Being confident and knowing when

[David Burton]

I’m new and learning as much as I possibly can from the internet and my work buddy that owns and rents out a few houses. It’s hard considering everybody has their own way of working and some people suggest different things a different way. I guess the “right way” comes from your own experience and what you feel comfortable with. I’m wanting to get into wholesaling as soon as possible, I have no big money to put towards anything and you have to start somewhere, right? I have a few questions for anyone with wholesaling or investing knowledge/experience that’s willing to help.

1. What’s considered a good deal for an investor? Ex. A house is valued at 50k, but the seller agrees to sign a contract for 40k. Is that even enough for an investor to put his time and money into? Is any amount of profit considered a good deal?

2. When I contact someone about their home and they ask about my experience in wholesaling, what is the best answer? Considering I’m just starting, I have none. If someone told me they have 0 experience, I probably wouldn’t feel too comfortable working with them or taking advice.

3. If you’re not aware of local meetups, what are ways to find buyers or any other connections? If I go to auctions, etc should I approach anyone that threw a bid and introduce myself?

4. Once I have a cash buyer as a contact, do I ask what he’s looking for and wait for that opportunity to grow or just get whatever I can under contract and bust my ___ to sell the contract?

I may be overthinking something that could be simple, but it’s better to know ahead of time than to possibly disappoint yourself and/or a home owner.