My first 12 months wholesaling houses in Charlotte! The truth!

[Ryan Battista]

Hi BP, I have not posted in a while and I wanted to tell everyone about my first 12 month wholesaling in Charlotte NC. I will tell you it was not easy. There were highs and lows.  I did receive a 30k assignment fee and did about 5 other deals! I also lost a 30k deal that I thought I had, which was a big blow. I was doing every aspect of this business essentially by myself this entire year. I want to pull back the curtain and open myself to any wholesaling questions. I feel like I have learned a lot and want to help others in their journey.

I will get things started with the most common question that I get asked which is...How much money do you need to start out as a wholesaler? The answer everyone wants is 0 dollars, just hustle but I can say if you are going to do marketing you need to plan on spending 2,500-5,000 per deal in a competitive market(5,000 seed money will work if spent in efficiently) Hustle alone will not usually scale you fast enough. In my market of Charlotte NC it cost me 5,000 per deal on average. I have spent more than 25,000 in direct mail and we have plans to triple that number this year. At the same time, I am trying to be smarter about what/where we send and tracking areas that may be tapped out or unresponsive to investors at the current time. 

OK BP, Ask me anything about wholesaling, I mean anything, Im an open book! I have learned so much from everyone on BP that I am ready to give back. Looking forward to sharing what I have learned over the past year. 

[Jay Hinrichs]

@Steve Vaughan  this kind of reminds me of the golf rush in CA the folks that made the money were the people selling the pots and pans.. that's a lot of money spent on marketing for the return.. I suspect the same amount spent to be a regular real estate agent would be more profitable than the risk of wholesaling..

Just my thoughts.. start a direct mail company no risk of putting the deal together and get paid no matter the results.