I know Wholesaling isn’t Pretty, but what else ?

[Alex Gallardo]

Hi everyone. I went to a REI class. To be specific the Merrill RE Class. I sat down and took any notes i found useful and new. I know wholesale isn’t as pretty as it is presented. I know it is hard and people aren’t always honest. If I wanted to start on Wholesaling, what could I expect and what should I arm myself with ? Any specifics ? I’m in the studying RE stage. I’m 18. Thank you!

[Lucas Machado]

I'm not sure how much studying will really help . . . though of course it's great to learn things on a forum or book . . . but in the real world it's so different that it may be better to focus on learning as you begin investing and issues come up . . . 

To get started though, here are few questions to sit down with: (1) where/how will you source your deals; (2) to whom will you wholesale too; (3) figure out escrow deposits/contracts. 

Once you answer those questions, there is likely 5 or 6 sub-questions. For example, you want to do direct-mail. Need to figure this out: (1) what mailing list will you use; (2) how will you generate mailers; (3) how will you pay for your mailing list and/or mailers; (4) what phone number to use; (5) call in script.

I could go on a bit . . . the devil is in the details and execution so that's a great place to focus your attention. Experience will teach you the rest.

I would also add that - I don't mean you need to go it alone and have a negative experience. Latch on to a person that is ACTUALLY doing what you want to do where you want to do it. For you, that probably means finding an excellent wholesaler in you area, and bringing them deals to work together on.