New to Real Estate · Long Island, NY · Member since 2020 · 7 posts · 0 votes
Hi,
My name is Suraj, I am 19 years old, located in Long Island, NY and looking to get into wholesaling real estate. I have been trying to wholesale on-market properties virtually for about a month now and have had no luck. I am now looking to shift to off-market properties in Long Island but not sure exactly where to start. I was looking for some advice on how to get started as a wholesaler. Let me know!
Lender · Chicago, IL · Member since 2013 · 82 posts · 27 votes
5y
my advice... don't
Save as much money as you can, buy a house to house hack even if you just rent out the bedrooms, it is something and start there instead of wholesaling.
Wholesaling has to be one of the hardest ways to start, you have to know how to market, find the off market property, understand what the cost of repairs that are needed is, understand the market, the after repair value and then market for a buyer.
New to Real Estate · Long Island, NY · Member since 2020 · 7 posts · 0 votes
5y
Appreciate it Rob! I like your idea of buying and renting out a house but how much money do you think I would need to start out? I'm guessing I would need at least 10-20k as down payment. Is there a way I can make that amount with a low budget of around $500?