New To REI

[Stephanie Burke]

Hello all! I have always been interested and wanted to know more about REI. I never started to pursue learning further until the past year. Fear was my biggest reason why, I work in the mortgage industry and watching the housing market go up and then value go down scared me. Well I decided that can no longer stop me because one of my biggest dreams is to flip houses. I just finished a master class for REI, I am wondering if there is anyone that would be willing to guide me in starting wholesaling? I have a ton of notes and got everything organized but now I'm making myself overwhelmed and I think it's due to researching and reading more and more, feels like I'm doing a constant circle.

Thank you in advance! Anything is greatly appreciated

[Steven Foster Wilson]

Hi Stephanie, wholesaling can be a great way to get started in real estate investing, as it requires minimal upfront capital. It can also help you build relationships with potential buyers and sellers. I would say that you should only do this if you are fully committed to it.

Connect with local investors, Attend local real estate investor meetings, connect with investors on social media, and reach out to real estate agents who work with investors. You'll mostly find them in groups nowadays. Focus on marketing, your primary job is to find great deals and connect them with buyers. This means you'll need to be skilled in marketing and sales. Even consider investing in a professional website, building an email list of potential buyers, and using social media to promote your deals. Crunch your numbers, you need to be able to accurately estimate the value of a property and the potential profits from a deal. This means understanding how to calculate repairs costs, determine ARV, and negotiate with sellers to get the best possible price. Lastly, be organized. Wholesaling can be a fast-paced and high-volume business, so it's important to stay organized and keep track of your deals and contacts.

Hope this helps. All the best to your real estate journey!