All Forum Posts by: Miller McSwain

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.

If your goal is to be an investor, I think you can do either. If you want to purchase your properties on your own (without private investors), then you need to earn capital. You can really earn this from any source (W2 salary, wholesaling profits, agent commissions). However, some capital earning endeavors may help you learn more about investing than others.

Becoming an agent will give you some insight into the investing world. You may end up working with some investors and making connections with them, and you will learn a lot about the buying and selling side of investing.

If you are willing to hustle really hard, then I think wholesaling will teach you the most. However, it will take a lot of work and time spent on education. Wholesaling will naturally connect you with other investors since that is who you will typically be wholesaling to. This will create a network of people that you can learn from. Additionally, a large part of BRRRR is "rehab". Most of the investors you sell to will likely be flippers. If I were trying to learn BRRRR, I would offer a wholesale deal to a flipper you work with, and ask if you can shadow the rehab process.

Ultimately, being an agent and wholesaler can both produce capital to help you invest. Personally, I think wholesaling will teach you more, but it is also important to consider how much time and work it will take to break into the wholesaling game successfully. I would weigh that against the time you have already put into becoming an agent (and the time it will take to become a successful agent).

Yes! Properties that are 4 units or less (single family, duplex, triplex, quads) are able to be financed with an FHA loan.

For more details on financing options, check out Brandon Turner's "The Book on Investing in Real Estate with No (and Low) Money Down".

It is awesome that you are thinking ahead!

Practicing deal analysis is a great idea! Running the numbers on properties in your next market will help you quickly identify great deals when you are ready to move.

Continuing your education is great, but there are some action steps you can start taking before moving.

I'd also recommend searching for team members in your new market. You can go ahead and make a list of good agents, contractors, property managers, lenders, etc. Also, it would be great if you could narrow your list down to a few of them that are going to fit best with your strategy.

I'd recommend:
1. Going to BP/REIA meetings and talking with rental property investors and asking if they would like to be brought deals.
2. Searching Craigslist/Facebook marketplace for owners looking for tenants, then contact the owner. I would be upfront with them. Tell them that you are not looking to rent, but ask if they would be interested in being brought any deals.

Many investors will probably want to be added to your list, but most of them won't ever purchase a deal from you. If you have enough investors on your list, then you should find some consistent buyers!
 

Good luck!

"The Wholesaling Blueprint" by Luke Weber is great! It thoroughly walks through the steps of wholesaling and doesn't try to sell any courses!

I'm planning to start a cold calling in January, so I'd like to see what people think about your issue.

What was your source for these phone numbers?

I don't think receiving calls on the weekend is much different than receiving a call after work.

People may be busy on the weekends with their families, but at the same time, some people may be busy after 5pm during the week if they are the type that works late.

You are going to encounter upset people regardless, so I'd rather get more find calls in, regardless of the day, and reach more potential sellers.