WHOLESALING: If you could start over?

Question

Whadup BiggerPockets!

I have a question for any wholesalers out there!

(note: I'm new to BiggerPockets and real estate investment in general. However, I am fully utilizing this all of the great resources available.  I have been deeply tuned into every podcast, actively participating within the forums, and I am already an avid reader so reading the blog posts might be my favorite learning tool so far)

With that being said here is my million dollar question: If you could start over your real estate investing career, what would you do differently? (preferably wholesalers but I am eager to hear stories from the other type of investors as well, the more the better!)

Caressa T. · Answer

Good question! Look forward to reading the responses!

Christopher Gray · Answer

Ryan Dossey So when you first started out, you immediately went out to seek people to network with? Also I do agree with you, I would learn more and gain experience being in the field compared to being in the books. Mentorship is honestly my priority at the moment, I would hate to make a wrong move and not recognize the mistake for what it is.

Thank you for the tip Ryan!

Christopher Gray · Answer

Account Closed Thanks for the reply Joe! Would you consider the expert you are working with as a mentor? and if so how did you connect with them?

I plan on attending a local REIA (DCREIA) meeting next month with intentions to network and look for mentorship but mostly to ask questions and listen.

Christopher Gray · Answer

@Karl Krentzel I've been researching and sales seems to be KEY in this industry and I'm not surprised. My skills in sales are unfortunately subpar but it's nothing I can't work on and progress with.

I'll take a listen to the podcast and look for the book you recommended Thanks for the input Karl!

Ryan Dossey · Answer

Not about starting over but what I have done and would do again. Find people in your area and buy them coffee to network. As you have the "what do I do here moments" search. Then post. You will learn more by taking action on your first deal than you will reading dozens of books.

Karl Krentzel · Answer

Great question @Christopher!

I was recently asked that question on my podcast (Episode 364 A Real Estate Business Plan for Investing Realtors®) "What Would I Do If I were in Your Shoes Today?"

I answered the question in just a few minutes, but in summary, I talk about the need for you to understand the difference between Active and Passive marketing, as well as a plan if I were to start all over again with little money and little contacts.

It's important (I think), for you to get as much skills training on what to say, and how to say it so that you have the confidence to know what to do when the time comes.

Nothing sucks more than generating a great lead, only to screw it up because you didn't know what to say or do.  Therefore, in my mind, if I were to start all over again, I would work on getting my sales skills in order.  Zig Ziglar wrote the best book in my mind on the subject of sales, "Secrets of Closing The Sale" and if I were to recommend one good book on that topic, that's what I would do!

Have A Powerful Sales Day!!

MOD EDIT:  Removed self-promotional link.

Account Closed · Answer

I HAVE started over after investing foolishly as a rookie on my own in Virginia 10 years ago.

The key difference this time is I am working with a proven expert in my market. I would recommend you find one in yours to avoid hitting landmines.

WHOLESALING: If you could start over?

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