Finding a Niche: Wholesaling? Buy & Hold? Land Investing?

[Alyxaundria Sanford]

As a newbie starting out with no money for investing, I thought wholesaling was the best bet for me. But I've been listening to older podcasts for about a week and a half and learning more about buying and holding for rental income....and the most recent one I listened to discussed the advantage of low costs of land investing. 

I'm in NYC, so I'd probably start out with some virtual investing in my hometown of Cleveland. Does anyone have any thoughts about the best route to take as a newbie with no money AND a virtual investor or if that is even possible?

Thanks!

[Ryland Taniguchi]

Wholesaling land and getting list backs can be a very profitable niche as an agent. Learn the zoning and land use in one niche area. Figure out how to value raw law or tear downs. The challenge is to find builders you can trust and have a long term relationship with. You need to get list backs and that is the challenge.

When working with New Builders, I try to control the entire process... Control the contract, entitlements, funding and then the list backs. I generally don't trust builders till I know them for a long time. The problem in land is circumvention. The way to avoid is to 10x your efforts and dominate your marketplace. Tie up every piece of land in your niche market.

In any case, there is a steep learning curve for working with land. It maybe easier to wholesale flips or apartments. Whatever you do, do ten times more than what everyone else is doing.