Chicago Newbie

[David Danforth]

Hello, my name is Dave Danforth and I live on the northwest side of Chicago in a suburb called Elk Grove Village. I come from a sales background and moved back to the Midwest from Florida in mid-2010. I would like to leverage my sales background by becoming a wholesaler to augment my current career.

I have over the past several years been a part-time real estate investor by rehabbing 2 properties while I lived in the Orlando-area. When I moved to the Chicago-area I rented 2 years before I purchased my current home last August and have reached a point where I would like to initially become a wholesaler and then work on developing some investment properties.

I ran across BiggerPockets a few weeks ago doing a google search and have hooked ever since. I consider it to be an excellent source for real estate education and I look forward being involved with this community.

Dave

[Wendell De Guzman]

Hi Dave, welcome to BP.

I am a volume wholesaler. Good choice of where you want to start in real estate.

In my podcast, I said that wholesaling is good because it teaches you how to find good deals. The deals that good wholesalers find have to be not only good enough for a rehabber but there has to be a wholesale fee factored into it as well - which means wholesalers need to find awesome deals. 

If you don't have an awesome deal, everything in real estate becomes useless. I don't care if you're the best rehabber but if you have no property to rehab, you're not in business. I don't care if you're the most organized landlord but if you have no property to lease and manage, you're not in business.

Wholesaling focuses you on doing one thing well - finding good deals. When you find a good deal, selling it becomes the easy part. 

Listen to my podcast - http://Biggerpockets.com/show65

You can also follow my "wholesaling journey" - I reveal to the BP Community what happens to my wholesaling business every single week. Here's the link:

http://www.biggerpockets.com/forums/223/topics/121...