If you had to choose three or four things you believe are essential for an investor to successfully flip/wholesale what would they be?
Thanks for sharing your insight,
Aggressiveness (in finding deals, buyers, and financing)
Persistence (in following up with sellers, buyers, contractors, bankers, etc; working through the low/hard times)
People skills (making sellers, buyers, bankers, etc. feel safe and secure with you; networking with new people to sell to, to finance with, or use their services)
1.Ready CASH. I know a lot of people think it can all be done with OPM. But look at the number of posts on here from people struggling to get the money to do deals, or to weather the storm of down markets.
2. People skills. I'm not what most people would call a "people person", but when I do talk with people I have the unique ability to connect on a level that many people can't. My wife jokes that she has seen me make presentations to a bunch of blue collar guys and attorneys in the same day, and everyone in each group felt I had the same education and background that they did.
3. Know enough about law to know when to call a lawyer.
4. Know enough about accounting to know when to call a CPA.
5. Know enough about construction to know when to call someone with more skills.
1) Make tons and tons of offers. Like at least 10 per day or more.
2 The ability to move quickly in buying, rehab, flipping/wholesaling
3) Continuing to leverage your money into bigger and bigger deals
4) Creating a plan of action and writing it down and following it.
1. Be able to take measured risk
2. Dont get ready to get ready, or prepare to prepare or get caught in analysis paralysis.
3. Communication skills are a must for networking talk to everybody tell them what you do, what you need, and ask them what you need to know
4. dont be afraid to ask questions to everybody
5. never stop being a student, some investors cups are so full of "know" that they stop learning. you can learn something from everyone.
6. keep in mind if you take every step in the direction to which you would like to arrive, eventually you will arrive, but first you need to know your direction
Okay thats more than 3, I could go on and on