New to wholesaling please help

19 Replies

about a month ago I bought a program to help me get started in my journey to wholesale and flip houses. I want to get started but i am getting overwhelmed. Where do I find deals and how do I build my buyers list? I don’t know any real estate agents to help. If anyone could help simplify how to get started I would appreciate it so much!!

@Aubrey Painter - I've found a good place to start is with your local REIA.

The good ones are well attended and you can meet buyers, wholesalers, flippers, hard money lenders etc, and they are also a good source for info.

I also like local meetups - 

It's all about networking - that's really the most important aspect of real estate investing.

DM me if you'd like more specifics - too much to put in a post!

Good luck!

Hello Aubrey! That question will have many different solutions.  First of all, just do what you like.  Wholesaling is not necessarily a good place to start.  There are many salespeople that want you to choose wholesaling to help them out and make more money.  Fix and Flip does not require as much talent or knowledge.  Do what you want to do and do not be convinced by others to do what you want to do.  The more you learn confidence will increase and you will not feel overwhelmed.

The best way to approach Fix and Flip involve more of your time unless you hire a construction manager you trust and who will put up with your daily communication.  They must know your goals, understand them, and be diligent with completing on time and following your desires.

One of the most important things to do on a Fix and Flip is to have a complete scope of work needed and bid out by the professional sub-contractors with protective insurance to keep you out of related lawsuits.  Do not pay anyone ahead of time, especially with the final payment and insist that they do sign a full  final lien waiver.  You will get about 3 bids for each item involved.  That should help you get  the best bids for each repair item and assure they are the best choice.

You should feel like all subs are willing to respond well to your schedule.  Stress the importance of your schedule and they should respond well to your work requests and their ability to do that.  I don't know where you are I was not able to give you any answers with your geography.

Build your buyers list by making good choices when you get good deals.  It helps to be a member to local real estate investment clubs and events.  Call several Agents that are experienced at what you do and let them know what you are looking for.  Some will help you and some will not.  Put up your signs in the yards of your purchases that contain a short message and your phone number.  What might  work is getting permission from several property owners to allow you to put up a sign in key locations where they are likely to be seen by your target marketers.  Good luck to you!

@Aubrey Painter figure out what area you’d like to farm. I’d recommend staying close to where you live and start driving for dollars- looking for houses that seem vacant or aren’t being maintained. Copy addresses and search for the owner on the county tax records and write them a letter. You could also use list source to find owners with equity or absentee owners and write them a letter. By sending these letters you may not only find deals but also find other investors who will ask you to send deals there way.

Originally posted by @John Bolyard :

@Aubrey Painter - I've found a good place to start is with your local REIA.

The good ones are well attended and you can meet buyers, wholesalers, flippers, hard money lenders etc, and they are also a good source for info.

I also like local meetups - 

It's all about networking - that's really the most important aspect of real estate investing.

DM me if you'd like more specifics - too much to put in a post!

Good luck!

Sorry, but REI's are a waste of time (generally).

It is a meeting where everyone brags about how great they are doing, and do small talk about investing, exchange business cards that absolutely amounts to nothing, and then chat and mingle.

@Aubrey Painter

You want to "network" (socialize) with other investors over some alcohol, great. Want to be successful, go to your room, close the door, resist the temptation to do adult searches on computer, and devise a plan, shut yourself off for the next 2 months and focus solely on your website and the workings of wholesaling.  NO DISTRACTIONS.

Skim through this, but this is just a very general overview. More like "rules"

https://www.biggerpockets.com/blogs/7786/73445-how...

This is what you do.

Get a domain name. 

  1. Work on SEO .. don't know how? LEARN IT!
  2. Post on craigslist for buyers, and grow your list.
  3. Getting buyers is stupid easy so don't waste too much brain power on this.
  4. Instead do SEO and now learn about Direct Mailing.
  5. Learn all you can, learn from the mistakes of others here.

After about 1 month you should be here:

1) have a solid understanding of SEO and you are ready to apply it to your site

2) You have a solid understanding of DMM (Direct Mail Marketing) and you should be getting ready to send out your first campaign 

Each of these 2 points needs considerate subtasking but you need to start somewhere. With these 2 points you can formulate a solid course of action and you seriously need to stop listening too much what others have to say and use your own logic and understanding from what you have researched on your own to validate whatever other people here say.

Many many people here have the loudest voices about wholesaling but they simply SUCK at it. All they do is regurgitate what everyone else say and somehow they start believing they know how to!

Start with these to points and the path will show itself!

I will send you an invaluable "how to start wholesaling " in a private message!

Originally posted by @Michael Lee :

Hello Aubrey! That question will have many different solutions.  First of all, just do what you like.  Wholesaling is not necessarily a good place to start.  There are many salespeople that want you to choose wholesaling to help them out and make more money.  Fix and Flip does not require as much talent or knowledge.  Do what you want to do and do not be convinced by others to do what you want to do.  The more you learn confidence will increase and you will not feel overwhelmed.

The best way to approach Fix and Flip involve more of your time unless you hire a construction manager you trust and who will put up with your daily communication.  They must know your goals, understand them, and be diligent with completing on time and following your desires.

One of the most important things to do on a Fix and Flip is to have a complete scope of work needed and bid out by the professional sub-contractors with protective insurance to keep you out of related lawsuits.  Do not pay anyone ahead of time, especially with the final payment and insist that they do sign a full  final lien waiver.  You will get about 3 bids for each item involved.  That should help you get  the best bids for each repair item and assure they are the best choice.

You should feel like all subs are willing to respond well to your schedule.  Stress the importance of your schedule and they should respond well to your work requests and their ability to do that.  I don't know where you are I was not able to give you any answers with your geography.

Build your buyers list by making good choices when you get good deals.  It helps to be a member to local real estate investment clubs and events.  Call several Agents that are experienced at what you do and let them know what you are looking for.  Some will help you and some will not.  Put up your signs in the yards of your purchases that contain a short message and your phone number.  What might  work is getting permission from several property owners to allow you to put up a sign in key locations where they are likely to be seen by your target marketers.  Good luck to you!

 I stated with wholesaling and because of this I am now doing 2 flips at the same time, and bought 4 houses this year and have an other under contract. All starting with NOTHING! No money.

When someone comes here asking for help on wholesaling, .. true it it may not the best way to start, neither is starting with flipping, or buy and holding, ... every person will tell you their personal opinion on where they should and should not start. 

Many people told me "hey wholesaling may not be the best way to start"... and if I listened to them.. OMG I would most likely not be where I am right now.

So Aubrey, Go get your wholesaling genius on Gurl!! It's hard sure, and that is why you will be successful. If every damn clown would be able to make it, how successful would you really be?

Mr. Michael is not wrong, and I am sure he has your best interest in mind. So mind his warning... but I would just do the research, and know your worth then do it!

What did the program cost? Likely what you’re trying to do is a waste of time.

Why would anyone who has a super successful system focus on selling said system over just using the system?

Answer: they make more money selling that system.

Originally posted by @Caleb Heimsoth :

What did the program cost? Likely what you’re trying to do is a waste of time.

Why would anyone who has a super successful system focus on selling said system over just using the system?

Answer: they make more money selling that system.

 Why would my aerospace Engineering teacher and all universities sell you their program and teach you things?

Well if you are looking for a reason why these guru's sell their programs.... is simple because there is a business opportunity for it.

Does that mean it is useless? Of course not. A scam? Of course not.

I bought cody sperber's program and it got me where I am today. For more reasons than just the obvious one.

Yes they make money selling their system.

You make money doing investing. That dude over there makes money selling cars.

What the hell man... your conclusions are WAY out of whack!

Yo say it ias if making money from selling their system is a bad thing.

They spend time making videos. (which COSTS money)

accumulating organizing and presenting material and information in a  way that is easy to understand. A lot of work and money goes into it, and you are pissed that they are selling it and making money off of their hard work?

Come on man....

You are flat out wrong here 

@Jerryll Noorden as someone with an engineering degree I find it interesting you used that example.  Engineering programs (at least the ones worth their weight) are accredited by a national organization     That have strict standards.  

What accreditation do you get from a guru program?  There can be value but it’ll never be worth the 20, 30 or 50k these guys charge.  

We will have to agree to disagree on this one.

The stats are in.   If you bought a PROGRAM the chances of success are slim and none and none just left the building.  If you learn from your DAD or Uncle who has had success your chances greatly improve.

Originally posted by @Caleb Heimsoth :

@Jerryll Noorden as someone with an engineering degree I find it interesting you used that example.  Engineering programs (at least the ones worth their weight) are accredited by a national organization     That have strict standards.  

What accreditation do you get from a guru program?  There can be value but it’ll never be worth the 20, 30 or 50k these guys charge.  

We will have to agree to disagree on this one.

 First off... I paid $400,- for my package. Don't even try to now back track with 20K 30k 40k numbers to try to manipulate a point. WHO mentioned anything about 30K packages? Ohh just you! (and I got my contracts with that package).

You want to disagree with the fact that if someone put effort into putting a product together that would actually help its users and said product took time money and effort to put together selling said product is blasphemy?

Yeaahhh.. let's agree to disagree there homes!

How DARE Ford sell their pick-ups. 

I deserve one for free! Gaadamnit

@Aubrey Painter Ken Nyczaj has a good point about getting a list to do a mailing. This is a numbers game. Since you don't have a lot of experience, you might want to work with a list broker - they shouldn't be charging more than an online system like listsource so you will have access to some free advice on which list will work best for your area.

Where do you want property to be? what is the optimal price range? Are you marketing in an area where there are already a lot of investors?

Originally posted by @Jerryll Noorden :
Originally posted by @John Bolyard:

@Aubrey Painter - I've found a good place to start is with your local REIA.

The good ones are well attended and you can meet buyers, wholesalers, flippers, hard money lenders etc, and they are also a good source for info.

I also like local meetups - 

It's all about networking - that's really the most important aspect of real estate investing.

DM me if you'd like more specifics - too much to put in a post!

Good luck!

Sorry, but REI's are a waste of time (generally).

It is a meeting where everyone brags about how great they are doing, and do small talk about investing, exchange business cards that absolutely amounts to nothing, and then chat and mingle.

@Aubrey Painter

You want to "network" (socialize) with other investors over some alcohol, great. Want to be successful, go to your room, close the door, resist the temptation to do adult searches on computer, and devise a plan, shut yourself off for the next 2 months and focus solely on your website and the workings of wholesaling.  NO DISTRACTIONS.

Skim through this, but this is just a very general overview. More like "rules"

https://www.biggerpockets.com/blogs/7786/73445-how...

This is what you do.

Get a domain name. 

  1. Work on SEO .. don't know how? LEARN IT!
  2. Post on craigslist for buyers, and grow your list.
  3. Getting buyers is stupid easy so don't waste too much brain power on this.
  4. Instead do SEO and now learn about Direct Mailing.
  5. Learn all you can, learn from the mistakes of others here.

After about 1 month you should be here:

1) have a solid understanding of SEO and you are ready to apply it to your site

2) You have a solid understanding of DMM (Direct Mail Marketing) and you should be getting ready to send out your first campaign 

Each of these 2 points needs considerate subtasking but you need to start somewhere. With these 2 points you can formulate a solid course of action and you seriously need to stop listening too much what others have to say and use your own logic and understanding from what you have researched on your own to validate whatever other people here say.

Many many people here have the loudest voices about wholesaling but they simply SUCK at it. All they do is regurgitate what everyone else say and somehow they start believing they know how to!

Start with these to points and the path will show itself!

I will send you an invaluable "how to start wholesaling " in a private message!

Jerryll   Time for you to monetize  this knowledge you have created.. you remind me of Eric Clapton locking himself in his room for a year studying the guitar..    

Originally posted by @Jay Hinrichs :
Originally posted by @Jerryll Noorden:
Originally posted by @John Bolyard:

@Aubrey Painter - I've found a good place to start is with your local REIA.

The good ones are well attended and you can meet buyers, wholesalers, flippers, hard money lenders etc, and they are also a good source for info.

I also like local meetups - 

It's all about networking - that's really the most important aspect of real estate investing.

DM me if you'd like more specifics - too much to put in a post!

Good luck!

Sorry, but REI's are a waste of time (generally).

It is a meeting where everyone brags about how great they are doing, and do small talk about investing, exchange business cards that absolutely amounts to nothing, and then chat and mingle.

@Aubrey Painter

You want to "network" (socialize) with other investors over some alcohol, great. Want to be successful, go to your room, close the door, resist the temptation to do adult searches on computer, and devise a plan, shut yourself off for the next 2 months and focus solely on your website and the workings of wholesaling.  NO DISTRACTIONS.

Skim through this, but this is just a very general overview. More like "rules"

https://www.biggerpockets.com/blogs/7786/73445-how...

This is what you do.

Get a domain name. 

  1. Work on SEO .. don't know how? LEARN IT!
  2. Post on craigslist for buyers, and grow your list.
  3. Getting buyers is stupid easy so don't waste too much brain power on this.
  4. Instead do SEO and now learn about Direct Mailing.
  5. Learn all you can, learn from the mistakes of others here.

After about 1 month you should be here:

1) have a solid understanding of SEO and you are ready to apply it to your site

2) You have a solid understanding of DMM (Direct Mail Marketing) and you should be getting ready to send out your first campaign 

Each of these 2 points needs considerate subtasking but you need to start somewhere. With these 2 points you can formulate a solid course of action and you seriously need to stop listening too much what others have to say and use your own logic and understanding from what you have researched on your own to validate whatever other people here say.

Many many people here have the loudest voices about wholesaling but they simply SUCK at it. All they do is regurgitate what everyone else say and somehow they start believing they know how to!

Start with these to points and the path will show itself!

I will send you an invaluable "how to start wholesaling " in a private message!

Jerryll   Time for you to monetize  this knowledge you have created.. you remind me of Eric Clapton locking himself in his room for a year studying the guitar..    

 Dude I know this is stupid but why do I feel bad charging money to help others... ugh.

I really should! I would blow away all these dumb gurus!! Damnit

Originally posted by @Jerryll Noorden :
Originally posted by @Jay Hinrichs:
Originally posted by @Jerryll Noorden:
Originally posted by @John Bolyard:

@Aubrey Painter - I've found a good place to start is with your local REIA.

The good ones are well attended and you can meet buyers, wholesalers, flippers, hard money lenders etc, and they are also a good source for info.

I also like local meetups - 

It's all about networking - that's really the most important aspect of real estate investing.

DM me if you'd like more specifics - too much to put in a post!

Good luck!

Sorry, but REI's are a waste of time (generally).

It is a meeting where everyone brags about how great they are doing, and do small talk about investing, exchange business cards that absolutely amounts to nothing, and then chat and mingle.

@Aubrey Painter

You want to "network" (socialize) with other investors over some alcohol, great. Want to be successful, go to your room, close the door, resist the temptation to do adult searches on computer, and devise a plan, shut yourself off for the next 2 months and focus solely on your website and the workings of wholesaling.  NO DISTRACTIONS.

Skim through this, but this is just a very general overview. More like "rules"

https://www.biggerpockets.com/blogs/7786/73445-how...

This is what you do.

Get a domain name. 

  1. Work on SEO .. don't know how? LEARN IT!
  2. Post on craigslist for buyers, and grow your list.
  3. Getting buyers is stupid easy so don't waste too much brain power on this.
  4. Instead do SEO and now learn about Direct Mailing.
  5. Learn all you can, learn from the mistakes of others here.

After about 1 month you should be here:

1) have a solid understanding of SEO and you are ready to apply it to your site

2) You have a solid understanding of DMM (Direct Mail Marketing) and you should be getting ready to send out your first campaign 

Each of these 2 points needs considerate subtasking but you need to start somewhere. With these 2 points you can formulate a solid course of action and you seriously need to stop listening too much what others have to say and use your own logic and understanding from what you have researched on your own to validate whatever other people here say.

Many many people here have the loudest voices about wholesaling but they simply SUCK at it. All they do is regurgitate what everyone else say and somehow they start believing they know how to!

Start with these to points and the path will show itself!

I will send you an invaluable "how to start wholesaling " in a private message!

Jerryll   Time for you to monetize  this knowledge you have created.. you remind me of Eric Clapton locking himself in his room for a year studying the guitar..    

 Dude I know this is stupid but why do I feel bad charging money to help others... ugh.

I really should! I would blow away all these dumb gurus!! Damnit

first thing you have to do I understand your value.. and if you truly bring value then charge for it.. its one thing to talk on Bp in general terms but if your writing business plans for people you deserve to get paid.. just like any other consultant.

as long as it actionable and not a bunch of hype like the gurus do.

the latest is Snapflip all they do is up sell you to really expensive seminars..  as long as your not upselling and you have a defined course go for it..

if you want to give it away for free .. of course you can do that to .. but I have followed U now for a few years. and I think You could do this you could hold small class's.

I have one colleague who took a training in wholesaling  at they spent large dollars probably close to 6 figures. but it was a year long process.. and basically one on one the guru or trainer or whatever you call them only took on 5 to 7 students at a time for the year but basically created his whole business for them in depth and they are now able to live as wholesaler types.. which as you know is pretty rare some do it most don't.. pick out  few that have money to pay you teach them in detail and get paid for your expertise.. nothing wrong with that..  I love BP don't get me wrong but at some point in time we all have value.. and should be rewarded for that value. 

Originally posted by @Abdul Shishi :

The stats are in.   If you bought a PROGRAM the chances of success are slim and none and none just left the building.  If you learn from your DAD or Uncle who has had success your chances greatly improve.

 Often people that are not successful always blame it on the tools blame it on the people blame it on everybody and everything but themselves. The program is just a tool. Just like a gun is a tool. Are guns bad? no people that use guns in the bad way are bad. By criticizing the tool and blaming or generalizing and saying things like people that buy these programs have slim chances of being successful... I'm sorry but that is just flat-out dumb. Being successful and making the program work is on you. You need to put in the work. You need to master your domain.

Mind you I am not calling you unsuccessful. I am making a general Point here

It's simply strikes a nerve or two when I read stuff like that. I am very familiar with hard work and sweating and having to be three times better simply because I'm a foreigner to play on the equal Battlefield just pisses me off. People hang up on me because I have a crazy accent. People choose my competitors because I'm a foreigner which must mean I  am a scammer. When I talk to people over the phone they start to talk loud and slowly so that I can understand English.  Often people even tell me  that I am uneducated  they just assumed that because I have an accent. Then they go to my website and read the about us section  then they start calling me a scammer and a liar  because there is no way  I have accomplished what I did being a foreigner . I had to work  harder than my equal  to make it here. So to hear somebody say stuff like oh I am not successful because the tools are bad just rubs me the wrong way. I have work hard to make my tools work for me to make these programs work for me so instead of being lazy you can just make it work!

Originally posted by @Jay Hinrichs :
Originally posted by @Jerryll Noorden:
Originally posted by @Jay Hinrichs:
Originally posted by @Jerryll Noorden:
Originally posted by @John Bolyard:

@Aubrey Painter - I've found a good place to start is with your local REIA.

The good ones are well attended and you can meet buyers, wholesalers, flippers, hard money lenders etc, and they are also a good source for info.

I also like local meetups - 

It's all about networking - that's really the most important aspect of real estate investing.

DM me if you'd like more specifics - too much to put in a post!

Good luck!

Sorry, but REI's are a waste of time (generally).

It is a meeting where everyone brags about how great they are doing, and do small talk about investing, exchange business cards that absolutely amounts to nothing, and then chat and mingle.

@Aubrey Painter

You want to "network" (socialize) with other investors over some alcohol, great. Want to be successful, go to your room, close the door, resist the temptation to do adult searches on computer, and devise a plan, shut yourself off for the next 2 months and focus solely on your website and the workings of wholesaling.  NO DISTRACTIONS.

Skim through this, but this is just a very general overview. More like "rules"

https://www.biggerpockets.com/blogs/7786/73445-how...

This is what you do.

Get a domain name. 

  1. Work on SEO .. don't know how? LEARN IT!
  2. Post on craigslist for buyers, and grow your list.
  3. Getting buyers is stupid easy so don't waste too much brain power on this.
  4. Instead do SEO and now learn about Direct Mailing.
  5. Learn all you can, learn from the mistakes of others here.

After about 1 month you should be here:

1) have a solid understanding of SEO and you are ready to apply it to your site

2) You have a solid understanding of DMM (Direct Mail Marketing) and you should be getting ready to send out your first campaign 

Each of these 2 points needs considerate subtasking but you need to start somewhere. With these 2 points you can formulate a solid course of action and you seriously need to stop listening too much what others have to say and use your own logic and understanding from what you have researched on your own to validate whatever other people here say.

Many many people here have the loudest voices about wholesaling but they simply SUCK at it. All they do is regurgitate what everyone else say and somehow they start believing they know how to!

Start with these to points and the path will show itself!

I will send you an invaluable "how to start wholesaling " in a private message!

Jerryll   Time for you to monetize  this knowledge you have created.. you remind me of Eric Clapton locking himself in his room for a year studying the guitar..    

 Dude I know this is stupid but why do I feel bad charging money to help others... ugh.

I really should! I would blow away all these dumb gurus!! Damnit

first thing you have to do I understand your value.. and if you truly bring value then charge for it.. its one thing to talk on Bp in general terms but if your writing business plans for people you deserve to get paid.. just like any other consultant.

as long as it actionable and not a bunch of hype like the gurus do.

the latest is Snapflip all they do is up sell you to really expensive seminars..  as long as your not upselling and you have a defined course go for it..

if you want to give it away for free .. of course you can do that to .. but I have followed U now for a few years. and I think You could do this you could hold small class's.

I have one colleague who took a training in wholesaling  at they spent large dollars probably close to 6 figures. but it was a year long process.. and basically one on one the guru or trainer or whatever you call them only took on 5 to 7 students at a time for the year but basically created his whole business for them in depth and they are now able to live as wholesaler types.. which as you know is pretty rare some do it most don't.. pick out  few that have money to pay you teach them in detail and get paid for your expertise.. nothing wrong with that..  I love BP don't get me wrong but at some point in time we all have value.. and should be rewarded for that value. 

 Have I told you lately I love you?