I realized I’m not scared of rejection but rather getting a deal

19 Replies

So two weeks ago I bought about 250 leads for potential motivated sellers so far I’m on lead number 93. I’m not even half way through my list and i realized it’s not that i fear rejection over the phone, I fear the moment when I actually get my deal through and someone is willing to trust me with their property. Like a dog chasing a firetruck I wouldn’t know what to do once I caught it. I believe I have the knowledge to pull this through but somehow I am left unwilling to make those phone calls. I am motivated but somehow the anxiety beats me. I go days without making a single call. How can I change? I’m tired of getting to a certain level and then abandoning whatever I’m chasing. Experienced wholesalers what motivates you! And how can I become a more worthy competitor

This post has been removed.

@Cirilo Villar Isuggest you learn your market better. When you are confident in the true as is value, you will be more confident when it comes time to pull the trigger.

To do that look at lots of properties, other wholesalers deals, other investors deals open houses, on site public auctions etc. The better you know your market, the more confident you will be. 

@Cirilo Villar you’re scared because getting a deal is new to you.  You’re leaving your comfort zone into something completely uncharted to you.  It’s kind of like being a child about to jump into a pool for the first time without a life jacket.  You’re standing there at the edge looking down thinking about everything that could go wrong when you jump.  You’re first deal won’t be easy, but as soon as you get it done, you’ll be craving the next one. 

@Cirilo Villar yeah bro.  There is no progress without struggle.  Keep pushing.  If you haven’t already, join your local real estate investor association.  You may be able to find yourself a solid mentor willing to partner with you on a deal. 

@Cirilo Villar not on the wholesale end.  I’m an agent, but I do a ton of cold calls trying to get listings/find buyers for my listings.  I’m using agency to build capital so that I can start my wholesale company.  

You need to build a solid buyers list and or have cash ready to close using your own funds or private money.

If you start with the exit you will have the confidence to keep going.

Also the script makes a huge difference when cold calling.

Originally posted by @Greg Dickerson :

You need to build a solid buyers list and or have cash ready to close using your own funds or private money.

If you start with the exit you will have the confidence to keep going.

Also the script makes a huge difference when cold calling.

How can I build buyers list when I haven't gotten a deal yet? I dont want to establish a relationship and not come through with a deal that would be unprofessional. Also, why would I need cash for anything besides the earnest money deposit? thanks again I agree with you on coming up with an exit strategy 

 

Best thing to do is surround yourself with like-minded people and build a team of contacts who can help you with different parts of the business. Visit your local REI clubs and meet people. Most all are willing to help others by sharing their knowledge, and you can meet plenty of buyers. There is usually at least one free non-member visit, or even monthly open meetings. They typically have vendor booths of companies offering services for RE investors (hard money, construction, listing agents, list providers, etc). When I moved to Houston, I joined the largest club in town and on my first deal used a Realtor to help with the purchase of a short sale, used a construction company on the club vendor list to do the rehab, used a hard money lender to fund the purchase and rehab, and the same Realtor to list for sale... all people I met at that club. BP has a list of clubs in your area (link below).

https://www.biggerpockets.com/rei/california-real-estate-investment-clubs/

@Cirilo Villar That is super normal. Just remember that you are one phone call away from potentailly getting a deal. You are just one call away from understanding what needs to be done during the call so you can hire it out. Just keep pushing through so when you do scale, you know exactly whats expected 

@Cirilo Villar  If you plan on wholesaling you need to make sure you know who the buyer is going to be and what they are looking for. Your not making a promise to anyone and not delivering you are networking and learning what they are looking for. You don’t want to waste time and money marketing for properties then find out you have no buyers because of the wrong area or type of property.

I mentioned having cash ready if you are going to buy and flip and not wholesale.


You want professional legitimate cash buyers so you know you can close on the deal and do what you tell the seller you will do. I can’t emphasize this point enough. You do not want to contract a property unless you know you can close it or take it down yourself.

Different types of cash buyers are flippers, buy and hold, subject to and lease option. You need to find several of each of these types of buyers and learn what they are looking for. You will learn a lot about the business and the market talking with cash buyers.

Best way to find cash buyers is networking at local REI meetups, masterminds, Facebook groups, Realtors, title companies, closing attorneys, property management companies, auctions, Craigslist, and bandit signs.

You can search real estate transactions in your tax database. Look for entities and individuals that have bought multiple properties. You may need to search by the address of the buyer as they may change their name or the name of the entity on each purchase. You can also buy lists from companies like list source and there are some REI software companies that have a cash buyer search feature.

@Cirilo Villar

Fear of success is just like fear of failure!

If you feel that you can succeed if you follow your plan, but you are procrastinating, I suggest working under someone like a different whole seller, and you job is to get deals, I bet you will start making deals happen because there is a boss on top of you that expects results, then after a few deals you can go and do it on your own, since you did it a few times

(This is what I would have done in this situation) good luck.

@Greg Dickerson

Greg you have provided something worth more than gold here ! I see the bigger picture now! And yes I am going to an REI convention this Saturday but now I know what kind of connections I will try to make there! Thank you so much very insightful I appreciate it

Originally posted by @Cirilo Villar :

@Meir Greenblatt

I think that would work honestly but where would I find a wholesaling company who hires people with no experience:(

I not sure how, but I would recommend asking in the next real estate investor meeting.

Also check out show 81 & 77, they are my favorite wholesaling shows. 

https://open.spotify.com/episo...

https://open.spotify.com/episo...

 

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here