Wholesaling in Las Vegas

[Al Davis]

Hello all,

This is my first post and I would like to start off by giving my appreciation and thanks to all of the members here at BP for being so helpful to all the newbies and answering all of questions. You guys don't get enough credit for changing and inspiring peoples lives for the best.

I'm brand new to all of this but I'm very, very motivated to get out of the corporate grasp asap. For the past week, I've been reading as much as I could about REI and have put together a mental plan on how I want to approach this. Here's my situation - I don't have much money, my credit is poor to fair depending on which credit bureau is pulled and I live in Las Vegas. Based on this information, I feel that wholesaling would be the best way to start off. Here's my dilemma - is this the right approach to use here in Vegas with so many foreclosures and REO's? What do you guys think about be able to wholesale in Las Vegas? My goal for this month is to build my buyers list, find a couple of real estate agents to work with, find a title company and real estate lawyer that does both assignment and double closings, and make any other connections that I can. Is there or anything else I should be doing? I'm open to any suggestions and appreciate any feedback. Thanks.

[Jimmy C.]

First of all Welcome to BP.

Secondly, I think wholesaling works the same everywhere. Vegas should not be an exception. Our area has a ton of REO's and Short Sales, so I know that scenario.

Building a buyers list is good. But knowing what cash buyers are buying, the areas they are buying in, and what they are generally paying is key. Armed with that information, you can start searching for your first deal and know when you have found one.