hi all I'm new to this, I've been studying and reading and talking to 3 people that have some experience with real estate. 1 has done deals in the past but says he made good money with his business currently he doesn't do anything real estate and says its to late to get into wholesaling because the big housing crisis has past, the 2 guy is an active investor and has several properties that he rents and says wholesaling is a smoke screens and basically people sale the course knowing its a did, the 3rd guy is an active broker who has done some wholesaling. he says he can help me with wholesaling and works closely with investor's, while telling me this He's showing me a house that he selling for one of the investors he works with. A first thought, great I found a mentor! Now I'm hoping he wasn't blowing because the lackbof communication we have when I reach out and ask questions, but he responds quicker when I talk about the house he showed me. With the 3 im kind of at a stand still as to what to think about my market and wholesaling.
All input is greatly appreciated.
The Good News: Wholesaling is alive and well! Simply put, it's "selling bargains to bargain-hunters." This has existed forever and always will: There will always be buyers who need deals and who just don't have the time or energy to build an effective marketing engine.
The Bad News: Wholesaling is not easy! If you don't have a reliable system for finding and developing good seller leads, you're toast (or soon will be).
Many wholesalers got spoiled during the crazy times right after the Crash. When the big hedge funds were spending like drunken sailors on a Saturday night, it was much easier to make money as a wholesaler. Sadly, those days appear to be well behind us.
Now, the deals are harder to find and there are more folks out there chasing them. So, that deal you sign up had better really be a good deal.
But, as long as it is truly a deal, you should have no problem finding a buyer and getting paid. And that's wholesaling.
The thing I like to tell people when they share their views of the market is " Whatever you think, you're right ".
What's my point?
You can make money in RE in any market if YOU choose to. Most people that are quick to hand out free advice are repeating what they have heard or read somewhere, not necessarily from their own experience.
Educate yourself and take action!
great advice thanks both of you for the perspective!!
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