Why most Wholesalers Fail
The journey of Wholesaling Real Estate can be VERY rewarding. Just like with any endeavor in life, victory does not come without a lot of heartache, sacrifice and struggles.
When you’re first starting out on your Wholesaling adventure (and “oh boy” it’s an adventure), you are going to have many “gut check” moments.
This, my friends, is where the rubber meets the road. This is right about the time when most of you will give up and throw in the towel. You will become scared. You will become confused. You will wonder if Wholesaling is for you.
This happened to me when I first started out in Wholesaling. This is totally normal. In fact, if you are NOT experiencing these types of thoughts and feelings, something is wrong!
I’m convinced that the only reason why myself and many of the people I work with have done so well with Wholesaling is because we were able to identify and push through these moments.
I’m not going to lie to you, it won’t be easy. I remember times when I was practically in tears because things weren’t going my way.
Sometimes it hurts...REALLY bad!
But know this: What you seek is “directly” on the other side of that pain.
These “gut check” moments will come to you in various forms. In this post, I want to share with you what I believe to be the three most significant gut check moments you can expect.
I like to refer to them as the "Three D’s" and man o man they can be dangerous!
If you allow it, the three D’s will stop you from having success in Wholesaling and rob you of your dreams. Just like with everything else in life, awareness is key. If you know what to expect going in, you are already ahead of like 98% of the population.
Imho, the three D’s is the universe's/God’s way of saying, “Hey, is this guy/gal really worth it? Are they really “ready” to have all of the success that Wholesaling can bring?”
So what ARE the three D’s? I’ll break them down for you here.
1. Doubt: What is doubt? What does it look like? Doubt in yourself, doubt in wholesaling – is this really real? Can you really make money wholesaling? Why would a homeowner ever sell their home at such a huge discount?
In order to get past this you must remember why you got into Wholesaling in the first place.
There are thousands of people out there making tens of thousands (and even hundreds of thousands) of dollars every month from Wholesaling houses and that's a fact!
Keep that in mind and remember that you are no different than anyone else.
2. Disappointment: What is disappointment? You’re working hard, you’re getting out there, but you’re starting to get disappointed because people are telling you: “I don’t wanna sell you my home at that discounted price.”
Or worse yet you’ve busted your butt to put a deal together and all of a sudden at the last minute, the seller and the buyer decide not to either sell or buy and the whole deal falls apart.
Disappointment just means that you’re getting closer so you gotta stick with it. You MUST stick with it! Don’t let failure be one of YOUR options.
3. Distraction: This is the last gut check moment and potentially the worst one of the three. This is the one that’s gonna come out from under your bed and grab you. Some people call it “shiny object syndrome”.
All of a sudden, right at the moment that you’re about to have success, one of your old high school buddies comes along, and says, “Hey, I have a way for you to make more money in a shorter amount of time.”
If you haven't read Gary Keller's, The One Thing, I HIGHLY recommend you read that book a.s.a.p. If you've decided to build a business through Wholesaling houses, make THAT your "one thing" and focus only on that.
Otherwise you'll just keep jumping from one thing to the next, having NO success, wondering why nothing ever works.
So regardless of where you are on your Wholesaling journey, understand that these things are coming for you. They are waiting for you and have your name written all over them. When they happen, you just gotta laugh it off.
You have to laugh to yourself and hopefully...remember this post :)
Set an egg timer and have yourself a three-minute pity party! You can blame me, blame yourself, blame your parents, blame your kids, blame whomever you want, you have my permission.
But then after those three minutes are up, get right back to work!
That’s when you are closer than you think you are. It's not anytime to be pumping the break. Actually, it's the exact time you want to punch the gas pedal and not look back!
So remember the three D’s: Doubt, Disappointment and Distraction, and never let them get the best of you. Happy Wholesaling!!