All Forum Posts by: Miller McSwain

It is definitely doable! 

I don't know the specifics about your market, but $10,000 is a great start. I imagine you will need more than this though. So you can either:
1. Continue saving up yourself.
2. Attend REIA/BP Meetups and find other investors to partner with. Perhaps you could shadow a flipper on one of their projects. Then you could both bring money to the next deal, and you could manage the rehab. Many flippers would probably be willing to do something like this if you make an impression and have passion! Also, this could spark a long-term relationship that might greatly benefit you both.

Either approach will allow you to flip; however, option 2 is likely the faster way to building a flipping business.

I've mainly read about buy-and-hold; however, I'm currently becoming very interested in flipping.

Right now, I'm reading J Scott's "The Book on Flipping Houses". J dives deep into the systems and processes he follows when choosing a market/neighborhood, finding team members, planning a rehab, and executing a rehab. Also, I have read David Greene's "Buy, Rehab, Rent, Refinance, Repeat" about the BRRRR method. Although this method is ultimately for buy-and-hold, the buy, rent, refinance, and repeat parts are all important for flipping as well. So, I would recommend both of those books.

Good luck with your education!

I'm currently reading J Scott's "The Book on Flipping Houses". He dives deep into many of the systems he has in place. For example, in the chapter I'm reading right now, he outlines the order in which he conducts the stages of rehab. He follows this order for every property he rehabs, ensuring he never misses a step.

If you want to learn about specific systems and checklists used by the pros, I'd recommend checking the book out!

Direct marketing will likely yield the best results. This is where you search for people willing to sell their property. This is the opposite of how homes are typically sold to the average person. Typically, a seller posts their property for sale, and buyers come to them. This causes many people to compete for a property, which is not great for wholesalers. Wholesalers need to get a property under contract for MUCH LOWER than market price.

To find a property under market price, you will likely have to find people who are willing to sell before they list their property. This is done by direct marketing. There are many tactics however, the most common include:
1. Batch texting owners in your town
2. Cold calling owners in your town
3. Mailing owners in your town
4. Driving for dollars
5. Door knocking

If you do any of these consistently, you are likely to find some great deals.

Feel free to PM me if you have any specific questions!

I have heard that batchskiptracing is the best, so that is unfortunate that you cannot get it to accept your list.

I've also heard of https://www.reiskip.com/ . That might be another good one to check out.

Best of luck!

If you are brand new, spend a couple of weeks educating yourself to make sure wholesaling is the strategy you are interested in. I haven't found many books on wholesaling specifically. The best one of the few I've found is "The Wholesaling Blueprint" by Luke Weber. Additionally, J Scott's "The Book on Flipping Houses" is also great. He talks about the typical type of flipping, but most of it very similar to wholesaling.

After that, start marketing and networking with others at BP/REIA meetups!

Direct mail is great, but I would also recommend trying text/cold-calling. These tactics may or may not work in your area, so when you are ready, I would recommend giving them a try and comparing the results to your direct mail results.

You can use the same data that you would use for direct mail. The only difference is that you would need to use a "skip-tracing" service to find phone numbers for the owners and attach that to your list.

Good luck!

That is awesome! Also, welcome to BP!

I'm in the earlier stages of wholesaling. I've sent you a connection request so we can keep in touch and share things we learn.

One "quick tip". If you are trying to learn more about wholesaling, definitely read "The Wholesaling Blueprint" by Luke Weber. I just read it and it walks you through all of the steps of wholesaling.

Personally, I believe in 50/50 partnerships most of the time. You couldn't do the deal without his money, and he couldn't do the deal without your time. Also, if you plan on partnering with this individual long-term, I think a 50/50 will induce less strain on the relationship.

@Brian Walters 
Jeremy's suggestions are great! Also, if you want to take a deep dive into building a team from a distance, I encourage you to read David Greene's "Long‑Distance Real Estate Investing". He describes, in detail, the team members you need and the best ways to find them.