Ready To Start Wholesaling. Just an Intro and Some Questions

[Chris Nwoke]

Hey everyone. My name is Chris. After a series a events and soul searching over the past few years, I find myself lead down the path of real estate investing. After looking at all different aspects of it, I found myself very interested in wholesaling after I bird dogged a bit for a wholesaler a while back.

So over the past month or so, I've pretty much been in the business mindset. I'm 23 and in college (will graduate in about a year). In my spare time, I've read pretty much everything out there about the subject, I've set up a website, designed business cards, registered an LLC, am currently reading Rich Dad Poor Dad, etc. I'm pretty much ready for that next step.

Now the goal is to begin to network. I'm in the Atlanta area (specifically Cobb County), so I'm trying to see if there other people on this board from this area as well.

The only major question on my mind right now is what are the main things I should make sure I do when starting out. Or I guess I'll say what would you do if you could go back to when you first started?

I'm looking forward to learning from everyone here and acheiving my goals. Thanks.

[J Scott]

Hey Chris,

I invest in Cobb, and I would agree with Ned about starting out -- know the numbers, know how to analyze deals and know what investors in your area are looking for.

On top of that, you need to know values of properties in your area. Look at hundreds of houses, see what things sell (and for how much), see what doesn't sell, get familiar with rehabbing costs, etc.

As far as wholesaling is concerned, I personally believe it's tougher to be a good wholesaler than it is to be a good rehabber -- a wholesaler needs to know everything a rehabber knows PLUS needs to be able to deal with the investors they are selling to.