How Much Time Does An Average Wholesale Deal Take To Complete?
By: Eddie Case
Submitted: 10:13AM on Saturday 20 June 2009
If I'm discussing this question with a brand new real estate wholesaler, the answer to this question is two-fold. The first half of the answer is this:
Before you can really begin wholesaling like a Pro there are 2 major tasks that must be accomplished in the beginning of any real estate wholesalers career. And they are:
1.) A wholesaler must first build his Investor/Buyers List! This is the list of the people who are ultimately going to become the end users of every single property that the wholesaler will put under sales contract.
2.) The second major thing that a new budding wholesaler will have to do is build his "Back Systems" that will continually bring him a fresh supply of wholesale priced properties again and again!
These two vital ingredients that EVERY successful real estate wholesalers must build, control, and maintain, are the "Secret Backbone" to this very lucrative business!
A new investor if trained properly on how to build these two systems can expect the building process to take approximately 30-60 days. Now that's not bad considering the trade-off which is a 6 to 7 figure income if done correctly. Where else can you get an education that only takes 1-2 months to grasp and then can produce that kind of income? To use a comparison, doctors go to school for 8-10+ years and many never see this kind of income!
But here's the BEST PART! after the initial setup of building your buyers list and building your wholesale property locating system, the average actual deal time is just a few hours! Maybe 1-2 Hours per deal! The average deal profit for successful wholesalers is between $ 5,000.00 and $7,500.00 per deal!
An average full time wholesaler will do 2-5 deals per month. Do the math! This business has incredible profit potential.
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