Trying to get started in Wholesaling

[Andre F Samuels]

Good Evening,

I just wanted to introduce myself.

I am Andre,  a 23 year old novice real estate investor in Dayton, Ohio (& surrounding cities). I have wanted to get the ball rolling as a investor (wholesaling & multi-family) for about a year now but with out the proper knowledge and guidance deals never came through. But that is okay , because today is the day I take action.  I will get my first whole sale deal in the next 30 days !  I am claiming it ! This is the beginning of a very prosperous life for me !

I wish everyone reading this the best on there future endeavors as well !                                                                                                 If you have any advice on getting started in wholesaling or just simply want to connect PLEASE comment or message me

Thank You

[Jerryll Noorden]

Way to go my man!. Go get them!

Remember, anything REI is about marketing.

The most successful of REI are those that get the best leads. To get the best leads you need to be a rockstar marketer. So focus on marketing.

Then you focus on value. You need to give the seller value, and you need to get your backend buyer value. Both of them are your clients. As long as you give legitimate value (priority lies always with the seller, then buyer, then you) it is nearly impossible to fail at this game!

[Charlie MacPherson]

I love the enthusiasm! 

However, please realize that wholesaling is another name for "unlicensed real estate brokering" and is illegal in nearly every state.

It is impossible for you to "give the seller value" while you are pretending that you are going to buy their property when your real intention is to assign the purchase contract to another buyer.  That's how wholesaling normally works.  You're stealing value from the seller, because your fees are normally FAR more than a standard 2.5% Realtor's commission. 

BTW, that's "Fraud in the Inducement" - convincing another to enter into a contract, when you don't have both the means (money$$$) or intent (you intend to assign) to fulfill.

Do people wholesale and get away with it every day?  Sure.  Right up until a pissed off family member figures out that you screwed Grandma out of $20,000 (or more) of her equity.  Good luck in front of a judge!

Instead of trying to screw the ignorant and desperate out of their real estate equity, how about making money honestly?

Maybe:

a: Get a real estate license and earn a commission.
b: Double-close on the property.  Buy it, fix it and re-sell it at a profit.

On option b, Everybody wins.  The town gets a (sometimes) delinquent wreck back on the tax roles. The neighbors see the neighborhood getting fixed up.  The seller dumps his wreck.  You fix it up and sell for a HUGE profit.  Everybody wins.

Best of luck in whatever you decide.

[Andre F Samuels]

Quote from @Jerryll Noorden:

Way to go my man!. Go get them!

Remember, anything REI is about marketing.

The most successful of REI are those that get the best leads. To get the best leads you need to be a rockstar marketer. So focus on marketing.

Then you focus on value. You need to give the seller value, and you need to get your backend buyer value. Both of them are your clients. As long as you give legitimate value (priority lies always with the seller, then buyer, then you) it is nearly impossible to fail at this game!

 I appreciate your reply ! I haven't thought about it in this way far as focusing on marketing , so I am definitely going to add that in my curriculum . thank you for the gem , I will keep you posted when I get my first closed deal !

[Jerryll Noorden]

Quote from @Andre F Samuels:

Quote from @Jerryll Noorden:

Way to go my man!. Go get them!

Remember, anything REI is about marketing.

The most successful of REI are those that get the best leads. To get the best leads you need to be a rockstar marketer. So focus on marketing.

Then you focus on value. You need to give the seller value, and you need to get your backend buyer value. Both of them are your clients. As long as you give legitimate value (priority lies always with the seller, then buyer, then you) it is nearly impossible to fail at this game!

 I appreciate your reply ! I haven't thought about it in this way far as focusing on marketing , so I am definitely going to add that in my curriculum . thank you for the gem , I will keep you posted when I get my first closed deal !

 Please do (keep me posted) Show the world when you are motivated, take the right action, and use your head, you will get far!

Start a blog and document your journey. That is what I did when I got started and believe me when I say, it made all the difference!

And BTW, wholesaling is not illegal if done correctly.

Look into double closing! ;)

[Lileth Nelson]

Start a blog on documenting your journey, great idea. Thank you.

[Brian Bohrer]

Hey @Andre F Samuels,

I saw your post today and it aligns with my goals for the next 30 days as well!  I am a newly licensed agent who is looking for investor worthy deals to pass along to my buyers.  I have not delved into the Wholesaling game as of yet, but see it is a viable route to earn my first paycheck in the real estate world.  

I was curious if you could share your experience and give me some tips and pointers on how to get the ball rolling.  Thank you in advance for any information you can provide!

[Michael K Gallagher]

Quote from @Andre F Samuels:

Good Evening,

I just wanted to introduce myself.

I am Andre,  a 23 year old novice real estate investor in Dayton, Ohio (& surrounding cities). I have wanted to get the ball rolling as a investor (wholesaling & multi-family) for about a year now but with out the proper knowledge and guidance deals never came through. But that is okay , because today is the day I take action.  I will get my first whole sale deal in the next 30 days !  I am claiming it ! This is the beginning of a very prosperous life for me !

I wish everyone reading this the best on there future endeavors as well !                                                                                                 If you have any advice on getting started in wholesaling or just simply want to connect PLEASE comment or message me

Thank You

 Love it!  dayton is a great market!  feel free to throw me on your disposition list I'd love to see the deals you find. And just remember its all about the lead metrics and the consistency.  

[Maurice Smith]

@Michael K Gallagher Concur, Dayton is a really good market. Would you be interetsed in connecting and discussing the Dayton market more? 

[Jerryll Noorden]

Quote from @Brian Bohrer:

Hey @Andre F Samuels,

I saw your post today and it aligns with my goals for the next 30 days as well!  I am a newly licensed agent who is looking for investor worthy deals to pass along to my buyers.  I have not delved into the Wholesaling game as of yet, but see it is a viable route to earn my first paycheck in the real estate world.  

I was curious if you could share your experience and give me some tips and pointers on how to get the ball rolling.  Thank you in advance for any information you can provide!

 In any business... it is about value, and credibility.

Credibility gives you lead generation,

Value gets you Demand Generation.

It is value that gets people to like and trust your brand. See this as brand awareness, brand reputation etc. etc.

Most people when doing REI, absolutely do not think logically, or strategically. The set up is your foundation. Everyone starts sending mailers, drive for dollars and starts cold calling.

This is not value, nor credibility.

You start with setting up your business so that you look sound act smell like a compitent business.

So, a website is first. Then build credibility via your website.

Once that is set up, you focus on giving value, through any and all online channels including your site, forums, social media etc. etc.

See what I am doing right now, to you, bigger pockets, and my youtube channel? 

I offer value. I am not pitching my services (although a lot of you confuse giving plain and simple value for no other reason than giving value, with pitching a sale's pitch).

I simply give advice, guide people, teach and help. Once you give value, you either have helped a person out, .. great, and/or you are working on brand awareness, brand reputation, competence, and being the authority. Again, now I'd like to think I am the authority here when it comes to motivated seller leads generation.

So now you have focused on brand awareness.

NOW that all this is set up, you now focus on marketing.

EVERYTHING about marketing is "user experience".. will people get pissed off if you cold call them? Yup! So this means BAD user experience. Do you see that now you are doing the COMPLETE opposite to giving value? You are UNDOING all the good reputation you have built with so much effort.

People usually BLINDLY without much thought "start" wholesaling.. and then they wonder why no matter how hard they push, they are not getting successful. With every marketing you do, you need to make sure you add value and credibility to your company your brand and your image.

This is what you need to adhere to, and forget what all these damn gurus tell you on how to do wholesaling!

[Eliott Elias]

Fail forward, too many people spend too much time with education with no action. Learn in the field, theres no better learning experience than when you lose a deal 

[Nate Sanow]

The simplest answer and step is to talk to as many property owners as possible as soon as possible.