wholesaling

[Brenda A.]

I am brand new to REI and I attended a 3 day seminar in late Oct. I left there very fired up and excited and ready to jump right in. I immediately approached a couple of friends of mine that are real estate agents to help me by getting the MLS, REOs and distressed properties to me from the areas I'm interested in working. My problem is that my personal credit is terrible and I have no idea about what I should say when approaching a private lender or a hard money lender to fund a property I want for wholesaling or possibly renting.

[Joseph Ball]

Um, not too sure wholesaling is where to start. It is a little sophisticated and you need a reputation, to impress investors. Why would an investor trust his money to a NEWBIE?

I think you should first concentrate on education. Local REIA, books, etc. Then buy something for yourself. Then, you will have a story.

You need a "story". "I bought this and here is how I did,"

Since a Realtor's job is (usually) to obtain the highest price for his seller, I am not sure that is the best place to buy. Anyone can buy from MLS or from a Realtor. What distinguishes you? What sets you apart? In time, it will be your knowledge and experience.

Right now, I suggest you concentrate on knowledge.