Multi-Property Land for Sale!!

[Giovanni Sims]

Hey,

I'm about 10 minutes East of Columbia, MD. I'm new to wholesaling and looking to get started with my first deal. I found a very distressed property just around the corner from where I live that just had a "For Sale" sign go up with an agent attached. I've done tons of reading and watching videos on Youtube that give very in depth information so I do feel comfortable tackling this deal, but would love some advice as I go through the steps or just someone to come back to for next steps mentorship. 

This seems like a big deal! This property is surrounded by townhomes, apartments, and businesses. The house + the land around it is what's being sold (Multi-Property Land for Sale, is what the sign reads - and it's a lot of land). I'll happily go 50/50 if someone is willing to take me on the journey of this particular deal. 

[Don Konipol]

Quote from @Giovanni Sims:

Hey,

I'm about 10 minutes East of Columbia, MD. I'm new to wholesaling and looking to get started with my first deal. I found a very distressed property just around the corner from where I live that just had a "For Sale" sign go up with an agent attached. I've done tons of reading and watching videos on Youtube that give very in depth information so I do feel comfortable tackling this deal, but would love some advice as I go through the steps or just someone to come back to for next steps mentorship. 

This seems like a big deal! This property is surrounded by townhomes, apartments, and businesses. The house + the land around it is what's being sold (Multi-Property Land for Sale, is what the sign reads - and it's a lot of land). I'll happily go 50/50 if someone is willing to take me on the journey of this particular deal. 

You will end up doing a lot of this for experience only, as there is no deal to be had for you here.  You have no expertise to bring to the table, no contacts, and no reputation.  The property is listed with a licensed professional real estate agent with an in-house network and a network with the MLS service, Realtor.com nationwide, and perhaps a number of other sites.  
The reality is nothing like what the YouTube gurus teach. 99% of the real estate transactions out there have no need for, and no profit potential for an unlicensed “intermediary”.  The other 1% are constantly reviewed by licensed Realtors, large wholesalers spending $20,000 monthly for marketing, numerous platforms and services selling leads, fix n flippers, syndicators, investment funds,  and “opportunistic” buyers such as myself with millions of dollars in cash to close any discounted deal in less than 48 hours, if need be. 

[Giovanni Sims]

I appreciate that. I'm honestly just interested in the experience right now and I don't think there's anything wrong with that. I understand most people not really finding an interest in working with me, but closed mouths also don't get fed, right? There's absolutely no issue in asking. Now, while I did mention I was new and have a beast of a deal for someone like myself; who knows, there may be someone willing to just allow me to tag along. Thank you for your invaluable professional opinion. 

[Giovanni Sims]

Quote from @Don Konipol:I appreciate that. I'm honestly just interested in the experience right now and I don't think there's anything wrong with that. I understand most people not really finding an interest in working with me, but closed mouths also don't get fed, right? There's absolutely no issue in asking. Now, while I did mention I was new and have a beast of a deal for someone like myself; who knows, there may be someone willing to just allow me to tag along. Thank you for your invaluable professional opinion.

Quote from @Giovanni Sims:

Hey,

I'm about 10 minutes East of Columbia, MD. I'm new to wholesaling and looking to get started with my first deal. I found a very distressed property just around the corner from where I live that just had a "For Sale" sign go up with an agent attached. I've done tons of reading and watching videos on Youtube that give very in depth information so I do feel comfortable tackling this deal, but would love some advice as I go through the steps or just someone to come back to for next steps mentorship. 

This seems like a big deal! This property is surrounded by townhomes, apartments, and businesses. The house + the land around it is what's being sold (Multi-Property Land for Sale, is what the sign reads - and it's a lot of land). I'll happily go 50/50 if someone is willing to take me on the journey of this particular deal. 

You will end up doing a lot of this for experience only, as there is no deal to be had for you here.  You have no expertise to bring to the table, no contacts, and no reputation.  The property is listed with a licensed professional real estate agent with an in-house network and a network with the MLS service, Realtor.com nationwide, and perhaps a number of other sites.  
The reality is nothing like what the YouTube gurus teach. 99% of the real estate transactions out there have no need for, and no profit potential for an unlicensed “intermediary”.  The other 1% are constantly reviewed by licensed Realtors, large wholesalers spending $20,000 monthly for marketing, numerous platforms and services selling leads, fix n flippers, syndicators, investment funds,  and “opportunistic” buyers such as myself with millions of dollars in cash to close any discounted deal in less than 48 hours, if need be. 

[Dave Kush]

You are right that closed mouths do not get fed. At the same time, a property listed with an agent is a low probability deal. If you understand it's largely an experienced play and won't go anywhere, there's certainly nothing wrong with giving it a shot. 

As you continue, you need to find a title company that's going to work with you, have some templates of the documents you will need, and ideally some relationships with cash buyers. Once you wrap this property up you have to flip it to someone. It's better if you've already got relationships with people that are buyers. Otherwise you go from scrambling to get the deal to scrambling to sell the deal.