I'm new to the REI family and need some direction.

[Nathaniel Harris]

Hello REI family, I want to start off by saying thank you for this platform and the great people on here with all the wealth of information. I'm in need of guidance of where to start off at with my own REI marathon. I'm basically starting off considering wholesaling because I'm on limited funds and trying to raise enough capital to fund my own deals. I don't know if I should do the marketing first or build a cash buyer's list first. Now I do know the REI business won't be easy but I'm ready for the journey. I've already got my mailers done! as far as ready to mail I just hadn't mailed them yet , because I have not created a buyer's list. I'm wondering should I just go ahead and mail them out first and worry about the buyer's list in the process or vices versa. I would appreciate any feedback or help on what road to travel first. Thanks

[Jerryll Noorden]

Dude, listen.

Don;t follow "the" way of doing wholesaling.

This is what you do.

Understand first what wholesaling is. You need discounted properties + you need cash buyers.

Why ever said you need to pick ONLY one and then do the other.

If you knwo what you need to do, and you do...

Just do it all!

So again: 

You need discounted properties (marketing) + you need cash buyers.

Pick your weapon of choice for finding discounted OF MARKET properties (I strongly suggest FBads PPC DMM and SEO), and while that is on going start posting EVERYWHERE that you have or will have a ton of offmarket properties, and whom ever joins the list now will get first dips. Act big and people will think you are big. Fake it till you make it IS a thing!

In order to make it people need to believe you are the go to resource. 

Don't do wholesaling like a rookie, You will NEVER build credibility if you are going to place bandit signs and driving for dollars. You need money to make money. So save money, and market like a boss!

There is no magic formula to this. Sure you can make a wholesale deal by D4D and bandit signs but that is luck. It is unreliable, unpredictable, and a lot of effort. If you really want to start this as a real business and eliminate luck as much as possible from your business model you approach this as a legitimate structured business.

And... consider getting your license. I have no idea if you need it or not wholesaling, but no matter how retarded this war between brokers and "unlicensed wholesalers" is, the last thing you want is set up this entire wholesaling empire and you find out it is illegal. But that is up to you.

If you want to start wholesaling do not look for others on a plan. By all means listen to all feedback you get to get an idea of the challenges but make your own business model based on your understanding of how you want to do it.

Les than 5% (my understanding) of wholesalers actually make it (as in a legitimate company), so why would you follow the "plan" of the 95% of the people when you already know they all failed.

Hope this helps. Confidence is everything. Never be submissive to "lack of knowledge"!