How to get started on wholesalinh

Question

Hey guys, my name is Kalfonn, I live in Buffalo, NY and  I am interested in Real estate. My main focus for me is Wholesaling, because I dont have cash to focus somewhere else, and  i am new, but then again, I'm not.

A year ago, I started wholesaling, but I had no success doing it, so I've gotten discouraged and more broke, which made me stop pursuing it. I am interested in starting again, but I lack some information that will help close out my first deal.

when I was doing wholesalers, I had couple seller leads such as; foreclosures, short sales, and one regular lead, but I didnt know what approach to take to get the ball rolling. I had contracts and stuff, but then, I had to do a title search, where I have no idea on how to do that, and more.

Returning into wholesaling, i want to know the steps of making this deal work. All I need is to get one deal, then I know I will continuewelcomed. I do have a full time job, where I work 7am to about 8 at night. but off weekends.

so any help, advice/suggestion are welcomed.

May Emery · Answer

@Kalfonn Desrosiers Good luck with your re-start-up! Marketing to find deals is crucial! Mail takes money but it has proven effective IF you get good lists.

While Absentee Owners with Equity have been the most popular for years, the problem is that too many people are mailing to the same people and selling to each other.

Consider working with a list broker who can make better suggestions for your market.

Also plan a marketing message that talks about the benefits that you bring to the table. Paying cash-as-is is a "feature" the benefits are - they don't have to fix things up or have strangers traipsing through looking at everything.

Kalfonn Desrosiers · Answer

@shawn banzer,

thanks bro, I will keep that in mind.

Shawn Banzer · Answer

Hi kalfonn, I am also from the buffalo area. I would say the key to wholesaling is finding actual deals. Don’t inflate arv or say 20k rehab when the place is on the brink of falling down.

Kalfonn Desrosiers · Answer

@ned Carey I have enough to get as going and what not. it's the matter of the approach of getting the seller or contract, to buyer, to the deal. I like to socialize, so communication should be easy.

and thanks, I will look at it

Ned Carey · Answer

@Kalfonn Desrosiers

Right now the market is competitive and lots of new investors are trying to wholesale. While many Gurus and you tube videos push wholesaling as something you can do with no money. The reality is you need money for marketing to find deals. If yo have no money, you may be able to do the occasional deal but it would be very tough to build a business model that way

No you don't need to do a title search. Check out some of the educational material under the education tab above.