All Forum Posts by: Devin Morgan

It might be easier to find someone you want to work with versus have them come to you.

Just wanted to stop in and say welcome!

You should probably check out the wholesaling section. It's tons of info regarding wholesaling. Also, this thread is pinned to the top How To Build A Buyers List

Impressive. Congrats!

@J Scott books are excellent as well

The Book on Flipping Houses

The Book on Estimating Rehab Cost

@Brandon Turner  The Book on Investing In Real Estate with No (and Low) Money Down

Honorable mention to "Think and Grow Rich" by Napoleon Hill, Not a real estate book, but a pretty good book nonetheless. 

(Not just plugging the previous 2 because they're on BP. I've read all 4 books atleast twice and they're good books for RE.

I almost get uncomfortable when people call wholesaling a cash cow. To inexperienced and people new to wholesaling they get this unrealistic expectation of how they'll have to do little then get this massive return. Can it be a cash cow? Sure, but it becomes a cash cow from feeding it. Generally people that are making HUGE and consistent returns are those constantly pouring money into marketing, cold calling, door knocking, networking, etc. So I guess in a sense any strategy can be a cash cow if you put enough time and money into it.

@Jeff Amore search "yellow letters" or "direct mail" and you'll literally get TONS of hits. I use listsource (a lot of people here do as well) but there's other sites. After tweaking your criteria you can go for absentee owners in certain areas with a certain amount of equity etc. There's countless ways to find buyers and sellers. Sometimes I sit on youtube watching wholesaling videos taking notes.

I haven't gotten my first deal yet but I'm pretty comfortable talking to sellers and feel pretty confident with the help and expertise of others I can close on my first deal when ready. 

As for my biggest fear is time. What if it takes 6 months.... 9 months.... a year to get my first deal. I know it's very well possible that it can happen I just don't want it to lol.

Welcome! It's quite a few people here from the Baltimore area.

I definitely think you should run the numbers by someone or post them here to make sure it indeed is a good deal. Also make sure you have a accurate cost for repairs. You definitely need to know contractors! Eventually you will have to pull the trigger but doing so prematurely can be very costly.

Very true however finding a buyer (if you have a great deal) is far easier than finding a seller. Some people focus on getting a huge buyers list but some usually find they have the same few investors purchasing their deals. It's all preference really but I can tell you if you have a great product, buyers will come.

Maybe I'm backwards but I put more importance on finding deals vs finding cash buyers. And also instead of just wholesaling if there is another avenue you want to explore you don't have to wait, you just have to be able to bring something to the table (time, money, or experience). Being that you will possibly have the deal instead of wholesaling it you can see about partnering up with someone to rehab it instead (that would be the person with the money and experience). You won't walk away with a huge or quick profit but you will walk away with more experience.