I’d love to be wholesaling but I live in Maine about halfway up the state on the coast. My local REI club is 2 hours away in Portland the biggest city in maine. I do attend it but the guy that heads it told me that my area is not good for wholesaling because of a lack of investors that I’ll be able to wholesale properties to.
Anyone have any feedback?
At this point I’ve been repairing my credit to possibly buy something with conventional methods.
I’m 22 by the way, broke, and my credit sucks. I wish I could afford a mentor haha.
-Daniel
So anyone have any feedback about wholesaling or RE investing in general in remote areas w/ no cash/credit?
Why not search for deals in Portland? Many investors do their work out of state/ where the opportunity lies. Don’t limit yourself to your locality, but know where you’re going to buy and the local laws in that area. Find investors in Portland, ask them what they’re buying and where and then go out and search for them. You’ll have to get creative about searching for them but it is possible.
If there is no REI Group in your area then do what I did…start a new one in your community! Can’t tell you how much fun it is and how fast its grown in our 6 months.
Nate-WI
That is a great idea! The closest one to me is ~80 miles away. I would love to begin group from around here. How did you go about doing so if you don’t mind me asking?
I ran an ad in the paper. It read…Starting real estate investing group, call for more details. The phone rang and rang. I called the Milwaukee RING investing group down there and talked with their executive director and he helped me out with everything and pretty much got me going. Word is spreading and we are getting more and more attention from the local community. We now have a website as well. foxvalleyrealestategroup.com
Check it out and maybe you can snag a few ideas off it.
Nate-WI