Starting Your Real Estate and Wholesale Journey: A Beginner's Guide

If you're just getting into the world of real estate and wholesale, you might be wondering where to start. This guide will provide you with a roadmap to begin your journey, including tips on joining local investment groups, taking courses, and networking with experienced professionals.

1. Joining Local Investment Groups and Clubs

One of the best ways to get started in the real estate and wholesale industry is by joining a local investment group or club. These groups are not only a great way to learn, but they also provide networking opportunities and valuable partnerships.

Find a group that aligns with your values and goals. Involvement in charity events can be a good indicator of shared values. It's essential to take your time to evaluate the group and its members. Participate in events and meet the participants to get a sense of their integrity and expertise.

2. Taking Basic Courses to Build Your Skills

Enrolling in a beginner's course can provide you with the foundational knowledge and skills needed to navigate the real estate market. For instance, a course like Lifestyles Unlimited offers a comprehensive overview and can be a worthwhile investment.

The course includes detailed lessons on buying and selling properties, negotiating, and understanding the real estate market. My experience with Lifestyles is that it educated me on the importance of avoiding the premium programs unless you have substantial capital to invest. This advice is invaluable for beginners.

While courses like Lifestyles offer a lot of value, it's important to also educate yourself through various resources. Listening to podcasts can be an excellent way to gain insights from experienced investors. The Bigger Pockets Podcast, for example, features interviews with real investors who share their strategies, successes, and failures.

3. Real-World Experience Through Practical Applications

Joining local business clubs and attending events can help you connect with others in the industry. After about six months of involvement, you should have a good idea of which members are genuine and which are not. Pay attention to those who actively participate in charitable events, as this can be a good sign of their commitment to the community.

Here's a breakdown of my journey:

Through participation in a business club for 7 years, I co-sponsored an event. Another co-sponsor purchased several apartment complexes and invited me to get involved in one of their deals. Using the knowledge from Lifestyles Unlimited, I evaluated the deal and now receive quarterly checks from the rent. I also got involved in delinquent tax lien properties with the help of the co-sponsor. Tax liens offer steady but sporadic returns, and the experience taught me about the system, even helping other wholesalers find opportunities. I purchased a duplex with another club member who operates a charity for the homeless. I hold the mortgage and collect regular monthly payments. I am currently working with a local real estate club member who rehabs properties and sells them to investors. I hope to acquire 5-8 properties from him over the next three years.

By putting in the time and effort, you can duplicate or even surpass these results. Real estate and wholesale investing can be a challenging but incredibly rewarding career.

Best of luck on your journey!