What do you need to get started in Real Estate Wholesaling?
What do you need to get started in Real Estate Wholesaling?
Wholesaling updated 4 months ago

What do you need to get started in Real Estate Wholesaling?

Wholesale real estate can be difficult. The whole process needs attention to details, understanding the process, market, and connection.

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Wholesale real estate can be difficult. The whole process needs attention to details, understanding the process, market, and connection.
 

While it is low-risk compared to other forms of entering into real estate investing, not being prepared is a surefire way to end up with a property you didn’t expect to purchase. So, before we get into the process steps, we should cover the groundwork.
 

The first question to cross your mind is likely going to be whether or not you need a license. The short answer is no. While it’s certainly helpful, it is not necessary.
 

However, a license will give you access to the MLS that shows listings before reaching the public. Considering you are looking for properties listed below market value, that’s a powerful tool to have.

Regardless of whether you have a license, networking is also an essential tool. Your goal here is to establish connections with industry professionals whereas a Realtor would want to make these connections in addition to home buyers and sellers.

Lawyers, lenders, title companies, other agents, and even movers are sources from which you can gather information on homes going up for sale. They can also help point you in the direction of buyers who are just as essential to building connections.

But networking will only get you so far. You also need to develop a comprehensive understanding of the market. It is important to know what properties are desirable, what the average prices are, and who the buyer is to ensure your success.

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