A knowledge-thirsty, newbie wholesaler from Pittsburgh, PA

[Nastassja S.]

Hello BP!

My name is Nastassja and I'm a newbie wholesaler-wannabe dwelling within Pittsburgh, PA. The first thing I want to say is that I'm so thankful this community exists. Honestly.

Let me start with my background. Following my parents advice, I went to college...over and over again. I ended up wracking up debts for a degree that would never pay it off. It was stupid - but that was all I knew about how the world worked. You go to college. Get a 9-5 job. You live meagerly paying off debts for 10 years. Then you're able start working towards your retirement. I didn't know anything else back then. $80k later, I've got a degree in culinary. The average rate of pay for food service is $10-14/hr. It wasn't even close to worth it. 

Up until a week ago, I had been planning on how I could get myself out of this mess. I looked up difference positions, higher salaries, the college degrees I would need to obtain those salaries -- and all of a sudden, my mother invited me to a seminar -- a Yancey: Boots on the Ground seminar. I didn't know what this was at the time - she only told me it was a 3-day intensive real estate seminar. She tried to explain that she found a way to help me pay off my debts so I can actually have a financial future. She gave me no names, so I could not look it up (and I did badger her to tell me). It was in those classes that I had found out she had paid $30k to take them and I could not tell you how angry I was when I heard this. 

ANYWAY, regardless of her decision to spend money she didn't have and will now owe, and the questionableness of the price-to-information ratio the seminar held, the seminar actually did provide quite a lot of information I had never known about REI before, and the potential returns did interest me quite a bit. So much so that I happily quit my meager $10/hr job to try this career out. My mother and I started a team including one other person, but if I can close even ONE $500 deal in a month, I would have made my ENTIRE paycheck. But I have much bigger goals than just that...

Although I own no properties, and I don't have any sort of background in real estate investing, I am a non-stop learner. And as long as there is information on the internet, and educated/experienced mentors willing to share their knowledge and experiences, I know I can succeed in this. That expensive seminar still let me with way too many questions that they refused to answer, and even though there is a "mentor-hotline", they often leave me feeling like they are just trying to sell me something... 

So that's what brings me here to the great people of BP. I look forward to learning every detail there is to wholesaling from those of you who have dabbled and mastered it, and gradually reaching a point to flip or hold.

Till next time!

[Paul Timmins]

@Nastassja S.

Welcome. Time to build the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

Couple good reads 

• 9 Reasons You Couldn't Find A Buyer For Your Wholesale Deal
• Don't Start Wholesaling Until You Read This: Wholesale Advice from a Fix and Flipper
• How to Start Wholesaling: Getting Past The Education and Into the Field

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good luck

Paul