Am I a fool for quitting wholesaling?

[Heather M.]

Hi Everyone, so 5 months ago I delved into learning about real estate investing. Professionally I've had a successful career as a fundraiser for 501(c)(3) organizations, but I've always known that I wanted to get involved in holding and/or flipping properties someday (my initial thought was in the distant future when I receive some type of inheritance- being that I have young kids we don't exactly have thousands of dollars laying around to invest these days!) But anyways, I found out about wholesaling 5 months ago and jumped right in, literally making offers on properties the week I discovered that wholesaling existed. I thought it would be a great way to make seed money for my first rental property without having to wait for a large sum of money to fall into my lap (I don't exactly want to be looking forward for family members dying and I want to kick *** and make money on my own!) and I started working with a coach who has been trying to help me build my business from the ground up and work with me through closing my first deal (which still hasn't happened yet but I am only able to work on this 8-10 hours a week so I don't know if that's too abnormal). But here's the thing I've realized in the past 5 months. I hate wholesaling. At least some of the methods I've been using with the person I'm working with. Telling people I have money I don't have, making what I feel are insultingly low offers to people on their homes, telling people I have great deals when I really don't know how great they are or aren't, having my phone ring off the hook with prospective buyers when I'm trying to take care of 2 toddlers all day and managing my other business- I just don't feel like this is the niche for me. I have really felt discouraged about it the past few weeks- I KNOW I want to be an investor and I don't have a ton of money to get started in my first rental (about $6,000-$9000 to put down if I bought in the next few months- it'd take me a while longer to come up with more than that), but I really just am uncomfortable with wholesaling. I've invested a few thousand into my education on the topic, and invested a ton of time over the past 5 months- would it be a really bad decision to stop wholesaling and just try to save up for my first rental? What do you think?

[James Wise]

Wholesaling is a poor business plan.

Try selling properties as a real estate agent. You will have many more opportunities to earn money that way.