All Forum Posts by: Jim Pellerin

Hey Everyone,

I'm doing some research for a program I'm working on and would like to ask everyone the following question.

What's the biggest challenge(s) you have as a wholesaler or starting out as a wholesaler?

Here are some suggested answers but feel free to add your own and expand:

1. Finding qualified buyers

2. Finding deals / motivated sellers - also finding owner's contact info/skip tracing

3. Talking to motivated sellers

4. Working with contracts - where to get them, which one's to use when

5. Analyzing a deal - finding comps, calculating ARV, estimating rehab costs, determining if it is a good deal

6. Managing everything - using a CRM, managing my leads, managing my lists  

Any info would be greatly appreciated.

Jim

@Cooper Almire There is always a demand for good deals. focus on getting good deals.

 @Ana Franchi what are looking to accomplish? Are you looking for short-term or long-term? Do you need cash on cash return or ok to wait for long-term equity growth? 

Hey @Diara Campbell

Like most new investors, don't be in too much of a hurry to acquire or own real estate. This causes you to buy overleveraged using different financing strategies which allows low down-payment, fr example.

There are lots of income-generating real estate strategies you can use to build up your investment capital. I would also look at getting additional capital to allow you to purchase much larger properties.

@Alex Sanchez Post it in the classifieds on this site. Also, make sure your numbers are accurate. I think this site has a calculator that you can use. Make sure you are conservative with your rents and overestimate your expenses. Make sure you allow for management, maintenance and vacancy. Usually it's about 5% each.

Do wholesaling until you earn enough to invest.

 a lot of competition

 @Dashawn Anderson Start with wholesaling. You are flipping contracts without any risk.