Wholesaling real estate

6 Replies

Hello, I'm new to wholesaling real estate and I see it as a great opportunity to learn a new skill and to make profits also, can anyone if you would like to, send me any tips/information for a beginner as well as any advice on how and where to get investors.

Yo man,

You have to realize that BP gets tons of new members all asking the same question and that is why it will be challenging for people here to answer this question because for most it will seem pointless. Tomorrow another 5 people will ask that same question.

I was going to say to look here, and YouTube and learn, but that would be bad advise. Pretty much almost everyone does wholesaling wrong. So I will give you this advise and your homework is to research my advise and dive deeper into it and create a system based on this advise.

Wholesaling the right way is about being honest and transparent. We tell the homeowners: "Yo mami, I have ZERO intention buying your house. Instead I will put it under contract and I will sell that contract to an other buyer that WILL buy your house". More often than not they say "OK Great, lets get it started".

Second piece of advise. You do not need a course on wholesaling, or a mentor or much help on this. Why?

Wholesaling is putting a house under contract below market value OR for a price that still gives the end buyer plenty of opportunity to make a profit, and then assign that contract to an end buyer.

That is ALL wholesaling is. Do you need help or a mentor for this? Uhm No!

The challenge of wholesaling successfully is NOT wholesaling, it is LEAD GENERATION.

It is not wholesaling you need to learn or you need help with. It is how do you get people willing to sell their house for below market value is what the challenge is.

For this, get a website, make it credible, and drive motivated traffic to your website. DONE! Easy Peasy!

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Whats going on Ishmael,

The key is to become as valuable as you can before you enter this space. 

In the beginning you should be obsessed with podcasts, books, YouTube videos etc. Wholesaling is nothing more than problem solving, homeowners are relying on you to keep your word so it is critical that you understand this business.

Focus on learning more about:

Real Estate Sales

Marketing Strategies 

Real Estate Contracts

Transaction Coordinating

Etc.

I started back in 2018 and have since done Millions in wholesale fees by being obsessed with the process/learning and taking action.

Best of luck.

Ishmael, I'd recommend listening to "real estate disruptors" and "wholesale hotline".  Learn the basics, pick a marketing strategy (do you have time or money? you have to have a lot of 1 and at least little of the other), take action on the revenue generating actions (marketing, aka lead gen), and BE CONSISTENT. So many wholesalers will try 1 marketing startegy for a week or two and then switch when they don't see results and do that new marketing strategy for another week or two, and so on. Then after a month or two they give up. CONSISTENCY. All marketing strategies work, especially for the purposes of getting your first few deals. Also, don't buy any mentorship programs until you get a deal or two. They can be very valuable to scale up, but if you haven't done any deals, keep that money and spend it on marketing. Keep in mind, I know millionaire wholesalers who took as much as 8 months to get their first deal. But once you get that first one, the next one comes much quicker. You have to have a certain mindset to make it in wholesaling, and even then you're gonna be fighting the urge to quit.