Newbie Looking for Help

[Jimmy Marchesano]

So I have been researching on Flipping Homes / Wholesaling, and I am very interested in starting this. I get the whole deal of finding deals, marketing yourself, and turning the property over, but where I am stuck is finding investors. Does anyone have any tips on how I can find investors. I have already asked around (Unfortunately I do not know anyone who would like to invest in RE) posted things on Facebook / Twitter.

[Ann Bellamy]

@Matthew Reed , if you are looking for wholesale deals, I think I'd save my money. You made me curious, so I went to myhousedeals.com and chose Boston because that's my area.

The first listing was a townhouse in Gloucester MA listed for 440K with an ARV of 470K, noting no repairs needed and a profit potential of $30K. Really? A $30K spread between ARV and purchase price equals 30K profit? I don't think so.

It was easy to find on MLS because of the exact square footage and style. MLS reveals it's been on the market for 110 days, with a starting price of $489,900. And hasn't sold. A wholesale deal? Not by any stretch of the imagination. It is listed as a short sale opportunity, but the mortgage balance is $182K. Short sale? Not likely.

I didn't go any further, and don't want to hijack this thread, because Jimmy is looking for help finding investors, but I just had to point out that wholesale deals are not typically found on "wholesale listing sites".