Wholesale beginner, not sure where or how to start in RI

[Betty Alvarez Cuesta]

Hi, I am a 24 year old Latina-American, grew up in Pawtucket/Central Falls, Rhode Island area my whole life. I'm looking to tap into the wholesaling industry here but not sure how to start. Was wondering if anyone had any actionable advice?

[Anthony Thompson]

Hi @Betty Alvarez Cuesta welcome to Bigger Pockets and real estate investing!

Wholesaling is definitely one of the more common strategies beginners start out with, and this site has a ton of resources about it for that reason.

I'd recommend starting with their wholesaling strategy page but generally, searching bigger pockets wholesaling will bring you a lot of information.

The gist of it is that 90% of wholesaling is successfully marketing to motivated sellers, or people who are willing to sell their properties far enough below market value, that it allows an end buyer to make enough profit for them to take the project on (most of these are rehab projects) and allows you to also make a wholesale fee for finding the deal and bringing it to the end buyer.

Common marketing strategies for wholesalers include direct mail (sending letters or post cards to potential sellers), "driving for dollars" (where you or someone you hire drive around to identify distressed properties), telephone pole signs, Internet advertising, classified ads, etc.

Like I said, there are a lot of resources here on BP about this topic so you should definitely find enough to start looking into some of those strategies more deeply.