I have $6k and want to wholesale. What is my next step?

I have $6k and want to wholesale. What is my next step?

Real Estate Investor · Woolwich, NJ · Member since 2008 · 9 posts · 1 vote

My experience includes: previously wholesaled a HUD property, own several rentals and rehabbed several houses. Thanks for any advice

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  • Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
    11y

    Some will argue to go get licensed. 

    To be successful at wholesaling, you need a solid group of cash buyers you can count on picking up the contracts. You need motivated sellers. And you need to know how to evaluate the property, make an offer that solves their problem, and pitch if to the investors. Use the $6K to answer those questions. 

  • Real Estate Agent · Charlotte, NC · Member since 2015 · 29 posts · 22 votes
    11y
    For me, I like to say I am an income stir and rehab resell guy. When I bid or buy too many properties for self use, I then offer the homes to other investors (wholesale). This helps eliminate risk from the wholesale transactions.
  • Wholesaler · Eau Claire, WI · Member since 2014 · 133 posts · 32 votes
    11y

    post cards & maybe yellow letters

    set a budget/3weeks to a month

    like maybe $300/month .... learn as you go

    -Kelly

  • Oxnard, CA · Member since 2015 · 43 posts · 8 votes
    11y

    You find a property and you put some of that money on an assignable or double closing contract and you find your buyer.   

    But you should spend the first couple of hundred getting your license.   Get it done so nobody can complain.   And it will be an education if you've never been in RE before.

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