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We don’t know how far along you are in your own Real Estate business. We are often approached by people wanting to get into the game of RE Investing and they don’t know where to start. There are a few things that will determine where you will be able to start. The most important being your financial situation.
Some people that we meet are total newbies and have no savings whatsoever. If this is the case for you, then you need to start wholesaling properties first. This will allow you to build your cash reserves so that you can move on to fix and flips, and then buy and holds. Once you have 10 t0 30k saved up, you will be able to do your first fix and flip with the help of a hard money lender, depending on the size of the rehab. There are a lot of “Guru’s” out there that will charge you an arm and a leg to learn how to start wholesaling properties. Truth is, there is a lot of great free information across the web to help get you started. Here are a couple of examples of some good videos that explain how to Wholesale Properties so that you can be on your way to making a really good living in Real Estate:
Cody gives a pretty good break down of how it works. Kent Clothier is also another great source for learning about Real Estate Investing:
Now you know the basics of wholesaling properties. The next thing you can do to really get you business going is to join your local REIA (Real Estate Investor Association). If you live in or near a large city, chances are there will be several that you can join. Every REIA we have ever attended has been a wealth of information! You will almost always be able to find other investors that are very busy with their own business and will be more than happy to help you steer you in the right direction to get started. You can probably also find an investor that will be able to coach you at a far better and reasonable rate than some of the National “Guru’s”. It’s really up to you, and most of all, Take Action! |