How to Start Wholesaling Real Estate | Blueprint for Beginners

Abel Ramirez went from waiting tables to building a six‑figure wholesaling business. By combining persistence, learning, and the right tools, he proves that beginners can quickly succeed in wholesaling real estate.

Here’s how you can follow his path step by step.

Why Wholesaling Real Estate Works

In 2020, Abel lost his restaurant job during the pandemic and discovered wholesaling real estate.

Wholesaling involves finding distressed properties, getting them under contract, and assigning the contract for a profit.

It's perfect for beginners because you don't need large amounts of money upfront, and deals can close quickly.

Advantages of Wholesaling Real Estate:

• Low upfront costs – No need to buy the property yourself.
• Fast returns – Deals often close in weeks.
• Skill-building – Gain experience in marketing, negotiating, and managing contracts.

Abel’s first wholesaling deal brought in $7,000, validating wholesaling as a profitable business model.

Step 1: Research and Identify Opportunities

Abel began wholesaling by driving around neighborhoods looking for distressed houses—a method known as driving for dollars. He identified motivated sellers by noting properties with signs of neglect.

Steps You Should Take:

1. Start driving for dollars – Identify properties needing repairs or maintenance.
2. Research property owners – Use online tools or apps to find property details and contact information.
3. Analyze your local market – Know average home values, comparable sales, and typical buyer profiles.

Step 2: Educate Yourself and Find a Mentor

Success didn't happen overnight. Abel invested in his education by attending courses and connecting with experienced investors.

Mentorship significantly improved his ability to negotiate and structure profitable deals.

How You Can Do the Same:

• Attend local real estate investor meetups.
• Join online wholesaling communities and forums.
• Seek mentorship from experienced investors who consistently close deals.

Step 3: Master Cold Calling and Follow-ups

Abel found success through consistent cold calling, which involves reaching out to property owners directly using skip tracing to find their contact details.

Using tools like Dealmachine’s dialer, Abel dramatically increased his outreach and deal volume.

Practical Steps for You:

• Develop a clear script for cold calls.
• Set daily cold-calling targets (50–100 calls per day).
• Regularly follow up, even if initially rejected.
• Track your call results to measure progress and refine your strategy.

Step 4: Learn Proper Contract and Legal Strategies

Initially, Abel’s contracts lacked important details like earnest money deposits and due diligence periods. After consulting with real estate attorneys, he improved his contracts significantly.

Contract Essentials:

• Include earnest money to show seriousness.
• Add a due diligence period for inspections and title checks.
• Clearly outline assignment terms in the contract.
• Consult a local attorney to ensure compliance and protection.

Step 5: Use Technology to Scale Your Wholesaling Business

Abel significantly increased his assignment fees, sometimes reaching over $26,000 per deal, by leveraging technology. Automated dialers, CRM tools, and lead-tracking software allowed him to handle more deals efficiently.

Recommended Tech Tools:

1. Lead management software (like Dealmachine).
2. Automated skip tracing for quick contact information.
3. Dialer tools to efficiently manage cold calls.
4. CRM systems to organize leads and automate follow-ups.

Step 6: Set Goals and Enjoy Financial Freedom

Wholesaling real estate enabled Abel to replace years of restaurant income within one year. This financial independence gave him the freedom to travel and live stress-free.

Goals for Your Wholesaling Journey:

• Set monthly income targets from wholesaling assignments.
• Reinvest profits into education, mentorship, and technology.
• Enjoy the flexibility and freedom of being your own boss.

Key Takeaways

FAQ

How much money do I need to start wholesaling real estate?
You can start with less than $1,000, mainly covering marketing, skip tracing, and earnest money deposits.

Do I need a real estate license to wholesale properties?
Generally, no. However, some states have specific regulations, so check local laws.

Can I wholesale real estate part-time?
Absolutely. Many investors begin wholesaling part-time alongside their regular jobs.

What's the difference between wholesaling and flipping?
Wholesaling involves assigning property contracts quickly for a fee, whereas flipping requires buying, renovating, and selling properties.

Abel Ramirez’s story demonstrates that wholesaling real estate is an accessible way to generate substantial income quickly.

Start your journey today by following these actionable steps and build your path toward financial independence.