New to Wholesaling

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Michael HaasBusiness Member
Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
3y

@Tashina Badgett-Thomas I would start networking with Wholesalers and Investor agents and see if there is an opportunity to partner with them, or take a job with their team to "Learn While You Earn". 

For a beginning wholesaler, I would expect to spend $1,500 a month on marketing and get your first deal in month three. I think the advice to join a team and learn while you earn is good no matter what, but it will be essentially if you can't afford to have $0 income and $4,500 expenses over the first three months. It takes a long time to see results in this business, which is why 95% of the people in your shoes will quit before they make real progress towards their goals. Its also why the folks like us and other investors do so well, because we were willing to put in the work and grind out the tough years to be in a position to enjoy the results later.

You didn't mention this, but if you're thinking about wholesaling part time don't even bother. It is a viciously competitive market, and if you want to go toe to toe with the big guys spending $1 Million a year on direct marketing you need to be putting at least 40 hours a week into this business; when you're new, time and energy is your only advantage!

Happy to talk about this more, feel free to hit me up.

[email protected]408-439-7873
HouseHack Seattle | Michael Haas & Team572 Reviews
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  • Bryant Brislin
    Title Representative · Irvine, CA · Member since 2017 · 874 posts · 519 votes
    3y

    That's a broad question.  It's like asking "how do I open a restaurant?" and someone is supposed to give a response in a few sentences...can't be done.  You should probably team up with someone who knows what they are doing.  That's how it's done in every other profession.  Or, if you could afford 10k-30k on mentorship, you can join one of the various mentorship groups out there with the various gurus out of Phoenix.

    0Reply
  • Roi Azoulay
    Real Estate Agent · New York, NY · Member since 2019 · 55 posts · 28 votes
    3y
    Quote from @Tashina Badgett-Thomas:

    Where should I start with wholesaling in Seattle? Education? Software?etc?


    Wholesale real estate has become a trend in the past few years among people who thought they could make more income by teaching the "secrets" than from actual real estate transactions; this trend is amplified by the power of social media, youtube, Facebook groups, etc.

    Before you surround yourself with the next shiny object, think if real estate is what you want to pursue and learn the basics. There are excellent resources out there nowadays, including books and tutorials. Even getting a real estate salesperson license is not that complicated. I would start with free, unbiased education and move along toward actual practice as an agent or salesperson under the supervision and guidance of someone local who is willing to train you and answer questions, learn about the RE laws of your state, become familiar with your market, see how comfortable are you speaking to strangers and build relationships; the rest is up to you. 

    1Reply
  • Kevin IveyPro Member
    Flipper/Rehabber · Marysville, WA · Member since 2020 · 216 posts · 126 votes
    3y

    Seattle has been a tough market due to the extreme increase in prices, (may have changed in the last year) but the rule of thumb is you will need to generate/ work about 1500 leads to find a deal in this market.   There are a number of companies doing it in the king/ pierce/ snohomish counties.  I even saw an ad where they were hiring a few weeks ago. 

    Its like most sale jobs lots of hustle and No's before you find the "deal" 

    Best of luck! (which is preperation meeting opportunity)

    0Reply
  • Michael HaasBusiness Member
    Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
    3y

    @Tashina Badgett-Thomas I would start networking with Wholesalers and Investor agents and see if there is an opportunity to partner with them, or take a job with their team to "Learn While You Earn". 

    For a beginning wholesaler, I would expect to spend $1,500 a month on marketing and get your first deal in month three. I think the advice to join a team and learn while you earn is good no matter what, but it will be essentially if you can't afford to have $0 income and $4,500 expenses over the first three months. It takes a long time to see results in this business, which is why 95% of the people in your shoes will quit before they make real progress towards their goals. Its also why the folks like us and other investors do so well, because we were willing to put in the work and grind out the tough years to be in a position to enjoy the results later.

    You didn't mention this, but if you're thinking about wholesaling part time don't even bother. It is a viciously competitive market, and if you want to go toe to toe with the big guys spending $1 Million a year on direct marketing you need to be putting at least 40 hours a week into this business; when you're new, time and energy is your only advantage!

    Happy to talk about this more, feel free to hit me up.

    [email protected]408-439-7873
    HouseHack Seattle | Michael Haas & Team572 Reviews
    WebsiteView Page
    7Reply
  • Tashina Badgett-Thomas
    OP
    Member since 2023 · 2 posts · 0 votes
    3y
    Thank you this was very informative and I sent you an inbox message for further details!  
    Quote from @Michael Haas:

    @Tashina Badgett-Thomas I would start networking with Wholesalers and Investor agents and see if there is an opportunity to partner with them, or take a job with their team to "Learn While You Earn". 

    For a beginning wholesaler, I would expect to spend $1,500 a month on marketing and get your first deal in month three. I think the advice to join a team and learn while you earn is good no matter what, but it will be essentially if you can't afford to have $0 income and $4,500 expenses over the first three months. It takes a long time to see results in this business, which is why 95% of the people in your shoes will quit before they make real progress towards their goals. Its also why the folks like us and other investors do so well, because we were willing to put in the work and grind out the tough years to be in a position to enjoy the results later.

    You didn't mention this, but if you're thinking about wholesaling part time don't even bother. It is a viciously competitive market, and if you want to go toe to toe with the big guys spending $1 Million a year on direct marketing you need to be putting at least 40 hours a week into this business; when you're new, time and energy is your only advantage!

    Happy to talk about this more, feel free to hit me up.


    0Reply
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