Get Started

What’s The Best Way To Get Into Real Estate?

cody hofhine real estate wholesaling wholesaling Apr 28, 2021

Real Estate 101: The Best Way to Start Making Money In Real Estate

Want to get into real estate, but don’t know where to start? This short blog will change that fast.

Like you, I went through the gamut of emotions before I got out of insurance and into real estate.

There are almost too many options: Wholesaling, flipping, landlording, and more. The truth is there are legitimate reasons to be excited (and skeptical) of each. 

Plus, everybody has an opinion. Guess what: I do too (lol). But I’m uniquely qualified to share mine for two reasons

  • I’ve done all of the above. And I’m still in the game today. My business does about $3.5M in deals a year. Most of that comes from wholesaling real estate, but I’m personally involved in fix and flips and rentals, too.
  • I started from scratch. When I got into this, I was dead broke. I didn’t have any education or experience and I still don’t have a real estate license. I’ve made my living on ambition alone—and you can too.

 

Keep scrolling for an uncensored look at the many ways to get into real estate—and the best way for newbies to get a foot in the door.

 

Wholesaling vs. Fix & Flips vs. Rentals: Where Should I Start?

I place every opportunity in real estate—and life, for that matter—into 1 of 3 categories:

Good, better, and best.

Take a look at how this applies to real estate, then I’ll tell you why.

  • Good: Rentals.
  • Better: Fix And flips.
  • Best: Wholesaling.

 

 

The Real Truth About Rentals

Just about every real estate investor will tell you the same thing: You don’t start with rentals. You work your way up to them. 

Because rentals require a ton of cash and near-flawless credit. 

If you’re new to real estate, rentals are just distractions disguised as opportunities. 

 

The Real Truth About Fix And Flips

Many flips end up being flops. 

While TV glorifies “flipping” as an easy sport anybody can dominate, it’s actually a high-risk game ruled by uncertainty:

You need deep pockets to get in the game. And even with all the money in the world, you never quite know what you’re in for. 

Most people don’t realize you’re stuck footing the bills on everything, including:

  • Acquisition costs.
  • Repairs and upgrades.
  • Contractor fees.
  • Property taxes.
  • Property insurance.
  • Utilities. 
  • Marketing and sales costs.
  • Closing costs.
  • And more.

According to a 2021 report from Attom Data Solutions, it takes an average of 181 days (!!!) to complete a flip.

In other words, you need to cover all of those costs for 6 months, then hope the property sells fast at a price that turns a profit. It takes a lot of work, a lot of stress, and some serious luck.

The truth is most “flippers” end up borrowing money from friends and family, spend way more than they intended to, and get hosed by contractors due to their own inexperience.

Your better bet is to get your feet wet in real estate through other means—and make a few bucks to protect yourself—before you start flipping (in case you’re interested, here’s more on flipping).

Want more proof? Here’s some flipping horror stories that might just scare you straight.

 

The Real Truth About Wholesaling

Wholesaling is hands down the best place for every newbie to get started in real estate. 

Why? 

You don’t need any cash, credit, or experience. You never actually buy a home (sounds crazy, but it’s true). And all it takes is a tank of gas, a few marketing dollars, and some ambition to close your first wholesale deal

You’ll make up to about $15K on that first deal. And if you follow my model, you can make it happen in as little as 30 days (even if you don’t know a thing about real estate). 

Not bad, right? Let me break it down for you...

 

5 Definitive Reasons Why Wholesaling Is the Best Way to Get Started In Real Estate

  1. You can get started with just a few hundred bucks. Sometimes even less. I show you how here.
  2. You don't need a license: And you never will.
  3. You can pick it up fast—and profit faster: Many of my students close their first deal within their first 30 days. It took me 39 days to close mine—and that’s when real estate was a side-hustle stacked on top of my full-time job. I ended up doing 6-figures in deals in my first 6 months. If a broke insurance agent can figure wholesaling out, you can too.

 

Say No To More and Yes To Less

I share these wise words with my students all the time.

If real estate is the vehicle to your American Dream, remember this: The road is paved with tons of distractions disguised as opportunities.

If you say yes to everything, you’ll never get to your ultimate destination. Instead, say no to “good” and “better.” And say yes to the “best.”

To recap, here’s how this “good, better, best” philosophy applies to real estate:

  • Good: Rentals.
  • Better: Fix And flips.
  • Best: Wholesaling.

Get good at wholesaling first. Then graduate into fix and flips and rentals.

 

Start Wholesaling Real Estate Today And Close Your First Deal This Month


Stop researching, waiting, and wondering—and start making money in real estate. No matter how new you are, I’m here to help you get in the game and close your first deal in as little as 30 days. Click here to get started wholesaling now.