New to real estate and contemplating on doing Wholesale.

Wholesaling
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New to real estate and contemplating on doing Wholesale.

Niko Tsiolas
Member since 2021 · 1 post · 0 votes

I’m new to real estate and I’m contemplating on wether or not I should start getting into wholesale real estate.is it lucrative and legit ? And advice is helpful thank you.

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Eric James
Investor · Malakoff, TX · Member since 2017 · 2k+ posts · 2k+ votes
5y

People who have no cash dream that wholesaling is their ticket to fast riches. These reality is it's the hardest thing to do in real estate and maybe 1 in 1000 are successful.

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  • Account Closed
    Flipper/Rehabber · New York, NY · Member since 2019 · 340 posts · 122 votes
    5y

    Well, wholesaling is definitely a great in to real estate and yes can be very lucrative. The hardest part is figuring out unique ways to get in front of motivated homeowners. It also depends on your budget. You can’t get into buying and fixing homes if the budget and cash aren’t there. Wholesale is an amazing in between if you want to flip homes in the future. It also depends how new you are you might want to start with some YouTube’s. 

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  • Eric James
    Investor · Malakoff, TX · Member since 2017 · 2k+ posts · 2k+ votes
    5y

    People who have no cash dream that wholesaling is their ticket to fast riches. These reality is it's the hardest thing to do in real estate and maybe 1 in 1000 are successful.

    3Reply
  • Account Closed
    Flipper/Rehabber · New York, NY · Member since 2019 · 340 posts · 122 votes
    5y

    @Eric James I think because most people go about it the wrong way. That’s the difference why most people in wholesaling aren’t successful.

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  • Jeffrey Donis
    Investor · Durham, NC · Member since 2020 · 1k+ posts · 691 votes
    5y

    Welcome @Niko Tsiolas. Wholesaling is a grind. It took us 6 months to get our first deal. It is not easy, but it is simple. You can make good money. But, at the beginning, it takes time, persistence, and consistency. Unless you find a unicorn deal, the money's in the follow up. So, you'll be closing deals you first contact a few weeks/months ago. You build a pipeline and follow up. Overtime, you'll build up a big enough pipeline where you'll be closing deals consistently. However, there's sometime needed to get there. 

    It's important for you to sit down and determine what your goals are. Do you want passive income? Quick cash? How much money do you have to invest? Where do you want to be in 1 year? 5? 10? how much income do you want by these dates? Passive cash flow? Doors? What kind of lifestyle do you want (working everyday or retire early)? These questions will guide you to the right sector of real estate. PM me if you have any questions about goal setting or finding the right real estate path.

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  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    5y

    @Eric James

    1 in 1000 may be too generous!

    Private Mortgage Financing Partners, LLC
    WebsiteView Page
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