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Updated over 6 years ago,

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Steadman Short
  • Nassau County, NY
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Beginner looking to start Wholesaling in 2 different states

Steadman Short
  • Nassau County, NY
Posted

Hi everyone,

 My name is Steadman, I'm twenty-eight years old. I am new to BiggerPockets community, currently living in the Nassau County area of Long Island, NY. I am originally from Greenville, SC.  I currently work full-time as a teacher in NYC. I am looking to get out of the rat race, and possibly begin a new career path by making an additional side income, while partially investing my current savings into real estate. We all know holding money in the bank or a retirement plan is not a great return on your money/investments. 

I've been interested in Real Estate since high school, but as of March 2018, I finally invested in Cody Sperbers Fast track system and M5 marketing system. While taking pages of notes from his training, I also began watching countless hours of youtube videos by many "so-called"  real estate gurus. 

I've recently reached out to a friend of mine that became a real estate agent about two years ago in the Greenville, South Carolina area. He is willing to join my team. I have a family member that is a mail-man, in the Piedmont/Mauldin area (not the popular "Powdersville area"), who wants to join my team. My agent has some connections to contractors (possible cash buyers), cheap soft inspector, and a closing attorney. How can all of us combined be of value to the team while being as cost-efficient as possible? 

I want to start off virtual wholesaling in Greenville County, South Carolina because I have these contacts, know the popular real estate rehabbing areas, and feel most comfortable starting in this type of market there. However, I'm only in the state about 2-3 time a year since I live in N.Y now.

Most sources tell me to focus on one market first, which in my case would be SC. But, I am too far and don't know how I can bring great value to my team. I could try starting on Long Island, NY (Nassau County area) but I feel somewhat intimidated to start out in a high-end competitive market without experience. Many New York contacts (only a skilled handyman) vs. SC contacts, or mentors to help me get my first deal when most houses start in the 350k+ range in this area. 

I would prefer virtual wholesaling in SC first but feel as if I'm held back from "hitting the ground running" in SC because I am physically not there as often, which forces me to search for a trustworthy and reliable team in the area. This seems to be of greater risk than NY.

This decision is causing me to become stuck in this "analysis paralysis" stage, like many others, which is very frustrating...

 Any advice from experienced investors on what I should do next? Which area is better?  How can I be of value to my agent, mail-man, and others in SC while not actually being in the state on a consistent basis?  Or should I just find a meetup group in Long Island to find mentors and other contacts in NY? Also, have any BP members used Cody Sperber's M5 marketing machine, and if so, what are your thoughts? Any other feedback would be greatly appreciated. Thank you! 

*(These might be silly questions but like I said before I am just starting, trying to make my first deal while making the best decision with the least amount of mistakes) 

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