I am New To Wholesale Any Advice?

Question

HI my name is Nayna President and im new to real estate im highly interested in wholesale. Any Tips or advice for a beginner?

Jeffrey Donis · Answer

@Nayna President Watch brent daniels and max maxwell on youtube. Great free content for wholesalers.

Eric James · Answer

Yes, ironically it's the people who have been successful in real estate for 20-30 years who might be successful in wholesaling. But it's all the new people without the knowledge and experience that want to wholesale.

Eric James · Answer

I don't see the point in getting experience in something you have almost no chance of being successful in. Valuable experience would be getting the financial discipline in your personal life to save 20%+ of your income. Once you've done that for a while you won't need to wholesale. You'll also have the discipline to then be successful in real estate.

Eric James · Answer

Probably 1 in 1000 beginners who start wholesaling will be successful.

Shamelia Leak · Answer

Hi, I will say watch the Flipman on YouTube. He gives out a lot of FREE info on wholesaling.

Mike Schorah · Answer

@Eric James

I've heard of people on these forums getting their start in flipping houses that way. I guess I didn't word that correctly. I was talking more in terms of the end goal of becoming a house flipper and not a wholesaler.

What type of income are we talking about here? What is your definition of "for a while"?

Jonathan Greene · Answer

If you are thinking about wholesaling, ask yourself why wholesaling. If the answer is that you think it is a gateway to becoming an investor, @Eric James is spot on. It's not going to happen. What business are you coming from? What skills do you have that could help you as a wholesaler? Do you know repair costs? Do you know how to find the ARV? Are you a neighborhood expert? What people skills do you have? You may have good answers to these, but wholesaling is like a real estate mirage. It's not really viable for 99 percent of the people who try it because they aren't trying to build a real business, they are trying to find a hack or bridge to financial freedom the wrong way.

Mike Schorah · Answer

@Eric James

What about wholesaling as a form of an unpaid or a paid internship? What about finding leads for experienced flippers in exchange for a small amount of money (opposed to $5k per deal or whatever the usual wholesale fee is) or in exchange for some form of education?

I am New To Wholesale Any Advice?

I am New To Wholesale Any Advice?

Most Popular Reply

9 Replies