Real Estate Agent · Las Vegas, NV · Member since 2018 · 65 posts · 44 votes
I wanted to create a discussion thread for all the wholesale beginners out there just getting started. I want this to be a place where we can share information that isn't found in other places on BP. Or maybe the information is here, you just need some guidance. Don't be a skeptic, there are enough people to do deals with out there and there is always co-wholesaling deals as well. Some people have buyers that we can't completely satisfy and there are sellers we can't find good buyers for, so have at it. Let's connect, share, and help one another!
Let's start with something simple: What state you live in, any questions you have, and what got you interested in wholesaling?
Rental Property Investor · Encino, CA · Member since 2016 · 324 posts · 178 votes
7y
@Walter Kimbrough I would start off getting your own lists by driving for dollars and looking for distressed properties. You can also go down to the county court house and look up eviction records, divorce, etc to get lists that are harder to find. These will yield higher chances of finding a deal.
@Renae Pinkney That is perfectly normal. I lookup the LLCs on the State Secretary website, call the registered owners, introduce myself, ask if they are in fact flippers, see if they are looking for more flips, if so write their formula and criteria, then get to work.
Real Estate Agent · Las Vegas, NV · Member since 2018 · 65 posts · 44 votes
7y
@Matt Zilinskas and @Ron Walton you are welcome :) Trying to put out some useful information. It also helps me retain the knowledge. Lifelong learning is best way to go!
Flipper/Rehabber · New York City, NY · Member since 2015 · 19 posts · 8 votes
7y
@Marisa Aceves thank you for your response!
I have asked buyers what they’re looking for and I actually have some app developing skills as well. Not anything major but I may be able to provide some assistance
Realtor · Cape May, NJ · Member since 2018 · 8 posts · 5 votes
7y
@Jimmy O'Connor I’m also a realtor (in NJ) and am just getting started in wholesaling (haven’t done a deal yet). My broker is fine with me doing this.
I’m trying to figure out how to add in disclosing I’m a realtor in my direct email letters and marketing. How have you done this?
Also, I’m going to be starting out doing assignments.
Rental Property Investor · Portage, WI · Member since 2018 · 33 posts · 11 votes
7y
This may have been asked many times before. I would just like to get some opinions from you all about pros and cons of being licensed and wholesaling. I have studied for the test and just haven't taken the test. Would you guys go a head and take the test, or would you recommend focusing on wholesaling? Any information would be greatly appreciated. Thank you all in advance.
Real Estate Agent · Philadelphia, PA · Member since 2018 · 428 posts · 484 votes
7y
@Account Closed First off, I'm from Sea Isle!! Always good to connect with fellow beach people. But usually in my marketing I literally just say that I am a "Licensed Agent that specializes in Distressed Properties." Nothing too crazy beyond that. Before I sell a property I always explain the wholesaling process but adding you're an agent separates you since the barrier to entry for wholesaling is so small.
I also have the consumer notice since we are legally obligated to do that as Agents which is an advantage because it is written proof that you are held to a higher fiduciary standard.
Real Estate Agent · Member since 2018 · 2 posts · 1 vote
7y
@Marisa Aceves hey my name is Rickey Stevenson and I’m from Rhode Island, just bought the steve cook course and am still kind of lost looking for a mentor, I feel it’s a good strategy just pretty new to it all, and should love to connect.
Buy and Hold Investor · Cranston, RI · Member since 2013 · 1k+ posts · 1k+ votes
7y
@Rickey Stevenson the Bigger Pockets Ultimate Beginners Guide has a good section on mentors. But it comes down to, you'll just need to get out there in your local community of other real estate investors (local meetups and groups) and network, meet people for coffee, make friends who are at your level or slightly above, and see what clicks.
That's how I met my first mentor, back in 2003, by going to a local group. My very first meeting, he announced he was looking for a bookkeeper, and since I had just moved back to Rhode Island and had experience keeping my own C-corp books with Quickbooks, we hit it off.
I will say that finding a mentor - or even making other real estate friends - is a bit like dating. It's easy to be 'over eager' and turn people off, so I'd recommend a softer approach and just try exploring and who you have good connections with, and trying to help other people as much as you'd (eventually) like to be helped yourself.
Also, since it's your first post, welcome to Bigger Pockets. There are a lot of great resources (and people!) here on BP, and if you haven't already run across it, the podcast is very entertaining and informative and I highly recommend it!
@Account Closed First off, I'm from Sea Isle!! Always good to connect with fellow beach people. But usually in my marketing I literally just say that I am a "Licensed Agent that specializes in Distressed Properties." Nothing too crazy beyond that. Before I sell a property I always explain the wholesaling process but adding you're an agent separates you since the barrier to entry for wholesaling is so small.
I also have the consumer notice since we are legally obligated to do that as Agents which is an advantage because it is written proof that you are held to a higher fiduciary standard.
@Jimmy O'Connor What a small world! Yes, it's definitely nice to connect with people familiar with the beach! I'm thinking about starting with the standard yellow letters but make them slightly different to stand out a bit. I think I was overthinking how to word everything letting them know I'm an agent who's an investor looking to purchase their property. I did us "we" since I'm going to be wholesaling and I'm not technically buying the property.
Where do you get the consumer notice? Definitely something good to have.
Honolulu Hi · Member since 2018 · 188 posts · 27 votes
7y
@Walter Kimbrough go after them all ! Lol pick two or three ways to market to them but don’t limit yourself from looking at all the opportunities out there man. Or you’ll just miss a deal.
Hi there folks. I've owned a few rental units but I'm just now getting into wholesaling. I've been listening to podcasts, a ton of youtube "gurus" and such. What are some essential books to read on wholesaling for beginners?