All Forum Posts by: Jessica Ribeiro

Yep @Preetinder Singh, to pile on: I was assigned an awesome mentor (required) - her plus an awesome local team make eXp work for me as a newer agent (which is good because I can't go full time yet).  Because it worked for me, I try to match new agents up with teams and mentors to talk to before they make a decision on which broker to join - similar to how many new agents interview multiple brokers.  It isn't always right for them, which is completely understandable.  

Regardless of where you end up or for what you will use your license for, you WILL need support until you get street smart on contracts, transactions, lead generation, etc.  It is important to make sure you will get it.  

Go out there and crush it!

If you are going to wholesale real estate you do not need a license, if have a license, there is a bit more liability on you.

@Jessica Ribeiro

There are a few wholesaling outfits in our area whom you can probably work for and learn the business with. Id suggest doing that. Also all wholesalers who do well here are licensed real estate agents as far as I’ve noticed. Good lucI 

@Jessica Ribeiro While I disagree that ALL mentors are categorically bad, I'd say the good ones are few and far between.

That being said, when you're just starting out, the best way to get your first deal is to just talk to people.

What do I mean by that?

Door knock or cold call.

Get used to making offers on properties and talking to homeowners.

Don't be afraid to fail forward.

(There are a ton of free videos on YouTube on the above methods.)

Let me know if you need any help being pointed in the right direction.

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There's this idea that wholesaling is overly complex...it doesn't have to be.

It can honestly be distilled into several parts:

1) Call homeowners (either found via ListSource.com or Driving For Dollars)
2) Make an offer on the property (if you're not embarrassed by your offer, your offer is too high).
3) If they accept, DocuSign a Purchase & Sale agreement to them, set for 30-45 days out.
4) Once the property is under contract, open title on it and begin to market the property.
5) When you've found a buyer, DocuSign the assignment contract to them and tell them to send the Earnest Money Deposit to your Escrow company (from Step 4), cashier's check, money order or direct wire.
6) Collect the rest of your assignment at closing (aka Profit!)

There are certain other nuances that you'll learn about the wholesaling process; these are generally learned from: 1) Failing forward (experience), and 2) Talking to other wholesalers.

Best of luck! 🔥

@Jessica Ribeiro Come to our women’s group if you are near ft lauderdale December 18th listed on events page. It could help you meet & network with other investors.

Where in S. Florida are you planning on doing this? 

@Gavin Welch good first part, definitely NO to mentors. They are all BS. But bad advice on Zillow preforeclosures. Those are complete garbage. They link every time a lis pendens is filed and most get resolved, but Zillow DOES NOT take them down once they are resolved so many, many homeowners who cleared up their quick debt get calls from people and it drives them crazy.

@Jessica Ribeiro, don't even think about wholesaling before you learn everything about it. It's not a great place to start and if you want to wholesale, you have to do a lot of steps to properly market for your best return. Go to local REI meetups in your area and don't buy in on what everyone tells you. Get cards, do research, and see how pans out to be what they say. Follow up with them and keep going and learning. Wholesaling can be very sketchy and you need to know all the ways it can go wrong before doing it.

DO NOT SPEND MONEY ON A MENTOR!!! If you are going to start wholesaling, find distressed owners and contract them.  Preforeclosure in zillow is a good place to start.  Pull a probate list and mail them or call. Or driving for dollars.  DO NOT SPEND MONEY.. You can get the help for free.  Good luck,   Reach out if you have any questions.