Finding Wholesaling Partners

[Kristen Jackson]

I am new to real estate wholesaling I would like to partner with a seasoned wholesaler or investor. I am  in the Atlanta west end and east Atlanta area.

[Brett Snodgrass]

Welcome to REI @Kristen Jackson . Have you looked at joining the REIAs in our area? They're good places to connect with investors in person. If you're wanting a coach or mentor I'd recommend the following. 

1. Set up a keyword alert for your specific area.

2. I'd then create a post on BiggerPockets saying where you are from and that you're looking for advice on how to find an ethical mentor in your area.

^This will help promote you with other people who have keywords set up for your area. (But make sure you don't say, "I'm looking for a mentor in my area, any takers?" As that will get you kicked off for solicitation)

3. Then I'd be on the lookout for established wholesalers and investors in your area that pop up from your keywords.

4. Once you find a few that look interesting, take them out to coffee. Make sure you interview them and get a feel for them. (working with them is a mutual agreement)

5. If you like them, and they seem like a good fit, then ask if you were to find some deals, if you could bring the deals to them for them to buy and then offer a 60/40 split (they get 60%) if they'll agree to walk you through the process of closing on it/selling it. And state that you'd obviously do a lot of the leg work, you'd just need to be shown what to do.

6. Then offer, if they have any other needs in their business, that you're really hungry to get involved and to learn the business, so if they needed help answering phones, cleaning toilets or whatever, that you'd love an opportunity to work with them and help out.

7. Then actually do it, if they offer you something.

8. Begin looking for deals via free resources, (here's a good guide to get you in the right direction: https://www.biggerpockets.com/renewsblog/2014/04/23/acquisitiondomination/). Also consider driving for dollars, posting signs at coffee shops, etc.

9. Learn how to run comps and analyze deals the best you can (search on the BP blog for 65% rule for wholesalers) and then when you think one might be a good deal, bring it to the investor who has agreed to purchase the property, and ask him to confirm your comps and give you feedback.

10. Then if he likes it, boom: you now have a real estate mentor and you just rinse and repeat moving forward.