Recommendations for learning how to Wholesale?

Question

Hello BP team!

Newb here - just starting out on my REI journey. I have a solid LTR and one MTR, but would like to grow my portfolio. The problem is (shocker) I don't have a lot of capital to invest. Additionally, I am working on paying off about $30k in debt (a credit card and our two vehicles) before I buy another property. I would also like to have an emergency fund for this purchase (I learned that the hard way with my last purchase of a 100-year-old bungalow...).

I just started reading/hearing about wholesaling. And would like to explore this option to earn some extra capital to pay of my debt and save for a future home purchase. I am getting better and better at underwriting deals and learning about future markets in which I'd like to purchase - but sometimes when I find what looks like a good deal - I can't really do anything with it!

Does anyone have any recommendations on how to learn how to wholesale? Or are there some groups out there where I can find a good deal and bring it to a "partner" - someone connected in the industry to help me find someone to whole sell it to? I understand I would be splitting whatever earnings we make - and that's fine. I just want to put these skills that I'm already practicing, to good use as kind of a "side hustle" until I save enough capital to make my next purchase.

Thanks in advance!

Josiah Garcia · Answer

Nice start with an LTR and MTR—that's a solid foundation. Since your post got cut off, I'm not sure what the actual problem is you're hitting, but common growth blockers at your stage are usually capital, finding deals, or knowing which strategy fits your market. Once you share what's holding you back, the BP community here can give you way more specific advice than guessing.

Kerry Noble Jr · Answer

theres a couple podcasts like, wholesaling Inc and the flip empire that can help you. also, connect witht the bigger wholesalers in your area, they generally buy too.

Crystal Smith · Answer

My recommendation is to find a company in your area that specializes in wholesaling (like New Western) and join it so you can learn. Or find the biggest wholesaler in your area and learn by joining his/her team.

I learned by working with one of the largest licensed Real Estate companies in Chicago & then got my license. My partner learned by purchasing properties to fix and flip, had too many projects & then started assigning projects to other investors in his network. He learned how to do it through networking.

Good luck

Cassandra M Stanton · Answer

Weird - it doesn't look cut off from my end. I posted the below:

Hello BP team!

Newb here - just starting out on my REI journey. I have a solid LTR and one MTR, but would like to grow my portfolio. The problem is (shocker) I don't have a lot of capital to invest. Additionally, I am working on paying off about $30k in debt (a credit card and our two vehicles) before I buy another property. I would also like to have an emergency fund for this purchase (I learned that the hard way with my last purchase of a 100-year-old bungalow...).

I just started reading/hearing about wholesaling. And would like to explore this option to earn some extra capital to pay of my debt and save for a future home purchase. I am getting better and better at underwriting deals and learning about future markets in which I'd like to purchase - but sometimes when I find what looks like a good deal - I can't really do anything with it!

Does anyone have any recommendations on how to learn how to wholesale? Or are there some groups out there where I can find a good deal and bring it to a "partner" - someone connected in the industry to help me find someone to whole sell it to? I understand I would be splitting whatever earnings we make - and that's fine. I just want to put these skills that I'm already practicing, to good use as kind of a "side hustle" until I save enough capital to make my next purchase.

Thanks in advance!

Recommendations for learning how to Wholesale?

Recommendations for learning how to Wholesale?

Most Popular Reply

4 Replies