Why first deal is the most difficult?
Hey guys, I plan on starting my REI venture and currently taking in everything I can from this site.
One thing I often hear is the first wholesale deal is always the most difficult (6-12months). What I don't understand is why would the first one be more difficult than any other when its a repeat of the same process?
The only things I can thnk of are: The new wholesaler is doing something he/she is unfamiliar with and its a bit scary, and lack of marketing $ so they depending on inexpensive/shotgun methods of marketing such as bandit signs.
Hypothetically, if a new wholesaler were to start with 10-20k in marketing budget, would he or she be able to hit the ground running, or is there something I am missing that makes the first deal the most difficult?
Hopefully others people getting into wholesaling/marketing for rehabs have the same question and can benefit from this discussion at the expense of me asking a potentially stupid question!