WHOLESALING AND FUNDING FLIPS

10 Replies

@William Riley People throw around the word mentor quite a bit, without being cognizant of the fact that they need to bring something of value to the person they want to mentor them. People tend to only focus on whats in it for them instead of making sure they add value to the person they are asking to mentor them. Make sure when you approach those with the knowledge and skills you would like to have, you bring them something that will be valuable to them in return.

Originally posted by @Lydia T. :

@William Riley People throw around the word mentor quite a bit, without being cognizant of the fact that they need to bring something of value to the person they want to mentor them. People tend to only focus on whats in it for them instead of making sure they add value to the person they are asking to mentor them. Make sure when you approach those with the knowledge and skills you would like to have, you bring them something that will be valuable to them in return.

 This. People ask me to partner up & get mentored all the time. I'm more than happy to give people preliminary advice. But for a partnership or mentoring, I say what are you bringing to the table? Either it needs to be money or a really good deal. 

Originally posted by @William Riley :

I bring value to any relationship I begin due to my drive honesty and ability to complete tasks and I'm a networking powerhouse in my demographic area especially

 those are prerequisites to do business with me. That is not something extra you are providing. Like I said you need to literally bring something to the table. Either cold hard cash or a below market deal. 

Put yourself in an experienced flipper's shoes. Why should he help you or partner with you? What good does it do him? A lucrative partnership starts with aligned goals and contribution. 

Phew.  Ok man, gonna give it to you straight.  I have trained up quite a few folks in WHSE offices, and here is how it works.  No sugar coating.  

1) WHSE is a business.  It involves systems, money, and repeatable models.  It is highly location dependent, and takes money to do correctly.  

2) you need training.  You don't need a mentor, because as a newbie, you literally have nothing to bring to the table other than work ethic and time.  You need concrete skills that can translate directly into deals.  Go get them.  You can pay for them or develop them on your own.  Paying for them can be, but is not always, a way to get them faster. 

3) this forum has a lot of knowledge, but also a lot of hot air.  Like any other forum, anywhere, on earth or possibly elsewhere.  And most wholesalers are completely full of you know what.  You can usually tell how full of it they are by how loudly they claim not to be full of it.  

4) Learn how the business works.  Have realistic expectations.  Don't listen to these clowns on social media posting their checks.  They spent that check way before they ever got it.  

5) shameless plug here, but I literally give away a lot of the training that professional offices use on my YT channel.  I don't really care whether you watch it or not, I don't make money off it, but I can assure you it works.  I also watch a lot of people fail at this because they don't know what they're doing.  

6) If you really want to know about the business, I wrote it all down here: https://www.biggerpockets.com/forums/93/topics/525099-how-to-be-a-better-wholesaler-with-faqs

Wishing you all the success in the world, but it must be earned.  

@Lydia T. - nope, sorry, got nothing for sale.  The info I am trying to give comes from working with some really smart people and doing a lot of deals.  

But as i like to say here - all of your activities on BP, including reading what everyone writes, are completely voluntary.