New To Wholesaling and Would Like Advice

[Corey Joyce]

Hello all,

I made a post about two years ago and I am back for the first time since then. I am in the process of graduating from college with a Business Management degree and a Marketing concentration. I have always been interested in real estate and have been reading and learning things about wholesaling. I understand all the general concepts of wholesaling like; Finding a motivated seller, obtaining a purchase and sale document, finding the cash buyer and assigning the contract to complete the deal. However, I am still cautious in going into all of this alone. I have no prior experience in real estate and I feel like I might make a crucial mistake or miss something that makes the deal go wrong. 

I have many questions before I actually go out and try to close deals:

1. How will people trust me because I am a first-time buyer?

2. How do I find a good attorney and what types of questions should I have for him/her?

3. Where do I find good contracts to use and what clauses should be included in them?

4. How do I know a property is a good deal, even if the seller is motivated? (Why hasn't someone else took advantage of this deal?)

5. What do I do if I can not find a cash buyer?

6. Does the seller and cash buyer know that I am a wholesaler?

7. What/ who are all the necessary documents, people, agencies, etc.. should I have on board with me?

I really appreciate the help. If anyone is in the Pittsburgh area and is an experienced wholesaler, I would love to talk to you. I am also looking for a mentor or guide through my first deal.

Again, thank you for all the help.

[Steven Leigh]

Ignore the negativity.

You're asking good questions, but what you really need to do is just build your broad base of knowledge. I always recommend checking out some podcast and YouTube videos to get a better idea of the process, talking to sellers, etc.

Here are a few to check out:

Investor Grit podcast (Tom Krol and Cody are awesome)

Sean Terry YouTube channel and podcast (podcast isn't updated anymore, but back episodes are great)

Also check out Tom Krol's appearances on other podcasts like the Bigger Pockets podcast.

https://www.youtube.com/results?search_query=tom+k...

This won't teach you everything, but it will at least fill in some of the gaps. Get some of this knowledge under your belt, then start asking more questions here in the wholesaling forum. You'll start to understand it a lot better.

If you need specific help send me a PM and I'll try to help you.