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Updated about 1 year ago, 09/06/2023
Advice on Wholesale
Hey everyone!
I am currently in the efforts of paying off debt and getting into rental real estate to receive the cash flow so that I can stop working a W2 job and be able to live anywhere that I want to without worrying about a new job (remote or physical.) To do the debt I am currently working 84hrs weekly. I am on track to have my liabilities all cleared by Dec-Jan, but I'm wanting to also try getting my first wholesale contract done within this timeframe so that I have a little bit of capital. The timeline is due to personal reasons and the reason for trying hard to get my first wholesale profit by then is tied into that, with the amount not even needing to be substantial as it is a big part proving to someone that I can accomplish this goal.
For the question regarding wholesale: I am hoping to receive advice in general for how I can possibly get a contract as quickly as I am needing to. I have the drive to do so, but I want to start getting information and tips for this process as soon as I can and as clearly as I can, so that way I can meet my deadline.
I've looked into it, listening to the podcast episodes about wholesale while at work, created a project proposal with data and rough calculations for personal finance and also deal scouting, and I'm researching every moment of my spare time, BUT: I'm having a hard time with everything going on in my life to formulate the information into a proper attack strategy of "do X, then Y, then Z"
Are any of you able to offer me your wisdom and insight for a basic breakdown of how I can do this? If you also have examples for me to study or scenarios for me to practice, that'd be amazing.
I come from a family of extreme generational poverty and I am trying to break free from that despite life continually handing me setback after setback, struggling with mental health, and now my relationship being on the line when it was the only thing making me happy.
The market I would be in I imagine is my area (Appleton in Northeast Wisconsin) unless remote wholesale is something that someone has good information about and feels it'd be beneficial to my specific scenario here.
Sorry for the long post or if I had over shared, but I want to make my ambitions and reasonings clear so that my extremely difficult timeline doesn't immediately make me seem like I am delusional in the amount of work it is going to be, especially while working as much as I do at my W2 job. It's a deadline that I truly have to meet and is causing a lot of momentum for me starting. It might be improbable but I don't believe it is impossible.
Thanks!