:huh :huh :smile hi me & my husband are new to this just getting started. We are looking to start out doing wholesaling then work our way up? We are looking for a coach in our area to help us along the way hopefully we will have luck with that. What we would like to know is do we need to find a business name first? Then a building to work out of? Or what do you suggest? How did you all get started in this business? :huh :huh
Well wholesaling can be a good investment method for life, you can do extremely well wholesaling for a career and can buy rentals with some of your income. I don't know what area your in, but check to see whether you have a REI (Real Estate Investor) club in your town or city or check on meetup for real estate investor groups where you might find an experienced investor who would take you under his or her wing and show you the ropes.
You don’t need a business name right away and can work right from home, although you will need to meet the seller or buyer you can accomplish this by meeting at a local restaurant and will need to show the property at that location.
I was brought up by parents who were aggresive real estate investors and starting teaching me at a young age, my mom was a real estate broker and my dad a developer so they were very much involved in real estate and were my best mentors and critics!
:smile thanks so much for the information. I have a lot of information just went to a fortune builder seminar & it was very help but I been trying to look for a coach before I start anything just to make sure I’m doing everything I need to do right. At least until I have got the hang of it. I’m in nc near the Charlotte area so I will try to find some rei club so hopefully I can get started in the next month or so. I’m very excited bout doing this. You were lucky to have your parents already in the business.
Hi Mrs. Leary, welcome to the wonderful world of Real Estate. Wholesaling is a very profitable and relatively simple kind of RE that you can do. I suggest you and Mr. Leary learn as much as you can and explore what kind of RE you’d like to do. You are bound to find something that will work best for you especially if you are driven to succeed in this business. If you are decided on wholesaling, there are plenty of materials out there that you can learn from. Participating in these kinds of discussions is also one of the best ways to learn from people who’ve done it and became successful. And no, you don’t need a business name right away. I think the most important thing is for you to take action after you have gathered some education. Experience should teach you best.
That’s what we have been doing but I just feel like we need that guidance from somebody just to make sure we are going down the right path. We went to a fortune builders class a couple of weeks ago but of course to get a couch wih them was a little pricey. My husband was telling me that he heard do ghost ads were a good start to build your client list up then when you do get a house you already have some possible buyers or go to the clerks office to gather info there?
Ideally, you would want to look for a property first. Look for properties and talk to the homeowners about it. Once you have done research on the property, gotten the seller’s motivation and done some negotiations until he agrees to your offer, it should be easier to find a buyer. Buyers prefer properties already under contract. But if for any reason, you like it doing the other way around and build your Buyer’s List first, there’s a few things you can do like…look for “We Buy Houses” ads in your area and call them, go to your local title company and see if you can get a list of leads, network with mortgage brokers and real estate agents and get serious about about attending your local REIA meetings. The key is to build relationships with all these people and have a network that are willing help you and refer some good leads in the future.
It all depends on where you are in your journey, if you already have a potiental home that you are looking to wholesale, get it under contract and don’t waist no time. If you are still looking for a motivated seller, build your list right now so you will be ready and flip it quick. :beer