Getting started on Wholesaling

[Furay Chang]

Hey guys 

First time investors but long time lurker here. I’ve been looking into doing wholesaling as it seems low money down. 

any tips? Or anyone in the area willing to lend some guidance? 

[Lydia R.]

Quote from @Furay Chang:

Hey guys 

First time investors but long time lurker here. I’ve been looking into doing wholesaling as it seems low money down. 

any tips? Or anyone in the area willing to lend some guidance? 

Wholesaling is great, but there is a lot to learn. You are definitely in the right place to get all the information you need to get started. Wholesaling has 4 main parts
1. Marketing for Motivated Sellers
2. Negotiation, Offer & Executed Purchase Agreement
3. Marketing to find Cash Buyers
4. Closing 

Most  of your efforts will be spent marketing, because none of the other steps happen without a motivated seller. My best advice there is to come up with a reasonable budget. What can you afford to spend each month on marketing? Dont fall into the "I will spend all my money on this one marketing run because surely I will get a deal and be able to fund the next round" trap. Because if you dont get a deal now you are knocking on doors because thats all your budget allows for. Once you have a marketing budget, devise a strategy (or multiple strategies) that fit within this budget. 
Some low cost ideas include: 
Driving for dollars
Bandit Signs
Cold Calling
Cold Texting
Word of Mouth/Social Media
Facebook Ads (You can run a campaign for $5-10/day

This doesnt nearly cover everything you need to know, but its a start. If you have any other questions feel free to reach out! I can recommend an excellent book that includes all the information you need to have in order to get a proper and successful start. 
Good Luck and welcome to the wild world of real estate wholesaling!