Wholesaling Real Estate: Getting Started In Spite of Your Fears

Greetings everybody-I’ve got a brand new Wholesaling Real Estate Q&A video for ya today!

In this episode, I give some advice to Allison- a novice wholesaler who desperately wants out of her 9-5 job, but isn’t sure if this wholesaling stuff really works or if now is a good time to jump in.

Check out the video below and hear my take on the fears that have been holding her back from getting started…

Enjoy the video and have a fabulous afternoon!

-Steph :)

  1. On June 10, 2016 at 3:09pm, maria said...

    I Steph I was the video and my problem is getting started I am in chicago ill and I don’t their to get started what can I do to go and start doing this I have seen a lost of videos and webinars on my computer but to go out there to do is a different stories and I think that onces i start in nobody will stop me but to get started ?????

    • On June 17, 2016 at 8:39am, Stephani said...

      Hi Maria,

      I would start with heading to your local REIA meetings and connecting/networking with some of the active investors and wholesalers in your area. I also recommend finding some active cash buyers in your market (you should be able to find some at the REIA meetings) finding out what neighborhoods they are buying in and what type of deals they are looking for. Once you’ve chosen a few neighborhoods to work in, spend some time really getting to know the values in those neighborhoods: what properties are selling for retail and then what prices investors are paying for properties in those areas. Once you have a good “feel” for the neighborhood, then start marketing for motivated sellers.

      I have a ton of videos on YouTube about getting started that you can access for free, or if you’re looking for a more step-by-step approach, I’d recommend picking up a copy of my Quick Flip Ninja training (www.quickflipninja.com). It’s about five hours of video training where I walk you through the entire process of wholesaling- from choosing a farm area to building a buyers list, to analyzing deals, writing up the contracts, finding an end buyer, and then getting the deal to closing and getting paid.

      I hope that helps!
      Steph

  2. On June 10, 2016 at 4:07pm, Mark said...

    Hi Steph,
    I own an investment property in a bad neighborhood and can’t sell or get funds to pay taxes & repair it. Even though I have a tenant that pays on time each month. It has a positive cash flow of $8,600 a yr. Please, can you help me?

    Signed, Mark

    • On June 17, 2016 at 8:42am, Stephani said...

      Hi Mark,

      What have you done to try and sell the property so far? Where is it located, what is it worth, and what do you owe on it? How much are you getting per month in rent and what is your monthly PITI? How bad is the neighborhood?

  3. On June 10, 2016 at 4:49pm, Damian said...

    Hi,
    I’ve watched alot of your videos, my story is similar, but i need help. Trying to get help in wholesaling. Can you please email me back I have a few questions. Please and Thanks you
    I really want to do this

    • On June 17, 2016 at 8:45am, Stephani said...

      Hi Damian,

      Here on the blog is the best place to ask questions. There are probably others who have similar questions who can also benefit from the answers. :)

    • On June 17, 2016 at 8:50am, Stephani said...

      Hi Ray,

      The best way to find a good investor-friendly title company in your area is to ask around for a referral. If you haven’t been to your local REIA yet, I’d highly recommend doing so. A lot of times they will have a closing attorney or title company that they recommend. Or make some calls to some of the active investors/wholesalers in your area and ask them who they use. That’s how I found my title company when I was just getting started.

      The closing fees will vary by state and depend on who you are using, but keep in mind that the title fees will be taken out of your profits at closing, so you generally won’t have to come out of pocket. If you want to know specific numbers regarding how much title searches and closing fees will be, just give them a call once you get a referral and ask for a ballpark estimate.

      I hope that helps,
      Steph

  4. On June 17, 2016 at 12:37pm, Mark said...

    Hey Steph,
    I’ve tried soliciting investors and listing the property on Craigslist. No one is interested :( the property is located in Detroit, MI and there are a few abandon homes on the street. My rent or has been paying $725 a month religiously on time for years. The house is free and clear but in owe some back taxes.

    • On June 17, 2016 at 1:51pm, Stephani said...

      Thanks for the info, Mark.

      Do you know what the property is worth in its current condition and how much you owe (ballpark) in taxes?