I am in south bend Indiana, I am currently on vacation from my 9-5. I am trying to get into real estate investing and one of my Biggest problems right now is lack of capital. Therefore I am wanting to try wholesaling, I have read the guide to wholesaling but I would love to have someone walk me through it in person while doing the process. All I’m asking for is your experience, and in return I will gladly split the profits generously.
The answer to lack of capital is NOT wholesaling. It's keep working your W-2 and getting promotions or move to better jobs and keep that going until your income from real estate meets or exceeds what you were making. You are looking for a hack like so many new investors, but 99% who try what you are saying will fail miserably. Do you have any real estate experience? Do you know how to estimate repair costs? Do you know how to run ARV? What skills from your jobs or life do you have that will help be part of the 1% that succeed in wholesaling?
@Jonathan Greene has some excellent points above. I did want to reach out though as I also moved into the area around a year ago and can say that South Bend has an excellent local REIA. I'm not super experienced and am just getting my feet wet in the area, but there are plenty of active investors that are happy to discuss options and help newer investors out.
We just had our July meeting but have one each month around the 3rd Thursday of the month. Here's the REIA website link if you have any interest in networking https://reia-nci.clubexpress.c...
No worries, it's not a pitch-fest type REIA, just somewhere to hang out and talk investing each month!
@Matthew Reum I’m in the area and would be happy to chat. I’m more of a buy-and-hold investors, but know many wholesalers in the area.
I would agree with Jonathan that getting very good at a full-time job is probably a better way to build capital.