What was your first step in getting into wholesaling?

[Account Closed]

Hey everyone. I am fairly new to real estate investing and I want to start off wholesaling. My question to everyone who has done wholesale deals, what is the very first step to take to get started in wholesaling? 

[Marvin Dean]

Hi @Jacolby Pittman  Welcome.

I am new myself and since I haven't done my first deal just yet I can't give that advice. I am also entering into the business from a wholesaling perspective and doing all I can to get there. Other's may soon chime in that do have the experience and can tell you what they did.

I have though been on this site daily and reading up on anything that I can get my hands on, especially here in the "Wholesaling" Forum. Some of the things that I am sure they will tell you though is that you should do the same. They will tell you that this avenue that we chose is not the easiest, but doable. They all started as newbies as well. They will tell you to get as much education in this business as you can. Wholesaling or otherwise. There is a good network here but like any business, they will expect that we are able to know/learn the basics to it. What makes a good deal and what doesn't. What to do and what not to do to be a good wholesaler. If you didn't see it yet the very first sticky thread in the wholesale forum is a great place to start! It's The Truth about Wholesaling!

- Get to know your markets

- Get to know your customers (Investors or otherwise). How do you know what to give them if you don't know what they look for.

- Build relationships

- Understand how to make repair estimates (ARV)

- Understand how to valuate your deals

That's just a summary of some things found in that thread. I wish I was up to speed to give you more, but for now just READ, READ, READ and LISTEN, LISTEN, LISTEN. The Podcasts are your other best friend! Here is another one that has some good stuff in it.

Well, that's the extent of my help for now but best to you in all your endeavors!

-Marvin