I’m gonna start wholesaling but there’s an issue.

[Alfredo Villegas]

Hello,

So I’m gonna start wholesaling (and I’m dead set on doing some flips) but I have an issue... I’m currently unemployed and I just want to know if that would be a problem when getting a loan from a hard money lender and getting a property under contract with a title company.

Thank you for any and all answers!

[Keenan Fitzpatrick]

Yes, it most definitely will unless you have a bunch of assets. A hard money lender worth anything is going to want to see your financials and experience. I absolutely wouldn't trust a lender who didn't. 

I recommend getting a job first. A job as a carpenter, plumber or electrician will pay decent and give you good experience to wholesale and flip. A job at a brokerage will also give you a lot of experience in the real estate industry and give you a lot of good contacts of the players in the biz. 

I hope that helps. Feel free to shoot me a message if you want to chat more.