Wholesaling for Real Estate Rookies?

Question

Is wholesaling a viable option for entering the real estate field? I've come across mixed opinions... Wholesaling requires a solid understanding of the market and accurate rehab estimating, but it also has a relatively low barrier to entry. As someone who recently graduated with a degree in construction management, I'm curious to know if wholesaling could serve as a suitable entry point into the real estate industry. I currently work as a residential/commercial project engineer so I am familiar with the rehab process.

Corby Goade · Answer

There's no "wrong" way to get in to real estate, but contrary to what you'll hear from the people selling you mentorship, it's far from easy.

If you are looking for a career in real estate and want to get started investing, why not just get a real estate license? There's billion dollar companies and infrastructure set up to help agents be successful, you just need to tap in to that.

In addition, wholesaling generally exists in a grey area, legally speaking. There's defintely a time and place for it, but you can slide right in to a much more simple structure as an agent.

Richard Loniewski · Answer

That's how I started, didn't have the capital to do a flip or buy a rental, quick turnaround and little risk. You do have to become good at deal analysis so work on knowing your numbers. Start building a buyers list. If the deal numbers are good you will have no problem wholesaling it!

Eliott Elias · Answer

Wholesaling is one of the best ways to get into real estate. It takes little real estate experience, and a lot of hustle. You don’t necessarily have to be spot on with your rehab estimates, leave that to the investors. The biggest value you bring is finding a property significantly under market value.

Lydia R. · Answer

Wholesaling is not the get rich quick scheme its marketed to be. You are absolutely right about the amount of industry knowledge required to be successful and the low barrier to entry. Anyone can wake up tomorrow and decide they are a wholesaler. But as quick as they get in they quit because its hard work.

I think with the amount of construction knowledge you have you should be flipping houses because you have the knowledge and the skill set to do it. You can always wholesale the deals that dont fit your criteria but there is no reason you couldnt be flipping houses since you have the know-how! Dont sell yourself short!

Wholesaling for Real Estate Rookies?

Most Popular Reply