Elk Grove, CA · Member since 2016 · 70 posts · 19 votes
Hi Everyone,
Being that I'm still fairly new to real estate, I'm not too familiar with wholesaling and how that works. One person I know she said it's not that great of a investment. But then I've been told by a couple of others that it's a good investment, and that I'd have to look for wholesalers to get good deals.
My question is, what makes wholesale real estate properties ideal? Would it be worthwhile to also be a wholesaler, or just buying from wholesalers only?
Why wholesaling?? Because there little cash from the wholesaler and the profits from any such transactions.
Wholesaling per se is a risk/reward situation. Some states view it as Brokerage (because there's one party on each end of the transaction) and require an Agents license - - ergo RISK.
Some REI people don't want to operate a rental - - it's too much of a commitment when wholesaling is in-and-out quickly.
I prefer Buy&Hold where I can have a constant cash-flow.
For me, wholesaling is great because I don't have much financial resources available to me. So it allows me to get into the real estate game with little to no money down.
Also in most cases it's quick cash due to your contract w/ the seller.
@Jeff B. I figured I'd try my hand at wholesaling since I have no money to start with in real estate. I'm fairly new, and I want to get some cash quickly, even if it's small. However, fixer uppers will be my primary focus.