Wholesailing in Virginia Beach

[Selena Harrison]

Any advice on wholesailing in Virginia Beach?

[Patti Robertson]

As an experienced landlord/rehabber/wholesaler, in my opinion, wholesaling is the hardest of the three investing arenas to get into.  People perceive that it is easy money, but the reality is that, especially in today's market, it is very hard to find a property that you can put under contract and leave enough money in the deal both for you and the investor you plan to wholesale it to.  Landlording is the easiest to get into, in my experience.  Flipping is second easiest, but by far the riskiest.  You do not need to use hard money, and in today's lending environment, most flippers are using bank money, not hard money. Our margins are thinner than ever before, because inventory is low and competition is high.  Bank money is way cheaper.  If you have income, assets, and credit, you should have no problem borrowing from a local or regional bank (not national) for rentals and flips. If you don't have income and credit, you will need cash to put down for HM deals. Most HMLs require that you put some money into every deal.

Have you explored the BP education tab? There is tons of free education right here on BP.  That is the best place to start.  Not only is it great material - it is FREE!