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Updated over 6 years ago on . Most recent reply

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Travis Hurst
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I'm a beginner preparing to begin my steps towards wholesaling!

Travis Hurst
Posted

Hello everyone! My name is Travis Hurst, and i'm on the road to beginning my real estate investment journey!

The worry I have is whether or not I have taught myself enough to begin. To start with, the things I do realize that I need to research more is everything regarding paperwork like how to make a proper purchase agreement(I do know that I will have to deal with a title company in Ohio) and where to find a decent real estate attorney. I can find that out with a little more research, but my main concern is that I don't know enough about certain terms or details. 

I know all about the basics, for example terms like equity, expense, income, cash flow, escrow, appreciation, ROI, ARV, OPM,  and other things like that. I also know about marketing campaigns, ie. bandit signs, direct mailing, door knocking, etc. I just learned about the 70% rule and debt-to-income and some other rules of thumb.

All in all, what i'm trying to ask is, are there any important terms and/or concepts that I should really get to know before fully immersing myself into wholesaling? Are there any obscure things that I may be missing that might give me troubles in the long run? Have you heard the term you never know you don't know something until you know it? I am currently held up due to possible lack of knowledge and practice talking, and I don't want to allow myself to eventually get held up due to my fears.

Thank you for reading, and thank you for the help!

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Nicole Heasley Beitenman
#5 Medium-Term Rentals Contributor
  • Investor
  • Youngstown, OH
2,422
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Nicole Heasley Beitenman
#5 Medium-Term Rentals Contributor
  • Investor
  • Youngstown, OH
Replied

Start here: https://www.biggerpockets.com/real-estate-investin...

This will discuss how to navigate your fears. 

  • Nicole Heasley Beitenman
  • Loading replies...