out for?

Jovante,

    Theres a lot of steps in the process, but most like the first one would be identifying a property. You will need some money to get it under contract (most likely 500-1000 as consideration to tie up the property and probably about the same to pay an attorney to handle the documents. Feel free to call or message me and I can give you more details. The phone number is 8573896086. Bigger pockets also offers an ebook that is awesome and can help you as well, its available at the following link.

http://www.biggerpockets.com/files/user/brandonatbp/file/ultimate-beginners-guide-to-real-estate-investing 

@Jovante Foreman

STEP 1:   find an active investor to partner with and show you how to invest;

STEP 2:   repeat.

If you want to learn to do something right at the start, you will need to learn from someone who has already done it right.  

Hi Jovante,

Welcome to BP.  While many will say wholesaling is the easiest way to get involved in real estate investing keep in mind that it takes a pretty high level of sophistication in deal analysis and negotiation and a seller who is willing to unload a property at a very deep discount.  

I would advise finding a mentor who is willing to walk you through the process. Offer your time in exchange for advice. Make yourself valuable to the investor.

Realize though that in order to build a wholesaling business you will need to spend thousands/month on lead generation.  It's a numbers game to find deals. 

Good luck and start attending REIAs and network with everyone. 

Best,

Rob

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