All Forum Posts by: Matthew McAlarney

Wholesaling is definitely a learning process. Trial and error is your biggest teacher. A lot of things depend on who your targeting and what area. Suggestions and advice are always helpful, but what works for someone else may not work for you. You have successfully got properties under contract so you are doing something right. Buyers will back out from time to time, its part of the game. Just keep grinding and you will get there. Good Luck!

I am an investor in the area . Most people are scared to take the leap on that first property. As long as the numbers work , go for it. Its always good to have some reserves for surprises too. Or at least put aside money every month just in case.

Im looking for one right now as well. I will post on this thread when i find a good one.

There are a few reasons why . One is wholesale deals are done typically with cash or hard money. Which makes it a lot easier for a quick closing. Waiting for someone to get approved for a bank loan can take months. There is carrying costs for the home as well. Thats a few more months your paying a mortgage and taxes.  If there is an emergency and they cant wait three-four months they might go that route. Also, if you list with an agent you will be typically paying 6 % commission (In northern NJ). That s an expense they wont incur with a wholesaler. They might be trying to avoid foreclosure and messing up their credit. Most of the time if people need to sell fast ,they will rather go with a wholesaler that might get them cash in as little as 2 weeks.

Welcome to BP!! Im looking  to make that transition as well. I am a wholeslaer in the are maybe we can help each other achieve that goal. Feel free to PM If your interested in exchanging some ideas.

What areas are you looking to invest in @Alex Trastelis. Are you interested  flips, or buy and hold properties?

Are you looking to invest in only certain areas. Have you considered Multi-Families?

The best advice i can give you is learning from your mistakes. You can read as many blogs and articles you want , but the best teacher is experience. It's very asy to get analysis paralysis In the real estate business. There are so many aspects of the business, and new ideas everyday. Sometimes you have to just go for it, and learn as you go. I am fairly new to real estate but would be happy to share my experiences. Pm me If there is anything you want to discuss.

Ive been investing in the jersey city for almost two years.  PM me if you are interested in the area , and i can share my experiences with you.