The Top 5 Reasons You Shouldn’t Wholesale Properties

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Wholesaling is often made out to be an easy and glamorous story. Reality shows, websites, and the so-called real estate leaders often talk about how it can be a great way to invest in real estate. In fact, many even claim that it is the perfect way for newbies to enter the real estate market with little or no money.

You hear talk of how all you need is a cheap property to wholesale, purchase it or get it under contract, and then sell it off or pass on the contract to a buyer. You’re constantly fed success stories of people who became millionaires overnight just by wholesaling.

Yes, wholesaling is a great way to invest and can be all that it promises to be, but not all the time. In fact, let me rephrase that. Wholesaling doesn’t get you those dreamy-too-good-to-be-true results most of the time. In fact, there are many instances where this investment strategy gets you nothing but despair. While wholesaling is a good option for some, it doesn’t suit every person, especially those new to real estate. It’s not even fit for every home or even geographical region.

So, before you decide to jump onto the wholesaling bandwagon, read on. Here are some lessons that many newbie real estate people have learned the hard way.

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It’s Not an Overnight Marvel

Unfortunately, many people get into wholesaling because they do not have the money to purchase homes for flipping and renting. In their dreams, they hope to make a lot of money on the deal overnight. Unlike what the so-called experts proclaim, wholesaling usually isn’t a rags to riches real estate story.

Also, unlike what most beginners believe, this isn’t the path of getting something for nothing. It also isn’t the quickest and easiest way to start your journey in real estate. So if reality television shows have made you believe this isn’t the case, now is the time to take a hard look at reality. Wholesaling has been glamorized to look very easy to do, with no risk involved. In the real world, however, it isn’t that easy.


The reality is that it takes a boatload of patience and a good amount of time before you start making money in the market. You need to do extensive market research before you’re in a shape what property suits wholesaling. You also need to network with people in your own neighborhood to find new deals, potential sellers, and buyers.

This translates to one simple thing: You need to get out of your comfort zone and into the market, work on strengthening your base, and actually take the time to study the real estate market in your region. You will be sending out mail to people, building your foundation in the region, and knowing how the market works there. You also need to work on promoting your brand through marketing, negotiating your deals to get the best ones, and understanding how contracts need to be drafted. All in all, be prepared to work hard and constantly before you start getting results.

The “Legal Stuff” Could Bite You

What most reality shows also don’t bother to tell you about is the legal side of wholesaling. In fact, if you check out real estate forums, you’ll see that many wholesalers constantly keep getting fined for their so-called “illegal practices.” The states that consider it illegal do so because of their concerns around brokering.

Different states define brokering in different ways, and in many places, the definition of what a wholesaler does tends to overlap the work of a real estate broker. This means that the work you do may be considered illegal if you’re not properly licensed.

However, there are also places in favor of wholesaling who say that it is legal because it simply involves signing a contract and then giving it to someone else. Another legal concern pops up when you’re marketing a property. Here, depending on what you do exactly and where you are, you would be advertising a property that doesn’t belong to you.

The reality is that whether you are licensed or not, wholesaling certainly walks a tightrope between legality and illegality issues, especially with definitions changing in every state. So, you need to check how it works in the state where you want to conduct this deal. Before you decide on whether it is the right option for you, check out what laws apply with your attorney in your region.

You Might Encounter Paperwork and Other Issues

While it doesn’t seem like much, paperwork is often the number one time consumer in real estate. There is plenty of it involved, and it starts with drawing up a contract with the party you’re buying from. Then, this is followed by a contract with the person who would buy from you. Also, wholesaling deals aren’t always simple and straightforward. While some are simple enough, others are extremely complex. You’ll need to be able to put in plenty of time for paperwork. You’d also need to consider any legal issues when you’re drafting a contract.

The reality is that paperwork is a great place to start learning the ins and outs. Not only does it take up plenty of time, it also eats up a lot of your energy and zeal. Get the help of a mentor to see if you’re filing your paperwork properly and whether your contract covers all the essential aspects. You will also need to hire an attorney to check whether all legal aspects are taken care of.

There Are Hidden Costs

While this seems like a great option because you need a little cash for investing, many of the websites that say it’s a good tactic forget to mention the hidden costs. For example, sometimes you may have to invest in rehabilitating the house before a buyer picks it up. There may be repairs that can turn out to be very expensive, eating away all your profits.

The reality is that the hidden costs that come up while wholesaling can actually hurt what you make from the project. So if you are new to the wholesaling market, you may want to get an expert to identify the hidden costs involved for home repairs. Another area of concern is the ARV or after repair value of the house. Having a good ARV is crucial to profiting from wholesale deals. You need low purchase prices, little rehab costs, and a good sale value to actually profit from the deal.


It May Not Match Your Personal Style

Most real estate professionals get into wholesaling because they see every other peer in the region doing it. This herd mentality doesn’t help anyone. In fact, many overlook that success in real estate doesn’t come just from wholesaling. There are many other aspects involved as well.

For one, you need to decide what your own strengths in real estate are. You need to have a strong grasp of identifying what makes a good deal. You need to have a thorough understanding of the market and properties. You need to be good at marketing, as the best deals aren’t always the ones that are listed. You would need to find a way to get good deals and be persistent in your approach. You also need to be a good negotiator, as these skills will help you buy properties for less and sell them for more. Finally, real estate involves patience. It takes plenty of failures and learning before you make it big. Gather all this experience and try to be different from the others. But there’s more to it than this.

The reality is that you need to take a hard look at your personality before you decide that wholesaling is the right thing for you. You also need to gear up for long hours of hard work, sacrifice, and failure, so decide if you have what it takes. There might very well better options for you personally. It all depends on your environment and your working style. Once you actually learn and are able to implement all of the above, why even bother taking the “easy” route of wholesaling? You might as well start flipping and making twice as much as you would wholesaling.

Sure, there are people out there who got into real estate wholesaling and made a fortune for themselves. But to expect that a newbie can make huge profits with their first wholesaling deal is just plainly unrealistic. You need to take a look at all the people who have failed at it.

While wholesaling isn’t a bad option at all, knowing how it works and learning from someone else’s mistakes will help you go a long way. There are just a lot of pitfalls. What is more important: As a newbie, do not fall for the lure of the glamorous wholesale market. Rather than jumping into this line of work without any funds, save money, work hard, and start with small investments. Do not get into these deals without a financial backing. More importantly, understand your personal strengths and style, know your market, network like a madman, and be different. After all, success only comes to those who do things differently.

What do YOU think? Is wholesaling a good path for many investors or not? 

Feel free to disagree — just be sure to leave a comment below!

About Author

Engelo Rumora

Engelo Rumora, a.k.a.”the Real Estate Dingo,” quit school at the age of 14 and played professional soccer at the age of 18. From there, he began to invest in real estate. He now owns real estate all over the world and has bought, renovated, and sold over 500 properties. He runs runs Ohio Cashflow, a turnkey real estate investment company in the country (Inc 5000 2017 & 2018) and is currently in the process of launching a real estate brokerage called List’n Sell Realty. He is also known for giving houses away to people in need and his crazy videos on YouTube. His mission in life is to be remembered as someone that gave it his all and gave it all away.


  1. I can\’t speak for the rest of the country but Miami/Dade and Broward have become extremely difficult to find true \”Wholesale\” deals, especially Fixer-Uppers, for two reasons.

    1. Many Wholesalers are in fact discounters that sell just a little bit under \”Retail\”. I think this is evidenced by that fact that many alleged Wholesalers commonly hold a property for weeks or months instead of days and dramatically reduce the price along the way. I have seen multiple cuts of $10,000 – $15,000 on a $100,000 property.

    When I was a Wholesaler in Colorado and Wyoming I had an \”A\” list of Buyers that when I acquired a wholesale property they would move on it the same day, often in just a few hours because they knew if they didn\’t it would be gone. I was happy with $5,000 profit on a $50,000 – $75,000 deal and $10,000 on a $100,000 to a $125,000 deal. So was the buyers because including the purchase price, my fee and fix up costs his/her ARV was 30% – 50% under market.

    Today a Wholesaler pays $75,000, asks $100,000 with $25,000 in necessary repairs and show comps at $150,000 less $9,000 in real estate commissions = $16,000 maybe??? I haven\’t even factored in holding and closing costs.

    2. Far too many wholesale deals are properties with \”Open Permits\” or iIllegal Additions with NO Permits issued or Code Violations. \”No problemo\” says the Wholesaler. \”Grande Problemo\” says the Building Inspector as he Red Tags the property.

    So many counties are scrounging for revenues today Building Inspectors have been know to have a Realtor friend place an \”Alert\” on MLS Listings for them if a Listing pops up saying: \”No Permits. Buyer must get\” or \”Code Violations. Buyer must resolve\” or \”Illegal Addition. Sold \’As Is\’\” etc. Most of these properties are in reality \”Tear downs\”.

  2. Michael Williams

    Hi Engelo, you made some great points. I have been coming onto BP everyday for the last three weeks and I’ve seen at least 80 newbies mention wholesaling to start. Somebody said in another post “When the Uber driver starts to talk about wholesaling that may be a sign of pending over saturation”. This mass influx of new wholesalers is bound to increase paperwork issues that will lead to more rumors of banning the practice but less hope everyone stay on top of it.

    You gave some solid advice about each individual finding their niche, wholesaling is not the only strategy in this game. In my opinion there are strategies that will bring bigger and faster paydays on the front paydays in the middle and a payday at the end. Even with less money than wholesaling if done correctly. I recently changed my status from wholesaling to buy and hold. I changed my status in my profile yesterday and 2 hours later I got an email from a client that is selling a $1million property and is open to lease option and owner financing. I have never done one of these before so I will be getting help and splitting the huge front end payday with a mentor.

    The point being I had about four wholesale deals fall apart but that didn’t stop me from trying again. There has to be a business oriented mindset to be a real estate investor and the chances are many of the new people entering may not have the discipline to run a solid real estate business. But I am wishing everyone that enters success, because if you have an abundance mentality an get the marketing aspect down pat, you will do well.

    • Engelo Rumora

      Thanks for your comment Michael.

      What pisses me off is that everyone wants something for nothing.

      They want the quick buck.

      Real estate doesn’t work like that.

      It took me 4 years of laboring before I was able to save my first $50,000 and buy my first property.

      I’ve done 400 deals since then an it sure has been a journey.

      There is no quick and easy way.

      Work hard, save the cheese and then enter the market with whatever strategy.

      You need to have some $$$ backing you endeavors tho.

      Just my opinion.


  3. Scott Schultz

    Great article about Reality! the line between Brokering and Wholesale is a bit grey, its almost like selling futures, i look at wholesalers, and ask, Why not just get your RE license, and sell legit, and get a commission? it easier, and involves less hassle, now you cant do a “Net Listing” so the profits are limited, but you would be taken more seriously if you hustle with a license then not. Im not one to defend my License, as a mater of fact, Accountants keep telling me not to have one, but, i see these folks assigning contracts, and think, who the heck would buy like that, maybe my market is different, but very few people would trust the deal in my market. Thanks for a great article!!!

    • Engelo Rumora

      My pleasure Scott,

      There are many different markets.

      Sellers want a quick out and that’s why they sign with a wholesaler.

      Then, investors want a deal so that’s how they buy from a wholesaler.

      My article is meant to be though provocative and I have nothing against wholesalers 🙂

      Thanks and much success

  4. Scott Schultz

    I have nothing against Wholesaling either, just saying that if someone put as much hustle into listing and selling, as an agent they would make way more money, closing several deals a week in the midwest can easily make you a 6 figure income, and that is pretty easy to do once you establish yourself. Hats off to the Hustlers out there.

  5. Angelo Martucci on

    Engelo, I love all of your articles they always speak the truth and tell it like it is. I completely agree with this article, with the low inventory in most areas of my state, wholesaling does not work. In addition, wholesalers NEVER properly evaluate the ARV and always underestimate repair costs. It’s a tricky line to walk. Also, it’s almost impossible to Wholesale REO and Short Sales


    • Engelo Rumora

      Thanks Angelo,

      I do my best to call it as it is and am not a fan of shooting around the bush.

      The big boys and girls can take it, while the others still need to eat some vegemite and grow up 😉

      Thanks again and keep hustling mate

  6. Eric F.

    Wholesaling is not for everyone. That is what the article should say. It should just be the last section about determine if it is correct for you. The last paragraph should be the first one. Most of article makes it sound like no one should be a wholesaler then the very end states otherwise.

    I also would like to contest or seek clarification on a few statements:

    “What most reality shows also don’t bother to tell you about is the legal side of wholesaling. In fact, if you check out real estate forums, you’ll see that many wholesalers constantly keep getting fined for their so-called “illegal practices.” The states that consider it illegal do so because of their concerns around brokering.”

    Constantly get fined? I read the BP forums quite a bit and I don’t see people “constantly” talk about getting fined for illegal practices. Where are you getting this?

    “You Might Encounter Paperwork and Other Issues

    While it doesn’t seem like much, paperwork is often the number one time consumer in real estate. There is plenty of it involved, and it starts with drawing up a contract with the party you’re buying from. Then, this is followed by a contract with the person who would buy from you.”

    You are right, there is a lot of paperwork. However, there is not nearly as much as a rehab, which you suggest people do later in the article. I do both and it is not even close. Everything requires paperwork. Personally I do not think it is fair to put something like this as a con to wholesaling when it applies to every type of real estate investing (and business in general). And it is even more out of place when any alternative requires more paperwork than wholesaling. I have folders with deals I wholesaled that have under 15 pieces of paper in them. My rehab folders have 15 receipts from Lowes alone!

    ” For example, sometimes you may have to invest in rehabilitating the house before a buyer picks it up. There may be repairs that can turn out to be very expensive, eating away all your profits.”
    1) That isn’t wholesaling
    2) This applies to flipping, which again you suggest later in the article.

    “I love controversial articles that ruffle feathers and get people talking.”
    oh dang, you got me

    • Engelo Rumora

      Hi Eric,

      Thanks for your comment.

      When I get such detailed replies like yours it proves that my articles leave an impression.

      I don’t get into a “tug of war” in the comment section of my article and leave that to other folks that didn’t spend hours writing the bloody thing hehe.

      And trust me, when you quit school like I did at 14, the last thing you want is to type long and hit ‘delete’ every 2 seconds.

      Much success

      • Eric F.

        I don’t mean disrespect, but you cannot post an article containing questionable information and then when asked about it just say you don’t get into “tug of war” in a comment section and wash your hands of it. Your article has questionable claims. I think you owe it to the reader to clarify them if you are presenting yourself as an expert, which according to your impressive bio you are.

        • Engelo Rumora

          Thanks for your perception Eric,

          I’m not an expert but just a blog contributor. The “experts” sell courses on flipping and wholesaling, etc..

          I actually make money doing and not talking or writing about it.

          In my eyes there is nothing questionable about my article.

          Much success

  7. Darwin Crawford


    Read an article on your biz about 2 years ago when I got into RE. Pretty helpful stuff. I agree, wholesaling is a total pain in the rear end. I have rentals, which I love, and I work for a large-volume wholesaler, which I alternate between loving and not.

    You make some good points, and I think they cover a lot of aspects on the RE biz, meaning that most people start out starry-eyed with enthusiasm, and then the workload punches them right in the face. And as we all know, everyone has a plan until they get punched in the face.

    My biggest complaint about wholesaling now is the horde of people in the game that are a long way from honest. We run into them at the office constantly, on “potential JV deals” and they for the most part suck. Sellers are lied to, buyers aren’t given accurate rehab costs or ARV’s, and the amateurs are ruining the game for the rest of us.

    However, it does work often enough that we make money, and everyone takes home a nice bonus every couple weeks. But there is no way I’d do it on my own – it’d be half the work, and twice the commission just to become an agent in my home market.

    • Engelo Rumora

      Thanks Darwin,

      Toledo is a complete joke when it comes to wholesalers.

      These guys here a running a circus.

      Too many rookies get sucked into this practice due to a seminar or course they picked up.

      Nothing comes easy and many folks see it as a get rich quick scheme.

      Money speaks every language and I always advise that folks get down and dirty, save some Ka Ching $$$ and then pick a vehicle in which to enter the real estate market.

      Think about how many folks would wholesale if the requirement was to have $100,000 in the account before you can start. Not many, right?

      Anyway, just my opinion and I’m always glad to stir the pot so others can smell what’s cooking hehe

      Have a great day.

  8. Gordon Cuffe

    Wholesaling is like any other business. IT is tough to get started because of the learner curve and having a small network. The bummer is people listen to someone talking about getting big checks fast so the newbie thinks they can just go on craigslist and find a fsbo, add 3 grand and an hour later find a buyer who will pay at this new price. It is never that easy unless you have been in business for years and allready have a network of reliable buyers and you have an off market property to sell. I am going to call back someone now who received my postcard over the weekend. Let’s see if I can sell the property by sep 1st

    • Engelo Rumora

      Thanks Gordon,

      You mentioned a key word “Years”.

      It sure does take years to get going with seller leads and to build up a book of genuine buyers.

      We have been successfully running Ohio Cashflow now for 3+ years and we are still getting our S#$% together and we feel like clowns many days.

      It’s a long way to the top and most aren’t willing to make the climb.

      Thanks and speak soon.

  9. There is a huge DISADVANTAGE of being a licensed real estate agent involved in wholesale deals, or any deal for that matter, the smallest of details missed, overlooked, honestly forgotten can send the other side running to the appropriate State\’s Department Of Real Estate to file a complaint. Most Departments Of Real Estate are for the one filing the complaint and in a heartbeat your license can be suspended, revoked etc.

    If you don\’t have a real estate license you can tell the whining, often unreasonable party to pound sand.

    • Engelo Rumora

      Thanks Tom,

      This is one of the main reasons why I don’t have a license.

      The irony is I just bought a brokerage and we are recruiting agents like crazy.

      I guess I just like dancing to my own beat and not having others enforce what I can and can’t do.

      Get a good attorney on board to keep you legal and out of trouble with all of the jibba jabba documents.

      Licensed or not

      Wholesaling or selling as an agent

      Doesn’t matter, always have your legals tight.


  10. Jeffrey Hare

    Wholesaling is illegal. At least the way it is commonly practiced by individuals who contact me because their training materials told them to “contact a real estate lawyer” or “get a real estate lawyer on your team.” It comes as a complete shock when I tell them that they are at serious risk of being nailed for acting as a real estate broker without a license. “But the course instructor said I don’t need one since I am acting as a principal.” But are you? If you don’t have the funds or financing to close the deal yourself, are you not committing a form of fraud or misrepresentation? (Hint: Answer is “Yes.”) And don’t get me started on explaining the problems that will occur when the property is in a family trust and you signed the contract with the elderly grandmother resident. Would you like ketchup with your Summons?

    • Engelo Rumora

      Thanks Jeffrey,

      I’ve never seen a high volume based wholesaler getting busted for wholesaling.

      Only rookies.

      As I mentioned in an above comment that “money speaks every language.”

      If the state comes knocking or whoever else, i’m sure Mr Bigtime wholesaler just throws $$$ at his legal counsel and get’s it dismissed or pays a cheap fine.

      It’s crazy how the system works here sometimes.

      Some states are more strict and others are looser.

      Off topic here but for example in Ohio, you get “hung” if you property manage without a brokers license while in Missouri, they hardly even look at it.

      Thanks again for your comment and have a great day.

  11. Craig Whitehead on

    I truly enjoy a lot of the content and information provided by the users of BP. But sometimes, it can be frustrating and discouraging at the same time for those who are easily frustrated and discouraged, particularly for new investors. No one should believe that what we see on television is all that there is to real estate investing or that its “that easy”. By the same token, there is a fine balance between encouraging new investors about what they should or shouldn’t do AND how to go about it and asking them if they’d like ketchup with their Summons.

    I’m looking to do a deal now, which for all intents and purposes, could be categorized as a wholesale deal. I know the seller quite well and she can’t live in the property. There is no mortgage and tons of equity as there are no other emcumberances or liens. The property is solid structurally, the mechanicals are all good and it only needs updated flooring in the kitchen, the cabinets can be painted or resurfaced and the counter tops are good. I’ve done my homework….the ARV is solid and I’ve done comps based on recently solds, current for sale listings, time on the market and county tax records comps. I have disclosed to the seller that I don’t have the funds of my own to purchase the property. She is not asking for top dollar because she wants to get rid of the house. I’m not looking to get rich on the deal but I want to close a deal, earn a decent check and help the seller at the same time. I have told the seller that I will look for buyer/investors that would be interested in buying as a cash flow property or would want to do a buy and flip.

    I don know that if you sit around and worry about the “what-ifs”? and are afraid to take action because of what might happen, you’ll never, ever succeed at real estate investing or anything else in life. So I’m going to work and keep it moving. Thanks all!

    • Engelo Rumora

      Thanks Craig,

      It’s quite simple. Take what you hear and read with a grain of salt as most likely the person telling or writing has a hidden agenda.

      Find what suits you best and make it happen.

      Do it your way.

      Much success

  12. Mark Choi

    I want to thank you for this blog topic, Engelo. It’s always a good thing when a dialog can be started.

    May I suggest revising the title of your blog to be “Top 5 Things No One Really Talks About When Considering Getting into Wholesaling”. Because the only 2 points that I agree with your 5 points are: “It’s Not an Overnight Marvel” (so true!) and “It May Not Match Your Personal Style”(couldn’t agree with you more!). The other 3 points are not real reasons for anyone to not to wholesale.

    I am a 9 week-old newbie wholesaler in NYC. I delved in to this business out of desperation of getting the hell out of the rat race. Before jumping in, I researched the topic of wholesaling for a couple of weeks to make sure that it wasn’t a scam or illegal or a “get rich quick” pipedream. When I was pleasantly surprised to find that it was all legit, is when I really started my education.

    I dedicated 4 weeks to learning everything that I could get my hands on regarding wholesaling. I immersed myself in anything and everything from all that BP has to offer to dozens of different teachings on youtube, and was fortunate enough to get a hold of a couple of workbooks by gurus who have hearts of teaching rather than selling without having to attend any classes. When I got comfortable with the entire concept, I did attend a 3 day marketing boot camp to get practical guidance in how I should actually compose letters and how I should send them out. Since then, I truly began my wholesaling business by generating seller’s leads. I am now 5 weeks in for a total of 9 weeks.

    I can now say that I am truly in the trenches of wholesaling. I have run into things that people have been saying all along as well as discovered things that are not talked about as much. Please allow me to elaborate on your 3 other points that I disagree.

    “The ‘Legal Stuff’ Could Bite You”: True. But this pertains to every aspect in real estate and not just wholesaling. In NY and NJ, it is required by law to have an attorney to be involved right from the purchase contract level all the way to closing. This is not a deterrent. It is a saving grace! By having an attorney involved dissolves any doubts from the seller’s mind the legitimacy of the wholesaler, and gives them the confidence to work with you. If your state does not require one, and you are a newbie, I suggest you practice explaining yourself just in case the seller gets suspicious or uneasy.

    “You Might Encounter Paperwork and Other Issues”: The reply here is practically identical to the “Legal Stuff” point. This also pertains to every aspect of real estate. Hardly an argument to not to get into wholesale, is it? I know you don’t mean to imply that if you skip wholesaling and just get into, say rental properties, that you won’t encounter complex paperwork and other issues.

    “There Are Hidden Costs”: I agree with the title of this headline, but not the reasoning you gave. If one is a true wholesaler, you do not touch even a single nail or any other part of the property before you assign the contract to the buyer. If you do anything to improve the place, you might as well be a rehabber.

    The costs that are not hidden are the marketing materials like printing and mailing. The true hidden costs are your time! *Time for more education. *Time for acquiring and learning new skills. *Time for implementing these new skills.

    *Time for more education: Of course everyone knows that one really never stops learning, no matter how long you’ve been at it. But at the newbie level, there is no such a point where you say, “OK, I’ve learned enough. Let me just go at it.” There are just so much more you’ll discover that you’d want to learn them. For example, even if I will not be rehabbing, I studied and learned the basics of how to estimate repairs in order to come up with a pretty good ballpark offer to the seller while I have them on the phone before I make a trip out to the property. This way, the seller has an idea of how much of a discount they are expected to give in order to sell quickly. And especially if the repairs will be significant enough to warrant a lowball offer, he may not even want me to come out.

    Would you be able to make an offer without learning to estimate repairs? Sure. But you are taking a chance to make yourself to the property with a pro repair estimator. The repair estimate could come out to be so high that you have to make the very low offer to the seller. And they are shocked and even appalled at how low your offer is and asks you to leave. You just wasted several hours traveling to and from the site, not to mention the cost of the pro estimator.

    *Time for acquiring and learning new skills: In order to get certain leads, I acquired Then I had to learn how to use it. In order to get reliable comps, I acquired (instead of MLS for NY). Then I had to learn how to use it. In order to stay organized I acquired a CRM service called I’m still learning how to use this. Of course all of these services cost money that I didn’t foresee when starting out. Even the free sources like pulling records at the courthouses or city hall took a while to learn.

    And lastly, *the time for implementing these new skills: Now that I’ve signed up and learned how to use all these new things, I need to actually sit there and crank out these leads and use the services. And for the no-cost ones, I need to travel to the places to pull records and travel back home – 5 hrs average.

    Is all of this overwhelming? Absolutely! So much more time needed then I thought.

    Enough reason to not to wholesale? For many, yes. Like you said, it depends on the personality. And if you really get down to it, what in this world is truly simple, fast, and profitable? For someone like me who’s broke and have had it running around the rat race, it’s a great choice and a very fortunate opportunity to have discovered wholesaling.

    The wise teachers in this field all say the same thing regarding time spent working: the activities that actually lead to finding a deal or making offers or finding the buyer to close the deal only count towards real time spent. This means designing the perfect website and logo for your business, watching youtube lectures about real estate investing, reading, learning, writing replies on real estate discussions are all extra.

    During the last 37 days I have spent a total of only 34 measly actual hours truly working. I have sent out 4 direct mail campaign and preparing my 5th, visited 5 different county courthouses to pull probate leads, attended 4 REIA meetups to build my buyers list and continuously pulling leads from the list service. I am still waiting for my first phone call. But I know not to get discouraged, because consistency and persistence will eventually prevail. And when I do, I will continue to use my skills to move onto buying and holding and eventually invest in large multi-family units – none of it with my own money of course 😀

    Instead of using this valuable time to express my feelings, I could have pulled a few more leads and wrote a couple of letters to mail out. But I chose to write, because I don’t want any newbies to give up for the wrong reasons.

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