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Author Topic: focusing in the wholesale business  (Read 3504 times)

Offline adayatatime

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focusing in the wholesale business
« on: May 02, 2007, 04:14:52 am »
Ive heard alot of different thoughts on how to focus as a whoelsaler.  SOme people say trun and burn them while others say that you should learn an area and only deal with that area. Id like to hear your thoughts on how you recommend that a person master this craft of wholesaling properties.

Thanks
Aarron
 

Offline ElToroRosalinda

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Re: focusing in the wholesale business
« Reply #1 on: May 02, 2007, 09:57:07 am »
I would highly recommend going to a seminar if you can afford it (Todd Dotson has a good wholesaling seminar) or buying a home study course. I bought Steve Cook's wholesaling book several years ago and it was an excellent foundation on how to get started. Also, it was instrumental for me to find a mentor. Funny enough, this mentor and I didn't share the same values, but it was all I needed just to see someone actually do a deal or two to give me the confidence to strike out on my own. Hope that helps.
Pete
Banks are practically giving away real estate foreclosures to anyone who knows how to ask!

Offline adayatatime

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Re: focusing in the wholesale business
« Reply #2 on: May 02, 2007, 02:17:17 pm »
So EIT,

Do you work only in one area? Or do you work in all areas of your city/town?

Offline Roger J

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Re: focusing in the wholesale business
« Reply #3 on: May 04, 2007, 11:22:19 am »
what size of an area you choose to work greatly depends on your market.

If you're in a fairly small market, then working the whole market may work, though, you'll still have pockets of values that don't fit the norm.  The key, like always, is to know your market.

If you're in a larger market, then 'specializing' in a pocket or two of that market makes sense, especially if you're new(er) to the business.  Larger markets have more variance in prices from area to area, subdivision to subdivision and even block to block in larger markets.  So learning one or two pockets at a time is a much more sound idea than simply making offers on props that you may, or may not, have any clue as to actual value.

Regardless of your area, as a wholesaler, you do want to 'turn and burn' your deals.  Wholesalers deal in volume, so you only make $$$ by selling MORE deals, not getting more per deal.

Raj
www.HickoryNCHomes.com Search for all Hickory NC Homes for Sale.

Offline ericmedem

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    • Real Estate Wholesaling Guide
Re: focusing in the wholesale business
« Reply #4 on: May 05, 2007, 12:04:36 pm »
Ive heard alot of different thoughts on how to focus as a whoelsaler.  SOme people say trun and burn them while others say that you should learn an area and only deal with that area. Id like to hear your thoughts on how you recommend that a person master this craft of wholesaling properties.

Thanks
Aarron
 

Check your PM, I am sending you a 45 min audio that you might find helpful, rather than me trying to type it all.
http://www.InvestorsPlayground.com Now FREE!  Just type in your email so I know where to send your FREE 1471 Page Investors "Holy-Grail".  (It's NOT $97 anymore)

Offline tianyu

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Re: focusing in the wholesale business
« Reply #5 on: May 07, 2007, 10:16:12 pm »
Would it be possible for you to send that audi to me as well?

Offline Brandon Lambert

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Re: focusing in the wholesale business
« Reply #6 on: May 08, 2007, 10:24:11 pm »
As you start, if you work in a large market, I would suggest becoming an expert in a farm area.  Then you can start to move out.  When you get in to a niche like buying houses in probate, then you can't really work just one area.  I have no control over where people lived when they passed away.  So I do deals all over my market because I find most of my deals in probate.
Eliminate your competition!!
www.probaterealestatedeals.com

 




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