Wholesaling in Miami, Florida Area

[Dailin Fajardo]

I'm looking to start wholesaling in my area. I've never done deals before but have been reading ALOT and feel its time to get out of my analysis paralysis. I'm confused on how to start. Should I find investors and see what their criteria are and their budget? Or should I start finding properties and then worry about buyers?? How would i be taxed on double closing or assignments?? Any advice would be highly appreciated.

[Steven Stokes]

@Dailin Fajardo

I have invested in Miami Beach area and I love that market but it's extremely competitive, extremely cut-throat, really tough for an inexperienced investor to get deals or even attention from investors, agents and some buyers.

When I first start investing looking at some investments over there I didn't get any traction until I hooked up with another investor who was well known in the market and who had established connections in the area. I used his name and his connection to dovetail my deals.

If I were you I would network with some investors at your local real estate club meeting and offer to work for them for free or if you find a deal if they would be willing to hold your hand through the process and you split the deal with them.

This way you can build up your connections with other investors, rehabbers and agents without much risk.

@Jon Holdman

Also gave really good advice as well.

Congratulations on getting started and good luck!