Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago on . Most recent reply

User Stats

5
Posts
2
Votes
David Sanchez
2
Votes |
5
Posts

What do you think about this fast route in becoming a full-time investor?

David Sanchez
Posted

Hi, everyone!

Lately, in real estate, I've learned that it's important to identify your goals, and my goal is currently making money reasonably fast to be rich, not wealthy. So the best strategy for me would probably be to fix and flip I presume.

So far as a new wholesaler, I've been cold calling for about 2 weeks and have met with a seller already, and I want to do fix and flips later on. But now that I've experienced how to wholesale, I think it's faster to get more income with a sales job and invest earlier. So here's the plan in my head, get a sales job, get enough money to invest with hard money and get deals with my wholesaling and sales skills, and eventually quit my sales job to become a successful flipper and then eventually invest into other passions of mine. 

I think for everyone time is valuable and I would love to get your feedback to know if this is a fast route to investing in real estate with the advantage of having wholesaling skills or even a team.

Most Popular Reply

User Stats

4,144
Posts
3,824
Votes
Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
3,824
Votes |
4,144
Posts
Jaron Walling
  • Rental Property Investor
  • Indianapolis, IN
Replied

@David Sanchez Welcome to BP and welcome to your future! I agree with some of your post but you're making assumptions that some novice investors make. They think they can invest with ZERO DOLLARS and make big jumps. In reality that's completely false. REI requiring skin in the game or creative sacrifices.

Wholesaling is for the birds. That's just my opinion. Too many people think they can do it without every "owning" or remodeling property. It becomes a problem for other investors and sometimes burns motivated sellers. Nothing wrong with wholesaling but it shouldn't be you're only form of income when starting out! I strongly agree with finding another "normal" sales job. It doesn't have to REI related but you need income to become bankable and to buy RE. The only goal is buying opportunities and OWNING ASSETS. If you continue wholesaling you don't own assets. You can't capitalize on all the benefits of the REI pie.

It's one step at a time to achieve one goal. Two years before buying RE I was working two jobs, sold a motorcycle, and paid off my car. After that I bought the cheapest distressed SFH I could afford. I made like 5 LOW BALL offers and one finally stuck. My younger brother moved in with me. I was house hacking and remodeling the place at the same time. It was a nightmare but 6-months later I went from sitting on the sidelines watching house, after house, get remodeled, flipped, or sold to other investors to owning a property I flipped and could sell, rent, cash-flow, or continue living there for cheap. Develop this mindset and match it to your market. From a novice prospective that's how you fast track REI.

Loading replies...