What do I do? My first step.

9 Replies

Hi everyone one. I am looking to start my career in Real Estate investing, the reason I am starting with Wholesaling is because my lack of capital. What first steps do I take to get potential leads? I know I can drive for dollars, put up bandit signs and etc. But what else can I do? If I go to my city, which lists can I ask for? I’m located in Victorville CA. Anything and everything will be of great help!

Hi @Alex Gallardo congratulations on taking the first step! Have you checked out the guides on this site for more information about wholesaling and how to get started? There are lots of strategies. If you haven't read the guides yet, I would recommend doing so. 

I'd guess that when they say it takes a ton of money to do it right.  They possibly mean to reach higher levels.  Sometimes it is easier to have more money to spend on marketing.  Although, that doesn't guarantee you're doing it right.  

@Alex Gallardo First read everything you can find about wholesaling. Then figure out who you will be selling to buy and hold fix and flip ect. Once you have that figured out learn to analyze deals so your not just spinning your wheels. I analyze 5 properties a day just for the practice. You will also need to figure away to get leads so you will need to become a somewhat expert in marketing. I drive for dollars if you don't like to drive you can do facebook ads or cold call or direct mail. Once you have that going your going to need contracts call a realtor or better yet a real estate attorney. While your doing all of this you need to network to find buyers no use having a product if you can't get it sold. Anyway that's the short and simple but like i said read the blogs listen to the podcast and connect with others it will fall into place faster than you think if your dedicated.
@Alex Gallardo Browse the mls (by mls I mean Redfin), throughout the day to keep up with what’s on the market and pricing. When a deal pops up act quick. We made over $500k on a newly listed property and got it because we were lightning fast. Know your market so you can act quickly. Talk to agents to get your pitch down. Cold call a lot. Should have a deal in a few months at most that makes sense if you do this with the right approach, if you don’t you need to change what your doing because your doing it wrong. We hired someone to find us deals he listened to what we told him to do and he’s found us a deal a month. He had zero real estate experience when he started.