how much $

Question

For a wholesalers first year of wholesaling what do you think the average that year that he/she makes?

J Scott · Answer

I'm guessing 99% of new wholesalers make $0 the first year.  That's because 99% decide they are ready to wholesale but never actually do a transaction...

I would think that anyone who is serious about the business, isn't scared to take action and who devotes the time should be able to do 5-10 deals in their first year.  If they can make an average of $3-5K per deal, there's no reason they can't make $30K their first year.

Of course, the top 5% of the 1% who actually take action can probably make six figures their first year without too much trouble.

Justin S. · Answer

I was going to say $0.00 as well (or even lose money).  Your first year should be dedicated to building systems, teams, and educating yourself, not counting money.  Once you have solid foundation, the money will come.

Manny Cirino · Answer

If you go in to this thinking get rich quick then, thinking you will be closing deals from a beach in hawaii then your bubble is about to pop hard! Wholesaling is real work! Its a job like any other but you know what they say,"if you work doing what you love you will never work a day in your life." So you have to love this business and have real dedication. But I will save If you want real success then you should be seeing wholesaling a gate way to the investment world. Start making connections with HM lender general contractors etc... Start thinking about the future.

Richard Gleason · Answer

Tyler,

Both responses were accurate, but to take a step back.  
I think you have to decide what exactly you're looking to wholesale ...
-how much capital you have to invest.
-What areas are you looking to invest in.
-Do you have a list of buyers, an attorney to work with (preferable who is investor/wholesaler friendly)
-Do you know the area?

Needless to say there are a lot of factors that go into your bottom line, but if you do want to set a goal (which every business owner should) 6 deals in your first year 3k per deal is not a bad one to start.

If I had to give a number, I would agree with J's example of 3-5k per deal and about shooting for 5-10 in your first year. With that said I believe the  most important thing is developing relationships and having a good team.  The money is there, people will always be looking to buy sell, buy and hold and people have money.

I wouldn't say $0 because I made money my first year and a lot of it, (keep in mind times were different, and I was in the industry).  Bottom line, the key is YOU....

You have to put the time in, learn as much as possible. (You will get both good and bad advice, and some of the good advice might not work for you)

You NEED a good team. This will help you out tremendously!!!

You NEED realistic goals.  Something to keep you on track, but not overwhelm you... possibly get a mentor maybe a few !!

Rich

You

Mitch Stephen · Answer

If I assume you are a "Doer"...I'm thinking $20,000 to $40,000.

--Mitch Stephen--

Jerry Puckett · Answer

See there Tyler? It always comes back to careful thought, planning, and RELATIONSHIPS. We have all been saying the same thing.....time to listen.

how much $

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