Exploring Wholesaling: Seeking Tips for Finding Motivated Sellers on budget

[Account Closed]

Hello,

I'm a newcomer to the world of wholesaling and I'm eager to kickstart my journey, even with limited initial funds. To set things in motion, I'm on the lookout for motivated sellers. Could you guide me on the most cost-effective methods for achieving this as a beginner? Additionally, I'm seeking advice on locating potential buyers. What would be the most budget-friendly approach to achieve this goal?

Additionally, I'm eager for guidance on identifying potential buyers. What cost-effective approach would you recommend to achieve this goal?

I would like to establish connections within a community of individuals through informal coffee meetings or virtual Zoom sessions. Could you provide any information about meetups taking place in the NYC area that align with my interests? Your assistance would be invaluable as I take my first steps into this venture. :)

Thanks, 

Janet

[Bryce Jamison]

Wholesaling is a bit of a paradox. It's what many new investors want to jump into because they have lots of time and low capital. You need to know where to find and how to get undervalued properties under contract and have loads of buyers lined up for all the different property types and locations you acquire. The problem is when you're just starting out you don't have these things. The people who know where and how to find these deals and know buyers willing to buy them are the ones with tons of experience and enough capital to where they don't need to wholesale. Obviously newbies can do it, but I'd guess 95+% stop before ever making a deal. I'm by no means trying to discourage you! I just want to share what I've observed.

If you're serious you need to start meeting as many buyers as you can at meetups, through BP, and word of mouth / self advertising. You'll also need to convince these buyers you're a real player because we've all had numerous people give us their wholesaler pitch then never hear from the again. You'll also need to be ready for weeks, or months, of hard work and phone calls before you ever make your first deal.