Flipping questions from a serious investor

[Jason Callahan]

Hi BP Community!

Happy Thanksgiving All!

I have inherited a large sum of money, mid six figures. I want to change careers and become a full-time REI. I have a few questions that maybe some experience flippers and wholesalers can help me with.

1. Should I get my RE license and become a broker? I have no interest in selling other peoples homes. But would it help me in a flipping and wholesaling career?

2. Is it best to generate your own leads through direct mail, networking and D4D or depend on wholesalers and MLS?

Thats it for now. 

Thanks 

Neil

[Manolo D.]

Mid 6 figs is 500k more or less, correct? For some reason, some people interpret it to be 150k. Big difference. When someone inherits money, they get shocked and go into the state where they feel the need to spend it. I suggest let the dust settle in and keep your job for 2-3 more years and slowly learn RE. I've heard some really good articles about "be the bank" type of investors. Wholesalers and other types are sometimes costly, or time consuming, or talent dependent. You can do flips, it's risky than being the bank though.