Wholesaling Beginner in West Palm Beach

9 Replies

Hello everyone, my name is Tatiana Etienne, I am a beginner in the real estate wholesaling industry in the West Palm Beach area. I would love to connect and meet new people! Any advice or tips for newbies?

My advice is to learn as much as you can through book, podcasts, blog posts, research and fellow wholesalers in your area. Information and some start-up capital is key to get the momentum going. I've been doing it for a month and a half now and have yet to get a deal but I read that if you want to actually make money in wholesaling give it a year before you make a decision on whether or nor to keep doing it or cut your losses and do something else. Also setup a LLC (or S corp) so you can save some money during tax time.

Originally posted by @Omari Bookal :

My advice is to learn as much as you can through book, podcasts, blog posts, research and fellow wholesalers in your area. Information and some start-up capital is key to get the momentum going. I've been doing it for a month and a half now and have yet to get a deal but I read that if you want to actually make money in wholesaling give it a year before you make a decision on whether or nor to keep doing it or cut your losses and do something else. Also setup a LLC (or S corp) so you can save some money during tax time.

Thanks Omari! I'm working on getting an LLC now and also working on gathering a buyers list. What were some difficulties you've had within your first month and a half?

Florida is increasingly aggressive about unlicensed brokering.  Get a real estate license.

@Tatiana Etienne

One thing not often taught by gurus or novices is the law. In Florida, one cannot advertise properties they do not own unless they are licensed. Using contracts to circumvent licensing law is illegal. If you put properties under contract and then market them, you are brokering WITHOUT a license which is a 3rd degree felony. The only way to legally "wholesale" is to own the property or be licensed. 

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475.43 is the relevant statute 

@Tatiana Etienne   Welcome to the community! There is a ton of information on here, and I suggest you dive into all of it. Especially the podcasts. Also, be sure to network with your fellow investors. There is a meetup this Saturday in Delray Beach if you are interested. I can't promote the details here, but you can either search for Coffee with Investors in Delray Beach... or you can send me a msg. Good luck out there.

Hi, if you have an real deal you are trying to wholesale contact me. I buy in the West Palm Beach area. Don’t stress building a long buyers list, just have a good one. Having 5 real buyers is better than 500 people that aren’t going to close the deal.

hey a fellow palm beacher!

Happy wholesaling. It’s competitive as hell here, do something different than the rest.  

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