I am brand new to wholesaling, in the early stages. Been reading up and studying about it, spent a lot of time watching videos which is a big help. Hopefully in a few weeks I should be ready. Do you think I should start as a Bird Dog?
I wud start with wholesaling, it’s so simple a monkey cud do it. I hire bird dogs and I send them the book I learned from, but I suppose they lack the confidence and ambition. It is scary, my first thoughts were, I cant buy and sell houses, I’m just a chewed up ex construction worker. But take one step at a time and figure things out as you go and later you realize what an idiot you were for being afraid of something so easy and profitable.
Now go do it.
Thank you so much for your encouragement. In a few weeks I will jump in. I understand it on paper but the only way to really learn is to do it. Your answers are so genuine and are highly appreciated. You are right it is a little intimidating. But I am ready for the challenge.
Now for the bad…
You are going to cross paths with dishonest people. After you get your gonads handed to you a few times you quickly learn who to eliminate. You will have sellers and buyers that are not truthful, you will come across slimy Realtors.
You will have deals fall apart right before the finish line for various reasons and it will happen when you really need those funds are are counting on them to keep the bills paid.
When your buyer tells you it will close next Thursday you can bet it will be 2 or 3 Thursdays.
You will have dry periods when you are seriously questioning this crazy ass Wholesaling business. You may experience depression.
You will need to learn salesmanship skills, and will have to learn to negotiate.
Your relatives and friends will come asking for loans but wont be willing to learn how to wholesale RE like you did.
Now the Good…
When things come together it’s fun and exciting, When a seller thanks me for helping them sell a junk house they thought they were stuck with, it is a great feeling. You become the go to person to your buyers.
These wealthy Investors call and email asking for deals. You make friends with them.
Your new friends are like minded people that are positive thinkers.
Oh yea, and the money, if your willing to spend some on marketing and also do some networking with other wholesalers you can expect to have some healthy paydays.
And repeat after me… I will never give up.
Thanks for the heads up! I have already ran across people including realtors who said that wholesaling is illegal. I knew this was not true. They know I am the most honest person breathing and would not indulge in any venture with the letters 'il" in front of legal no matter how much money involved. I will take your tips.
Hi, I am new in RE, wholesaling. Rando, which book do you talk about. Can you email it to me too. I experienced a lot of struggles as you mentioned in some messages. I need a lot of help, hopefully we can support each other. Thanks, sincerely Bonnie
Bonnie, I have not started wholesaling yet. It is still a little intimitating to me. I am still in the study stages. By month end I need to get going and put it in practice that’s the only way. Have you started yet?
Hi, I have similar feeling about wholesaling and in general Real Estate investing. I have started wholesaling but struggling a lot. However, I made progress, not sold any property. Which market do you expect to do investing. I am trying in Minnesota.
The book I got started on is called Real Estate on Steroids by Jackie Lange. You can find it on Amazon.
It even has the contracts you need inside.
And you can email me if u need some help, I can walk you thru a few deals.
I will be wholesaling from Charlotte, NC. I have read numerous books, watched GURUS on youtube and google everything concerning the topic. This Thursday I will go visit our local REIA club to ask questions and get additional information. I started to hire a Mentor but they are very expensive-don’t want to go that route unless I have no other choice.