What industry did you come from Full time Wholesalers?

What industry did you come from Full time Wholesalers?

Investor · Arlington, VA · Member since 2014 · 151 posts · 37 votes

I think it'll be fun to hear where everyone came from prior to active REI.

I've had a heavy hands-on automotive experience. I have an engineering background in motorsports, however worked in nuclear right out of school, and then switched to navy weapons.  Its more systems engineering and proj management than technical engineering.

A lot of that can translate into what I want to do for REI in terms of building the lifecycle of automated systems.

What sparked this thought was a comment someone suggested to me. Basically he was inferring that wholesaling is grunt work that wasn't worth my time and I should be buying wholesale deals to rehab to retail flip and grow from there.

Although rehab flips and buy/hold rehabs is what I ultimately want, I simply just don't have the capital like many.   Cheap houses in my area are in the 400-500k range with at least 100k as a 20% stake when using OPM for a rehab proj.

So here comes wholesaling. My thought process is reguardless of how many struggling-to-support-a-family wholesalers there are, its a good foundation for any type of REI. Finding the discounted deal is the backbone of it all and compliments.

Feel free to share your stories and such

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  • Wholesaler · Powder Springs, GA · Member since 2013 · 516 posts · 143 votes
    10y

    I was a cart pusher at a major retail super store. I loved it, but they fired me. Long story short, here I am. 

  • Lincoln, NE · Member since 2015 · 15 posts · 1 vote
    10y

    Currently, I'm the general manager of a retail store. I'm making $27,000 a year, but this is the last job I'll ever have. When I'm not at the store, I'm at home researching and building my buyers list, and searching for deals throughout the state.

    My game is to wholesale properties to build the capital and invest in multifamily properties, following the principles outlined in Brandon's book. I plan to continue wholesaling after purchasing my first quad, in order to suppliment my monthly income, and move forward with the plan quicker. Once I have the capital, I'll start doing fix and flips.

    Wholesaling is the best place to start, like you said, because it teaches you to find the best possible deals. It's the foundation of REI and I'm learning new things every day.

  • Real Estate Investor · Oceanside, CA · Member since 2015 · 34 posts · 9 votes
    10y

    I am currently a Freelance Art Director in the Film/TV industry as well as an Onsite Manager at the apartment building I live in. Though the jobs keep me busy and I enjoy them, they are not quite living up to my financial goals. 

    I wanted to get into wholesaling for similar reasons, I want to progress into flips, buy & hold, and vacation rentals but need to build on the capital. 

    Thanks for the discussion! 

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