ben Leybovic

Rockford, IL · Member since 2013 · 35 posts · 3 votes

I just read an article from this man that has me more confused than ever. He pretty much said this site is not helpful or did I misunderstand his whole point of the article. He Wholesailing is the hardest part of Real Estate but I have heard it was the easiest. So my question is which is it? I really want to do this but the more I read the more I am getting very confused about any of it. So if someone could help me before my head explodes I would really be grateful. I am almost at the point to say forget it all since I am getting so many conflicting stories that I am not sure what to believe anymore. So I think my rant is over and thanks so much for reading and I hope for help.

Thanks

Sandy

0 Reply

25 views

Most Popular Reply

Matt Devincenzo

Investor · Clairemont, CA · Member since 2011 · 3k+ posts · 2k+ votes

12y

The truth about wholesaling is a thread on here that's been running for 3 years now, and should give you even more to read through.

Wholesaling is simple, but it is not easy. The same way olympic weightlifting is simply just picking up a bar with weight, but is far from easy to do so.

Wholesaling is touted as the "entry point" to REI because it is possible to make money when you have very little of your own to start with. For a good podcast from an active full time wholesaler listen to Aaron Mazzrillo's here on BP. He basically says the same thing, it is not his recommended starting point in REI, though it is possible. Just don't think it will be as easy as it sounds on late night infomercials!

3 Reply

See this reply in the discussion

9 Replies

Jump to latestLatest

Sort by

Jon Holdman
Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
12y
Lets see if @Ben Leybovich can clarify your confusion.

I would agree, though, that wholesaling is a very difficult job. Its commissioned sales. You have to have a bunch of skills and invest time and money to have any success. But it sure sounds easy. So folks can pretty easily convince people to buy their courses, boot camps and mentoring programs to learn how to do it.
0 Reply
Winston Risser
Rental Property Investor · Redmond, OR · Member since 2012 · 72 posts · 13 votes
12y
I believe as far as whole selling it always varies to what people like doing . We all have different personality types and can handle different things . All Real Estate Investing takes dedication to make it work. @Ben Leybovich is great! He was on one of the first 20 podcast i believe.
0 Reply
Ben Leybovich
Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
12y
Sandy - confused is good as it means you are thinking. I posted a response to you on the article - check it out if you haven't yet please. Very few succeed at wholesaling, but if you are hearing from BP that it's hard and from the gurus that it's easy, guess what...

I am not opposed to courses - I'd be a hypocrite if I did. There's value in everything. However, I am opposed to empty shameless promises of which "you can do wholesaling part time and generate enough income to say ciao to your boss..." is certainly one.

There's nothing confusing about this Sandy - wholesaling is one of the most difficult things to do in REI!
3 Reply
Matt Devincenzo
Investor · Clairemont, CA · Member since 2011 · 3k+ posts · 2k+ votes
12y
The truth about wholesaling is a thread on here that's been running for 3 years now, and should give you even more to read through.

Wholesaling is simple, but it is not easy. The same way olympic weightlifting is simply just picking up a bar with weight, but is far from easy to do so.

Wholesaling is touted as the "entry point" to REI because it is possible to make money when you have very little of your own to start with. For a good podcast from an active full time wholesaler listen to Aaron Mazzrillo's here on BP. He basically says the same thing, it is not his recommended starting point in REI, though it is possible. Just don't think it will be as easy as it sounds on late night infomercials!
3 Reply
David Krulac
Mechanicsburg, PA · Member since 2013 · 3k+ posts · 2k+ votes
12y
@Sandy Paris

@Ben Leybovich is right on.

Wholesaling has been oversold as an easy entry level real estate investment for somebody who has no money and no knowledge of real estate.

I went to a real estate group meeting and there was a newby there who announced that he had 50 "Great Wholesale" deals. He had a separate form sheet for each deal with the info on the property including owners name, property address and what the owner would be willing to sell the property for and what repairs would be needed according to the owner.

I looked at a whole bunch of his "deals", as I am always a buyer. Not a one of his "deals" was really a deal and we could not do any business together. His valuations were way high, his estimates of repairs was under stated, and all of his numbers were unrealistic.
0 Reply
Mark Ferguson
Flipper/Rehabber · Greeley, CO · Member since 2013 · 2k+ posts · 1k+ votes
12y
This is a great site with a lot of info. With a lot of info your going to have some good and some bad. There is much more good than bad but it takes time to figure it out. You can't expect to spend a couple days reading and figure it all out. Just like anything worth while it takes time, patience, hard work and hands on learning to figure out. If it was easy everyone would do it. @Ben Leybovich is a stand up guy and very smart. I would agree that wholesaling is difficult. So is investing in real estate.
2 Reply
Aaron Mazzrillo
Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
12y
The ones who say wholesaling is easy are the same ones about to tell you how their $5,000 course is an investment and you'll make your money back on your very first deal. And when that deal doesn't materialize because you know nothing about everything related to real estate, well, just get out that credit card and we have this script to help you bump up that credit line. That way, you can get into our platinum level coaching at a small investment of $20,000. But don't worry, you'll get all your money back on your very first deal. LOL

Learn to rehab and flipping. While you are doing that study marketing, contracts, negotiation, appraisal (which you'll get good at during the rehab and flip phase). When you have more deals in your funnel than you can rehab and flip, start wholesaling.
2 Reply
Shaun Reilly
Landlord and Rehabber · Newton, MA · Member since 2010 · 2k+ posts · 877 votes
12y
Originally posted by @Matt Devincenzo:

Wholesaling is simple, but it is not easy. The same way olympic weightlifting is simply just picking up a bar with weight, but is far from easy to do so.

This is an awesome analogy!

Probably the best simple vs. easy comparison I have seen for wholesaling.
0 Reply
Bill Gulley
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
12y
As an old track and field guy I can tell you that winning the marathon of RE is really easy to do, just run faster than the others. :)

I always suggest starting off with the basics of RE instead of some method or strategy, learn to crawl before you walk and walk before you run. Everyone wants to start out running and you just trip over yourself and others along the way. :)
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.