Advice for 18yr old beginner wholesaler?

[Nicardo Mundell]

Hey to everyone. I just created this account so my bad if I wrote this incorrectly.

I've always had some sort of aptitude to invest to get rich now, not later. investments like stocks aren't my thing because I don't want to buy a stock and have to wait 10+ years to potentially sell it. I don't want to have financial freedom when I'm old. I want it now so I can actually enjoy it moving forward. That's when I came across wholesaling. I did extensive research on it and it really intrigued me. The fact I can make a profit with barely any money got my attention. I know all the basics to it, but I feel like I'm missing tiny details. I don't plan on using this long term, but as a stepping stone into more real estate investments like buying and renting out a property, or a fix & flip. I currently reside in Richmond, VA. I don't know anything about the market & I'm kind of scared to actually Start finding sellers, because I feel like I'm going to mess up the Purchase and sales agreement contract and having to actually buy the property when I don't have the money, and I don't even know where to start to find cash buyers. Help

[Lydia R.]

@Nicardo Mundell Most people who learn about wholesaling and decide that they want to do it are basically looking for the same things: A get rich quick scheme that costs no money but allows you to make millions in a short period of time. I understand that you are 18 and you want everything right now. Wholesaling doesnt work that way. It requires more specialized knowledge and skills than other methods of real estate investing. It does require capital. It requires time. You have to make a substantial investment on your part, time and or money. You have to know what you are doing. You have to understand your market. You need to be able to run comps, accurately calculate rehab costs, understand the difference between fix and flip rehab costs and rental rehab costs. You need to be able to find these motivated sellers in the first place. You have to compete against the bigger players in your market and find sellers that want to sell at a discount. You obviously havent spent enough time on BP to know this yet but wholesalers get a bad rap. They get labeled as liars, predators, scammers, scumbags etc. and its because the majority of them are just looking for a get rich quick scheme. If such a thing existed everyone would do it. If you want to get into wholesaling then please take the time to educate yourself on the entirety of the process, not just the theoretical bags of cash that you think it will generate.