Making $100,000 a month Wholesaling Houses
The other day a couple of Forum members were adamant that it was impossible for anyone to make $100,000 a month. For them it was an irrefutable fact. Of course it was - because of 3 factors which gave them a serious impediment.
The first limitation was a result of their ignorance - which could be easily overcome, with a little Education, Practice and the resultant experience which can help You develop the necessary skills and competence to become a $100,000 a month wholesaler.
The second limitation resulted from a lack of self-confidence. An inability to believe in oneself makes success hard to come by. This can be overcome with a little self development, and so is not an insurmountable obstacle. One way to gain belief is to observe what others have been capable of achieving and then recognize that they are not too different from yourself.
Have a look at the earnings some RE wholesalers are achieving. Many post their checks on Facebook so others can see how possible it is to make good money from wholesaling properties. Although not all are successful. The average earn per deal for a wholesaler is only $10,000. If that is all you make then in order to bring in $100,000 a month you need to do 10 deals. However some deals - on higher priced properties produce in the order of $30,000 and $40,000, with the occasional massive profit on really big deals. Below is a receipt one wholesaler posted evidencing what he gave the IRS as a consequence of him making $100,000 a month.
It is only a matter of simple arithmetic to work out what is achievable and then going about doing it!
The third impediment people have to becoming a success is intelligence. As the median IQ in the population is 100 - half of those doing wholesaling have an IQ below average - while the remainder have IQs above average. If you look at the lower end of the bell curve there are morons, cretins, imbeciles and idiots.
While there are pills these days to boost Intelligence it is unlikely that the two lads could raise theirs to the mean. Lamentably there is no remedy for stupidity.
As a general rule I do not partner with persons with an IQ under 110. You also need the Protestant Work Ethic and an extreme drive to be successful. Wanting to be mediocre or having a negative attitude simply won't cut it.
Whether it is possible to make $100,000 a month, who are you going to believe? A couple of Idiots or the guys who are actually doing it?