As a newbie, what are the first steps to wholesaling?

Question

Hi everyone,

I'd like to hear from you on what are the first steps to beginning my real estate career in wholesaling. I have a little over 25k sitting in my bank and my overall goal is to amass investment properties over time but from what I've read, wholesaling maybe a great avenue to generate additional capital to invest in even more properties.

Any advice would be welcomed! Thank you

Jose

Justin Howe · Answer

Hi @Jose Corbera The first step is learning the business and you're in the right place. BP has a vast amount of information on wholesaling from articles to podcasts. Invest some time learning how to find deals, put them under contract, and then assigning the contract to a new buyer.

This article breaks down assignments really well.

https://www.biggerpockets.com/renewsblog/2016/07/0...

Paul Timmins · Answer

@Jose Corbera

Couple good reads

• 9 Reasons You Couldn't Find A Buyer For Your Wholesale      Deal
• Don't Start Wholesaling Until You Read This: Wholesale      Advice from a Fix and Flipper
• How to Start Wholesaling: Getting Past The Education and      Into the Field

Ultimate Guide to wholesaling

https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/

Have a buddy who walks a targeted neighborhood door knocking on doors speaking to residents on behalf of the local politician. He works in the conversation that he has people looking to buy in the area. He offers a referral fee.

Paul

Jose Corbera · Answer

Thank you Justin, really appreciate the feedback.