Young Investor needs opinions on where to start. 9 posts by 6 users

Posted: 09/24/2008 at 04:51PM

So I have been into real estate, well any type of investing really, since I was young. I really only started reading books about it, doing research and what not after i graduated highschool. My plan initially was to go to school to be a architect then flip houses once I got my career off the ground, but I only wanted to be an architect to get into real estate. So a couple months ago I came across wholesaling, and I love it. Now I currently have not done a single deal for i learned about wholesaling 6 months ago and tried to studied and research as much as I could to get to where I currently am. I believe I have enough knowledge to at least go out and try to get started, along with all the other real estate knowledge I learned since I was young. I didn't head back to school this year due to financial reasons ( I would still be going to school but I'm currently going broke cause of it LOL ) so my plan is to start out wholesaling, since I think this is a great time to get into the market cause everyone is foreclosing or selling as long as i can find buyers, then move into flipping them myself. Once I get enough cash from that move into condo conversions and try to take my investment company public. There is more info but i'll spare you guys the boring details. What I need to know is where exactly should I start for wholesaling. I am currently in Springfield, Illinois which the market for wholesaling, well let's just face it, SUCKS. So should I move up to Chicago, which can be expensive but I do have friends that live there so I can maybe work something out. I also heard that I could possibly do find deals online in other states is this possible or even a good idea. I have tried to put together deals so far and everything works out accept there are entirely no BUYERS down here. I haven't got a single phone call and i can only found ONE yes one investor. At first i was saying to myself I'm not trying hard enough but now I just think that investors hate this area HAHAHA. ( afters DAYS,WEEKS, MONTHS I GOT NOTHING) anyone have any ideas or advice for me. Thank you

Posted: 09/30/2008 at 07:13PM

Thats what i figured i am going to do now. Fact is the market is hurting now and i don't have that kind of cash to be a big player in this day and age. So i figure i'll finish school in the next 2-3 years and start trying to get deeper into investing after that.

Posted: 09/30/2008 at 07:42PM

If there really aren't any regular buyers than stick to wholesaling to investors. I'm pretty sure there's more than 1 investor in your whole town. Have you put an ad on craigslist, backpage, and a newspaper or two like the books say to do when looking for investor buyers?

Posted: 10/01/2008 at 07:35PM

It hurts to hear that you can get sellers on board, but not able to assign it to someone else. Have you tried letting people know in this forum if they're able to find you a buyer that you'd be willing to split the profits? Just an idea, because 100% of $0 =$0.

Posted: 10/02/2008 at 02:13PM

Thank you for the reply. Springfield does have one, but i am rarely there i stay wih my friend and his parents (free to stay so why pay lol ) when i'm up in Chicago. I will deffinitely start heading to some REIA meetings to get some more real estate education.