Wholesaling in Minnesota

4 Replies

Hello,

I am currently looking for ways to enter the real estate market. I currently live in the southern metro, 20 minutes from Minneapolis. One topic that I keep seeing is wholesaling. I have done a lot of my own research and do believe it is a reasonable tactic. Is a “wholesale” still a thing? If so, what are the pros and cons with going down this path? Is it the best option for a young man with pursuing the entrance to the business world, real estate and investing? Also, when the market does fall, is wholesaling better than being a licensed realtor? Any information would be greatly appreciated as I said, I am new to the game! Message me personally if you are willing to share any advice or chat.

Thanks in advance!

@Alex Speed if you’re waiting for a downturn then you’re going to buy low and sell high. If you want to start wholesaling you’re contracting low and closing high with a partner who is going to keep the property for whatever end and you walk away or stay in the deal and share the profits. You absolutely must be certain that you are not ever representing anyone else’s interests besides yours and your partner’s. It’d be less complex to learn about buying and holding or flipping using OPM that way you don’t walk gray areas. Hope this helps. Feel free to DM me for anything else

@Jorge De Jesus

The ultimate goal is to yes, invest in my own properties to either flip or hold. I am really new to the market and don’t have much to invest with quite yet. I have been doing hours of research, reading and listening to podcasts so I’ve learned a lot but have way more to go. I am looking for advice on anything you can provide, including how to set the business up or if I should be attending any events and what to expect all together!

Thanks