Quit My Job and Plan to Wholesale

537 Replies

Originally posted by @Robert Schumacher :
@Melanie Hartmann I never left my job to start in the real estate business but I did leave my job to start a business so I’d like to share with you about starting a business in general. I hope some of this will be helpful.

1. it was easier to leave a 6 figure income than it’s been to rs-create it. This is not a negative. It just means be prepared to GET TO WORK !!!

2. SET GOALS that will push you and don’t be okay with missing them. Follow through and complete the goal, even if it takes an extra week. If you don’t follow up to complete it, it was probably not a goal worth setting.

3. TAKE ACTION by evaluating what activities you spend your time on today and whether or not they DRIVE REVENUE. This is the sales side of the business. (I do not wholesale but I would imagine this means activities that develop meaningful relationships with other buyers that have the ability to close, and on activities that put you in front of sellers.)

4. INTEGRITY & SERVICE are still expected from your customers. Make sure your pricing is fair to you & your customers. Most customers will pay for service. Your integrity is free for your customers and both servIce & IntegrIty determine your repeat business.

5. EMPLOYEES are one of the most important tools to create a business that can be duplIcated. My 1st goal was to build enough business that supported a decision to hire. I took no income for nearly a year but with 2 people, I was able to start to build staff & income.

6. It’s very hard to run an organization without having your PROCESS in place. Build your processes so that each employee knows what’s expected, etc.

7. SURROUND yourself with smarter people that have different experIences and LISTEN. Ask good questions and don’t be afraid to go against the grain, but make sure you understand what your WHY is.

8. Starting a business is HARD WORK. I found myself waking up in the middle of the night with ideas. GET OUT OF BED & WRITE THEM DOWN. Your not likely to remember them in the AM.

Lastly ... Life is short so enjoy this experience. You may be doing this the harder way without an income, but it doesn’t mean it hasn’t been done before. Just determine if this is the type of business you want to own, or if being a passive invested is more desirable. Determine YOUR WHY !!!

Please read “The E-Myth Revisted” and remember to read weekly for knowledge. There are lots of nuggets here & I wish you well on your new adventure. 🤙🏻

Thank you Robert! I'm really excited to have left my job because I will actually have time to do ALL OF THIS! I honestly wouldn't have otherwise. And I didn't quite have a six figure income working for a school district, haha! So really, once I get things going, I won't have to do many deals (1-2 lower-end deals a month) to meet and easily exceed my previous take-home pay.

@Jay Hinrichs I've been seeing your posts for about 2 years now, and you give some of the best and real advice that I've ever seen ( It's not the typical "woo- raa " go get it advice... that's found anywhere). As someone who started in this "i want to make a ton of money wholesaling in 6 months then quit my high paying w2" mentality, I'll say everyone who "starts" In real estate should listen to you above everyone else
Originally posted by @Paul DoCampo :
@Jay Hinrichs I've been seeing your posts for about 2 years now, and you give some of the best and real advice that I've ever seen ( It's not the typical "woo- raa " go get it advice... that's found anywhere).

As someone who started in this "i want to make a ton of money wholesaling in 6 months then quit my high paying w2" mentality, I'll say everyone who "starts" In real estate should listen to you above everyone else

OK everyone I did not pay Paul to say these kind things..  But will take that as a compliment thank you  most humbly.. 

being in the trench's for 40 plus years you kind of see all these things come and go.. And I know for me what I am doing now I probably wont be doing in 5 years from now in the exact same form and function of what I do today.. I am already morphing from what I started 5 to 6 years ago.. trying to stay ahead of the herds as it were..  

@Melanie Hartmann . Relieving yourself of the comfortable 9-5 job and finding a way to let your fear push you to be creative and find ways to have money work for you is the first step to financial freedom. I plan to turn in my two weeks notice in a few days and start wholesaling as well. I hope you achieve all of your goals and will see you on the other side.
Originally posted by @Melanie Hartmann :
Originally posted by @Robert Schumacher:
@Melanie Hartmann I never left my job to start in the real estate business but I did leave my job to start a business so I’d like to share with you about starting a business in general. I hope some of this will be helpful.

1. it was easier to leave a 6 figure income than it’s been to rs-create it. This is not a negative. It just means be prepared to GET TO WORK !!!

2. SET GOALS that will push you and don’t be okay with missing them. Follow through and complete the goal, even if it takes an extra week. If you don’t follow up to complete it, it was probably not a goal worth setting.

3. TAKE ACTION by evaluating what activities you spend your time on today and whether or not they DRIVE REVENUE. This is the sales side of the business. (I do not wholesale but I would imagine this means activities that develop meaningful relationships with other buyers that have the ability to close, and on activities that put you in front of sellers.)

4. INTEGRITY & SERVICE are still expected from your customers. Make sure your pricing is fair to you & your customers. Most customers will pay for service. Your integrity is free for your customers and both servIce & IntegrIty determine your repeat business.

5. EMPLOYEES are one of the most important tools to create a business that can be duplIcated. My 1st goal was to build enough business that supported a decision to hire. I took no income for nearly a year but with 2 people, I was able to start to build staff & income.

6. It’s very hard to run an organization without having your PROCESS in place. Build your processes so that each employee knows what’s expected, etc.

7. SURROUND yourself with smarter people that have different experIences and LISTEN. Ask good questions and don’t be afraid to go against the grain, but make sure you understand what your WHY is.

8. Starting a business is HARD WORK. I found myself waking up in the middle of the night with ideas. GET OUT OF BED & WRITE THEM DOWN. Your not likely to remember them in the AM.

Lastly ... Life is short so enjoy this experience. You may be doing this the harder way without an income, but it doesn’t mean it hasn’t been done before. Just determine if this is the type of business you want to own, or if being a passive invested is more desirable. Determine YOUR WHY !!!

Please read “The E-Myth Revisted” and remember to read weekly for knowledge. There are lots of nuggets here & I wish you well on your new adventure. 🤙🏻

Thank you Robert! I'm really excited to have left my job because I will actually have time to do ALL OF THIS! I honestly wouldn't have otherwise. And I didn't quite have a six figure income working for a school district, haha! So really, once I get things going, I won't have to do many deals (1-2 lower-end deals a month) to meet and easily exceed my previous take-home pay.

 How much are we talking on a deal here, I was under the impression that wholesalers don't make that much per deal, but try to make up for it by volume?

Originally posted by @Matt K. :
Originally posted by @Melanie Hartmann:
Originally posted by @Robert Schumacher:
@Melanie Hartmann I never left my job to start in the real estate business but I did leave my job to start a business so I’d like to share with you about starting a business in general. I hope some of this will be helpful.

1. it was easier to leave a 6 figure income than it’s been to rs-create it. This is not a negative. It just means be prepared to GET TO WORK !!!

2. SET GOALS that will push you and don’t be okay with missing them. Follow through and complete the goal, even if it takes an extra week. If you don’t follow up to complete it, it was probably not a goal worth setting.

3. TAKE ACTION by evaluating what activities you spend your time on today and whether or not they DRIVE REVENUE. This is the sales side of the business. (I do not wholesale but I would imagine this means activities that develop meaningful relationships with other buyers that have the ability to close, and on activities that put you in front of sellers.)

4. INTEGRITY & SERVICE are still expected from your customers. Make sure your pricing is fair to you & your customers. Most customers will pay for service. Your integrity is free for your customers and both servIce & IntegrIty determine your repeat business.

5. EMPLOYEES are one of the most important tools to create a business that can be duplIcated. My 1st goal was to build enough business that supported a decision to hire. I took no income for nearly a year but with 2 people, I was able to start to build staff & income.

6. It’s very hard to run an organization without having your PROCESS in place. Build your processes so that each employee knows what’s expected, etc.

7. SURROUND yourself with smarter people that have different experIences and LISTEN. Ask good questions and don’t be afraid to go against the grain, but make sure you understand what your WHY is.

8. Starting a business is HARD WORK. I found myself waking up in the middle of the night with ideas. GET OUT OF BED & WRITE THEM DOWN. Your not likely to remember them in the AM.

Lastly ... Life is short so enjoy this experience. You may be doing this the harder way without an income, but it doesn’t mean it hasn’t been done before. Just determine if this is the type of business you want to own, or if being a passive invested is more desirable. Determine YOUR WHY !!!

Please read “The E-Myth Revisted” and remember to read weekly for knowledge. There are lots of nuggets here & I wish you well on your new adventure. 🤙🏻

Thank you Robert! I'm really excited to have left my job because I will actually have time to do ALL OF THIS! I honestly wouldn't have otherwise. And I didn't quite have a six figure income working for a school district, haha! So really, once I get things going, I won't have to do many deals (1-2 lower-end deals a month) to meet and easily exceed my previous take-home pay.

 How much are we talking on a deal here, I was under the impression that wholesalers don't make that much per deal, but try to make up for it by volume?

Well, I'll be honest with the salary I am leaving, because it's publicly posted information that can be easily found via a relatively quick internet search anyway. My previous salary was just under $70K a year. I was a 10-month employee. A large chunk went to a pension plan, whether I wanted it to or not, that I will now NEVER see. Another, smaller, chunk went to the union - the union was/is great but still it cost $ whether you wanted to be in the union or not. ~1/3 went to the usual W-2 taxes, etc. A small bit went to health insurance (they offer decent health benefits at least). That left my take-home pay at approximately $1900 every two weeks DURING the school year (~10-months) with nothing coming in during the summer. 

So yea, I was looking at clearing approximately $38,000 a year with health insurance for just myself and the kids? And I WAS the bread-winner, HAHA! You always focus on your "salary" but looking at that take-home number well, that's just... really... sad... Wow! For all you go through to get there and all you go through on a regular basis once you get there... You see why so many working in education have 1, 2, sometimes 3 side hustles on-top of their day job? Not to mention that that "day-job" also includes working "unpaid" mornings, evenings, nights, and weekends and through your lunch time... and all the materials YOU have to purchase in order to do YOUR job... I'm just saying... One teacher I worked with said, given JUST the hours she puts into her job, she was making about minimum wage, not to mention her own additional expenses associated with keeping said job. That's ONLY talking hours and $, nothing else that is also involved with working in education. 

My previous take-home pay will not be hard to replicate, even after paying taxes on that income (and, for the naysayers, yes, even with the marketing costs and yatta, yatta, yatta. Yes, I am fully aware that wholesaling costs money... hence, why I have the money to start wholesaling in the bank). Once things get going, if I average a conservative/typical wholesale deal 1-2x a month I'll be where I was when I left my W-2 job but much better off in almost all regards, particularly my own personal regard. I don't see what's so hard about that to be honest... but again I'm just getting started. What the heck do I know??

Originally posted by @Melanie Hartmann :
Originally posted by @Matt K.:
Originally posted by @Melanie Hartmann:
Originally posted by @Robert Schumacher:
@Melanie Hartmann I never left my job to start in the real estate business but I did leave my job to start a business so I’d like to share with you about starting a business in general. I hope some of this will be helpful.

1. it was easier to leave a 6 figure income than it’s been to rs-create it. This is not a negative. It just means be prepared to GET TO WORK !!!

2. SET GOALS that will push you and don’t be okay with missing them. Follow through and complete the goal, even if it takes an extra week. If you don’t follow up to complete it, it was probably not a goal worth setting.

3. TAKE ACTION by evaluating what activities you spend your time on today and whether or not they DRIVE REVENUE. This is the sales side of the business. (I do not wholesale but I would imagine this means activities that develop meaningful relationships with other buyers that have the ability to close, and on activities that put you in front of sellers.)

4. INTEGRITY & SERVICE are still expected from your customers. Make sure your pricing is fair to you & your customers. Most customers will pay for service. Your integrity is free for your customers and both servIce & IntegrIty determine your repeat business.

5. EMPLOYEES are one of the most important tools to create a business that can be duplIcated. My 1st goal was to build enough business that supported a decision to hire. I took no income for nearly a year but with 2 people, I was able to start to build staff & income.

6. It’s very hard to run an organization without having your PROCESS in place. Build your processes so that each employee knows what’s expected, etc.

7. SURROUND yourself with smarter people that have different experIences and LISTEN. Ask good questions and don’t be afraid to go against the grain, but make sure you understand what your WHY is.

8. Starting a business is HARD WORK. I found myself waking up in the middle of the night with ideas. GET OUT OF BED & WRITE THEM DOWN. Your not likely to remember them in the AM.

Lastly ... Life is short so enjoy this experience. You may be doing this the harder way without an income, but it doesn’t mean it hasn’t been done before. Just determine if this is the type of business you want to own, or if being a passive invested is more desirable. Determine YOUR WHY !!!

Please read “The E-Myth Revisted” and remember to read weekly for knowledge. There are lots of nuggets here & I wish you well on your new adventure. 🤙🏻

Thank you Robert! I'm really excited to have left my job because I will actually have time to do ALL OF THIS! I honestly wouldn't have otherwise. And I didn't quite have a six figure income working for a school district, haha! So really, once I get things going, I won't have to do many deals (1-2 lower-end deals a month) to meet and easily exceed my previous take-home pay.

 How much are we talking on a deal here, I was under the impression that wholesalers don't make that much per deal, but try to make up for it by volume?

Well, I'll be honest with the salary I am leaving, because it's publicly posted information that can be easily found via a relatively quick internet search anyway. My previous salary was just under $70K a year. I was a 10-month employee. A large chunk went to a pension plan, whether I wanted it to or not, that I will now NEVER see. Another, smaller, chunk went to the union - the union was/is great but still it cost $ whether you wanted to be in the union or not. ~1/3 went to the usual W-2 taxes, etc. A small bit went to health insurance (they offer decent health benefits at least). That left my take-home pay at approximately $1900 every two weeks DURING the school year (~10-months) with nothing coming in during the summer. 

So yea, I was looking at clearing approximately $38,000 a year with health insurance for just myself and the kids? And I WAS the bread-winner, HAHA! You always focus on your "salary" but looking at that take-home number well, that's just... really... sad... Wow! For all you go through to get there and all you go through on a regular basis once you get there... You see why so many working in education have 1, 2, sometimes 3 side hustles on-top of their day job? Not to mention that that "day-job" also includes working "unpaid" mornings, evenings, nights, and weekends and through your lunch time... and all the materials YOU have to purchase in order to do YOUR job... I'm just saying... One teacher I worked with said, given JUST the hours she puts into her job, she was making about minimum wage, not to mention her own additional expenses associated with keeping said job. That's ONLY talking hours and $, nothing else that is also involved with working in education. 

My previous take-home pay will not be hard to replicate, even after paying taxes on that income (and, for the naysayers, yes, even with the marketing costs and yatta, yatta, yatta. Yes, I am fully aware that wholesaling costs money... hence, why I have the money to start wholesaling in the bank). Once things get going, if I average a conservative/typical wholesale deal 1-2x a month I'll be where I was when I left my W-2 job but much better off in almost all regards, particularly my own personal regard. I don't see what's so hard about that to be honest... but again I'm just getting started. What the heck do I know??

 None of this tells us how much a "normal" wholesale deal gets or is expected per deal.... I'm not trying to be a naysayer here but 70k salary seems like quite the challenge to make up as a wholesaler. The average agent in Baltimore is making 48k according to glass door, Adjusted they're making 40k to your 70k over that 10 months... now do agents make more than wholesaler or does wholesaler make more from your research?

Congrats! Don't listen to any of the nay sayers! I did the same thing you did. I had a decent paying job, was un happy, got into wholesaling, put a few under contract and honestly before my first closing check, I quit my job. Been doing real estate ever since and haven't looked back!! Make sure your consistent with your goals and you wont ever have to worry about working a 9-5 again....

Originally posted by @Timara Marie :

Congrats! Don't listen to any of the nay sayers! I did the same thing you did. I had a decent paying job, was un happy, got into wholesaling, put a few under contract and honestly before my first closing check, I quit my job. Been doing real estate ever since and haven't looked back!! Make sure your consistent with your goals and you wont ever have to worry about working a 9-5 again....

 What was your average profit per deal on the wholesale side ?

Wow! I like your courage, Melanie. Win Big or Go Home! You can do it. There are many jobs to go back to if things don't work out. I'm sure you'll succeed once you put in more time to talk to sellers and wholesale buyers on a daily basis. It's a bit scary, but who says waking up broke every morning wasn't scary as well?

@Matt K. You can’t reason with someone AFTER they quit lol. You have to do that before they quit. @Melanie Hartmann . That’s pretty good salary if you’re a teacher? Better then any of my teachers ever made. I wish you luck but wholesaling is really the hardest part of real estate in my opinion
Originally posted by @Caleb Heimsoth :
@Matt K.

You can’t reason with someone AFTER they quit lol. You have to do that before they quit.

@Melanie Hartmann. That’s pretty good salary if you’re a teacher? Better then any of my teachers ever made. I wish you luck but wholesaling is really the hardest part of real estate in my opinion

 I just want to know what a typical deal makes in wholesale world...

Originally posted by @Matt K. :
Originally posted by @Caleb Heimsoth:
@Matt K.

You can’t reason with someone AFTER they quit lol. You have to do that before they quit.

@Melanie Hartmann. That’s pretty good salary if you’re a teacher? Better then any of my teachers ever made. I wish you luck but wholesaling is really the hardest part of real estate in my opinion

 I just want to know what a typical deal makes in wholesale world...

Best case scenario is likely 5k on average which means to replace 70k you’d need to do 14 per year.  But obviously wholesaling takes money.  

I met a local flipper last week who spends 4K on marketing per month to get 2 deals (optimistically he actually said 1-2) per month.  So if you spend 4K on marketing and make 5k per deal, to NET 70k you’d meed 118k per year in wholesale deals which is approximately 24 per year. 

Originally posted by @Caleb Heimsoth :
Originally posted by @Matt K.:
Originally posted by @Caleb Heimsoth:
@Matt K.

You can’t reason with someone AFTER they quit lol. You have to do that before they quit.

@Melanie Hartmann. That’s pretty good salary if you’re a teacher? Better then any of my teachers ever made. I wish you luck but wholesaling is really the hardest part of real estate in my opinion

 I just want to know what a typical deal makes in wholesale world...

Best case scenario is likely 5k on average which means to replace 70k you’d need to do 14 per year.  But obviously wholesaling takes money.  

I met a local flipper last week who spends 4K on marketing per month to get 2 deals (optimistically he actually said 1-2) per month.  So if you spend 4K on marketing and make 5k per deal, to NET 70k you’d meed 118k per year in wholesale deals which is approximately 24 per year. 

As mentioned in an earlier post my take home pay (aka. NET) last school year was about $38K. Take that and subtract materials, training, insurance, and other fees. I'm looking at closer to $35-36K a year (TRUE NET), so not anywhere close to bringing home $70K. I am currently a nationally certified school psychologist. It can be done, has been done, and will be done again (by me).

@Melanie Hartmann Hey girl. I’m proud of you taking a leap of faith. No one knows your drive or dedication like YOU do, and who knows - this decision may prove to be one of the biggest in your life! I remember when I told myself I would never clock in again. The work from then on is just that - WORK. So, do like Rihanna ; ”work, work, work, work, work” and “LIVE YA LIFE”! Peace, blessings, and the best of luck to you.
Originally posted by @Melanie Hartmann :
Originally posted by @Caleb Heimsoth:
Originally posted by @Matt K.:
Originally posted by @Caleb Heimsoth:
@Matt K.

You can’t reason with someone AFTER they quit lol. You have to do that before they quit.

@Melanie Hartmann. That’s pretty good salary if you’re a teacher? Better then any of my teachers ever made. I wish you luck but wholesaling is really the hardest part of real estate in my opinion

 I just want to know what a typical deal makes in wholesale world...

Best case scenario is likely 5k on average which means to replace 70k you’d need to do 14 per year.  But obviously wholesaling takes money.  

I met a local flipper last week who spends 4K on marketing per month to get 2 deals (optimistically he actually said 1-2) per month.  So if you spend 4K on marketing and make 5k per deal, to NET 70k you’d meed 118k per year in wholesale deals which is approximately 24 per year. 

As mentioned in an earlier post my take home pay (aka. NET) last school year was about $38K. Take that and subtract materials, training, insurance, and other fees. I'm looking at closer to $35-36K a year (TRUE NET), so not anywhere close to bringing home $70K. I am currently a nationally certified school psychologist. It can be done, has been done, and will be done again (by me).

I get that you’re focusing on net and that’s fine but you will still pay taxes on your wholesale income.  It’ll be considered self employment income which means you’ll pay the same state taxes, federal taxes as before plus all of the FICA taxes that you normally split with your employer.

Add in the same health insurance costs or more if your employer paid for some of it and the money you’ll likely spend on marketing and you realize you’ll need to gross a lot more then 70k to hit the same net as you did prior, all while working much much harder.

Btw 70k gross salary for 10 months of the year is equivalent to 84k a year gross, so you reallt should be aiming for that number with wholesaling.

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

You can’t reason with someone AFTER they quit lol. You have to do that before they quit.

@Melanie Hartmann. That’s pretty good salary if you’re a teacher? Better then any of my teachers ever made. I wish you luck but wholesaling is really the hardest part of real estate in my opinion

 I just want to know what a typical deal makes in wholesale world...

Best case scenario is likely 5k on average which means to replace 70k you’d need to do 14 per year.  But obviously wholesaling takes money.  

I met a local flipper last week who spends 4K on marketing per month to get 2 deals (optimistically he actually said 1-2) per month.  So if you spend 4K on marketing and make 5k per deal, to NET 70k you’d meed 118k per year in wholesale deals which is approximately 24 per year. 

As mentioned in an earlier post my take home pay (aka. NET) last school year was about $38K. Take that and subtract materials, training, insurance, and other fees. I'm looking at closer to $35-36K a year (TRUE NET), so not anywhere close to bringing home $70K. I am currently a nationally certified school psychologist. It can be done, has been done, and will be done again (by me).

I get that you’re focusing on net and that’s fine but you will still pay taxes on your wholesale income.  It’ll be considered self employment income which means you’ll pay the same state taxes, federal taxes as before plus all of the FICA taxes that you normally split with your employer.

Add in the same health insurance costs or more if your employer paid for some of it and the money you’ll likely spend on marketing and you realize you’ll need to gross a lot more then 70k to hit the same net as you did prior, all while working much much harder.

Btw 70k gross salary for 10 months of the year is equivalent to 84k a year gross, so you reallt should be aiming for that number with wholesaling.

Thank you for your input.

Originally posted by @Leah Crocitta :
@Melanie Hartmann Hey girl. I’m proud of you taking a leap of faith. No one knows your drive or dedication like YOU do, and who knows - this decision may prove to be one of the biggest in your life! I remember when I told myself I would never clock in again. The work from then on is just that - WORK. So, do like Rihanna ; ”work, work, work, work, work” and “LIVE YA LIFE”! Peace, blessings, and the best of luck to you.

You best believe it! I'm no stranger to that! Thank you for your encouragement!

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

You can’t reason with someone AFTER they quit lol. You have to do that before they quit.

@Melanie Hartmann. That’s pretty good salary if you’re a teacher? Better then any of my teachers ever made. I wish you luck but wholesaling is really the hardest part of real estate in my opinion

 I just want to know what a typical deal makes in wholesale world...

Best case scenario is likely 5k on average which means to replace 70k you’d need to do 14 per year.  But obviously wholesaling takes money.  

I met a local flipper last week who spends 4K on marketing per month to get 2 deals (optimistically he actually said 1-2) per month.  So if you spend 4K on marketing and make 5k per deal, to NET 70k you’d meed 118k per year in wholesale deals which is approximately 24 per year. 

As mentioned in an earlier post my take home pay (aka. NET) last school year was about $38K. Take that and subtract materials, training, insurance, and other fees. I'm looking at closer to $35-36K a year (TRUE NET), so not anywhere close to bringing home $70K. I am currently a nationally certified school psychologist. It can be done, has been done, and will be done again (by me).

 Let's just keep this simple, from your research what's the avg amount you expect to make per deal and how many deals do you plan to make per month?

And again, why wholesale vs something else like flip or even realtor if you want job change...

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

You can’t reason with someone AFTER they quit lol. You have to do that before they quit.

@Melanie Hartmann. That’s pretty good salary if you’re a teacher? Better then any of my teachers ever made. I wish you luck but wholesaling is really the hardest part of real estate in my opinion

 I just want to know what a typical deal makes in wholesale world...

Best case scenario is likely 5k on average which means to replace 70k you’d need to do 14 per year.  But obviously wholesaling takes money.  

I met a local flipper last week who spends 4K on marketing per month to get 2 deals (optimistically he actually said 1-2) per month.  So if you spend 4K on marketing and make 5k per deal, to NET 70k you’d meed 118k per year in wholesale deals which is approximately 24 per year. 

As mentioned in an earlier post my take home pay (aka. NET) last school year was about $38K. Take that and subtract materials, training, insurance, and other fees. I'm looking at closer to $35-36K a year (TRUE NET), so not anywhere close to bringing home $70K. I am currently a nationally certified school psychologist. It can be done, has been done, and will be done again (by me).

 Let's just keep this simple, from your research what's the avg amount you expect to make per deal and how many deals do you plan to make per month?

And again, why wholesale vs something else like flip or even realtor if you want job change...

$3500 would be on the lower end of average with $5000 being more typical. With the possibility of more occasionally. Ideally, once I have gotten things going, if I can do 1-2 a month while I learn the ropes, that will be enough for me. I will shoot for more of course but I really don't need, nor expect, to "get rich quick" from this.

Wholesaling for a few reasons 1) I want to build capital more quickly (yes, I know what naysayers will say about this - I really cannot explain in a post where I'm coming from on this so I'll stop trying). 2) I primarily want freedom to work for myself. 3) Deals I had access to going the "traditional" routes for the last 8 months have gotten me nowhere fast, i.e. wholesaling will give me access to deals that would be beneficial to me in building and branching out my own RE portfolio of either fix-n-flips but I am primarily/ultimately interested in obtaining rentals. In my local market everything has skyrocketed in price for investors recently. I'm also not interested in working solely as a real estate agent and we are moving out of state soon (unsure when), so why bother becoming licensed in such a case when it's completely unnecessary and ultimately useless due to the pending move? 4) I've talked to others who have gone this route and it's worked for them, so why not give it a try. 

There are other reasons, but those are probably at the top of the list.

BP has several posts/articles as to the pros and cons of wholesaling. If you are interested in learning more, it's a good place to start.

Originally posted by @Caleb Heimsoth :
Originally posted by @Matt K.:
Originally posted by @Caleb Heimsoth:
@Matt K.

You can’t reason with someone AFTER they quit lol. You have to do that before they quit.

@Melanie Hartmann. That’s pretty good salary if you’re a teacher? Better then any of my teachers ever made. I wish you luck but wholesaling is really the hardest part of real estate in my opinion

 I just want to know what a typical deal makes in wholesale world...

Best case scenario is likely 5k on average which means to replace 70k you’d need to do 14 per year.  But obviously wholesaling takes money.  

I met a local flipper last week who spends 4K on marketing per month to get 2 deals (optimistically he actually said 1-2) per month.  So if you spend 4K on marketing and make 5k per deal, to NET 70k you’d meed 118k per year in wholesale deals which is approximately 24 per year. 

 Best case is $5K? Lol, I don't even touch a property for that amount anymore. With as hot as the market is, $10-15-20K is normal in the midwest. Your friend needs help. $4K in marketing should be bring in more than 1-2 deals too. 

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