Wholesaling Beginner

[Derek Lovely]

Hi Everyone!

My name is Derek. I'm a new investor in the Concord NH area. I've been reading and studying real estate investment extensively and am very close to purchasing my first mutli-family deal. My cousin and I are serious about building a large portfolio of buy/hold properties in NH and have started an LLC as a platform for our investments. We are focused on building lifelong relationships, solving our clients problems creatively in a way that benefits everyone, and adding value to our community through REI.

The long term marathon is to invest in buy/hold properties and have the properties managed.  In the short-term, to build capital - I am motivated to start wholesaling.  It seems like being a wholesaler will provide excellent networking with cash buyers and motivated sellers and will help me learn the essential skills required to be successful.  

I would love to start making connections with anyone in the wholesaling business as I'll be looking to start building a solid cash buyers list and hone my system for finding highly motivated sellers! 

I am also looking at wholesaling because I am currently an independent contractor in construction and it's damn near impossible to get approved for bank financing without a W-2 job if you lack the history through self-employment.  Working on the skills to do real estate investing full time while making a living by connecting people and solving problems - sounds like a win-win to me. 

So to summarize, my main question is:

1)  What is the best advice for newbies in wholesaling?  

Thanks and look forward to connecting with you!

Best Regards,

Derek 

[Paul Timmins]

@Derek Lovely

Welcome. You have received some good advice already.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). You can Google to locate them and go to meetup.com Connect with @Mike Hurney he runs a NH REIA meeting.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

By the way - here are my favorite articles on Wholesaling:

• 9 Reasons You Couldn't Find A Buyer For Your Wholesale Deal
• Don't Start Wholesaling Until You Read This: Wholesale Advice from a Fix and Flipper
• How to Start Wholesaling: Getting Past The Education and Into the Field

The Ultimate Beginners Guide to Wholesaling
https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul