New to Wholesaling – Seeking Honest Feedback from Experienced Investors

Atlanta, Georgia
Wholesaling
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New to Wholesaling – Seeking Honest Feedback from Experienced Investors

Jardin Gwin
Member since 2023 · 21 posts · 7 votes

Hi everyone,

I’m a beginner trying to learn the ins and outs of wholesaling real estate. I’ve been watching Jerry Norton’s videos, listening to podcasts, and attended a webinar to better understand the process. From what I’ve gathered, wholesaling involves finding distressed properties (often on Zillow or Redfin), reaching out to sellers or their agents, negotiating a contract, and then assigning that contract to a cash buyer for a fee.

I’ve also heard that a big part of it is sending out a bunch of texts or making a lot of phone calls, talking with sellers, and waiting until someone finally says “yes” to your offer—then you potentially have a deal.

Before I take any action, I’m planning to talk with a couple of experienced people this week to make sure I fully understand what I’m getting into.

That said, I’d really appreciate honest feedback from those of you who’ve actually done deals:

• Is wholesaling a realistic and sustainable strategy today?

• What are some common pitfalls or legal risks new wholesalers should be aware of?

• For someone working full-time and in school, what’s the best way to start ethically and effectively?

• What are some things you wish you knew before your first deal?

I’m here to learn, not pitch anything—just trying to understand what’s real vs what’s just YouTube hype. Any insight or experience you’re willing to share would be greatly appreciated!

Thanks,

Jardin

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Michael Dumler
Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
1y

@Jardin Gwin, I don't intend to steer anyone in the wrong direction, and especially if you have a passion for real estate sales, you should pursue the industry. However, unveiling a realistic gut check since you're working full time and enrolled in school, it's fair to point out that your competition is fierce. Let's be honest; they have the time, energy, skills, team, experience, and resources to efficiently identify and source potential deals and successfully disposition them to end buyers. I'm sure you've heard that it takes 10,000 hours of intensive practice to achieve mastery of a skill.

If you see yourself one day doing this full-time and operating it as a business, then by all means, continue with the education process and hone in on developing your skills. Wholesaling is feasible, but you must be in it long-term to achieve results. Realistically, getting your first deal in the pipeline takes about six months of consistent prospecting. My two cents -it's very challenging to wholesale part-time, and your time and energy may be better spent elsewhere, i.e., working and saving capital to acquire an invesment property.   

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  • Stephen MoralesBusiness Member
    Jacksonville, FL · Member since 2025 · 402 posts · 205 votes
    1y

    1.) It is 100% realistic and sustainable as long as you reinvest in your business. You are going to suffer for quite a bit for before you can really turn this into a well oiled machine. 90% quit before they ever get there. 

    2.) Make sure you get your license if it is required by your state. As a beginner wholesaler I would be careful texting through SMS campaigns. Getting fined is a game ender for you. 

    3.) Depends on your budget and which strategy you want to go with. If you are going to call be ready to do it every waking minute you are not in school and working within allowed calling hours. 

    4.) That there are a lot of Buyers that turn out to be just daisy chainers, setting realistic expectations on the amount of calls that need to be done to see success.

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  • Stuart UdisPro Member
    Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
    1y

    Wholesaling is extremely competitive because there are no barriers of entry and anyone can participate. 

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  • Brandy Johnson
    Real Estate Consultant · Greensboro, NC · Member since 2016 · 50 posts · 10 votes
    1y

    Hey Jardin,

    Great to see you taking the time to learn before jumping in! Wholesaling is definitely a viable strategy, but like any business, it takes consistency, proper strategy, and understanding of the legal side to be successful. Since you asked for honest feedback, here’s my take:

    Is Wholesaling Realistic and Sustainable?

    Absolutely, but the market is more competitive than ever, and wholesalers who rely solely on Zillow/Redfin may struggle to find great deals. Direct-to-seller marketing (mailers, PPC, driving for dollars, etc.) tends to yield better results. It’s sustainable if you treat it like a business, build strong buyer relationships, and adapt as the market shifts.

    Common Pitfalls & Legal Risks

    • Marketing & Transparency: Some states now require wholesalers to disclose their role in transactions. Check local laws and ensure your contracts are airtight.

    • Not Understanding Seller Motivation: Wholesaling isn’t just about making offers—it’s about solving problems for distressed sellers. Approach conversations with value in mind, not just numbers.

    • Inaccurate ARV & Repair Estimates: If your numbers are off, you’ll struggle to assign deals. Work with an experienced investor or agent to get accurate comps.

    • Weak Buyer List: A good deal means nothing without a buyer. Focus on networking and building relationships with actual closers.

    Balancing Wholesaling with a Full-Time Job & School

    Since you’re juggling a lot, start with low-cost, high-impact strategies like:
    ✅ Driving for Dollars – Finding distressed properties and skip tracing owners to reach out.
    ✅ Networking – Connect with active investors who may already have leads they can’t handle.
    ✅ JV Deals – Partner with wholesalers who have deals but need buyers or vice versa.
    ✅ MLS & Agent Relationships – Some agents work with wholesalers and can bring you deals.

    What I Wish I Knew Before My First Deal

    1. Follow-up is EVERYTHING – Most deals happen after multiple touches, not the first call.

    2. Cash buyers are just as important as sellers – Vet your buyers to avoid last-minute dropouts.

    3. Contracts & Assignments Matter – Have an attorney review your agreements before doing deals.

    4. Mindset is Key – Rejection is normal. The ones who persist get results.

    You're already doing the right thing by learning and talking to experienced investors. Now, the key is taking action. Don't get stuck in "learning mode" forever—test strategies in small ways and build from there. Happy to help if you ever have questions.

    Best of luck! 🚀
    Brandy J

    1Reply
  • Michael Dumler
    Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
    1y

    @Jardin Gwin, I don't intend to steer anyone in the wrong direction, and especially if you have a passion for real estate sales, you should pursue the industry. However, unveiling a realistic gut check since you're working full time and enrolled in school, it's fair to point out that your competition is fierce. Let's be honest; they have the time, energy, skills, team, experience, and resources to efficiently identify and source potential deals and successfully disposition them to end buyers. I'm sure you've heard that it takes 10,000 hours of intensive practice to achieve mastery of a skill.

    If you see yourself one day doing this full-time and operating it as a business, then by all means, continue with the education process and hone in on developing your skills. Wholesaling is feasible, but you must be in it long-term to achieve results. Realistically, getting your first deal in the pipeline takes about six months of consistent prospecting. My two cents -it's very challenging to wholesale part-time, and your time and energy may be better spent elsewhere, i.e., working and saving capital to acquire an invesment property.   

    2Reply
    • Jardin Gwin
      OP
      Member since 2023 · 21 posts · 7 votes
      1y

      @Michael Dumler thank you for your advice. Since I already have a very busy schedule I'll look at saving  enough money so I can get a rental property. I've done quite a bit of research in wholesaling and it's a lot of work. So I'll look into another area that's more fitting. 

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  • Anthony Ciafre
    Investor · Charlotte, NC · Member since 2020 · 7 posts · 0 votes
    1y

    Jardin,

    • Is wholesaling a realistic and sustainable strategy today?

    Yes it somewhat realistic and a sustainable strategy.   However it takes a ton of work and hustle.  I've tried to take a few newer wholesalers under my wing (I didn't charge anything just offered to dispo their deals and we'd split profit).  All of them fizzled out.  You'll work your tail off in the beginning without see much results.

    • What are some common pitfalls or legal risks new wholesalers should be aware of? 

    My main concern with wholesaling is the future of the business. States now are starting to put in more laws that limit wholesaling. In SC it's a grey area whether you can market a property of not, nobody really has a full grasp on the law. VA you only can assign one property for an LLC therefore you have to open up all the LLCs which cost money.

    I wouldn't text, again this is a grey area.  

    Lots of competition because a low barrier to entry. 

    • For someone working full-time and in school, what’s the best way to start ethically and effectively.
    • What are some things you wish you knew before your first deal?

    I always tell people you have to know who you are.     Are you a person who is always going, never gives up, do you brush off rejections, etc?

    You either need, time, money or expertise.   We know expertise right now is not an option.   If you have money you can send direct mail to get leads out but its expensive (in the thousands monthly).  If money is an issue you need to understand you'll be making a ton of cold calls 50-100 a day, door knocking, getting your head bashed in and driving around looking for distressed houses.   Whether your colding calling, sending mailers, door knocking how do you feel about calling a property owner 15 times in 72 hours to get a hold of them?

    If I'm truly describing your personality/mentality you'll do well, if this isn't you go to a few local REIA events/Meet ups, talk to different people about their RE strategies and chose the best one that meets your personality/mentality that you could see yourself doing long-term.


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