Hello I'm new to REI, I'm from NYC and wanted to get advice on a good market place to start wholesaling!

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@Kirdare Luciano ,

Start attending local REI meetings. You're more likely to find where things are hot through networking with other local investors. Of course, hitting a hot area isn't necessary. There's likely more people combing through those areas, and you might have a better time in a somewhat slower area.

The key, however, is to dive in and do it.  Don't over-analyze!

Good luck!

@Barry Pekin thank you so much! Appreciate your advice. Will do!

I would just add that you should take some actions in terms of marketing to get your phone ringing, then you need to understand comps, ARV, and repairs.. the least you need to know is how to run comps on a property, for repairs, you can hire a licensed and insured general contractor to come with you on appointments so that way you can give a fair and intelligent offer...

Side question, what part of NYC? are you brooklyn, queens, bronx, staten island, or manhattan? just curious because i also am in NYC, im in brooklyn... 

@Kirdare Luciano There's tons of information right here on BP and on other social media.  Youtube has plenty of information as well to learn how to get started.  I also recommend Instagram, as each post usually has bite sized amounts of information to help you instead of being overwhelmed with information.  

Originally posted by @Kirdare Luciano :

Hello I'm new to REI, I'm from NYC and wanted to get advice on a good market place to start wholesaling!

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 Nowhere......Wholesaling as it's taught is a myth. You need a license to Broker real estate. That's all wholesaling is as it's taught in these programs, it's brokering real estate except instead of being up front & telling the distressed seller that you'll sell their property for X amount & take X amount as your commission / fee you are taught to lie to the seller & pretend you are going to buy the property while you secretly attempt to "assign" your contract.

It doesn't work. Nobody has any respect for wholesalers. The only people making money wholesaling are the guys selling you all of that education.

To be successful connecting buyers and sellers you need to have

• An in depth knowledge of the market.
• Marketing skills.
  
• Sales skills.
• Negotiation skills.
• Accurately estimate rehab costs.
• Understand how to much time it would cost to run a renovation on the properties you are presenting.

My advice get a real estate license. Way cheaper, no legal issues, more respect and there is a decent chunk of cheap or free training out there from the mega brokerages. Soak it all in while you're trying to get off the ground. It's not an easy job, 90% fail rate but it's better than the 99.9% "wholesaler" fail rate.