Where to start with wholesales?

Question

A friend and I have been looking to get into the wholesale business but we just don’t know where to start. I’m 19 and he’s 18 and combined we barely have any money. Are there any necessary steps we need to take? Any books or forums that we must read before starting? Any tips would be appreciated. Thank you.

Jonathan Greene · Answer

You barely have any money. You have no knowledge of where to start. Why do you want to get into wholesaling? Do you think it sounds like an easy way to make money? What is going to make a seller trust two kids under 20 to assign their contract out. Do you have money backing and if not, what's your pitch? How are you going to build a buyer's list of vetted investors with no experience or real estate contacts at all?

Jonathan Greene · Answer

@Carol Birnberg yeah, you are right. We should continue to make everyone think that wholesaling is easy and anyone can do it. It's not harsh, it's reality. The reason why wholesalers have a bad name nationwide is because they don't know anything, in general, and because they all think it's their way into investing. It is not. Bad wholesalers make it harder for real investors with sellers and properties and values.

Carol Birnberg · Answer

@Jonathan Greene iuuff tooo harsh.... where is the positive talk? Come on?!?!!.

Jonathan Greene · Answer

No, don't give up. You wouldn't even be giving up on a formed idea. All you have is, I'd like to wholesale. Why? What skills can help the business? Why would someone older buy from you, even when you know more? Too many forums telling kids to get into wholesaling. The chances of me, an investor for 30+ years, buying a deal off of a 20-year old with no experience is underneath zero. So you have to learn more and make connections.

Donnie M. · Answer

@Jonathan Greene

So are you saying we should just give up? I just wanted to find books and things we could use to gain the initial knowledge.

Lydia R. · Answer

@Donnie M. i have a great book I can recommend! Im not a pro member so you have to PM me so I can share it with you! It will definitely help you get started!

Where to start with wholesales?

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