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Thanks for the reply, Ryan. 300 seems like a big list, I better get started!

If you don't mind additional questions - how long did it take you to get the list together? Did you sign up the majority of investors at REI club meetings by networking, or answering "I Buy House" ads, or other means?

This is very helpful information, I really appreciate it.

30 views and no replies? Someone has to have a buyers list out there - this is a wholesaling forum! :D

I'm sure an easy answer is - as big as it needs to be! But seriously - out of all of the deals you wholesale, how many serious buyers do you have for the homes you locate? What percentage of houses go to what percentage of buyers on your list? How many seem serious and then waffle out once you find them a property that meets their criteria?

Curious to hear people's experiences with this topic...

THanks

Thanks for the reply and info, John. I wanted MLS access to be able to run accurate comps and supplement my property searches via marketing.

I think your last statement may be the way to go.....I don't currently have any realtor friends but maybe I could work out an arrangement with one somehow - off the record. I'll make a few inquiries.

Hi all

Is anyone accessing the MLS without a license in IL? I was about to apply for mine just to access the MLS but from doing searches on here it appears that it will conflict with my wholesaling activities. Plus you need a broker to sponsor you to get a subscription, if I understand correctly, so you need to be actually working as a realtor vs. just getting the license.

I was wondering if anyone found any other methods to do so or not, specific to my state (Illinois)

Thanks

Paul

That's a very good point. I'm going to do a lot of networking at WCRT and REI club meetings (and on here!) to get a buyers list together and then spend the funds I was going to use for rehabs to do a lot of marketing for properties to meet my buyers' criteria.

I'm going to build my brand on customer service, as you said - find out my buyers' requirements and then exceed them. I want to become the go-to guy so that when they look at a deal I'm sending them, they know it's going to be a good one before they even look at the details.

Thanks guys. All of you bring up very valid points.

Since making my initial post, I've decided to pursue wholesaling as an entry point and then use the proceeds as down payments on single family homes that I will buy and hold as rentals. I do have enough to fund my first rehab but as mentioned, the market around here is very, very slow and I'm seeing a lot of houses sitting on the market with price reduction after price reduction.

I could use the funds as down payments on rentals right now but if I tie it up in the homes I won't have any room in my personal budget to take care of vacancies and maintenance costs. I need a bigger cushion.

My thinking is that I will gain valuable experience identifying deals and seeing them through so that when it comes time for me to pull the trigger on my own deals, I'll have a solid base of experience to work from. And I'll get a great education from investor clients who will tell me in no uncertain terms why they do or don't want the deals I present.

My thinking is that by jumping right into rehabs, I might be skipping a few steps on the ladder that I need to take to build a solid foundation. I should channel that initial energy and excitement into finding the deals.

Hi and welcome

I'm new to this board as well and trying to learn as much as I can on here, I've found the members to be very friendly and willing to help. This is a great resource.

Aside from the board, I've found that some cost effective ways to get educational materials are doing searches on ebay for real estate courses - you can get the names of quite a few by doing a search for "recommended books" and similar searches on here.

For example, I just bought the $600 Vena Jones Cox course on ebay for $60 with shipping. You can save a lot of $. Try looking for listings that close late at night or on Sundays when other people are not likely to bother to stay up late or be online.

I happen to have a large and well stocked library near me and they have just about every real estate book I could ask for available for free. You may not be as lucky depending on your location, but if you need to purchase books instead of getting them a library, try amazon and do a search for the names of real estate books you find on this board. Often used dealers are selling the same book on the same page as the brand new Amazon version. You can buy the same book for a few dollars that would cost $25-$50 new on Amazon.

You may know all of this already, I just thought I'd mention it since I'm on a tight budget myself and I've used the techniques above to still get the information I need.

Again, welcome and best of luck with your investing!

Paul

Hi Jon

I'm also located in Schaumburg (Hoffman Estates, actually) and getting into investing myself. Nice to meet you. Please let me know if there's any local resources or info I can pass along - I'm definitely not an expert or anything (yet!) but I've gathered up a lot of information and maybe some of it would be of use to you.

Welcome aboard!

Paul

Hi James, absolutely, this is a great site - I've learned so much valuable information on here already and made some great contacts. I'm looking forward to attending REI and WCRT club meetings as well.

Thanks

Paul