Creating a Mentor from a successful wholesaler

18 Replies

So, how can I get a good "hands on" wholesaler coach. I need someone that will really let me learn by doing or working with them. I do have someone that might let me work with him, but I want to know a way I can make a official offer to him so I can get legitimate coaching. Should I offer him $500-1000 a month just to come learn from him 2 days a week or something? And, From you successful wholesalers perspective, Would YOU coach someone for money if they asked you to? Should I sign up for investment coach in my local area...like this guy?

 http://timtaylorsuccesscoach.com/

Side note: I'm going to a REIA tonight in my local area.

If you've got a 500-1000 dollar a month budget I'd suggest giving Michael Quarles a call at yellowletters.com and set up a marketing campaign.  That's a ton of money to pay a guy to tell you what you is probably really basic to intermediate info (I don't know anything about Tim Taylor).  You could set up a 500 per month campaign and save your other 500 per month to consult with attorneys and pay for gas to drive around neighborhoods calling on fsbo's and for rent signs.  It's all about how much work you want to put in.  No Coach or marketing campaign will guarantee success.  Your first deal could very well cover many months of that strategy.

I have no affiliation with yellowletters

@Michael Linquist  

I couldn't agree more with @Tim Bishop  .  However, I will expand on his advice and suggest contacting Jerry Puckett as well as Michael Quarles.  They both are experts at marketing & different mailing campaigns.  Jerry also offers mentoring.

I will tell you right now that deal flow is your #1 need for any strategy involving the actual purchase and sell of properties.  That money you have burning a hole in your pocket is much better served getting your deal pipeline cranked up.

Also, since you are saying you want to rehab houses, you should focus on that, not wholesaling as an exit strategy.  Wholesaling can evolve naturally, because you're not going to be able to take down all the deals you uncover, if you seriously go after the lead generation & deal flow.  Find a good, experienced flipper and offer to do leg work for them.  Ask if they will let you accompany them on walk-thru's of the properties they are evaluating.

There's a lot to learn about the rehab process, and those people are great sources of information. 

I just reread your question and you mentioned you know a guy that wholesales who you hope would let you work with him for 500-1000.  Don't bother with that offer.  If he's honest he won't accept it, why would he take your money if you can provide value to him while you learn and if you can't provide value then you shouldn't waste his timeshadowing him.

What you can do is market for your own deals and then if you get in the middle of a good deal and can't make it close for whatever reason, pass it onto him and let him take most of the profit if he can walk you through it.  He'd probably go for it, and if not you're still learning.

Originally posted by @Hattie Dizmond :

@Michael Linquist 

I couldn't agree more with @Tim Bishop  .  However, I will expand on his advice and suggest contacting Jerry Puckett as well as Michael Quarles.  They both are experts at marketing & different mailing campaigns.  Jerry also offers mentoring.

I will tell you right now that deal flow is your #1 need for any strategy involving the actual purchase and sell of properties.  That money you have burning a hole in your pocket is much better served getting your deal pipeline cranked up.

Also, since you are saying you want to rehab houses, you should focus on that, not wholesaling as an exit strategy.  Wholesaling can evolve naturally, because you're not going to be able to take down all the deals you uncover, if you seriously go after the lead generation & deal flow.  Find a good, experienced flipper and offer to do leg work for them.  Ask if they will let you accompany them on walk-thru's of the properties they are evaluating.

There's a lot to learn about the rehab process, and those people are great sources of information. 

 Ok, I just registered for Michael Quarles site and I will look up Jerry Puckett after. Have you personally or one of your friends done Michael Quarles or Jerry Pucketts course? Did it make a big difference?  

I like your idea about offering to do free leg work and walk thrus with an experienced flipper in my area. 

Originally posted by @Tim Bishop :

If you've got a 500-1000 dollar a month budget I'd suggest giving Michael Quarles a call at yellowletters.com and set up a marketing campaign.  That's a ton of money to pay a guy to tell you what you is probably really basic to intermediate info (I don't know anything about Tim Taylor).  You could set up a 500 per month campaign and save your other 500 per month to consult with attorneys and pay for gas to drive around neighborhoods calling on fsbo's and for rent signs.  It's all about how much work you want to put in.  No Coach or marketing campaign will guarantee success.  Your first deal could very well cover many months of that strategy.

I have no affiliation with yellowletters

 What exactly do you mean by a "marketing campain". I have no idea how to even write a contract yet. Shouldn't I start with that first. What would a marketing campain do for a newbie like me? And why is consulting with attorneys a good idea. What will that do for me?

Originally posted by @Michael Linquist :

 What exactly do you mean by a "marketing campain". I have no idea how to even write a contract yet. Shouldn't I start with that first. What would a marketing campain do for a newbie like me? And why is consulting with attorneys a good idea. What will that do for me?

 Go to the BP fileplace Download all the wholesaling contracts and take them to a reputable real estate attorney to review.  The attorney should be able to go over them and advise you on some of the language on the contract as well as making sure you use it correctly and that it follows the norm in your state.  Put that attorneys contact info in your phone and call him if your deal or potential deal gets hairy.

A marketing campaign is anything that will get your phone ringing (direct mail for our purposes).  Once you have the sellers calling you you have a chance of making a deal and earning money.  Jerry Puckett or Michael Quarles can help you with this.  I haven't used Michael Quarles but his reputation is second to none.  I mentioned him because his name was fresh on my mind after I just went back and listened to his bp podcasts.  I have talked to Jerry Puckett about my marketing and am considering having him take over in 2015.  I'm currently doing my own direct mail and it's too much effort for the money saved.

Originally posted by @Hattie Dizmond :

@Michael Linquist 

I couldn't agree more with @Tim Bishop  .  However, I will expand on his advice and suggest contacting Jerry Puckett as well as Michael Quarles.  They both are experts at marketing & different mailing campaigns.  Jerry also offers mentoring.

So, I contacted Mike Quarles and he was very friendly. Great suggestion for a coach. I believe I will going with his coaching program over Tim Taylors coaching because it is drastically cheaper and offers the same thing. Also, Mike Quarles was very nice and had a sense of humor and on the plus side is still actively involved in real estate investing as well as contracting. So, thank you for the suggestion. 

I may use Jerry Puckett services in the future for marketing, but I believe you had the 2 mixed up. I don't think Jerry Puckett offers mentoring (just aggressive marketing) but Mike Quarles definitely does. I will start his program January 1st. 

@Michael Linquist  

If you check out Jerry's website, you will find he does indeed offer coaching services.  Honestly, I don't think you could go wrong either way.

Originally posted by @Hattie Dizmond :

@Michael Linquist 

If you check out Jerry's website, you will find he does indeed offer coaching services.  Honestly, I don't think you could go wrong either way.

 Woops, you were right, just found coaching on his website. I will see what he has to offer then. Thank you

Another newbie member asking about Tim Taylor training within minutes, what are the chances?

Short answer, NO!

Gurus are not mentors.

There's hundreds of forum posts about most  of the gurus, just search their name above.

I don't know much about the internet but I know every time a guru's name is mention it will draw traffic to them, at least increase the traffic, so I'm leery about these questions being that genuine, the answers are easily found.

If people are really that confused to pay that kind of money to "mentor" some niche that is so elementary I feel like I was in the wrong business. Maybe it's because we don't add enough sizzle and fluff to our posts here, maybe that's it, they want to be suckered thinking they are learning real estate. I'll investigate that some more.

  :) 

@Bill Gulley  

If it wasn't a genuine question I don't think he would have taken the time to actually talk to Michael enough to know that he was nice and had a sense of humor.  Maybe he made it up though... It could happen.

Its an interesting theory.  I'll keep my guru radar on high alert!

@Bill Gulley  

You add enough sizzle... Maybe light on the fluff but I consider your opinion on most things to be fact so you're doing fine.

I actually spoke to Michael and he seemed genuine enough. He seems a little lost and I am not certain, after reading todays posts, if he is ready for a coach.

It would be best for Michael to stay put until he has a handle on what his core business style will be. Until he decides upon a few basics he should not hire anyone. And the fact remains, BP is a great source of information.

Originally posted by @Michael Quarles :

@Bill Gulley  

I actually spoke to Michael and he seemed genuine enough. He seems a little lost and I am not certain, after reading todays posts, if he is ready for a coach.

That critique is more valuable than anything you will pay a guru to say.  Gurus will NEVER turn down your money.

I read the first post, saw the link to Taylor, then posted, wasn't aware of Michael and Jerry's involvement, sooooo, I won't choose one over another, negotiate, either one will work for food. (LOL)

I'm not working/posting for Tim Taylor, Michael Quarles, Jerry Puckett, or anyone but myself. lol, however, I guess I can't prove that over the internet. (You'll have to take my word for it). I just think that if a coaches program can receive "thumbs up" on this site I don't mind investing my money with that coach. 

Also, I would like to say thank you to Michael Quarles for actually caring about my decision and taking the time to read my post. That's pretty radical !

Originally posted by @Bill G.:

Another newbie member asking about Tim Taylor training within minutes, what are the chances?

Short answer, NO!

Gurus are not mentors.

There's hundreds of forum posts about most of the gurus, just search their name above.

I understand your rational, but just reading post from months to years ago doesn't make this much of a "live/active" community website, but more of a archive/book (I can go to Barnes and Noble to buy a book). Yes, I may have the same question as "Bob" did 2 years ago, but it's different when you post a question yourself. It means much more when you receive answers that someone took the time to write....Bashing Newbie post and telling them that there topic is "boring/common" and already been discussed isn't doing anything for newcomers but turning them off. 

I am meeting with my other partners tomorrow, the 12th, and I will be sharing the advice I was given from the posts I received.  I am so happy and enthusiastic about getting started and getting in the position to help someone else after I have the ability to do so.

@Michael Linquist  ,

I got your form request and colleague request and will be answering them soon, but I have to tell you I completely concur with Michael here. There's an educational component that is key, and you would really be wasting your money engaging either Michael or I (or just about anyone else) until you have absorbed the basics and made a few decisions.

You can get that learning done right here, right on BP, for free. I was green as can be when I got here and learned pretty much everything I know by reading forum posts from Michael Quarles, Ryan Webber, J. Scott, Aaron Mazzrillo and yes....Bill Gulley.

My model is to come along side when you're ready to take action and give you all the tools you need when you need them. I don't really have a "program" it's included in the marketing service I provide. 

I think Michael's offers an actual program that is more comprehensive and may actually be the better place to start. But bear in mind, he and I both likely say no to more people than we say yes to. 

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