Memphis Area?

Question

Is there anyone that works within the Memphis, Tn area?  If so, I am new to REI and working on my first wholesale deal. Is there any specific spots I should be working in? and what is the first step towards moving in the right direction for a wholesale deal? Marketing the "I buy" signs to find sellers? I have taken several coarses and webinars but have no hands on experience because I keep getting confused as to which steps to take.

Jerry Woods · Answer

Wholesaling is simple in theory.But to be successful you will have to work hard.Its gets easy over time as with anything.

Matthew Nathan · Answer

Ok. Thank You! When you said, "Wholesaleing is not easy at all" I was very surprised to hear that.  That is the first time I'v ever heard someone say that. It seems all I ever hear is " it is the easiest part of real estate one can do and it is quick and easy money " but I like being hit straight! thanks for your non bi-est advice I appreciate that.

James Vermillion · Answer

Matthew Nathan,

There are quite a few people from the Memphis area on the site and if you stick around the forums for a bit you will see who they are.   You are asking some very basic wholesaling questions so I could point you in the direction of the forum area for wholesaling.  You should read as many of the threads that apply to you as possible, as they will give you some direction. http://www.biggerpockets.com/forums/93-wholesaling

I am not a wholesaler but can tell you wholesaling is not easy...at all!  Most people who get into wholesaling fail, because they do not put in the work or understand the basics before they get started.

In addition I would recommend you seek out a real estate investors association in your area.  There you can meet some people in your market who can help you with market specific question and network with other investors.  Good luck!