Updated over 8 years ago on . Most recent reply
Purchasing From Wholesalers
I'm just getting started in real estate investing. I've been wanting to do it for the last 20 years, read hundreds of books and listened to hours of podcasts. Now I'm in a financial position to make this happen. I work a highly demanding full-time job so I don't have a lot of time to put into everything in the beginning. My plan is to rapidly purchase rental properties and eventually replace my salary with passive income. I've been to REIAs and have had numerous wholesalers approach me. It seems like buying from wholesalers is the best situation for me because of my time constraints and they would probably beat me to any good deals anyway. Is it a feasible plan to buy from wholesalers with the plan to rent the properties and still achieve cashflow? Or do the wholesalers take all the profit out of the properties? I realize there probably wouldn't be a lot of cashflow, but I'd be happy with a couple hundred dollars on my first deal. I'd appreciate any advice.