Hi, I’m new to real estate practically have little to no knowledge about wholesaling other than what it is exactly. How do I get started, how do I learn this skill?
Flipper/Rehabber · Denver, CO · Member since 2009 · 1k+ posts · 726 votes
6y
Luis, its a daunting subject for sure, with a steep learning curve. I'd start right here on BP, go through the wholesaling forums. Listen to podcasts and start reading books, this will get you 90% of the way there. Then, you have to take action when you are ready.
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
6y
If you are going to look for info on wholesaling on BP, you will crash and burn. Flat out 99% of th epeople here do wholesaling wrong, dishonest and selfishly. If you find info on here that does NOT tell you that you need to tell the seller you have no intention of buying the house and that you will wholesale it... that info is wrong.
Then sadly, if you are going to find correct info on how to start, you WILL find that to start you need to get a website and make it credible.
THERE is where you start. And then you will find a bunch of information on marketing... What ever marketing method you choose make sure you calculate your deal numbers (Cost/deal, is the most important one)
Real Estate Agent · Salem, OR · Member since 2019 · 86 posts · 60 votes
6y
I personally would recommend going to local REIA meetups and try to help an investor/wholesaler out to learn the ropes. If you plan to join wholesaling with not much knowledge, know you are joining a world that is in the legal gray area and requires disclosures. It might not be good long term plan since I believe that the state real estate boards generally see wholesaling as work that imitates real estate agents so some states are starting to get harsh.
As I mentioned, would be best to look for a mentor at a REIA meeting that wholesales well.