Quit My Job and Plan to Wholesale

537 Replies

@Melanie Hartmann I think it is great that you are willing to jump at opportunity. You sem to be at an opportune point in life/career and are not blindly jumping in. So long as you are willing to accept the risk/consequences of it not working out, go for it.
Originally posted by @Michael Conrad :
All these negative people here are mad because they don’t have the balls to quit there job and go all in like this lady here,!

 While no doubt there's some negative here, some people may ask a difficult question to hear a differnt point of view. I can only speak for myself, but I can assure you I'm not negative, rather I'm curious to hear her story/reasoning. I'll also be the first to state if she wants to leave it at "it's my choice" or similar, that's fine by me.... but I figure this website is more than some cheerleaders it's a place to have in depth discussion.... 

Originally posted by @Matt K. :
Originally posted by @Michael Conrad:
All these negative people here are mad because they don’t have the balls to quit there job and go all in like this lady here,!

 While no doubt there's some negative here, some people may ask a difficult question to hear a differnt point of view. I can only speak for myself, but I can assure you I'm not negative, rather I'm curious to hear her story/reasoning. I'll also be the first to state if she wants to leave it at "it's my choice" or similar, that's fine by me.... but I figure this website is more than some cheerleaders it's a place to have in depth discussion.... 

Understood! I am in the process of also writing a blog - figured it'd be a better place to write out the thoughts, reasons, and my experiences during this process. 

However, I'd honestly rather have an actual conversation about it rather than trying to do so on this post. Seems like a lot of people are ready to poke holes or criticize without actually knowing the whole story - I get that. It's just become tiresome trying to explain it in general and it's not a good use of my time atm.

OK we are 450 posts into this.

I think I speak for many here... it's time go out and get a rowhouse under contract for $15k and flip it to somebody for a $2k assignment fee.

No blogs, business cards, LLCs, direct mail, SEO... it's time.

Originally posted by @Jay Hinrichs :
Originally posted by @Jerryll Noorden:
Originally posted by @Matt K.:
Originally posted by @Jay Hinrichs:
Originally posted by @Melanie Hartmann:
Originally posted by @Jeremy Baxter:

I haven't read through all 400+ replies, but I have a question. If @Melanie Hartmann had posted all the same details originally but said "realtor" instead of "wholesaler", would she be getting the same amount of negative responses? Just curious.

Melanie, I think it's awesome that you're doing this.

Never thought about that but Jeremy, given that so many have asked why I didn't choose to become a realtor or told me that's what I should have done instead I would have initially said no. Though in actuality, I believe I would still have gotten the same amount of negative responses. Change and uncertainty is scary - so why leave something "solid" for something "liquid" that could easily slip through your fingers?

Now I can't be sure, but it seems like only one person who actually was a wholesaler told me it didn't work for them and they had to do something else and just cautioned me. Everyone else it seems who questioned it haven't done it. I've had many more people who have said they did the same or similar and it's working out for them... so... yea, I'm going to keep doing it until it's impossible for me to do it anymore.

Man, being a realtor - that's also not for me. At all. I would get my license but not be a realtor. I don't care to go into the reasons as they really don't matter to anyone but me. Haha, but being a realtor to me is almost as bad as being a teacher. I will wholesale instead of being a realtor and was a school psychologist instead of a teacher. Yup, that's me. :) 

I don't get it why you think being a realtor is different than a wholesaler.. its the exact same thing. your brining two parties together for expectation of compensation.. One is in an industry the other is on an island.. one has huge market potential the other has only distressed or deeply discounted properties to go after.. both have huge burn out rates.. I have owned 3 brokerages over the years and my dad had a real estate company .. so been around this stuff all my life.. 50% of agents never make it a year.. and based on the post on BP I see I would say 9 out of 10 that say they are going to wholesale to make money so they can buy and hold and retire in 10 years on passive income.. well that is verbatim virtually everyone.. very few make it.. there are only so many Jerrylls out there.

I work in the industry and see the huds.. the successful wholesaler and by that I mean making 300 to 500k a year are far and few between but those that do .. have pretty big companies.. vertically integrated.. I see the lone wolf wholesaler being more like a used car salesmen buying cars at auction then reselling them.. and that can be a great business.. 

Anyway just was a little amused at your thought of a realtor and a wholesaler being distinctly different when in fact they are exactly a like only the wholesaler has a much smaller amount of inventory to work with.

 Glad to see I wasn't totally off base on my thought process...

I took the simplified view and see wholesaler/realtor at opposite ends of the same spectrum. Wholesaler trying to get things as cheap as possible so they mark it up and get a bigger cut whereas realtor sells it as high as possible to get their cut... Both trying to get someone to sell a home... and "solve the problem" of completing the sale.

hey Matt, check this scenario out

Take my team as an example.

I am said wholesaler right? And guess what my agent does. When she gets a potential lead, she convinces the seller (when it is feasible) to NOT list it with her and sell it to me.. the cash buyer.

3 guesses why.

If said house is a dump (ideal for a cash buy).. or even a not such dump, after we flip the house guess who will get the listing of a freshly brand new renovated home 3x the value  it would be listed for if they had listed it with her.

So she makes a LOT more commission by working with.. yup a (smart) wholesaler.

No no.. agents and wholesalers don't have to be on the opposite ends. Don't put strategies and jobs on the spectrum... ... it is people and their stupid ignorant and lack of creative thinking that should be placed on the spectrum.

The art of wholesaling is a strategy as is the art of being an agent. These strategies do not oppose each other. It is a stupid selfish impatient wholesaler and an agent without vision that are on the opposite ends.

What do you think..

what you describe is why so many get on BP and say agents are scum bags..  that is a total violation of licensure laws..  and ethics.

there is a broker here in Oregon going to get in a lot of hot water for this right now.. depends on how your state views the marketing of a property you don't own.. when your not licensed.. which in our state is a clear violation and you will get a fine and a cease and desist.. and a broker who is aiding and abeting could easily lose their license..

 no, I actually was talking about flipping.. not wholesaling. I have no idea why I thought this was about flipping. Matt is right.. That is flipping...

@ Melanie 

@Melanie Hartmann "Whatever the mind of man can conceive and believe, it can achieve." "The starting point of all achievement is desire." "Every adversity, every failure, and every heartache, carries with it the Seed of an equivalent or greater Benefit." Nepoleon Hill.

Some of my favorite Quotes from Napoleon Hill. What you've displayed is absolute courage and determination. You've already succeeded. Albert Einstein also quoted that time is an illusion. 

Stay the course, take relentless and continuous actions. You've achieved your goal already. I'm sure it happened for other more seasoned investor on the site. They made a choice, took continuous action until they achieve their desired result. 

At the end of the day, no one can determine what's best for you but you.

@Melanie Hartmann I'd just like to offer some encouragement. Only you will know the level of effort you put into this each day. Take it day by day and get better each day. Cut the noise and charge. If you haven't already take a look at these books....

1) the four spiritual laws of prosperity by edwin gaines

2) rhinoceros success by scott alexander 

3) the go giver by bob burg 

How can you fail if you never give up?  

Originally posted by @John Asare :

@Melanie Hartmann I'd just like to offer some encouragement. Only you will know the level of effort you put into this each day. Take it day by day and get better each day. Cut the noise and charge. If you haven't already take a look at these books....

1) the four spiritual laws of prosperity by edwin gaines

2) rhinoceros success by scott alexander 

3) the go giver by bob burg 

How can you fail if you never give up?  

 Thank you John for your words of encouragement John! And the recommended books! I'll be adding them to my list. :)

Small victories! No closed deals yet but here's an update: Today the following has happened 

1. I'm showing a buyer a property tomorrow for a (small) JV deal

2. Got my FIRST ORGANIC property lead to one of my Carrot websites and chatted with him briefly today. I will be calling him back tomorrow. It's in Salisbury.

Tomorrow also just so happens to be my birthday. I honestly think this will be the best birthday I've had in years!

Originally posted by @Melanie Hartmann :

Small victories! No closed deals yet but here's an update: Today the following has happened 

1. I'm showing a buyer a property tomorrow for a (small) JV deal

2. Got my FIRST ORGANIC property lead to one of my Carrot websites and chatted with him briefly today. I will be calling him back tomorrow. It's in Salisbury.

Tomorrow also just so happens to be my birthday. I honestly think this will be the best birthday I've had in years!

 Settle down here, you're almost sounding like those terrible realtors... 

@Melanie Hartmann , how is your progress so far? Are you marketing with direct mail or PPC at all? I went on your site and saw the service you were using (IC if I'm correct) and am thinking of starting a site with them as well, but was curious to hear how it was going from someone already doing it!

Originally posted by Account Closed:

@Melanie Hartmann, how is your progress so far? Are you marketing with direct mail or PPC at all? I went on your site and saw the service you were using (IC if I'm correct) and am thinking of starting a site with them as well, but was curious to hear how it was going from someone already doing it!

Hey Joseph! I highly recommend IC! Amazing stuff! I have done minimal direct mail and no PPC just yet. Have done some other online marketing though. I'm looking into really getting the SEO on my sites to a better spot this week and then MAY look into PPC. Direct Mail... isn't very appealing to me at this time unless it's for a specific targeted group of folks that everyone and there mother isn't already mailing marketing pieces to. 

Originally posted by @Matt K. :

So, any deals? 

One in the works so far. Mind you I have NOT been pounding the direct marketing side of things yet. As what I had been doing was just a waste of my time and so I'm shifting gears more towards SEOing the heck out of my sites so that I can get that steady stream of leads coming in a few months from now. It's very very very time-consuming. I would be completely lost without Carrot though. @Jerryll Noorden - thank you again for turning me on to them! I've heard of them before but it's been immensely helpful!

Originally posted by @Melanie Hartmann :
Originally posted by @Matt K.:

So, any deals? 

One in the works so far. Mind you I have NOT been pounding the direct marketing side of things yet. As what I had been doing was just a waste of my time and so I'm shifting gears more towards SEOing the heck out of my sites so that I can get that steady stream of leads coming in a few months from now. It's very very very time-consuming. I would be completely lost without Carrot though. @Jerryll Noorden - thank you again for turning me on to them! I've heard of them before but it's been immensely helpful!

 You are welcome bubbles! You owe me a shirley Temple

Originally posted by @Melanie Hartmann :
Originally posted by @Matt K.:

So, any deals? 

One in the works so far. Mind you I have NOT been pounding the direct marketing side of things yet. As what I had been doing was just a waste of my time and so I'm shifting gears more towards SEOing the heck out of my sites so that I can get that steady stream of leads coming in a few months from now. It's very very very time-consuming. I would be completely lost without Carrot though. @Jerryll Noorden - thank you again for turning me on to them! I've heard of them before but it's been immensely helpful!

You’re a couple months in now.  How’s it going ?

For a little update: I count it from the day I officially made my carrot site. So we're looking at just 7 weeks in. Things are moving along swimmingly. They were stalled a bit the first 4-6 weeks. However, I've finally gotten that wholesaling beast by the horns and have been wrestling it to the ground starting this past week. Once he's on the ground and down for the count, I'll post my first check. :) 

Keep on keeping on! 

Originally posted by @Jonathan Soto :

That was a bold move. I love the dedication of going all in. How has it been thus far? What is Carrot, I see you mentioned it?

Best of luck.

Thanks Jonathan! Below is copy/paste from google

InvestorCarrot

https://oncarrot.com/

Carrot Real Estate Investor Websites and real estate agent websites help grow your leads. See how Carrot members generate 40000+ leads per month...

@Melanie Hartmann love that! I quit my job after a year of wholesaling, but I had to wait until it replaced my income since I'm the only person in the household. You're gutsier! Go get it! When you're new and cash isn't unlimited I would definitely suggest TARGETING exactly the property you can make money off of! 

Good luck!

Originally posted by @Elliott Elkhoury :

@Melanie Hartmann love that! I quit my job after a year of wholesaling, but I had to wait until it replaced my income since I'm the only person in the household. You're gutsier! Go get it! When you're new and cash isn't unlimited I would definitely suggest TARGETING exactly the property you can make money off of! 

Good luck!

Thank you Elliott! I would recommend the route you took to most anyone. Get your processes and things down before jumping in all the way. This journey so far has been simultaneously trying, exciting, and empowering. I feel like a much more confident and happier person than I was even just 2 months ago when I decided I deserved more out of life. It's been life-changing in ways I can't even begin to explain here on this post. Truly!

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