Mentorship/Teaming up for Wholesaling

[Jacob Quintero]

Howdy!

I got into wholesaling about a month and a half ago. I've been dialing tons of agents trying to find my first deal to no avail. I've submitted a good amount of offers, but they're all getting thrown out. I know it takes time to find a deal, but I feel like I haven't gotten anywhere.

I have about $1k liquid a month to do marketing 'Direct to Seller' and I'm thinking of changing my approach to that instead of spending nothing and doing 'Direct to Agent'. I have no idea where to begin though (setting up my pipeline, setting up marketing, handling an offer where there isn't an MLS listing) and am currently looking for someone to mentor me/team up with me. Willing to split my first couple deals at a higher split to you or JV exclusively with you if you have a cash buyer list.

I've already been putting in the work, so I know I'm more than capable of acting on good advice. I just need 'the advice' to act on haha.

[Don Konipol]

Quote from @Jacob Quintero:

Howdy!

I got into wholesaling about a month and a half ago. I've been dialing tons of agents trying to find my first deal to no avail. I've submitted a good amount of offers, but they're all getting thrown out. I know it takes time to find a deal, but I feel like I haven't gotten anywhere.

I have about $1k liquid a month to do marketing 'Direct to Seller' and I'm thinking of changing my approach to that instead of spending nothing and doing 'Direct to Agent'. I have no idea where to begin though (setting up my pipeline, setting up marketing, handling an offer where there isn't an MLS listing) and am currently looking for someone to mentor me/team up with me. Willing to split my first couple deals at a higher split to you or JV exclusively with you if you have a cash buyer list.

I've already been putting in the work, so I know I'm more than capable of acting on good advice. I just need 'the advice' to act on haha.

Here’s the TRUTH

To SCALE and make “wholesaling” worthwhile financially, you need (1) a $5,000 - $10,000 MONTHLY marketing budget (2) the ABILITY to manage people (3) sales ability (4) negotiating ability (5)knowledge of real estate principles, finance and law (6) knowledge of your chosen real estate market (7) the ability to accurately identify repair, rehab, and upgrades and the knowledge to accurately cost them.

Your “tale” is the same for 98% + of the people who try to wholesaling.  You’re competing with people who have 25years of experience, 6 - 7 figure capital, etc.  The fantasy that one can be successful in this endeavor with limited experience and limited capital is put forth by people who have something to sell (like mentorships, leads, SEO), and attested to by people who badly want to believe it’s a way out of the workforce.  

There was a poster on BP many years ago who used to say if you want to sell real estate than instead of trying to wholesale why not get your real estate license and work as a licensed salesperson?  And I see the wisdom in his remark. However, 90% of people trying this route end up not making enough money to stay.  Let’s be blunt. Wholesaling, brokerage , etc isn’t real estate INVESTING.  It’s a commissioned sales gig in which you pay all the expenses and costs and do not receive a salary, base, or even a “draw”.