How do I set up a wholesale deal? Where should I start?

[Ley Woods]

How do I start a wholesale deal? What’s the first step?

[Doug Pretorius]

@Ley Woods It all starts with finding a property that you can get under contract for less than it's worth. Doesn't have to be a huge discount if it's in good shape. But it has to be at some sort of discount.

You also need to build a buyers list.

Something you can start first thing tomorrow to get your feet wet is to jump on craigslist/zillow/kijiji and call every house for rent ad in your area and ask them 2 questions:

1. Would they consider selling? (If so, for how much?)
2. If not, are they interested in buying more houses to rent. (If so, what are they looking for?)

It might take 200 calls to find someone interested in selling. But by then you'll have a bunch of people ready to buy!