All Forum Posts by: Heather Thuli

Agree with Kevin, unlikely there are specific "laws" touching on it but most likely follows all other real estate laws, codes, etc.  In WA we have RCW (revised code of WA) that outlines laws of every sort.  To be safe, always check with a real estate attorney, a Designated/Lead/Managing Real Estate Broker and/or the department of licensing within the state.  I'm not an attorney and can't give legal advice but I'm curious, is there is a specific issue you're trying to investigate or understand?

It's pretty tough right now. Lots of competition and many are spending thousands/month on marketing. I tend to stick to the outskirts of Dane County, or straight up other counties since competition isn't quite as high but housing demand still is. For instance, I've got an active flip in Dodgeville and my previous was in Portage. Done a few in Columbus as well. 

I'm more of a flipper but have done a wholesale or two in my time. I agree with Steve that connecting with local investors is a must as you get started. Where in the state are you? I'm in Madison and we've got bi-weekly meetups that are free to attend. You'd be welcome to join one of those. Plus the local REIA has quite a few events.

Quote from @MICHAEL YBARRA:

Originally posted by @Britney Miller:

So I'm very new to wholesaling. I literally just found out about it a week and a half ago.

But I'm starting to get discouraged by alot of the negative nancys that don't have anything good to say about it like this one.

I was watching a video on YouTube about wholesaling when somebody replied to me about a question I had.

+Britney Miller

"Oh, and don't quit your job. The faster you get investment money; the faster you'll have your money working for you. A job is the best way to get guaranteed money asap.

The people who do nothing but real estate worked for the first 10 years or so while getting in to it. No doubt. In order to make as much as $35k a year with wholesaling houses you'd have to w-sale a TON of houses annually.

We're talking 12 plus. It takes 2-7months average to whole sale one, and you aren't going to have enough capital when you first start out to be able to wait to close on your deals.

Diversify your real estate as you would any other investment. Rentals, flips, wholesales, and rent to owns. We don't tell the market what we need it to do; the market tells us."

Is there any truth to what this person is saying? Personally from what I've seen most deals close in about 7 days. I'm not sure where he gets 2 to 7 months from. And alot of wholesalers that I've been following are making much much more than $35,000 a year.

Thanks

Britney

 Britney - quit listening to people!!! - ah - it don't work!!   cut the crap!!!  this is no magic pill!! - no get rich scheme!!!  if you work  - the system does work!!! 

We make $100k plus per month in Southern Calif ( 2 flips per month) 

we work our *** off!!! we market our *** off!! we talk our *** off!!

cut the crap!!! it's like the GYM - you work out everyday!!! you watch what you eat every day - SUCCESS IS GUARANTEED!!!   quit listening to losers!!!! 

Michael Rae 

Hello Michael!

I'm in a similar boat with Britney and I'm very curious about getting in on Wholesaling.

I got a few questions as you seem like a pretty invested and  knowledgeable person on the topic, and I'd like to take some tips form a professional.

Do you do mentoring by chance? How long do you typically take to get a deal done? Do you recommend any courses that maybe of actual help, instead of the mumbo-jumbo you find online. And what websites/apps do you recommend using? Thank you!

Aaron D.

I'm more of a flipper but have done a wholesale or two in my time. I agree with Steve that connecting with local investors is a must as you get started. Where in the state are you? I'm in Madison and we've got bi-weekly meetups that are free to attend. You'd be welcome to join one of those. Plus the local REIA has quite a few events.

Hello @Heather Thuli and welcome to Bigger Pockets! If you are seriously looking to get into investing in Wisconsin, I suggest you look into joining one of the REIA's located around the state. You will find a great group of like minded people and the meetings are very informative and enthusiastic. You can find more here: https://www.wiscoreia.com/  Use the location drop down to find the location that is most of interest to you.  Best of luck in your investing future!

Thank you!