Newbie from Southeast Louisiana

[Travis Billings]

Hello BP,

My name is Travis and I'm located in Southeast Louisiana. I've been lurking BP and REI for a while now and I've decided it's time to take action. I've always been drawn to wholesaling and would like to start my endeavors there with eventually trying to buy and hold/flipping. I've listened to many podcasts as well as going through YouTube university so I have a basic knowledge of the wholesale process. Talking with a very good friend who's a successful REI in my area specializing in buy and hold/flipping and is also an agent/broker. He also has a good buyers list and is willing to share it with me. I've came up with a plan and with his guidance, hopefully land my first deal. I have a small beginning budget of $2K. My goal is to be honest with each potential seller and hopefully we all can win.

Please if anyone who’s willing to speak with me about the process I’m all ears. I have my “why” and am eager to start this journey. 

[Courtney Fricke]

Hey Travis, welcome to REI in SELA. I live on the Northshore area and run a REIA there. Would suggest joining a local one or your welcome to visit ours. It'll be a great networking opportunity as well as an educational period. I have done a few deals myself (2 flips - one of which is a live in flip) but also a handful of wholesale deals. I see that you're looking to partner with a local broker. Is it just to build your buyers list? Will you be using him to help figure ARVs? Also, I would start building your own buyer's list but definitely get wait to get started. Even if it's just D4$ then sending mail or calling those home owners. Know who the big wholesalers are in your area. They can be someone you can call if you have a contract and need a buyer. Co-wholesaling can be a good thing. Keep learning. Best education and instruction is when you start doing. Some of the main things needed are: easy to use but good contracts and a good title company to do the transaction. From there, just try to be conservative on your numbers and get good solid deals in areas where people want to buy. Best of luck!