How to begin wholesaling in college as a side hustle?

Question

I am currently a freshman at Baylor and was wondering one day how I could earn a little extra money on the side. I stumbled upon wholesaling one day while I was on BP and I was fascinated. I figured this would be a perfect way to get my foot in the door and begin to learn more about the real estate market. The only problem is I have no idea where to begin or what steps I should take to start this journey of mine. Any suggestions would be greatly appreciated.

Blaine Alger · Answer

@Robert Pfenninger Right now I am busy but it definitely sounds like something I would be interested in. I will try to make it out some time. Thank you!

Robert Pfenninger · Answer

Howdy BlaineI am a beginning to wholesale and flip homes here in Waco as well. There is a Real Estate Investor Club that meets at George's on Speight here in Waco. We meet tomorrow (Jan. 30th) at 6:00-8:30. You can create a free Meetup account and RSVP. Your first Meetup is free then it is $25 for a whole year and they typically host a Meetup once a month. It is well worth the money for the knowledge and networking you will gain, not to mention the free meal given pretty much pays back your $25. No one tries to sell you anything either which is awesome. Also a fellow investor,Vern Darlington, is hosting a Meetup in Temple on Feb. 9th and February's Meetup will be about wholesaling, this Meetup is free and also well worth the time and drive from Waco. It is called Masterminds of Central Texas Real Estate Investors on the Meetup app/website. Hope to see you there!Best of luck to you!

Barry Ratliff · Answer

Blaine congrats on taking the first steps by just inquiring about the business and asking for help to gain knowledge. I'm a investor minded real estate broker in Temple. Lived in Waco many years ago but know it well. To gain more knowledge is by doing. To find property is the hardest part of the business. Once you have it in your possession, under contract, the buyers will find you. So to keep it simple, farm your areas of "dont wanter owners", negotiate the best price and sell your contract. There are buyers for all homes no matter the condition so dont judge. If you don't want to get to involved in that side of business at first, you can always find property and get a bird dog fee from an investor that would negotiate with owners. Hit me up anytime. I flip, broker deals, partnerships, general contracting and sometimes mentor.

Tim McBride · Answer

Hi Blaine!As a fellow Baylor student and real estate professional I love the hustle you are showing! Way to get after it!

Candy Collado · Answer

I think Texas is a great market.

Caleb Heimsoth · Answer

Blaine Alger what are you studying at Baylor? I went to baylor myself and graduated in may of 2016. Enjoy your time there as it’ll be the fastest and some of the best years of your life. Feel free to PM me if you want to talk more. Always happy to talk with other baylor folks. I’ve been buying real estate since April of last year. Sicem Bears

Marshall Hooper · Answer

Blaine, If you end up getting serious about this and you start farming the Waco area. Feel free to add me as the first buyer on your buyer list. Good luck!

Laura Alamery · Answer

@Blaine Alger That is how I started, as a side business to pay for my college tuition so I would not incur students' loans ... 30+ years ago. :)It eventually became my full time business, after I studied all the way to an MBA, but I realized that I was making more money from my side business than my corporate job. I would like to make a couple of recommendations: first of all, time management. You have to work at this business, like @Alex Deacon said. Even as a side thing, you have to put in consistency and some work (focus) every day. I did.The other suggestion is to attend local REIA meetings, find someone you like online (YouTube, BP) and follow their advice and training. Don't follow too many investors, or you will get confused more than anything.When I started, I read "Nothing Down" by Robert Allen (he also wrote a more updated version called "Nothing Down for the 2000s") and I bought the course by Carlton Sheets "No Money Down." I was more interested in Buy and Hold in the beginning, but eventually I actually got more into Wholesaling and Fix and Flip.

Alex Deacon · Answer

@Blaine Alger You may want to try this out as more than a side thing. It will take commitment and time to make it work but you would be surprised with the potential income and wealth building that could come from starting with this avenue. Read some books about the subject and continue to build your knowledge then simply put your knowledge into action.

Blaine Alger · Answer

@Kevin Powell Thanks for the suggestion, I will definitely look in to it.