Getting into Real Estate Through Wholesaling in Maine

[Annalise Kingston]

Hi everyone! I’m new to the real estate world and have a lot of questions. I’ve been looking into wholesaling as a way to start, but even though I’ve read forums and discussions about the steps to start, I feel like I need more direction when it comes to beginning this process.

I have about $7,500 right now, so not much money. I graduated in 2017 and am now starting my Master’s degree in social work, so since I’m going into this degree understanding I won’t be making a large salary in my career, I want to find a way to supplement my salary through getting into real estate investing. Does anyone have any advice for how to start off with such a small amount of cash? I’ve been hearing a lot about wholesaling lately and thought this might be the way to go.

Also, if anyone is reading this who has experience and is in the Portland, Maine area, I would love to meet if you’re willing to offer some guidance. Thank you!

[Rylee Knox]

Hi @Annalise Kingston. And welcome to the real estate investing. My wife and I purchased our first property a little over about a year and a half ago for less than $10,000 down using a 3.5% down FHA loan. That property now cash flows about $700 a month for us. There are many markets here in Maine where $7,500 is enough to get started with. We would be happy to meet with you to share some of our experiences, and tips.