Wholesalers - How Did You Complete Your First Deal?

[John Hall]

Hello Wholesalers!

How did you get your feet wet and complete your first deal?

I've been networking, learning, analyzing and researching properties in Hartford County, CT for about a month now. I've connected with several investors, only one that I almost fully trust now to do a deal without having it under contract in my name first. I have also connected with several agents and got access to the MLS where I have been finding my deals.

A couple times I've been close to getting an investor to not only take interest in a deal that I've found but also give the green light - but I still haven't gotten that, along with their POF, to get a property under contract.

I recently lost my job and my goal is to make my way wholesaling, but I am finding it is taking too long to get the results I needed to close a deal and get a wholesaling fee to make a living. I don't currently have an income or have capital to get my own proof of funds or preapproval to get a property under contract. My plan has been to use the cash investors that I've already networked with to use their POF to get a deal under contract - either under my name then assigning the contract or under their name with a separate legal agreement to get my fee.

Thanks for your time, I look forward to your advice!