5K for a course on Wholesaling?

Question

I am new to the Real Estate investing. Wholesaling is a new concept for me. I understand the premise behind wholesaling, but don't know exactly what state specific rules there are here in Texas. I have listened to different podcast talking about Wholesaling. One of the podcast had a website that offered more information about wholesaling so I read it and signed up to be contacted by them. I am sure that they are very knowledgeable about the business but are not based nor do they conduct business in Texas to my knowledge. I was surprised to hear the gentleman from the website tell me that they could offer me videos and access to their private website for the low price of $5,000.00. I understand that buying an education is important but I wanted to get your opinion about these type of gurus

Thanks in advance.

-Nate

Thanks in advance.

-Nate

Natalie Kolodij · Answer

For $5,000 you can literally run 2 full scale marketing campaigns.

Don't give gurus your money. Put your time into being helpful/useful to local investors and find someone who partner with or mentor you.

Steve Haight · Answer

@Nate Kooiman

Just another take on things. I have heard people spending anywhere from 20k to 40k for the guru courses. I started with a mentor that had a cookie cutter system already in place. Like you have heard before you will get the same training here on B/P, put your 5k in a deal. Good luck here, hope to see you around here more often.

Percy N. · Answer

@Nate Kooiman, that $5000 course is probably priced $4999 above what it is worth.

Everything you need is on the BP forum, the web and podcasts. Many many youtube videos as well.

Have you gone through the BP beginner's guides?

Account Closed · Answer

I would sign up for the class with a 30 due diligence period and make the sign up assumable by a 3 Rd party ,watch the videos,then sell it for $7000 There you go your first wholesale lessons from me for free

Nate Kooiman · Answer

Thank you guys for the advice.  I went to my 1st REIC meeting last night.  Met a lot of good people and a couple of wholesalers.  I picked their brains for a couple of hours.  They were very willing to help.

Bram Spiero · Answer

Wholesaling is tough, as you need to master many disciplines. Negotiating, marketing, assessing rehab costs, determining ARVs.

Without these, you'll have a hard time providing enough value to your customers. The value you supply is bringing good deals that really work. When they do, your customers will be more than happy for you to make good money off of a deal.

You can learn almost all of the theory behind this here on BP but you're still going to have to put in the leg work.

You do not need a Guru to go look at so many houses that you start understanding value, cost, what run down looks like, what rehabbed looks like and what the difference in price is and needs to be.

Good luck

David Dachtera · Answer

@Nate Kooiman,

The education I'm connected to has wholesaling and other courses to the tune of about $500 each. They just aren't available ala carte - ya gotta get the whole enchilada.

That's good, tho. Instead of finding properties to fit the one or two or ... strategies you know, when you find a property you can figure out what strategy(-ies) would be the best fit(s).

There's even personal credit classes and, coming next quarter, a business credit class as well. (Very much anticipating THAT one!)

My $0.02 ...

Nate Kooiman · Answer

do yall sell your contracts or do you buy the property then sell or rent it?

Nate Kooiman · Answer

thanks guys i appreciate it. Do yall suggest any good books to learn more.

Pratik P. · Answer

Spending 5k to spend on a guru course or get licensed as a RE agent is a waste of money. Go listen to all the podcasts, read as much as you can about marketing. Then spend that 5k on marketing campaigns and bring in deals.

5K for a course on Wholesaling?

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