Wholesaling

[Juan Rodriguez]

I have a basic concept of the process. I just need some clarity on the process and if possible a step by step outline. I've read some posts and know there are some people are totally against it, but its the only viable option I see to get started with little to no money down. Although, to some extent I understand their logic regarding the matter, the alternative option they offer up is much slower and doesn't help my cause to get out of the "rat race". Thanks! 

[David D'Errico]

Wholesaling is not the only option to get started with little money down. Here is how I got started https://www.biggerpockets.com/forums/67/topics/315...

But I know your point a lot of people say you can get started in wholesaling with limited funding. 

Wholesaling: 

-Find a deal

-Get it under contract

-Find buyers 

-Market it

-Assign it

-$$$

Simple right?!

However if you are new, you may not know how to do any of these steps and do them well. The first and most important step is to find the deal. Not just know how to find one.... But to know, Is it a Good deal? 

How to find a deal: you can search these topics to find out more on each

- Driving for Dollars(easiest and cheapest)

-Direct mail (takes cash)

- Bandit signs( check local ordinances) 

-A lead generating website

Is it a Good deal: research these topics

- Local market ( flip area or rental area)

- cost of rehab (most neglected area)

- ARV or after repair value

- How to find Comps (real ones) 

So there you have it, a short list of what you need to know to start and I'm sure I missed a bunch. Maybe try and partner with  a local wholesaler to see it all in action? Hope this helps