Quit My Job and Plan to Wholesale
Flipper/Rehabber · Baltimore, MD · Member since 2018 · 265 posts · 387 votes
Quit My Job and Plan to Wholesale
Most Popular Reply
What was your job?
Im always so confused by these, at what point did your job prevent you from doing a deal? Was it not possible to do both?
I guess depending on what the job was then maybe that plays into it some...but curious of the thought process on this..
556 Replies
- Flipper/Rehabber · Baltimore, MD · Member since 2018 · 265 posts · 387 votes8y
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
I've got about 5 buyers on my cash buyers list now in the past 5 days and that's been WITHOUT marketing. I've also just gotten my FIRST COMPLETELY "ORGANIC" cash buyer sign up on my website from a mere internet search. That's pretty exciting I must say... :D
Keep in mind buyers are liars. you going to need tons of them.. if you can get to a real player that's what U need.
you know how many cash buyers are on BP that have no money LOL.. but talk a good game.. ??? so keep reality in focus.
Haha, on I'm sure! Just looking at numbers, I've heard you need about 15 buyers for every 1 seller in order to sell anything. I'm just excited that someone found my website, trusted it enough (as I'm still working on it and it's been up less than a week), and signed up organically without any marketing on my part!
you can either go the shot gun approach with a bunch of wanna bee's that waste your time.. OR instead of doing that research public records find out WHO the REAL buyers are and only present deals to them..
Absolutely! I've been doing some research on the ways of doing that. Listsource seems to be one that comes up a lot. As I had initially suspected, based on my preliminary Listsource search, my current zip code and the ones immediately surrounding me have had a high number of cash buyers in the past 3 months.
that's all bunk... its very easy.. just go to the tax records.. and scroll through when you see BBG investements owns 150 properties ( just pulling out a name) in the area you want to work.. that's your buyer... cut out all the middle men joker wholesale brokers and take your deals direct to the buyers.. GIS is public information.. learn how to use it.. its how I create all my custom data bases.. of course I use a VA to do it for me.. but we give them the path.. they create the product..
Excellent Jay! Thank you for the tip. :)
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
I've got about 5 buyers on my cash buyers list now in the past 5 days and that's been WITHOUT marketing. I've also just gotten my FIRST COMPLETELY "ORGANIC" cash buyer sign up on my website from a mere internet search. That's pretty exciting I must say... :D
Keep in mind buyers are liars. you going to need tons of them.. if you can get to a real player that's what U need.
you know how many cash buyers are on BP that have no money LOL.. but talk a good game.. ??? so keep reality in focus.
Haha, on I'm sure! Just looking at numbers, I've heard you need about 15 buyers for every 1 seller in order to sell anything. I'm just excited that someone found my website, trusted it enough (as I'm still working on it and it's been up less than a week), and signed up organically without any marketing on my part!
you can either go the shot gun approach with a bunch of wanna bee's that waste your time.. OR instead of doing that research public records find out WHO the REAL buyers are and only present deals to them..
Absolutely! I've been doing some research on the ways of doing that. Listsource seems to be one that comes up a lot. As I had initially suspected, based on my preliminary Listsource search, my current zip code and the ones immediately surrounding me have had a high number of cash buyers in the past 3 months.
that's all bunk... its very easy.. just go to the tax records.. and scroll through when you see BBG investements owns 150 properties ( just pulling out a name) in the area you want to work.. that's your buyer... cut out all the middle men joker wholesale brokers and take your deals direct to the buyers.. GIS is public information.. learn how to use it.. its how I create all my custom data bases.. of course I use a VA to do it for me.. but we give them the path.. they create the product..
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Matt K.:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
I've got about 5 buyers on my cash buyers list now in the past 5 days and that's been WITHOUT marketing. I've also just gotten my FIRST COMPLETELY "ORGANIC" cash buyer sign up on my website from a mere internet search. That's pretty exciting I must say... :D
Keep in mind buyers are liars. you going to need tons of them.. if you can get to a real player that's what U need.
you know how many cash buyers are on BP that have no money LOL.. but talk a good game.. ??? so keep reality in focus.
Haha, on I'm sure! Just looking at numbers, I've heard you need about 15 buyers for every 1 seller in order to sell anything. I'm just excited that someone found my website, trusted it enough (as I'm still working on it and it's been up less than a week), and signed up organically without any marketing on my part!
you can either go the shot gun approach with a bunch of wanna bee's that waste your time.. OR instead of doing that research public records find out WHO the REAL buyers are and only present deals to them..
Absolutely! I've been doing some research on the ways of doing that. Listsource seems to be one that comes up a lot. As I had initially suspected, based on my preliminary Listsource search, my current zip code and the ones immediately surrounding me have had a high number of cash buyers in the past 3 months.
that's all bunk... its very easy.. just go to the tax records.. and scroll through when you see BBG investements owns 150 properties ( just pulling out a name) in the area you want to work.. that's your buyer... cut out all the middle men joker wholesale brokers and take your deals direct to the buyers.. GIS is public information.. learn how to use it.. its how I create all my custom data bases.. of course I use a VA to do it for me.. but we give them the path.. they create the product..
wow awesome site book marking this one.. thanks.
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Matt K.:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
I've got about 5 buyers on my cash buyers list now in the past 5 days and that's been WITHOUT marketing. I've also just gotten my FIRST COMPLETELY "ORGANIC" cash buyer sign up on my website from a mere internet search. That's pretty exciting I must say... :D
Keep in mind buyers are liars. you going to need tons of them.. if you can get to a real player that's what U need.
you know how many cash buyers are on BP that have no money LOL.. but talk a good game.. ??? so keep reality in focus.
Haha, on I'm sure! Just looking at numbers, I've heard you need about 15 buyers for every 1 seller in order to sell anything. I'm just excited that someone found my website, trusted it enough (as I'm still working on it and it's been up less than a week), and signed up organically without any marketing on my part!
you can either go the shot gun approach with a bunch of wanna bee's that waste your time.. OR instead of doing that research public records find out WHO the REAL buyers are and only present deals to them..
Absolutely! I've been doing some research on the ways of doing that. Listsource seems to be one that comes up a lot. As I had initially suspected, based on my preliminary Listsource search, my current zip code and the ones immediately surrounding me have had a high number of cash buyers in the past 3 months.
that's all bunk... its very easy.. just go to the tax records.. and scroll through when you see BBG investements owns 150 properties ( just pulling out a name) in the area you want to work.. that's your buyer... cut out all the middle men joker wholesale brokers and take your deals direct to the buyers.. GIS is public information.. learn how to use it.. its how I create all my custom data bases.. of course I use a VA to do it for me.. but we give them the path.. they create the product..
I don't see owner names though on this.. ???? but I love the mapping for sure.. pretty cool.. being a map guy
- Flipper/Rehabber · Baltimore, MD · Member since 2018 · 265 posts · 387 votes8y
Originally posted by @Jay Hinrichs:
Originally posted by @Matt K.:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
I've got about 5 buyers on my cash buyers list now in the past 5 days and that's been WITHOUT marketing. I've also just gotten my FIRST COMPLETELY "ORGANIC" cash buyer sign up on my website from a mere internet search. That's pretty exciting I must say... :D
Keep in mind buyers are liars. you going to need tons of them.. if you can get to a real player that's what U need.
you know how many cash buyers are on BP that have no money LOL.. but talk a good game.. ??? so keep reality in focus.
Haha, on I'm sure! Just looking at numbers, I've heard you need about 15 buyers for every 1 seller in order to sell anything. I'm just excited that someone found my website, trusted it enough (as I'm still working on it and it's been up less than a week), and signed up organically without any marketing on my part!
you can either go the shot gun approach with a bunch of wanna bee's that waste your time.. OR instead of doing that research public records find out WHO the REAL buyers are and only present deals to them..
Absolutely! I've been doing some research on the ways of doing that. Listsource seems to be one that comes up a lot. As I had initially suspected, based on my preliminary Listsource search, my current zip code and the ones immediately surrounding me have had a high number of cash buyers in the past 3 months.
that's all bunk... its very easy.. just go to the tax records.. and scroll through when you see BBG investements owns 150 properties ( just pulling out a name) in the area you want to work.. that's your buyer... cut out all the middle men joker wholesale brokers and take your deals direct to the buyers.. GIS is public information.. learn how to use it.. its how I create all my custom data bases.. of course I use a VA to do it for me.. but we give them the path.. they create the product..
I don't see owner names though on this.. ???? but I love the mapping for sure.. pretty cool.. being a map guy
There are owner names when you hover your mouse over the parcel, at least around my area where I checked, and the names appeared accurate based on the ones that I know. It also answered who owns the lots of vacant land in my area that I've been curious about since moving here years ago, haha. However, on the homepage there is a search box that says you can search by property owner. I searched myself and it didn't seem to work properly (i.e. I didn't come up).
- 8yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Matt K.:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
I've got about 5 buyers on my cash buyers list now in the past 5 days and that's been WITHOUT marketing. I've also just gotten my FIRST COMPLETELY "ORGANIC" cash buyer sign up on my website from a mere internet search. That's pretty exciting I must say... :D
Keep in mind buyers are liars. you going to need tons of them.. if you can get to a real player that's what U need.
you know how many cash buyers are on BP that have no money LOL.. but talk a good game.. ??? so keep reality in focus.
Haha, on I'm sure! Just looking at numbers, I've heard you need about 15 buyers for every 1 seller in order to sell anything. I'm just excited that someone found my website, trusted it enough (as I'm still working on it and it's been up less than a week), and signed up organically without any marketing on my part!
you can either go the shot gun approach with a bunch of wanna bee's that waste your time.. OR instead of doing that research public records find out WHO the REAL buyers are and only present deals to them..
Absolutely! I've been doing some research on the ways of doing that. Listsource seems to be one that comes up a lot. As I had initially suspected, based on my preliminary Listsource search, my current zip code and the ones immediately surrounding me have had a high number of cash buyers in the past 3 months.
that's all bunk... its very easy.. just go to the tax records.. and scroll through when you see BBG investements owns 150 properties ( just pulling out a name) in the area you want to work.. that's your buyer... cut out all the middle men joker wholesale brokers and take your deals direct to the buyers.. GIS is public information.. learn how to use it.. its how I create all my custom data bases.. of course I use a VA to do it for me.. but we give them the path.. they create the product..
I don't see owner names though on this.. ???? but I love the mapping for sure.. pretty cool.. being a map guy
There are owner names when you hover your mouse over the parcel, at least around my area where I checked, and the names appeared accurate based on the ones that I know. It also answered who owns the lots of vacant land in my area that I've been curious about since moving here years ago, haha. However, on the homepage there is a search box that says you can search by property owner. I searched myself and it didn't seem to work properly (i.e. I didn't come up).
as usual it does not work for me.. I have my personal house up but cant find anywhere were the vesting is displayed.. when you go to assessor there is no vesting info... I suspect it there but I cant find it.. its why I hire people to do this stuff LOL
- Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes8y
Originally posted by @Melanie Hartmann:
I've got about 5 buyers on my cash buyers list now in the past 5 days and that's been WITHOUT marketing. I've also just gotten my FIRST COMPLETELY "ORGANIC" cash buyer sign up on my website from a mere internet search. That's pretty exciting I must say... :D
Let's talk about that organic entry. Thst is very i treating having a brand new site. I think Google just indexed you and is fluctuating the position of your site. Still very interesting you already have an organic lead come in.
Good job!
Respect the monkey!
Mouse power
- Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 17k+ votes8y
Originally posted by @Matt K.:
Originally posted by @Jay Hinrichs:
Cool link. I haven't quite figured out how to use it (I can't even seem to find myself!) but definitely useful.
EDIT: Ok, maybe not so cool. The information (at least in my area) is woefully out of date. I went to some of my specific parcels and it still shows owners from 3-4 years ago in some cases. And I know my local (TN) mapping shows them correctly. Oh well, interesting to look at anyway.
Skyline Properties I have no idea how to use that link I just came across it a while back... figured it'd be helpful to those that might have better grasp. I am able to pull up one of my rentals, but not another set in a different county, but again I have no idea if I'm even using it correctly.
- Real Estate Broker · IL · Member since 2016 · 284 posts · 178 votes8y
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
I've got about 5 buyers on my cash buyers list now in the past 5 days and that's been WITHOUT marketing. I've also just gotten my FIRST COMPLETELY "ORGANIC" cash buyer sign up on my website from a mere internet search. That's pretty exciting I must say... :D
Keep in mind buyers are liars. you going to need tons of them.. if you can get to a real player that's what U need.
you know how many cash buyers are on BP that have no money LOL.. but talk a good game.. ??? so keep reality in focus.
Haha, on I'm sure! Just looking at numbers, I've heard you need about 15 buyers for every 1 seller in order to sell anything. I'm just excited that someone found my website, trusted it enough (as I'm still working on it and it's been up less than a week), and signed up organically without any marketing on my part!
you can either go the shot gun approach with a bunch of wanna bee's that waste your time.. OR instead of doing that research public records find out WHO the REAL buyers are and only present deals to them..
Absolutely! I've been doing some research on the ways of doing that. Listsource seems to be one that comes up a lot. As I had initially suspected, based on my preliminary Listsource search, my current zip code and the ones immediately surrounding me have had a high number of cash buyers in the past 3 months.
that's all bunk... its very easy.. just go to the tax records.. and scroll through when you see BBG investements owns 150 properties ( just pulling out a name) in the area you want to work.. that's your buyer... cut out all the middle men joker wholesale brokers and take your deals direct to the buyers.. GIS is public information.. learn how to use it.. its how I create all my custom data bases.. of course I use a VA to do it for me.. but we give them the path.. they create the product..
^^^ Solid advice !!!!
Go after the buyers. Get to know them and what they are looking for so when you have a deal you can present it to them knowing they are serious.
- Real Estate Agent · Dallas Tx · Member since 2018 · 9 posts · 12 votes8y
I just signed up to bigger pockets and this is the first post I read. Filled with so much negativity. Instead of listening to her situation and helping everybody is so focused on her past 6 months instead of giving valuable information to make her next 6 months run as smooth as possible ...smh
- Flipper/Rehabber · Baltimore, MD · Member since 2018 · 265 posts · 387 votes8y
Originally posted by @D'kavvin Wilson:
I just signed up to bigger pockets and this is the first post I read. Filled with so much negativity. Instead of listening to her situation and helping everybody is so focused on her past 6 months instead of giving valuable information to make her next 6 months run as smooth as possible ...smh
Agreed D'kavvin! I'm honestly surprised and disappointed by it all. I assumed BP was better than that...
Either way, I shall focus on all of the good that has come from posting this AND there has been plenty. So a big big big thanks and shout-out to everyone who didn't waste their time or mine or anyone else's by posting useless negative comments.
There has only been one person to say be careful who has actually done something similar... everyone else, well they are just talking out of their you know what... I've had many more say they are doing or have done similar and are successful and provided tips and strategies or just talked game plans with me. It's been great really.
I mean, I've had a random buyer find my site all on their own and sign up. I don't care if they end up buying NOTHING EVER. The fact they found my less than a week old site and felt compelled/comfortable enough to sign up is FREAKING AWESOME! I've been at this for only 5 days now building up my brand and online presence. I'm connecting with other local investors/wholesalers and have been working on this venture almost every waking moment for the past several days. I have no doubts that I will make this work. (BUT, if it doesn't there's a HUGE safety net in place.) Ain't no thang! haha
- Flipper/Rehabber · Baltimore, MD · Member since 2018 · 265 posts · 387 votes8y
Just posted my sites to a wholesaling group I belong to on Facebook. Someone posted: Who has a website? There was a long list of comments. I threw mine up and got two more buyer leads in 5 minutes time. Yea, they may be duds... but whatever. Can't know until you try!
- Flipper/Rehabber · Baltimore, MD · Member since 2018 · 265 posts · 387 votes8y
These are not my checks but will be soon enough and I CANNOT wait to shove my check pictures in all of the naysayers faces. Ijs, I'll be bragging all the way to the bank!
- Specialist · San Francisco, CA · Member since 2018 · 36 posts · 30 votes8y
@Melanie Hartmann I'm sure you realize this by now, but don't EVER let ANYONE tell you what you CAN or CANNOT do! Only YOU know what works for YOU! I had soooo many people tell me that I shouldn't leave my corporate job, because it was so secure and safe, and blah freakin blah. Look, I am not the type of person who works well in a box of any kind. I have my own ideas, my own desires, my own passions and the determination and discipline to make things happen.
One of the motivational speeches I listen to on Spotify (Fearless Motivation) said it best: "I refuse to conform to what OTHERS want for me, what others believe I should do with MY LIFE. I refuse to be a slave to the system. I refuse to believe in the impossible, because I KNOW NOTHING IS IMPOSSIBLE." And remember, most people make decisions based on fear. It is scary to not have a sustained income, but you will figure it out! There are all KINDS of opportunities out there that will allow you to make income on your own terms. When you are not under someone else's thumb, and YOU control your schedule, you have time to learn, time for self-improvement, time to focus on building your business and your brand. So here I am, years later, more happy, stress free and making more money than I ever did sitting at a desk being a robot, under utilized, under paid, and under appreciated.
I had people tell me rental arbitrage would never work, and I couldn't turn it into a business, yet here I am, year after year, deal after deal, making it happen. I had people say there was no way to build a network of business professionals and corporate employees to host in the short-term rentals that my clients manage, yet client after client, after client, stay in those rentals and return to those rentals month after month.
So as you can see, people are REALLY good at telling you what THEY haven't figured out how to do. Stay strong, STAY POSITIVE, be creative, learn, brush off the negativity, take advice from people who HAVE DONE WHAT YOU ARE TRYING TO DO, and above all, live your life the way YOU want to live your life! Best of luck to you and please keep me updated with your progress! :)
- Specialist · San Francisco, CA · Member since 2018 · 36 posts · 30 votes8y
@Melanie Hartmann here's a few resources, I also thought you might find helpful. I went to an AZREIA class taught by Mike Del Prete, which focused on how to comp and estimate property repairs for rehab projects. He had an excellent and thorough presentation, and is an experienced wholesaler who's done over 200 deals. Reach out to him on Twitter or YouTube. He's super nice, VERY helpful and I'm sure he'd be willing to help you get started, as well.
https://www.youtube.com/watch?v=sgOdIsC3684&featur...
- Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes8y@D'kavvin Wilson It sounds negative because 90 plus percent of wholesalers never do anything. Select few do a couple deals. You can say that’s negativity but statistically most fail, it’s also just realistic. Conversely, it’s very hard to lose money in rentals OVER time (could be many years to make money but you get the point) How many rich wholesalers do you know? I know zero. How many rich landlords do you know? Probably several. That’s not a coincidence
- Flipper/Rehabber · Baltimore, MD · Member since 2018 · 265 posts · 387 votes8y
Originally posted by @Account Closed:
@Melanie Hartmann I'm sure you realize this by now, but don't EVER let ANYONE tell you what you CAN or CANNOT do! Only YOU know what works for YOU! I had soooo many people tell me that I shouldn't leave my corporate job, because it was so secure and safe, and blah freakin blah. Look, I am not the type of person who works well in a box of any kind. I have my own ideas, my own desires, my own passions and the determination and discipline to make things happen.
One of the motivational speeches I listen to on Spotify (Fearless Motivation) said it best: "I refuse to conform to what OTHERS want for me, what others believe I should do with MY LIFE. I refuse to be a slave to the system. I refuse to believe in the impossible, because I KNOW NOTHING IS IMPOSSIBLE." And remember, most people make decisions based on fear. It is scary to not have a sustained income, but you will figure it out! There are all KINDS of opportunities out there that will allow you to make income on your own terms. When you are not under someone else's thumb, and YOU control your schedule, you have time to learn, time for self-improvement, time to focus on building your business and your brand. So here I am, years later, more happy, stress free and making more money than I ever did sitting at a desk being a robot, under utilized, under paid, and under appreciated.
I had people tell me rental arbitrage would never work, and I couldn't turn it into a business, yet here I am, year after year, deal after deal, making it happen. I had people say there was no way to build a network of business professionals and corporate employees to host in the short-term rentals that my clients manage, yet client after client, after client, stay in those rentals and return to those rentals month after month.
So as you can see, people are REALLY good at telling you what THEY haven't figured out how to do. Stay strong, STAY POSITIVE, be creative, learn, brush off the negativity, take advice from people who HAVE DONE WHAT YOU ARE TRYING TO DO, and above all, live your life the way YOU want to live your life! Best of luck to you and please keep me updated with your progress! :)
Thank you Charity! This was post was amazing. I hope you write, blog, or present in some fashion! I'm so happy to hear that you went against the grain and went after what you wanted!
Your words ring so true. I know I'm not going to sit on my @$$ and expect big things to happen. I'm learning and going hard at this. SEO, backlinks, building a website, posting content, etc. etc. etc. Two weeks ago I would have HAD NO FREAKING CLUE what you were talking about or how any of that worked. I'm learning and applying. I'm excited. Every time someone tells me this was dumb or I won't make it, honestly, it just makes me smile now in anticipation of how wrong I will be proving them. I was terrified but now I'm beyond excited.
You are so right about the job! I really couldn't understand why people want to keep doing that to MAYBE be ok when they retire. Then I realized, we are all so often told that's what we HAVE to do and most are afraid of uncertainty. I loved my field, but where I worked killed my joy and love of the profession. Yes, I could get a job elsewhere, but it's really all more of the same. Hands are tied by people dictating to us what our jobs have to be rather than what they could be. All the lovely stuff I was taught in grad school - well I don't have time to apply it in real life due to having to satisfy all the legal requirements of my job. I wasn't helping children. I was testing, determining which "box" this student fit into so they could or could not receive special education services, and writing reports (oh those awful awful reports), fighting with parents, children, and co-workers, crying in the bathroom on the regular while seeing so many others I worked with attempting to cry in secret as well. I just couldn't. I KNEW there had to be a better way to help myself and help these children. I really hope to have a charity of some sort to help these kids out in Baltimore City. I've lived here all my life and it resonates with me deeply but what I was doing wasn't helping them or me. I also don't believe in the special education laws and how we determine who receives services and who doesn't or the system in general. It's a joke! I couldn't keep pretending that it was meaningful or helpful to these kids. It was eating my soul up.
So yes, I'm greedy or self-serving in getting into real estate. I want to be rolling in the dough and have freedom of my time (eventually). However, once I get there, I will give back. There's only so much one needs and there's more than enough to go around!
- Flipper/Rehabber · Baltimore, MD · Member since 2018 · 265 posts · 387 votes8y
Originally posted by @Caleb Heimsoth:
@D'kavvin WilsonIt sounds negative because 90 plus percent of wholesalers never do anything. Select few do a couple deals.
You can say that’s negativity but statistically most fail, it’s also just realistic. Conversely, it’s very hard to lose money in rentals OVER time (could be many years to make money but you get the point)
How many rich wholesalers do you know? I know zero. How many rich landlords do you know? Probably several. That’s not a coincidence
True story. I'm fully aware of the stats. It's just the way these negative opinions were often presented and posted was useless and negative - and not from anyone who had actually done it. I am not every other person out there. For people to just assume they know me and my life and reasons for my decisions... it's ignorant. Plan and simple. I know it's risky and against all conventional advice... said that from the start. Again, I've also got a very large and secure safety net in place. SO it's really not a big deal, honestly... that's all.
- Real Estate Agent · Dallas Tx · Member since 2018 · 9 posts · 12 votes8y
Originally posted by @Caleb Heimsoth:
@D'kavvin WilsonIt sounds negative because 90 plus percent of wholesalers never do anything. Select few do a couple deals.
You can say that’s negativity but statistically most fail, it’s also just realistic. Conversely, it’s very hard to lose money in rentals OVER time (could be many years to make money but you get the point)
How many rich wholesalers do you know? I know zero. How many rich landlords do you know? Probably several. That’s not a coincidence
Anybody that is trying to do wholesaling I’m more then sure knows that it’s no easy sailing. Maybe there would be “RICH” wholesalers if people across the board did not give wholesalers a bad name and ACTUALLY HELP A WHOLESALER OUT instead of talking about... oooh 90 percent don’t make it they don’t do anything. HER CIMMENT WAS ABOUT HERE TRYING TO DO SOMETHING. And she is still getting drug down with negativity.
Don’t start with me on rental property’s I know just as many in the edge rental property owners because they just get in the game buying everything but don’t realize it’s certain areas to buy and hold and not to buy and hold. You guys are ridiculous ROBERT KIYOSAKI got y’all stuck on rent rent rent .... it don’t make sense if you don’t know what you are doing AND JUST AS MANY DONT JUST LIKE THESE SO CALLED WHOLESALERS YOU ARE SPEAKING OF.
May I should stick to the people that run bigger pockets because the members are lost in their own world.
- Rental Property Investor · Greater Chicago Area · Member since 2018 · 21 posts · 2 votes8y
Melanie,
It's inspiring that you had the courage to make that decision. I truly hope wholesaling & investing in real estate can change your life the way it has mine. I wish you the best of luck!
Mike
Originally posted by @D'kavvin Wilson:
Originally posted by @Caleb Heimsoth:
@D'kavvin WilsonIt sounds negative because 90 plus percent of wholesalers never do anything. Select few do a couple deals.
You can say that’s negativity but statistically most fail, it’s also just realistic. Conversely, it’s very hard to lose money in rentals OVER time (could be many years to make money but you get the point)
How many rich wholesalers do you know? I know zero. How many rich landlords do you know? Probably several. That’s not a coincidence
Anybody that is trying to do wholesaling I’m more then sure knows that it’s no easy sailing. Maybe there would be “RICH” wholesalers if people across the board did not give wholesalers a bad name and ACTUALLY HELP A WHOLESALER OUT instead of talking about... oooh 90 percent don’t make it they don’t do anything. HER CIMMENT WAS ABOUT HERE TRYING TO DO SOMETHING. And she is still getting drug down with negativity.
Don’t start with me on rental property’s I know just as many in the edge rental property owners because they just get in the game buying everything but don’t realize it’s certain areas to buy and hold and not to buy and hold. You guys are ridiculous ROBERT KIYOSAKI got y’all stuck on rent rent rent .... it don’t make sense if you don’t know what you are doing AND JUST AS MANY DONT JUST LIKE THESE SO CALLED WHOLESALERS YOU ARE SPEAKING OF.
May I should stick to the people that run bigger pockets because the members are lost in their own world.
You realize there's plenty terrible wholesalers out there that's where the bad rap comes from. Couple that with people locking up properties at silly prices with no way to close and no idea what they're doing... That's why they get a bad rap.
How can someone with no experience tell me an estimated rehab cost and arv when they don't even understand the numbers on either side. That's why the majority get a and rap, because many ruined it for the few that have a good system.
Heck even op said she's not confident enough with rehab numbers to risk her own money, so she rather wholesale vs flip. Not saying that's a bad business choice (it's smart for her) but further proves the point. Of course she can learn but construction has a learning curve and in this case it's passed on to the buyers, who hopefully perform their own due diligence.
Just the other day there was a post on here where a wholesaler got a "good deal" on like a six Plex, yet he was 200/unit off on rent..which is probably the easiest thing to figure out. Sure it might be a good deal for someone , but 200/mo off in rent (800 vs 600) is a problem.
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