Wholesaling-Starting Out: New Investor Beware!

[David Ramos]

Good day BP community,

I just wanted to share a very important article regarding some misconceptions related to the wholesaling of properties, particularly for new investors getting into the business. Here's the link:

http://www.biggerpockets.com/articles/149-wholesaling-properties-7-costly-mistakes-of-newbie-investors

I felt directly identified by what Iman Yusef-Yahya exposed in the article since I, like many of us in the BP community, am a newbie investor. One of the main points that I recognized throughout the entire excerpt is to avoid speculation, either by thinking that the market will swing to your favor or just by getting "in love" with the property. One of the key aspects that affects an investor's performance is sticking to your strategy, to maintain the focus on your guidelines and plans and to consider exit strategies in case the entire deal goes south. I hope everybody absorbs as much pertinent information regarding this issue to ensure little to no errors in your successful investment ventures. Best of regards to everybody.

David Ramos