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Updated over 4 years ago on . Most recent reply
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Real Estate Wholesaling
I am 19 from Houma, Louisiana and in college right now for business finance looking to start my real estate hustle. I have about 2000 dollars and really want to learn how to make more from investing. I have no experience in real estate and I do not see myself working for other people forever. I love the idea of wholesaling to start off but have no idea on where to start. I have been researching and listening to podcasts for the past couple months.
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Hi @Cullen Duplantis . I am both an investor and managing partner of a local real estate brokerage in New Orleans. I've been in the REI game for about 10 years and licensed for about 7 years. Welcome to BP! You've come to the right place to learn anything and everything about real estate investing.
Be sure to check out the "education" tab at the top. Lots of great resources there. A good place to start is with the free guides, such as "The Ultimate Beginner's Guide To Real Estate Investing". The bookstore has some great books and the podcast is full of valuable information.
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See here for the Guides: BP Guides
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Check out the local chapter of the National Association of Real Estate Investors here: https://www.neworleansreia.com/
Here is an ongoing discussion thread on wholesaling that has anything and everything you'd like to know about wholesaling: The Truth about Wholesaling! (It has been going on for 8 years and has over 800 replies, so just about anything and everything is in there somewhere!)
To begin with wholesaling, you will need to first determine which type of seller you want to focus on and then decide which way you will attract those sellers. You will need to do some form of marketing and that usually depends on your individual situation. Do you have the time to do the legwork yourself, or do you have the money to pay someone else to do it?
There are two ways to go about marketing/advertising your business...
You can go a mile wide and an inch deep, which would be marketing large scale such as blanketing an entire neighborhood with direct mail, door hangers, etc. This can get very expensive, very quickly.
Or you can go a mile deep and an inch wide. This would be very targeted niche marketing focusing on one or two particular niches. This is typically the best route to go for small companies with limited marketing budgets.
Check out these posts on BP:
The Ultimate Beginner’s Guide to Real Estate Wholesaling
The Definitive Guide to Real Estate Wholesaling
A 60-Day Action Guide to Wholesaling Your First Property
The Newbie’s Guide to Wholesaling in 7 Simple Steps
The 8 Most Common Lies Newbies Believe About Wholesaling
Introduction to Real Estate Wholesaling | BiggerPockets Podcast #91
5 Costly Pitfalls That Catch Wholesaling Newbies Off Guard
Check out these books:
If You Can't Wholesale After This: I've Got Nothing For You
The Real Estate Wholesaling Bible: The Fastest, Easiest Way to Get Started in Real Estate Investing
The Art Of Wholesaling Properties: How to Buy and Sell Real Estate without Cash or Credit
Everything Wholesaling: The Ultimate Guide to Wholesaling Real Estate
Best of luck to you and happy investing!