Wholesaling

[Cheryl Nicole London]

What are the things you need to know about wholesaling?

[John Thedford]

If you want to make the BEST money, find a way to buy and hold. The returns will be substantially higher than working as an unlicensed broker. Consider a few things before you decide to start in either arena:
1. If you write a contract, can you CLOSE on them? If not, that is wrong. Don't go into it being deceptive and dishonest. There are thousands of those people on BP.
2. Do you know enough about your market and values to be able to spot a deal? Whether you want to buy and hold or assign, buying right is TOP priority.
3. You will find thousands of people that never made a dime operating as unlicensed brokers. That is a TOUGH way to make a living. One BP poster stated it took them SIX months to do their first deal and they made a whopping 6K. LOTS of work and time...for little money
4. Do you have other options to get into RE? Get licensed? Work for a PM company?  Become a private money lender? There ARE options.

If you have access to money, learn your market, make offers, and start building a portfolio. It isn't fast BUT over time you will have true financial freedom. The fact is, most agents or unlicensed brokers never become investors and will always have to complete the next deal to have income. Now, compare that to having a dozen rentals with 170K a year in rents coming in. Which one would you choose? Once you hit that goal, you aren't truly "rich" but you NEVER have to work again if that is your goal. Can that REALLY be done? Absolutely. Lots of investors make LOTS more than that! It all depends on what you want to accomplish, how much you are willing to invest (time, money, effort, education, etc), and what your goals are. 

With these ideas, the ideas from other posters, start with a goal, develop a plan how to reach that goal, and give it 100%.