To Wholesale or not, that is the question!

[Cynthia Harrison]

I don't have any savings because of divorces and I helped my children & grandchildren start on a better foot than I did & I have a big (too big!) heart.

So with that being said...

I thought I was ready to try Wholesaling properties. However, after reading so many negative comments regarding Wholesalers, I'm not sure! I'm not the type to scam people out of anything. Been on the receiving end too many time...

Is it still possible to wholesale to get my feet wet in REI?

I'm currently on disability along with a tiny monthly retirement.

Any suggestions out there?

[Lydia R.]

@Cynthia Harrison Wholesaling can be a dirty word around here sometimes. Its a very controversial topic. The people who do it, support it and the people who oppose it are extremely vocal in their dislike for wholesalers. That being said, wholesaling gets advertised as the “easy” way to get into real estate with no cash and no credit and that is a lie. Wholesaling is difficult. It takes money to do marketing, it takes real estate knowledge and people skills to find and evaluate properties and put them under contract. I tell people who dont have the capital to do wholesaling that they need to start as a bird dog instead. Drive for dollars, collect a list of homes with tall grass, over flowing mailboxes, general dilapidation or other signs of vacancy and/or distress. Leads are incredibly valuable to wholesalers or real estate investors. Its a lot better then jumping in before you are truly ready, especially if you are on a limited or fixed income. Other than that look for other ways to make money (side hustles) and put that money aside to help you get your real estate investing off the ground. Having a big heart is an admirable quality, but you cant help others if you cant help yourself. If you and I are in the ocean drowning, you cant save me any more than I can save you. One of us has to get into a boat in order to save the other. Help yourself first. Then you can help whomever you want.

Just my 2 cents! Good luck! Feel free to DM me if you have questions!