Beginners Attempt at Wholesaling

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Good afternoon BiggerPockets forum!

My name is Naseeb and this is my first post on this website, and I am really looking forward to the help and advice I can receive in regards of chasing my dreams through real estate!

I'm 19 years old, currently pursuing an MBA at the University of Connecticut. In my spare time, I was really wanting to begin gaining experience in my career field.

Straight to the point: I have searched cumulative hours on the internet hoping to find a guide or detailed explanation of how I can wholesale my first property, and hopefully go on from there, but I haven't run into any such luck. I've even asked my uncle for some guidance, but I'm not given a straight answer, there is often superfluous information involved.

I would love some guidance from an individual or individuals experienced in this field in regards to taking my first steps, and how I can wholesale my first property.

My sincere thanks in advance!

[CK Hwang]

HI Naseeb, I'm not a wholesaler but buy from wholesalers, so here is what I feel are things you can do to make yourself appealing for investors to work with

1. Get your numbers right. My advice is to program an excel spreadsheet and then stick to the numbers. Also once it is correctly programmed, there is a small chance you can make mistakes

2. If you're bringing a deal to the investor, it's best if you can have it under contract. Avoid shopping around a deal that other wholesalers are shopping around. Sometimes I get the same deal brought to me by 3-4 different wholesalers. All in all it always comes across as shady

3. When you're starting out with investors, building trust is a must. Under estimated repair fees or over estimated ARVs are barriers to building trusts, as are deals with shady structures.

4. Be upfront about how much and how you want to be paid.

5. Avoid bringing deals to investors that are already on the MLS or listed with an agent. Odds are, we're scanning the MLS everyday and would probably have seen and put an offer on it if it was a doable deal.

Hope this helps.