What should be my first step towards Wholesaling?

3 Replies

Hello everyone,

After many months of preparation, following many forums here and countless YouTube videos, I’m ready to take my first step into Wholesaling Real Estate.

I’ve done homework on the NJ real estate (via websites) and I’ve found potential listings with great comps in the same neighborhood.

My questions are:

1. Should I start looking into having a pre-approved loan?

2. Should I start calling possible motivated sellers?

3. I do not have cash to offer so should I look for cash investors in advance?

All of the above?

Will appreciate the advice on which is more critical or am I missing something more important?

Thank you for your time.

If you're just getting started I'd recommend staying away from homes that are listed with a realtor.  It's a different ballgame than dealing with one that's not listed.

(1) If you'll be wholesaling you don't need a loan

(2) Yes, always call motivated sellers. 

(3) No problem with no cash.  If you do it correctly you don't need any cash.  

Have you considered partnering with a local wholesaler?

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