I am curious to hear some of the biggest stumbling blocks people are having in real estate…
Is it having a constant amount of leads in the pipeline
is it finding buyers?
is it finding sellers?
No deals?
Market saturation?
I would say with wholesaling specifically…the biggest 4 problems I have seen with newbies are …
(A) finding the money required to do marketing in the beginning - e.g. I think you need to allocate at least $1k-$2k (minimum) per month in marketing / advertising expenses to be able to make a good six-figure income. Note this can be overcome by almost anyone by taking ALL of your profits from your first few deals and investing back into the business.
(B) building your buyer’s list
(C) patience and willingness to find your niche or lead source … e.g. are you targeting NOO or OO homes in a certain price range/area via postcards, running a billboard, doing bandit signs, placing classified ads, joining Homevestors, or what?
(D) mastering sales skills required to close the deal. Too many people out there dream of starting a small business or getting rich, but have no idea on how to close a deal. Good sales skills will give you a huge, huge, huge leg up over the competition.
I agree with you… sales and marketing is the crux to success.
and being targeted in your marketing is essential too!
excellent points.