Fork in the Road..to Wholesaling or to Flip?

[Michael Schaeffer]

So I sit here another aspiring real estate investor. I started with some seminars years ago, and very regretfully did not continue pursuing RE. For a few months I have immersed myself in podcasts, blogs, and books, soaking up all the information I can. I’m now extremely eager, but I'm still left wondering what direction to go. It's not lost on me that there are perhaps countless posts by new members traipsing in aimlessly, seeking a magic bullet, perhaps even asking this very question.

But today I find myself slightly discouraged. I've spent months trying to get acclimated and to gain some momentum as to the direction I should be heading. I listen with open ears and I have been focused on pursuing wholesaling. Then today I read some negative posts here that were rather derogatory about wholesaling, referring to wholesalers as unlicensed brokers and some other negative connotations. I can understand that when a seasoned investor hears a newbie say "I want to be a Wholesaler", it tends to elicit pretty strong opinions. Every new investor wants to be a wholesaler it seems, myself included, and I see where that might be annoying to some. I realize that it's a very time consuming niche that requires hard work and persistence.  Many of the podcast that I listen to emphasize professionalism and the positive aspects wholesaling can provide for all involved parties, including the sellers. I'm feeling the mixed messages.  

Having said all that, I am very interested to hear from some people that have some time in the game. The people who perhaps started with no working capital of their own to speak of. To hear from those who started with less than stellar credit situations. My question to those people is if you were starting today, and you were starting with nothing, in which direction would you head? Where would you focus your efforts? It seems to me even as a new guy, that Hard Money is plentiful right now. I too would like to build long term wealth. I recognize the benefits of passive income and a nice portfolio. I see that for myself as well, in due time. I have no illusions of getting rich quick. What I do want to do is supplement my income and in a relatively short time frame, figure out how I can best use real estate to bring in cash sooner than later and to make this a full-time career. I'm interested to see how many people would advise against starting in Wholesaling and instead recommend flipping properties as the better course of action.

Thanks in advance !

Mike