Just joined this forum today. I am a beginner in Real Estate Investing. I have been doing some search on the internet on wholesaling. I am quite intrigued. I have no clue about real estate investing. So just seeking advice from all you pros.
What is a good beginner’s book to read on wholesaling/real estate just to get the know-how.
What skills do I need to do wholesaling? How competitive is it? I am presently in GA, but will soon be relocating to AZ.
3.I have seen on TV and on the internet, the real estate gurus trying to sell their program? Any suggestions. I am quite impressed with the reviews on Chuck Smith but since it is an expensive program, I would like to know if anyone of you have used it and if it was beneficial ?
or any other programs that you might suggest
I would highly appreciate your suggestions and help. I hope to make some friends here.
Hello,
I’m in Austin TX and my clients say AZ is a great place to invest.
As an investor’s Realtor, 95% of my clients are investors and own properties in AZ,CA,and TX.
Most are doing 1031’s to get their money into Austin.
I’m not aware of the wholesale process since naturally, all of our
transactions are through my broker.
Steve Cook has a good program at www.flippinghomes.com…William Bronchick + Robert Dahlstrom’s “Flipping Properties” is an excellent book as well! Hope this helps!
And then go and view the free articles available here as well.
The book mentioned earlier by William Bronchick titled ‘Flipping Properties’, is a great book to give you the basic understanding about wholesaling properties. Flipping and wholesaling are pretty much one and the same idea. Purchasing a property 65%-70% of the FMV and sell it to another investor to make a reasonable profit as well as leaving him room to still make another profit after he rehabs the property and sells it for the FMV OR you can assign it to another investor for a quick fee. That is pretty much it in a nutshell.
As far as Texas goes I have never been but there are fixers everywhere, but it is a matter of finding them and making sure the numbers make sense… Its all about the numbers making sense If the numbers dont make sense you will be stuck with every property you purchase…
Phoenix has great prices for owner occupied properties, but as far as buying and renting most of the deals are already gone, because the true REI’s got in and out while the getting was good… From what I have read and heard, vacancy rates are somewhat high because of the low interest rates and everyone going from renter to owner… BUT, there are still wholesaling opportunities available… its just a matter of finding them, cruching the numbers and making an offer and ensuring there is room for the next investor…
If you are interested in learning without spending all the extra money send my a private message and tell me a little about yourself…
I gave my kids new books and sent them too school! (THEY CHEWED THE COVERS OFF THE BOOKS,AND PLAYED HOOKIE FROM SCHOOL) The moral to my story is: There are more books than you could ever read out there! Every one has the best book! This forum will teach you more than most books and courses you could ever buy!
Spend some time reading the replies and Questions before you spend too much of your money! If you cant find the answer to your questions, you just dont have the right question!
HI there. I am new as well and I read “Buy it, Fix it, Sell it!” by Kevin Myers and I feel I got most of the info I needed to get started. He touched on everyhting I expected. I read the table of contents of many books before I bought and this one seemed the most “complete” to me. However, if you read all the stuff on this forum. YOu will get addicted to this website! Any possible question you may have has probably been answered, and if not, you can ask it and it will probably get answered. This forum is unbelievable!
With all due respect to all those that have purchased those courses… My question is, when you have a question regarding a deal, a buyers credit issues, entity questions, taxes, etc, who can you call? Does some type of support come along with the purchase of these courses and if so, how much? I believe that is the biggest issue with these courses in the eyes of the new investor… Does that make sense? And again, I am not talking ill of any of the courses out there…
I look forward to hearing from those who have purchased…
I was just going thru the Steve Cooks site for his courses.
What i have found is that all his courses have same price and same contents(atleast on the website) but with different names.
just want to confirm with anybody who has taken his course whether all these are same course or they are different courses???
Interesting … good thread … I’m trying to make some determinations myself. In that I’m new to the RE game.
As such … visits to loca REI Club, reading forums posts, and the like. Have led me to the conclusion that flipping/wholsaling is probably the best way for a beginner to get into the game.
Foreclosures requires much more knowledge and has more risk. Lease options was my second choice. Buy & hold comes later, perhaps.
I’ve contemplated rehab somewhat. Thought perhaps that might be in the offing once get wholesaling down. Since rehab – to me anyway – appears a natural extension so-to-speak.
Having said that, I now must select from a myriad of courses available in the flip/wholesale arena.
I pretty much had it narrowed down to two . . .
So … what say you about Chuck smith and his $897 “Quick Cash Ultimate Real Estate System?”
What say you about Bill Bronchick’s $397 “Flipping Properties: How to Generate Fast Profits in Real Estate?”
Not implying these are the end all … just the two I’ve selected to make a choice from. Looked over Steve Cook’s version and found it seemed almost as good.
Lastly, anyone have experience with the courses above? Relative to access to author’s willingness to correspond with the buyer of their course as the beginner progresses from course to actual action in the RE market the courses cover.
This got long, sorry about that, typing extemporaneously will do that.
