WHOLESALING STEP BY STEP

[Vanesha Bowden]

Hello everyone, I am new to real estate investing . Do anyone have any advice on what to do to start wholesaling?

[Shawn Ackerman]

Hi @Vanesha Bowden Wholesaling involves some basic skills steps.

1. Identify a market you would like to work in and can locate motivated sellers.

2. Begin analyzing deals whether buy and hold or flip deals.  Understand what constitutes a deal in terms of the numbers.  Why it is very important to get property under contract at 55-70% on the dollar.

3. You'd want to understand how to talk to a potential seller.  What questions to ask when you get a motivated seller on the phone.  You'd also want to decide which type of seller you want to attract i.e. equity, tax delinquent, absentee, code violations etc... And also figure out your way to attract the seller i.e. mailers, website etc..

4. Understand an offer to purchase contract and an assignment contract language.

5. Find a title Co. that understands this business model.

You will undoubtedly fail!!! As I've done and so many before me but it is like a muscle, after you fail so many times you will learn and recover.  I'd suggest becoming versed in the real estate law in your market of choice to see what the boundaries are in terms of marketing and or negotiating a sale of a property that you don't own.  

At the end of it all what separates the do'ers from the talkers is hustle!!!  Always remember to persist and you will WIN!!!