New Wholesaler Looking for Tips

[Danny Rapczak]

Hello everyone, I am new to wholesaling.  I'm in the process of building my partner/buyer list before I really start hitting the ground with marketing for sellers.  If anyone is willing to provide tips or stories of their success I would love to hear from you.  A couple of questions I have:

1) any NJ based wholesale friendly title company recommendations?

2) what service if any do you use to grow your lists (sellers)?

3) looking back would you change anything when you first started?  

Thank you in advance!

[Wale Lawal]

@Danny Rapczak

Just like any other real estate investing strategy, there are pros and cons to wholesaling. Let’s look at some of the biggest benefits and drawbacks you need to know about.

Pros
It’s a good entry point to getting started as a real estate investor.
You have the opportunity to close real estate deals in any market, regardless of proximity.
Very little capital is required to begin, so it’s a low-risk way to get started as an investor.
There’s an opportunity to make a large profit over a short period of time.
Cons
Wholesaling offers a lower profit margin compared to other real estate investments, like flipping.
You’ll have to do quite a bit of research to find the right properties and cash buyers.
It will take time to be successful and start earning a profit as a wholesaler.
There’s unpredictability, as profit will depend on the availability of the market.
You’ll rely on property owners feeling comfortable with the wholesale real estate strategy and investors who are open to buying.

All the best!