wholesaling apartments

6 Replies

I am beginning to wholesale apartment building and i am nervous about this process. I would like to know is their anybody who wholesales apartments and how did they get started? Also I am kinda confused about finding your first property to wholesale. Where do you find it know it says you can go to loopnet but most of the people their are brokers. 

you have to go to the owners of the buildings.. one place there are literally thousands of these types of props that would be good wholesale targets is south side of Chicago

Why choose a niche that you're scared of? Just askin'. Cheers...

@Brent Coombs I am not scared i am more nervous maybe because this is the first time doing it  and i also feel like i there is something im missing.

@Edward Opong in order to put a mid to large sized property under contract, you will need to show significant proof of funds and even put down large deposits (six figures is not uncommon).

@Percy N. is there anyway around that or is there a different way to show proof of funds

@Edward Opong , apartment owners are typically more savvy investors than the typical SFR seller. Chances are they would want to see your ability to perform before locking up the property under contract.

However, if you are part of a group who has a track record or can convince the owner to give you a shot or try to buy from someone who has inherited the property, they are be more open.

A listing agent will want to make sure you can close.

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