Where can I find a mentor for wholesaling?

Question

Hello my name is Donte! I’ve been interested in starting in real estate business and thought wholesale would be a great idea. I’d like to find a mentor or anyone that could give any advice on how to start and do the process. I live in Cleveland, Ohio and would like someone who has experience in my general location... or not any and all advice helps and I’m open to it. Thank you in advance!

Account Closed · Answer

If this is really @James Wise you are so foul for the above comment.  You be-little the wholesaling business like its rubbish and then go around the wholesaler's back!  Now that's some next-level disrespect.  Everything else I can slightly agree on but you just opened my eyes to the type of person you are.  Thanks for exposing your true colors.

James Wise · Answer

Welcome aboard Donte. Wholesaling as it's taught is a myth. You need a license to Broker real estate. That's all wholesaling is as it's taught in these programs, it's brokering real estate except instead of being up front & telling the distressed seller that you'll sell their property for X amount & take X amount as your commission / fee you are taught to lie to the seller & pretend you are going to buy the property while you secretly attempt to "assign" your contract.It doesn't work. Nobody has any respect for wholesalers. Whenever a wholesaler contacts me I simply get the information about the property & reach out to the owner myself cutting the wholesaler out of the deal entirely. If you do business above board as a licensed agent that won't happen to you. The only people making money wholesaling are the guys selling you all of that education.

To be successful connecting buyers and sellers you need to have

• An in depth knowledge of the market.
• Marketing skills.
• Sales skills.
• Negotiation skills.
• Accurately estimate rehab costs.
• Understand how to much time it would cost to run a renovation on the properties you are presenting.

My advice get a real estate license. Way cheaper, no legal issues, more respect and there is a decent chunk of cheap or free training out there from the mega brokerages. Soak it all in while you're trying to get off the ground. It's not an easy job, 90% fail rate but it's better than the 99.9% "wholesaler" fail rate.

Account Closed · Answer

Agree to bring quality leads to the table and allow the experienced wholesaler a 50/50 split. They will be glad to help you.

James Wise · Answer

Belittling what I describe above (illegal brokering) would be the same as belittling a criminal organization. That offends you this much?

Where can I find a mentor for wholesaling?

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