Are there any classses?

Question

Hey bigger pockets family!

Does any one know of a group or a one day free class I can go to in St. Louis. To learn how to wholesale.

Jay Hinrichs · Answer

Shiloh..  while Wholesaling as a business is about as tough a thing as you can possibly do in real estate.. NO way is it as easy as it sounds or those that sell the systems pitch it..

But to learn more on the cheap..

I always recommend one figure out who the guru's are that are selling the systems.. most of them have written materials and CDs they give a package out to paying students.

the students burn out never do anything and the next thing U know they are selling their materials on E bay for 50 bucks that they paid 10 to 25k for..  buy all the guru packages one can  probably spend no more than a few hundred.. and go through them all.

Shiloh Lundahl · Answer

@Kahla Henry there are probably several guru training programs that come though your city all the time. Some of those programs are going to be better than others. But the average cost of a program is $2000 on the low end and upwards of $40,000 on the high end.

You can google real estate training programs and then the nearest big city to you and you’ll probably find plenty of them or if you start searching on Facebook for real estate investing, then you’ll probably start seeing ads for them.

If you’re just getting started, finding a local meetup group is a good place to start. You can lookup on the tab at the top of this page that says “NETWORK” and look for a BP meetup in your area. Or you can look it up on meetup.com or google REI meeting and your city name. Then you can start networking with other wholesalers in your area and you can ask them for some suggestions in how to get started in your area. Those are just some ideas.

Jay Hinrichs · Answer

Yes agreed just like everything real estate its much tougher than it looks   takes a ton more capital than one would think ..

and the guru course are just like anything else  some folks that pay the money do make them work and change their life.. % is quite small compared to the amount that attend and pay for them.. but like you said who are we to pre judge it for them.

I do believe though when people get talked into paying for these courses with credit cards those folks are almost always destine to fail if they have no other significant source of seed capital to start and the time and energy it takes to be in the sales business which is what wholesaling is.. its sales pure and simple.

But we just need to look back on a little company called Hewlit and Packard that was started in a garage in Palo Alto with 20k in credit card debt.. or Jobs and Wozniack  working out of their parents garage in Los Altos..

ERgo my thought of buying at least the written materials for a few hundred bucks and the CDs and see how it goes..

If everyone who paid for a HOW to real estate course no matter what kind it is.. wholesaling  buying notes  flipping  apartments syndications etc etc.. if every student did deals .. there simply would be no deals and price of these assets would sky rocket based on supply demand..

Having owned 4 RE brokerages over the years.. and wholesaling is nothing more than selling real estate without a license basically.. you always have your top producers in every office or every market you have some that just kind of troll along and then U have those that start cant make it and quite ( because they are not making any money) within 12 to 18 months.. its simply not for everyone and a lot of variables goes into a successful sales person in real estate..

Kahla Henry · Answer

@Jay Hinrichs

Thank you I will look into this

Bob Prisco · Answer

@Kahla Henry 1st mistake, , going to a seminar/ class . Find someone doing deals , learn then apply what you learn. ALso this term wholesale was created by some guru at a seminar. All you are doing is flipping a contract. Here  is what you do. Find a deal, lock it up, flip / sell the contract to another investor, make money. Find a deal, run the numbers, fix it , rent it , refi and do again. YES its that simple, NOT easy but simple. Wholesale, this entire industry has gone to hell and hand basket. 99% find deals on line, mark them up, do an email blast and call themselves a " wholesaler " . When in reality they are nothing, useless. I have had people try and sell me my own property, they cant hang up fast enough LOL.

Good luck to you

Shiloh Lundahl · Answer

@Jay Hinrichs I know that the wholesale business is very difficult and the ones who actually make significant money at it spend 10’s of thousands of dollars a month in advertising and they are substancial businesses with 10 or more full-time employees. However, the original poster just asked how she could learn more and I didn’t want to burst her bubble to learn. Who knows, maybe she is one of those 1 in 100 who is willing to do the work to create a significant wholesaling business. It’s not up to me to make that judgement call for her. So I just pointed her in a direction for resources and she can decide what she wants to do with it. But I did provide some ideas of doing it a lot cheaper by connecting with some local wholesalers rather than just pointing her I the direction of the paid classes.

Kahla Henry · Answer

@Shiloh Lundahl

Perfect I will go search now thanks!

Kahla Henry · Answer

@Shiloh Lundahl

Is there any class that’s not free that’s coming up in St. Louis I don’t mind going and paying for the information I just need the information.

Shiloh Lundahl · Answer

@Kahla Henry I don’t know of a free class on any subject of real estate where they don’t ask for you to put up money to learn more. Think about it. If I am working, then I want to get paid. If I am offering a free class, then it is probably in order to get a captive audience to show them what I could teach them and excite them about what it could be like to work with me and the money that they could earn, and then I would let them know how much that would cost them so that I could earn money for teaching them.

Also, if the class is free, the majority of people coming to the class are probably just there out of curiosity or to test the waters out and they probably have zero commitment to following though with anything. So that is why I never see anyone offer a free 1-day class on any real estate subject.

Are there any classses?

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