Wholesaling Homes A Great Place to Start Real Estate Investing
So where do you start in real estate investing?
Owner Financing Houses?
SFRs? Duplexes? Apartments?
Short Sales, Foreclosures? Pre-Forecosures?
Where do I get the money??? It can be overwhelming.
I think that everyone should start by WHOLESALING.
“Finding Deals” and contracting them up so that other mature investors in your area can take them over for a fee.
The average wholesale deal in the middle to lower price range (up to $100, 000 wholesale price) nets the wholesaler about $5, 000.
More expensive homes can wholesale for much higher.
Here are 10 reasons why I think you should begin your creative real estate investing career by learning the art of wholesaling:
1. Very little money necessary.
2. You’ll get to know the best investors in town (great networking)
3. You’ll learn the language.
4. You’ll learn to leverage technology and how to incorporate List Building, Mass Emailing and Mass Texting
5. You’ll learn how to contract deals with “Time” to close.
6. You’ll put some money in your pocket.
(Silence your critics)
7. You’ll gain tremendous confidence!
8. You’ll prove to yourself YOU can find great deals.
9. You’ll learn that great deals attract $$$ from private lenders
10. Learning to wholesale deals will provide a solid foundation necessary before you take the natural 2nd step: to do the deals yourself and make the bigger profit.
I say, become an expert at finding deals directly from the owners. This is where the real deals are made: with the real owners. Get off the beaten path
I say, wholesale 10 deals and bank as much of that money as possible.
I say, get a job working in the RE industry and do wholesaling part time until you bank a years worth of income…keep your overhead low…then go full-time.
Keep it fun.
I think my book My Life & 1000 Houses is a great place to start. It is the perfect Real Estate book for you to begin your adventure.
You’re going to learn you are not alone; we’ve all been overwhelmed in this business one time or another. There is so much opportunity. Live and learn.
Pick one tiny niche and become an expert.
I say start with wholesaling because if you can learn learn to profit in real estate with little to no money of your own, then you’re off to a great start!