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Updated over 7 years ago on . Most recent reply

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Ezra Mash
  • Investor
  • Minneapolis, MN
2
Votes |
2
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Wholesaling for start up cash to start investing. Whos doing it

Ezra Mash
  • Investor
  • Minneapolis, MN
Posted

How many of you are wanting to become a real estate investor, but cash is a big issue?   How many of you have decided to wholesale to build cash up until you can buy a property?    I am wondering for people doing this, what are your success stories with getting properties locked up and what are some or all of your disappointments?   If someone was willing to "pay it forward" and help/teach you how to do it better is that something you would be interested in?   I was blessed to have some of the top people in the industry as mentors and they taught me for free so I am offering to pass the knowledge down as long as you promise to do the same someday.  I have been if over 250 deals  in the last 3 years and own 5 rental properties just off the money I made in real estate.  If you want help please reach out.  If you are really amazing and don't need help then please send me some houses to buy :) 

Most Popular Reply

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426
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226
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Mateusz Prawdzik
  • Developer
  • Little Ferry, NJ
226
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426
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Mateusz Prawdzik
  • Developer
  • Little Ferry, NJ
Replied

@Ezra Mash@Jose Castillo@Michael Diggle I started that exact way, I started about 10 months ago with wholesaling and getting deals under contract was not that easy especially since not many people trust an 18 year old with buying a house and closing a deal. But I did and after closing the first deal, the other ways were easy because I gained lots of experience with the first deal. Finding the deals was the hardest thing out there, especially in NJ, there was lots of competition and as a beginner my rehab estimating skills were not too advance like they are now and my negotiating skills were terrible too. But after 4-5 whole sales I decided that sometimes in wholesaling you can work on a lead for 2-3 months and not getting anything out of it because they are wasting time. So I decided flipping....

I started my first flip in December of last year, I started small with rehabs and now doing add a levels and developments. In 10 months time I grew from a single flip to 8 flips. (6 being done.) I have been blessed and am lucky to be in the position I am in and have learned at a rate that no one else has. I know how to estimate rehabs, what's a good investment in a home and what is not, I've learned to talk to people especially contractors, I've learned who the snakes of this business are, I've learned to connect with the right people, I've learned to grow my company and business, and most importantly I've learned to take risk and it will pay off. 

I am just now starting to allocate about 10% of my funds back into marketing and advertising and growing my company sending out mailers and doing door knockers. I am looking forward to connecting with everyone I possibly can in the business and growing my company and branding myself. 

If anyone has any questions about anything, please reach out to me. I will be glad to give my advice. I appreciate the support

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