Help Start My Career!!!
Indianapolis, IN · Member since 2018 · 16 posts · 2 votes
Hey @Alyssa Correthers here are a few suggestions to get you thinking. First, learn the process which could be explained in these simple steps:
Step 1: Market to motivated sellers
Step 2: Sign purchase contract with the seller
Step 3: Find cash buyer
Step 4: Sign contract with cash buyer for a higher price and collect 2k deposit
Step5: Close Transaction via Assignment or Double Closing and Collect your check
Second, learn has much as possible about the 5 skills needed to be a Pro at wholesaling. They are marketing; estimating repairs; contracting; appraisals; and negotiating.
Last, spend 80% of your time marketing.
Hope this helps. Good luck.
Hey @Alyssa Correthers here are a few suggestions to get you thinking. First, learn the process which could be explained in these simple steps:
Step 1: Market to motivated sellers
Step 2: Sign purchase contract with the seller
Step 3: Find cash buyer
Step 4: Sign contract with cash buyer for a higher price and collect 2k deposit
Step5: Close Transaction via Assignment or Double Closing and Collect your check
Second, learn has much as possible about the 5 skills needed to be a Pro at wholesaling. They are marketing; estimating repairs; contracting; appraisals; and negotiating.
Last, spend 80% of your time marketing.
Hope this helps. Good luck.
@Alyssa Correthers Sounds like you have a good start. With regards to @Jose Flores Step#1, Marketing to motivated sellers, you should consider a mail campaign to find off-market leads. Work with a list broker to get suggestions for your market. Since Indianapolis is pretty competitive you probably want to mix a few lists together rather than doing all Absentee Owners. Consider Seniors with 15+ Year ownership and Homeowner with Low Financial Stability Scores (FSS).
Why do you want to wholesale if you’re already successful at owning rentals ?
Basically because i want another income!
@Alyssa Correthers I can think of easier/better ways to do that but good luck!
@Alyssa Correthers If you found great deals that you could possibly wholesale, why not just keep them for yourself? I personally would want to own more rentals versus wholesaling.
You start wholesaling when you have 0 experience doing flips.
You start wholesaling if you want to make money fast. (you don't have to wait 6 weeks, rehabbing a house hoping it will sell within an other 6 weeks).
You start wholesaling because it is the least amount of money of yours involved (if you do it right.
You start wholesaling because it is fun, and you can help a seller out that needs to sell fast.
You start wholesaling because YOU decided to and you do not give a crap what others say.
Having said this, never be so submissive. If someone gives you lip about wholesaling you say "Go suck on a dead smurf" and you keep the course.
You need to be sharp, a shark, strong, stubborn yet humble.
I started with wholesaling, and I have made 14K my first dal (in 3 months time), my second deal I made about 20K and my third deal about 9K (if I remember correctly).
People that ask "ohh why do you start with wholesaling" say it as if wholesaling is a lesser form of investing. As if it is frowned upon.
You want to know where I am now, because of wholesaling?
Because of wholesaling, I find deals 95% below market value (Bought a house for 5K)
I bought a ready to put on market house that is valued at 320K for less than 70% below market value with about 10K of repair cots (keep an eye out in the success story section within a month or 2).
Because of wholesaling, is my website stronger than most sites here.
Because of wholesaling am I WICKED tough and strong.
Because of WS am I a MASTER marketer, negotiator and superior deal finder.
Because of WS, am I now flipping 3 houses, and have 1 more under contract.
I started with wholesaling and because I'm really good at it, am I better than the average investor that never succeeded in wholesaling.
Wholesaling gives you the NUMBER 1 skill you NEED playing this investing game.
Finding seriously below market deals without having to spend a dime getting these deals.
So again, when someone asks you in a disapproval way WHY?
Tell them, because I plan to be 5 times better than you, investing, now move along!
Now, you need help wholesaling? I will teach you how better than ANY guru can.
You just need to trust me that this list is important and give it your all to take it seriously.
1) Grow thick skin.
There is a difference between being polite and being a pushover. You need thick skin and you need to be a go getter. Be determined and bend over for NO ONE. know what you want and know your worth.
2) Learn as much as possible about wholesaling, the laws and rules concerning this to stay in the legal zone.
3) Get a killer domain name and learn how to leverage a website to generate deals. To make deals you need just 2 things.
Credibility and SEO. Work on both items! I will pvt you my ultimate resource on how to be a master at both.
4) When you do master these 2 concepts, this is what you will encounter
You will start getting a ton of free high quality leads a day! My competitors get about 7 - 10 leads a month (in a good month). I get more a day than they get a month! Why?
I mastered SEO and Credibility!
5) Then get the basics down . The basics is what everyone regurgitates over and over. Get a buyers list, post on craigslist yada yada yada.
6) Learn how to be direct and honest with sellers. Contrary to popular believe here, telling sellers you have no intention of buying their house yet you will put it under contract actually WILL get you contracts signed, if you know how to explain what you are doing, and why, honestly!
7) Learn how Direct Mail Marketing works. Do NOT listen to anyone here on BP about DMM (except me of course..). Most people that push for some method, have a hidden agenda. They either own yellow letter printers, or list providers etc etc. Not saying they are bad... but their "advise" is biased. Listen to them , absorb their advise, but research and think on your own. This will make you successful. Use your OWN logic!
That too I can help you with in pvt.
Why wholesaling?
I tell you why.
Because I make these figures in days/weeks constantly and continuously.
Now the better question to ask is this.
Why the hell wouldn't you start with wholesaling?
Obviously I am not just talking a good talk. I know what I am doing. I can do it because I am taking a completely different approach EVERYONE here seems to be taking. Honesty is key. Period!
Have half a brain, be mentally strong and you WILL make it if you work as hard as I have!
Read this:
https://www.biggerpockets.com/blogs/7786/73261-my-...
then this:
https://www.biggerpockets.com/blogs/7786/73445-how...
If you want more way more specific instructions on how to do it step by step, write me a message. I have an invaluable resource for you that will give you step by step instructions how to get your first check!
Jerryll, people like you are why RE is awesome. Thank you for your candidness and mad scientist wholesaler post ;)
Thank you thank you. I have applications for evil minions and sidekicks out! We would go far I tell yous!
Why would you wholesale if you seem to have success in flips and rentals?
--
I think the first thing you should do is sit down and think about why you want to do real estate. Not only that, but what are you going to do. Draw out a life map and envision yourself in where you want to be 10 years from now..... 200 rental properties or a 300+ team of wholesalers dominating your area. Pick one. I just do not see why youd want to wholesale if you already have experience and success in the other though...
Why would you wholesale if you seem to have success in flips and rentals?
--
I think the first thing you should do is sit down and think about why you want to do real estate. Not only that, but what are you going to do. Draw out a life map and envision yourself in where you want to be 10 years from now..... 200 rental properties or a 300+ team of wholesalers dominating your area. Pick one. I just do not see why youd want to wholesale if you already have experience and success in the other though...
Why do you assume wholesaling is a lower step to anything else (better?)
Why do so many people have this mentality?
Do you know HOW many flippers go from flipping to wholesaling?
I think this is because people are clueless to what wholesaling really is.
I am absolutely baffled.
Why would you marry your wife if you are free and single? I think you need to sit down and think about how many women you could seduce. Why would you give up your freedom for a life in chains?
Does this not sound ridiculous?!
Why then would you assume your reasoning is not?
wow!
Nice red herrings bro.
Just giving my opinion. Not poo-pooing on the thought of wholesaling. Just curious on why she’d go from one form of real estate to another with no sign of catalyst to do so.
—
Also, I’m actually on here to give free advice with no strings attached, you’re only on here to promote your company. Might give another view for your overreactions.
Nice red herrings bro.
Just giving my opinion. Not poo-pooing on the thought of wholesaling. Just curious on why she’d go from one form of real estate to another with no sign of catalyst to do so.
—
Also, I’m actually on here to give free advice with no strings attached, you’re only on here to promote your company. Might give another view for your overreactions.
I know.
The thing is when a beginner investor interested in wholesaling gets bombarded with people's negative opinions on wholesaling and no offence, when their opinion (although an opinion) is just wrong, you discourage people for the wrong reasons. Someone needed to step in and defend wholesaling in a neutral way with a set of simple facts so they can make up their own mind.
There is plenty of reasons to start with wholesaling and I listed them.
I know you did not have ill intentions but I just didn't like how condescending the attitude towards wholesaling is.
Mind you I HATE wholesaling, but not because I hate it will I discourage people doing it, because the fact is... it is a SOLID strategy that actually is the fastest way to build capital to .. well whatever you want with it.
Ohh ... not everyone wants to own property.. it is a liability. I totally can see how someone rather wholesale rather than own property.
Lastly there is a big difference between giving an opinion... and assuming wholesaling is crap ( as if it being a fact) and then be baffled why anyone would choose wholesaling "when they already are successful investing", therefore implying, wholesaling = not successful investor".
Hence my example of getting married. I assumed that getting married is just flat out bad".
Your flaw here is you took as a fact that wholesaling could not possibly be a preferred choice.
No to YOU it may not be. But it is not a general rule that wholesaling is just something you could not possibly want to do ...
See what I am getting at?
I absolutely know you were not evil saying that. But I really think people should stop assuming THEIR opinions is fact.
:)
I dont get what youre trying to say and I dont have interest in reading a book on a guy trying to promote his company on every thread.
But sure. Have a good one and best of luck.
I dont get what youre trying to say and I dont have interest in reading a book on a guy trying to promote his company on every thread.
But sure. Have a good one and best of luck.
Sillybuns! Of course you don't know what I am trying to say if you don't read it.
Duh!!
@Adam Carl Birgenheier, I’m not going from one form of real estate to another... I’m going to keep doing what I’m doing now but I’m looking for something to do in between all of that. I’m looking for something real estate wise, to do in between the long flips & just collecting rent every month. Also looking for something that will bring in another income. I figured wholesale would be a good option...
@Jerryll Noorden, thank you for all your help!!
why not start your own business, or do something other than real estate? Blogs, podcasts, or YouTube videos maybe?
Maybe this is just me, but if you don’t focus, you won’t succeed. Listen if you want to listen to Mr. Pump Up and Promotion guy Jerryll, then go ahead and take his advice.
But if you want unbiased and honest advice. Stick to one. Sounds like you’re only in real estate for money instead of the intangibles which most all successful real estate investors are in for.
But like I said, do what ya think is best (-:
@Adam Carl Birgenheier Actually, I'm pretty sure most successful (and unsuccessful) investors are in real estate mainly for the money. I mean it's called.. investing :D Of course there are lots of pros/cons but money is the biggest pro.
@Jerryll Noorden Hey I am just starting out trying to get into wholesaling. I read a few books I been following people with experience on bigger pockets and youtube! I don't have much money but I put out bandit signs that's seems to get taken down! Its frustrating and all the information can start to become overwhelming. What can Newbies do what can they expect?
@Jerryll Noorden Hey I am just starting out trying to get into wholesaling. I read a few books I been following people with experience on bigger pockets and youtube! I don't have much money but I put out bandit signs that's seems to get taken down! Its frustrating and all the information can start to become overwhelming. What can Newbies do what can they expect?
First never ask a monkey for advice. What are you thinking?!
But because I am special, you did good.
So listen up. Sit down, get a pen , get a paper, get some popcorn, and throw it all out.
You don't need any of it.
You sought me out for advice so you better take this seriously, no matter how crazy this sounds Mmmmkay?
This will sound corny but want to be successful? OK then!!
Go to the gym, eat right, get tons of sleep. And again: go to the gym!!
Polish your mind and body, and gym does both. (Don't worry about why going to the gym works to be successful. It does! (I will explain why if you ask me).
Now..
From the gym, you will get a lot of confidence. Don't be like me though and have an ego from hell. Be humble and learn how to get that ego in check! You will radiate a positive self assuring positive attitude people subconsciously pick up on and they like you!
That confidence will radiate out. You will see yourself as a force not to be reckoned with. If you approach a seller timidly and trembling and carefully say " mmmmaybe could I please maybe wholesale your house if it is ok with you?"
NO! You say in a confident voice (and this does not just apply to wholesaling buy simply putting a house under contract). You explain what wholesaling is. You explain the benefits and the drawbacks, and then you give them your professional advise . (again only if wholesaling is their best bet). You say "Your best bet is simply to wholesale if you want better chances getting your house sold.
I never push for wholesaling simply because I rather flip said house. But sometimes sellers have a good reason to sell fast and want more for their house and wholesaling simply is the best solution.
But what ever it is wholesaling flipping buy and hold, it all depends on what you want to do and what situation the seller is facing. It is not about just you. It is also about the seller.
OK next. You are confident, sexy, have a butt of steel... now you need to justify that confidence with knowledge. Understand your niche. Understand all the flaws everyone is doing. Take all these flaws and make these flaws the features of your business.
Example.
Everyone claims an offer in 24 hours. That's such horse poop. If you have a website and a reputation like me, you get 8 leads or so.. a day.
That is about 30 leads a week. There is no way you can physically go to 8 appointments a day and then formulat8 offers.
So that is a flaw. I flat out make this a feature. I explicitly say on my site that anyone claiming to give an offer in 24 hours is just not a serious investor and is wasting your time.
can you give an offer in 24 hours? Sure, but then you are either a HUGE company employing many people, or you are a small time investor that only gets 1 lead a month.
If you are either of these, you are no threat to me because people don't want to sell to a huge company, and people do not want to sell to a small time wanna be investor.
So my claims are justified.
That is how I transform all the flaws of my competitors into features of my business and I boost my credibility score.
No, do not do bandit signs. You are braking the law. no no your COMPANY is breaking the law. What are image are you showing potential sellers? This company has no regard for laws and has no integrity. Also bandit signs give an impression of you being desperate. If you have to take all this effort to place signs all over in the cold/sun/rain/ how desperate must you be for clients? That MUST mean you suck monkey butt!
This is what you do. Everyone says wholesaling is fast money.
It is, HOWEVER, it is only when you are an established wholesaler getting deals an have a great buyers list (note I didn't say "huge" buyers list... I said GREAT buyers list). You just need a handful of serious cash buyers and investors and you better treat them well!
So what do you do?
You lock yourself up for 2 to 3 month, and you do nothing but setting yourself up with the tools you need.
Indeed all the info online can get very overwhelming. I suffered from analysis paralysis myself and it took me a year to finally do something.
The best way not to be overwhelmed it the wealth of information is to figure out what needs to be done first. You will have no idea how to do it and what comes next, but that is fine. Do it anyways and by the time you figure out step one, and you are working on step 1, you will have figured out step 2, 3 and 4. You keep at it and the path will show itself I PROMISE you this.
So for now, the first steps are these:
The following steps are these:
Now note however that each of these sub points have a plethora of other points you need to do.
For example.
"getting a website" is not as simple as going to Imyourdaddy (or was it godaddy?)
You need to find a killer domain name
You need to do SEO
You need to work on credibility etc,etc.
So like everyone else I just give you a list of things to do, but do you really understand the plan? Probably not.
This is the plan and justification of that list of things to do:
In order to be a successful investor you need to be an amazing marketer, and a negotiator. You need to be able to find deals. wait... let me rephrase that. You need to be able for sellers to beg you for YOU to be the one to work with them. THEY need to find you. THEY need to do the work. If THEY do all the work and effort, they will most likely stick with you. If YOU do the work and effort, they will find 5 more other people that also are willing to do the work and effort. If they invest time and energy in you, they will see it through!
This IS my secret!!!
In order for them to happen you need a way to be found by them. A website is the best way to do so! So our ENTIRE investing success depends solely on this website!! So you make sure this website is crazy good.
That is ALL there is to it.
Free highest quality leads for the picking.
In this list of things to do... I have focused on getting a good website, and on the infrastructure of your business .. what to do when leads come in (llc, attorney etc. etc.)
This is the logic behind that list of things to do. Now you know enough to go at it hard!
It is not the hard work that is the issue, it is not knowing what to do! And now you do!
OK seriously.. this definitely deserves 5 virgins, 3 goats, 6 brown chickens (virgins too), and 3 homecooked meals! You think I work for free? Gurl Pleeeezz!