Wholesaling is my planned activity to help build capital for investing to move forward with my BRRRR investing. I was just wanting to know if there was any possible way to expedite my initiation into it. Thank you for the replies. I am actually scheduled for a small REI meeting in Atlanta on the 24th for wholesaling and such. I'm pretty excited.
I have no money to contribute at the moment, but I could definitely work my hungry little butt off for someone in exchange for education for my improvement.
From what I just glanced at, there isn't much rent info I can find for Calhoun, but for the city over in the same county, SFH seem to be in the lower 100k's (anywhere from 110k to 160k) and 3b/2 are renting for around 1100/1300. This is just from a glance.
What originally got me thinking about investing was a triplex on zillow for 90k. I know I can get that, but with an FHA, which means I'd have to live in it, and my family won't fit in the open unit. I can't find out what it rents for, but judging by the looks of it in the pictures, it wouldn't be much. maybe 450 per unit. At least the consumer part of me thinks that would be fair. There isn't a good description either. But anyways, that thought led me to learn more and ultimately, I found this whole new magnificent world of other people who have accomplished my idea. Then I did research and found out about wholesaling to raise capital and I'm now basically obsessed with the idea.
I plan on investing in rentals anywhere I can find a place from Calhoun to Atlanta where it makes sense, but am starting a Direct Mail campaign soon to Cobb county. around 1000 letters to absentees with high equity and also 1000 to absentee free and clear. A basic list since I am unsure as to what exactly to look for. I'm also going to VLookup those two lists in excel to make sure I don't have duplicates before using Click2Mail.
I will start one for Rome as well due to 2 people on BP recently connecting with me looking for deals there. Also it's way closer of a drive for a start to wholesaling while working such random long hours in the food management industry.
When I go to REIA meetings, I hear of investor activity happening closer towards Atlanta so I decided to use that info and change my criteria.
I was trying out RealeFlow to generate a lead list, but can no longer afford its monthly subscription. My mental deductions stated that paying for a Pro Membership on BP was more productive than LeadeFlow. Plus, I just dont understand how to match up criteria that I hear on podcasts and interviews with the lead lists with RealeFlow. I'm going to buy a few lists from ListSource once I figure out through research where to put my money. Then mail the crap out of them. My wife and I handwrote 50 postcards last night and sent them out this morning to property I pulled up on Realeflow with High Equity Absentee SFH with ownership from 2007. I picked up the ones with a higher estimated market value with lower LTV percentages.
I want to gather more info on what exactly I need to be looking for, so I'm going to try to network with a few wholesalers asap.
My ultimate goal in REI is to be able to quit the restaurant industry, work like a dog until I can acquire the passive income I desire, and watch my daughter grow up through being there and not through text messages of pictures because I work 13 hours a day.
I know it will be hard. I know I'll have to figure things out by myself sometimes.
I really appreciate your replies and how quickly they came. It makes me feel less alone while starting out. Like BP actually fulfills its networking promise.
