All Forum Posts by: Ashley Chapman

Hi Ashley,

If you have not read this book yet. I would highly recommend starting with Brandon Turner’s book “The Book on Investing in Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People's Money”. The book gives great insight on how to find creative financing, gives technical directions to follow and is easy to read. Good luck.

A lot of people wholesale without a license. If you get your license, you will need to declare on any mailings or PAs that you’re a licensed Realtor in the state of MI. Some sellers can be put off by this, thinking you only want to list their property. Furthermore, if you get your license, it doesn’t come for free: you will need to pay insurance and fees, so additional costs to you. 

Hi Ashley!

I live in Grand Rapids, MI and want to get into investing, and I want to start with wholesaling as well!

if you’re wholesaling, you need to:

1. Be prepared to send out a lot of mailers to get the leads. Not talking 100s but 1000s preferably. 

2. Then be prepared to field the calls and have a script prepared. Or pay a call center to do that for you and weed out the luke warm leads and focus on the hot leads. 

3. Then you need to be able to talk knowledgeably to the seller and start building a trust with them and then go view the property once you think you have a good lead. You possibly have talked rough pricing at this point to ensure you’re not wasting your time. 

4. You then need to go to the property, assess it for current value, future value (ARV - after repaired value) and rehab cost.

5. Make an offer considering the above and considering a profit for the final investor buyer. 

6. Market that property professionally to your list of buyers and make the assignment of the PA after showing potential buyers back through the house. 

Easy huh?  Well not really. Wholesaling done well takes investment, a lot of effort and some experience in seeing what needs to be repaired. Rewards can be good but if you get the numbers wrong, you won’t find buyers. 

Hey Ashley Chapman Detroit is a good place to start! Look out for the upcoming property tax auction in September and October.

@Ashley Chapman we have several wholesalers in the MREIA network group, I can tell you that while a bigger city may seem ideal for wholesaling that is not necessarily the case. I have a friend that does flips in a small town in Shiawassee County. You can wholesale anywhere in any market conditions as long as you have investors that are interested in your deal.