New RE Wholesaler from Chicago Here!

Good Evening all, I am an 18 year old Real Estate Wholesaler in Chicago, and I have just started back in January…I am working on finding sellers, as well as building up my buyers list…I am working with a Wholesaler at the moment, who is in need of some buyers for the properties he has under contract…I have also finally found a good Title Company to work with as of today…just need to put together that last magical piece of the puzzle…and I’ll have my first deal…In the meantime, gotta get back to the grind! :smiley:

BTW, I’ve got $5 in my pocket right now, and I’m THHHHIS close to it, I haven’t gotten any contracts under my name just yet…but…the money will be used to get my own place and bankroll other business ventures…

Welcome.

What else are you doing with your time? Do you have a day job or some other way to make money while you hunt down deals? Something to pay the bills between the deals?

Welcome back. A lot of people have been coming back to the market lately. Finding the title company should not be hard. The challenge will likely be finding good cash buyers and a reliable hard money lender who can fund the deals. If you find great deals and link the deal to the money you will be able to wholesale again. I think we will see a resurgence of wholesaling over the next few months… welcome back.

Jim

[QUOTE=jimingersoll;884124]Welcome back. A lot of people have been coming back to the market lately. Finding the title company should not be hard. The challenge will likely be finding good cash buyers and a reliable hard money lender who can fund the deals. If you find great deals and link the deal to the money you will be able to wholesale again. I think we will see a resurgence of wholesaling over the next few months… welcome back.

Jim[/QUOTE]

Haha, thanks, I haven’t been checking the forums as often as I should have. I have recently found a Title Company so I’m good on that one…I just need to work harder on these deals…

[QUOTE=ashj1893;884180]Haha, thanks, I haven’t been checking the forums as often as I should have. I have recently found a Title Company so I’m good on that one…I just need to work harder on these deals…[/QUOTE]

Any answer to my earlier question about other sources of income?

[QUOTE=John_Corey;884191]Any answer to my earlier question about other sources of income?[/QUOTE]

Oh, I don’t have any source of Income at all…I’m still forming this first deal to start myself off…And to everyone here, a question…

So it turns out these ARV’s, are usually VERY incorrect when mentioned by the sellers…so since I don’t have a car to do it myself, I would need to have an Agent do CMA’s for me, so how would I go about finding an Agent willing to do this for free? Aren’t I wasting their time? Keep in mind I’m only a Wholesaler atm…

[QUOTE=ashj1893;884334]Oh, I don’t have any source of Income at all…I’m still forming this first deal to start myself off…And to everyone here, a question…

So it turns out these ARV’s, are usually VERY incorrect when mentioned by the sellers…so since I don’t have a car to do it myself, I would need to have an Agent do CMA’s for me, so how would I go about finding an Agent willing to do this for free? Aren’t I wasting their time? Keep in mind I’m only a Wholesaler atm…[/QUOTE]

Before I say anything I want to start by stating I am only saying this for your benefit.

First, if you don’t have a car or any money than do yourself a favor and start working, save some money, and then focus on wholesaling. You need money to make money in real estate. I know people selling courses like to make it sound like you can get started for nothing. Well those people are just trying to sell you a course.

Without money how are you going to market to sellers? Craigslist? That won’t get you very far. You need money to mail owners, put out signs, ect… So like I said, get a job and save some money and then dive into investing.

Second, real estate agents aren’t going to work for free and they shouldn’t be asked to either. You can do your own comps for free, don’t expect an agent to ever do them for you. If you want an agent to help you out than you need to prove to them you are for real. Agents will go out of there way to help you out once you start performing and actually start doing deals.

[QUOTE=Nick Richardson;884347]Before I say anything I want to start by stating I am only saying this for your benefit.

First, if you don’t have a car or any money than do yourself a favor and start working, save some money, and then focus on wholesaling. You need money to make money in real estate. I know people selling courses like to make it sound like you can get started for nothing. Well those people are just trying to sell you a course.

Without money how are you going to market to sellers? Craigslist? That won’t get you very far. You need money to mail owners, put out signs, ect… So like I said, get a job and save some money and then dive into investing.[/QUOTE]

I’m not getting a job and saving money JUST to do wholesaling. It’s not worth the time spent given my dire personal situation…and I’m not explaining myself it’s purely personal…and other professionals need not know…I do have money coming in, but not from a 9-5 or anything of the sort. I’m aware of guru’s selling courses on how you can start from nothing…which I still believe is possible, just highly unlikely…it doesn’t matter whether or not a person has a ton of money for mailing out letters that usually don’t get read…what matters is the creativity of the individual…the ability to create something out of nothing…which I am a living testament of in this business, considering I just got my first deal done today as a matter of fact, with no money placed into marketing or the like…

And second, I have come to the conclusion that Agents generally charge something to do comp sales, or will work with you given you have a proven track record…so I guess I’ll have to do my own comps the hard way…