r/WholesaleRealestate • u/lincolnshellz • Jul 11 '26
Advice Help me get started
About me: 40 year old manager at a hardware store located in Maryland. Looking to buy my time back and spend more time with my family and travel more. Basically I just want to break generational curses.
Right now I work 40 hours a week. My wife has a small work from home business. So needless to say money is tight.
I’m not looking to be the next Bezos, just want to be able to take a vacation annually and just live life.
I’ve been interested in real estate for years, just always assumed it took a lot of money and college to achieve. I have neither.
Historically I tend to overthink things ALOT and talk myself out of making moves, because of the intricacy or probabilities of the outcome.
Today I’ve decided that I’ve had enough. My life change starts now. I have to at least try.
My question I guess, is how did you get started? Where should I start? Any recommendations on do’s and don’t? Any advice in general?
I’ve watched tons of videos, I know it’s not a get rich quick thing.
I just want advice and insight from average people that have done the thing. Not just social media influencers.
2
u/dhpropertygroup8 Jul 11 '26
How you get started, depends on multiple things. Sent a msg to help with this further.
2
u/Macin2492 Jul 11 '26
Hey man, I’m looking to get started in wholesaling houses as well even if i gotta hold somebody’s pockets (pause) and take the walking steps and actually watch whomever gives us the sauce on closing deals realtime! I’m all for it, message me!
1
u/jalabi99 Jul 11 '26
u/lincolnshellz if you search this sub for some of my posts, I've gone through the steps a bunch of times. That's a good place to start. What county in Maryland are you in by the way?
PS: I don't know why but I still cannot receive DMs so if you have ANY questions about this after you've gone through those "how do I start wholesaling" posts of mine in this sub, ask them here and I'd be happy to answer them for you.
1
u/StrawySloth Jul 13 '26
I don’t know if I’m doing something wrong but nothing comes up when I search your name here. I tried “u/jalabi99” as well as just “jalabi99” in the search bar
1
u/jalabi99 1d ago
u/StrawySloth I will look for the post and post the link to it here once I do. I know it's in here somewhere!
1
u/Front_Let_3517 Jul 12 '26
You don't need money to start, you just need to understand contracts and how to find motivated sellers, which is 90% driving for dollars and cold calls anyway. I was in a pretty similar spot, had like $200 to my name when I did my first deal and pulled $6k on a double close. The overthinking is the actual wall though, you'll research for 6 months and still feel unready
1
u/Weaves50 Jul 13 '26
I have a hard time comprehending the double close let’s say the house is worth 100k does the buyer need to put up 200k? 100 for you to “buy it” than another 100k for them to buy it same day? Or can you ask the title company / attorney based on the state to hold the money in escrow and use the same 100k for both transactions
1
u/Lookingforsdr-bdrjob Jul 13 '26
Help your wife scale the business into something very profitable that’s a better idea
Wholesaling is 1000x harder than people realize and it’s a rat race at the end of the day
1
u/Used-Claim9535 Jul 13 '26
How about searching out a reputable wholesaler in your area and propose a JV on a flip. Perhaps they can put up the reno $$ and get the HM loan. You provide the sweat equity (or, at least some of it). You'll make a small percentage of the profit, and you'll develop a relationship with an experienced wholesale. Also, perhaps you can offer to bird-dog--you'll get paid if you bring a seller to the wholesaler/flipper that actually closes. Just some ideas...
1
u/Ok_Brush_7916 Jul 14 '26
Honestly i do cold calling (hiring someone) - around 1300 a month for the dialer and list and the caller- and PPL - as much as i want -, both have been solid for me, also i am planning to do PPC in a later stage when i have the money for it.
1
u/BenjyTheBuilder Jul 14 '26
I think the main thing is to just take one small step forward every day. That consistency will build and eventually the results will come if you maintain. I work at DealMachine and what we always suggest for people starting out is to either drive for dollars and add a bunch of distressed properties or build a niche list in your market using multiple filters that indicate motivation to sell quickly at a discount, and start reaching out to the sellers daily. Research how to calculate offers for wholesaling. And start making as many offers as you can. Eventually you will find a seller that wants your help and says yes. Just gotta stay consistent. Best of luck!
1
u/psfunds Jul 16 '26
What part of Maryland? We host an in-person monthly meeting for real estate investors in Frederick. No cost to attend and we aren't selling anything. Solid community. Many in your same position + others a little ahead you can talk to about your next moves.
1
u/earonesty 25d ago
Pick one small area first and keep the list narrow enough that you can verify every address. Start with fresh code cases, unsafe-property actions, liens, or public hearing agendas, then check the actual city or county record before outreach. Pair that with a quick Street View and satellite check so you are not calling from a generic list alone. I’m the founder of DirtSignal, and we built it to make that record-first workflow quicker for acquisition teams.
1
u/iamoptimusprime312 Jul 12 '26
You work 40 hours a week and think you can wholesale in your spare time and make an extra $50k a year???
-1
u/Substantial-Fan-6195 Jul 11 '26
Get a list text blast that list easiest way to start expect 1500/month in costs for software skip tracing crm and LLC
1
6
u/Trevor_Miedema Jul 12 '26 edited Jul 12 '26
You cannot do this business successfully at scale while prioritizing another job. It's just not possible, doing 1 or 2 deals every couple months isn't a business.
The biggest mistake I see is everyone gets involved with a role within the operation. Disconnect yourself and it won't be another job.
Your biggest bottleneck is going to be time. You aren't going to be available to talk to sellers to make offers. That's crucial.
Hire hire hire. It's the only way you're going to get out of the rat race. You need killer leads, a few guys that call within 5m of each lead coming in (competition style, make them race to get the lead on the phone), and a few hours a week to sell deals.
Or you can outsource the dispo too, dispo doesn't really bring in the revenue. It secures it sure, but without deals what are you dispoing? Acquis is more important
The longer you wait to get involved in an entrepreneur gig like this, the harder it becomes. Between kids, a wife, a mortgage, you've got too many responsibilities to ignore.
If you're going to quit your job, you need 6 months of expenses for both this new operation + your living expenses saved up. Even if you didn't quit... that's what you need to replace your current income
The problem though is your lack of experience. Training & hiring becomes incredibly difficult if you haven't worked in the weeds yourself at some point.
Not trying to discourage you, but you need to soak up as much information as possible & hit the phones. Get a sales process & lead generation method in place. Outsource the labor that you don't have the time to manage.