Brentwood, NY · Member since 2016 · 9 posts · 1 vote
Hey everyone,I made a bold yet stupid move and quit my job to make money in wholsaleing yet it's been over a month and nothing yet produced from it,I'm in Suffolk county Long Island NY can anyone give me some advice? HELP!!!
@Jonathan Belizaire First I would like to say that: Everyone makes decisions that sometimes lead to Mistakes. So just learn from this experience. With that being said. I would recommend you trying to get some income rather it be a job, or a side business you start. I know that there are multiple ways you can invest in Real with no money. Trust me I know. But having some income coming in will only increase your chances of success. To be particular which you are speaking about wholesaling. You need some kind of funds to get yourself going in the right direction. Such as Marketing yourself with posters, letters etc, direct mail etc. It cost money, but it doesn't mistake a bunch. On thing I would say that is free would be Networking. Go to your local REIA, Speak with agents, Biggerpockets etc. This is a Relationship business. Networking is Key!
With all of that being said. Best of luck with everything! Never Give up even when the hard times and mistakes come.
Thank you and I appreciate your advice,any advice/tips you can share on gaining leads? I've been working on probates,hanging signs,trying to get offers accepted on foreclosures and still nothing. @dwaynewheeler @christ
@Jonathan Belizaire Keep at it. Sometimes it takes weeks or even longer at times. Try to stand out from the crowd. Especially when it comes to wholesaling. It's a grind! So keep doing what you are doing. To add alittle insight on Leads I would use biggerpockets, Local REIA Meetings, Tell Everyone you meet what you do, Talk to Property Managers, Advertise yourself on social media platforms and even going to auctions. Just what @Chris T. said: Grind! Grind! Grind! 10x Your Grind as The Popular Speaker Grant Cardone would say. You got it
I don't want to sit here and make you feel hopeless but the guru stuff promoting unlicensed brokering is just that. The vast majority will not succeed. Also consider this: IF you were to have success assigning one contract and making 5K, how far would that take you. You would need a steady stream of them to make a living. You might consider trying to get re-employed and working RE in your spare time. One poster on BP stated it took them 6 months to get their first deal done and that they made 6K. That is way too long for a paycheck for anyone. Consider going back to work, maybe taking RE classes in your spare time, getting your license, and learning the business and investing. It CAN be very profitable and give you financial freedom...but it won't come fast. Good luck whatever your decision.