New Wholesalers Need HELP!!!

5 Replies

Hello,

We have been wholesaling part-time for a year now and haven't really had the best luck with our journey. My girlfriend and I are two young college graduates (class of '17 & '18) and we have decided a year ago this was the route we wanted to take. We target tax/mortgage delinquent motivated sellers, while also using bandit signs and mailing campaigns as a means of marketing. We generate leads every month but for one reason or another, the deals just fall through. Unfortunately, between work, school and sustaining our lives, we haven't been able to invest in a mentor. We know the benefits that a mentor can have to catapult our business into the next level, and we are finally ready to make this investment in ourselves. I know wholesaling can be done without help from a mentor, but it is a much harder journey filled with lesson after lesson (I say "lesson" because I don't like the word failure). After so many trials and errors, it's time to ask for help. We are willing to do 60/40 splits on our deals in exchange for a mentorship. We also will do most of the legwork, if you just walk us through each step and show us the ropes. However, we are looking for mentors in the Philadelphia area who have experience in the Philadelphia (and surrounding areas) market and with training new wholesalers to close deals in 30 days or less. We just sent out 2 mailing campaigns, and we are putting more bandit signs out this week, so the leads should be rolling in pretty soon. We are tired of dropping the ball on our deals and we are frustrated with the many leads that have left us empty handed due to our own lack of knowledge in the game. It's been over a year, and we are no where near ready to give up, but it's time to revise and start fresh!  If you know of a well seasoned wholesaling mentor or if you are an experienced mentor and would like to help take two newbie wholesalers to the next level please comment or message me!

Thanks Bigger Pockets Team!

Kirk.

@Kirk Johnson why are you hell bent on wholesaling? If you’re working full time why not just take that money that you’re spending on wholesaling and buy some rentals.

What’s your ultimate goal? If it’s to be a wholesaler keep doing what you’re doing, if it’s anything else I’d consider doing something different. Wholesaling is probably the hardest part of real estate, followed by being a new real estate agent

Originally posted by @Caleb Heimsoth :

Kirk Johnson why are you hell bent on wholesaling? If you’re working full time why not just take that money that you’re spending on wholesaling and buy some rentals.

What’s your ultimate goal? If it’s to be a wholesaler keep doing what you’re doing, if it’s anything else I’d consider doing something different. Wholesaling is probably the hardest part of real estate, followed by being a new real estate agent

 Our goal is to make enough money to buy a couple of multifamily properties. Wholesaling, for us seems like the most feasible way to get started in real estate investing. We don't really have great credit, and we definitely don't make a lot of money (as I'm sure you can imagine, new college grads aren't making big bucks these days). With profits from wholesaling, we can quickly save up the money we need to invest in our first multifamily home. 

@Kirk Johnson if that’s your ultimate goal I would fix your credit, save the money you’re spending on wholesaling and buy some rentals.  

Good luck!