What can I offer as a newbie to a Wholesaler?

Question

Good Day to you BP family,

I recently attended one of those real estate guru seminars hoping to learn some information, and I learned some. Unfortunately, in order to get the details I needed to pay $500 to $1500 to learn more and receive mentoring.

So I stopped there...but I did meet some wholesalers/investors who "graduated" from program and got their contact information.

In my brief conversations with the investors I mentioned that I didn't have the cash to invest in the guru program, but I wanted to learn and that I am willing to do legwork (analysis, post signs, drive for dollars etc.) to learn from them.

I haven't contacted them since met them Saturday because of the holiday but plan to touch base tomorrow.

My question to you all is: what should the investors expect from me and how can I best help them to make it a profitable/beneficial relationship without being taken advantage of? Also, what can I do to make myself a more attractive candidate? I have one rental property but that's about it.

Looking forward to your advice!

Thanks,

Michael

PS if there is anyone in Prince George's County, Washington DC, or Northern VA investing in buy and holds, wholesaleing or any REI that is willing to mentor please let me know! I learn better by doing!

Kedrick Thornton · Answer

I agree with @Matt Motil. You already have a rental property. Grow that business! Get more! You want passive income. You don't want to all the headache that comes with wholesaling and flipping. No disrespect to people that do that. I understand that both of those strategies provide fast cash, but rentals will allow you to truly become wealthy. That's the goal, right?

Matt Motil · Answer

I'm going to drop some truth on you right now. You sound desperate and weak. Stop it!

You already have a rental property? You're doing better than 75% of the people that get suckered into "Graduate" from those guru seminars. I would continue to be active on these forums, listen to every single podcast here and network amongst people you meet at local meet ups and REIA meetings in your area. Gain free knowledge from BP and the resources here and I think you'll gain some confidence and realize you really don't need what you think you need from the people you're hoping to meet.

Knowledge is power!

ps you were lucky you were broke at the guru event! You saved yourself some real money that you can put toward your next deal

Michael Tucker · Answer

@matt motil @kendrick thorton, thanks for your responses as well (didn't see your responses before), I didn't mean to come across desperate, but right now I know it will be some time before my wife and I have personal capital available to invest, so I'm looking for the best ways to learn and get involved in RE in my area. Reading and podcasts are great but I really think I need practical application while I'm waiting. I'd love to work with folks purchasing but and holds in my area just to learn and if I could help them along the way even better.

Michael Tucker · Answer

@M Marie Maxwell and @Phillip Dill thanks so much for the insight. My goal is to get more buy and hold properties, but right now I'm not in the position to invest. I thought that by working with some local wholesalers I might be able to learn more about RE as a whole, get some mentoring/experience, learn more about my area, and make some money bird dogging/analysing properties, until I'm able to invest again myself.

Bad strategy? I'm just trying to get involved right now.

Phillip Dill · Answer

Read, Read and Read. Everything you need is in the many real estate investing books they have out there. There's nothing wrong with having people to help guide you along your journey but through my experience it's all in the books/webinars

M Marie M. · Answer

@Michael Tucker you already have one property, work on that and get some more. BP helped me bring my one rental into the 21st Century when some people on the forums were talking about property management tools. I'm happier. My tenants' are happier.

With a guru you only get one point of view, here at BP you get many views and experiences. I found it helpful to learn about wholesaling and other RE things, but I have very little interest in engaging those things. Stick with buy and holds and go for the BRRR. That's what I say but I'm biased.

What can I offer as a newbie to a Wholesaler?

What can I offer as a newbie to a Wholesaler?

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