How I started Wholesaling!

When I first started learning about Real Estate Investing 6 months ago, I was very skeptical about how Real Estate Investors would use "creative" strategies to make income in Real Estate without using any of their own money. I thought for a second this was some kind of "get rich quick scam".

I always thought the only way to be financially secure and successful was the standard: Go to School, Get Good Grades, Get a Safe and Secure job, and have a Good Retirement. As a result, I never considered doing any kind of investments in my future, let a lone Real Estate.

I was encouraged to attend a seminar with my mom to learn about real estate investing. I did not want go and I did not want to waste my weekend spending 8 hours a day on Friday, Saturday and Sunday with a busy school schedule. I thought it would be a waste of time and money. I went into the seminar with a negative attitude.

However... Spending 3 days in that seminar completely changed my views not only on real estate investing, but what I could do with my life.

On the first day, I saw how it all started to make sense and people don't simply become rich over night. It takes persistence, patience, effort and you really do have to treat it like a business. That quickly got rid of my own personal doubt that this was a "get rich quick" scam after the first day.

Then.. I was introduced to buying properties through seller financing, "subject to", wraps, wholesaling, etc... Numerous strategies that introduced me to how anybody could succeed in Real Estate Investing. Light Bulbs literally went off in my head at least 100 times during a period of 5 hours.

After that I was sold... I believed I could do anything I wanted to do.

I decided that Real Estate Investing would be my path to achieve financial freedom.

I decided to start wholesaling to begin my career in Real Estate Investing. I was initially attracted to earning money without actually owning any property and not using any money. The idea of simply selling your agreements for a finders fee to other investors, is an excellent way for creating cash to start investing. I also felt it was a great way to get hands-on knowledge and experience without risking any of your own money in an investment.

I met my partner at a wholesale workshop course, and we began going out trying to succeed as "newbie" wholesalers.

During the first 3 months, we felt like we were stuck and everything we did seemed like it led to no where. We felt like we were blindly putting up "We Buy Houses" ads on flyers, website, etc...

I was afraid to pick up the phone when people called my ads. I was nervous trying to approach other investors or simply anybody I didn't know. I often got tongue-tied and I had difficulty explaining what I do. I was afraid to take action and I was afraid of following up.

I felt like I was making no progress, and I considered quitting wholesaling. Luckily, I decided to attend my first REIA club with my partner. It was a great decision. Honestly, we were both very nervous approaching other investors with our business cards.

However, we met our mentor there and many positive people at the club. They encouraged us and gave us valuable information that we took off and ran with. After the club, I understood how important networking was as a wholesaler.

I made the mistake of pursuing deals and pursuing money, rather than focusing on finding other investors and satisfying their needs. I learned: "Don't chase the money, Chase responsibility to the people who you are trying to help".

From that point forward, I have built a big database to help solve the needs of other investors. Through networking, we also gained another partner to our business which has opened a new market for us we would never consider going in to otherwise.

If I were to start my Real Estate Investing career over again from the very start.. I would've networked first before pursuing deals and the money. I would've focused on solving problems instead of focusing on how much money I can make.

I am still new, and I still have a long way to go, but one valuable lesson I learned during the down times: Do Not Give Up, Be Persistent. Don't Complain, Take Action.

My advice to other people who want to start their career in Real Estate Investing through Wholesaling:
1. Attend your local REIA clubs, talk to other investors and let them know you are a wholesaler.
2. Find out what kind of deals your buyers need. Focus on why your deal will be great for your buyer.
3. Remember, you are here to bring solutions for buyers and sellers. Focus on how you can solve their problem.
4. Build Your Buyer's List First! Not only will you have someone to bring your deal to, You will feel more confident putting in your offers. Every time you network, you meet someone new and you learn something new by talking to them.
5. Go out and Do it! You have built your buyer's list. You know what they need. Its your job to give it to them!