Another Wholesale Newbie

[Manuel Mata]

I am extremely fortunate to have found this site. I have been reading different topics and blogs on BP since last week, and there is great deal of information that will be extremely helpful as I begin investing/wholesaling.
Like most beginners, I want to begin with wholesaling real estate. I have a goal of buying another rental property or property to re-sale by mid-year. I began "driving for dollars" last week and collected about 60+ addresses of FSBO/For Lease, vacant/abandoned properties in specific Houston neighborhoods. I hope to contact them this weekend by phone and possibly send a simple post card. I also began building a buyers list the ideas I found here in BP.
I plan on posting my results on how I am progressing to have some feedback/critique. I also hope to network with with BP members from the Houston area(or work the Houston area). I look forward to learning more from the BP community,
M.M.

[Jeffrey K.]

I'm not a wholesaler, but from what I have learned, FSBO means, "I am too cheap to hire a realtor and have not equity in my home to pay the commision."

Gas is also north of $3/gal. It is not cheap to drive around all day. You are better off finding a way to get a list of people who NEED to sell and have equity. A better list to BUY would be NOO, owned more than 7 years, tax bill sent out of state.

I dont think this is a good way to get into real estate for the record, but if you must at least do it right.

A better option if to get another job or even work as a realtor to save money to buy that rental. Wholesaling is very hard to do and only a few make money doing it. It can cost a lot to advertise and you can piss a lot of people off. If you want to own rentals in this area it is better to not burn the brdiges and just go straight to rentals.