🤣 Wholesaler hits new level of ineptitude - WOW!

[James Wise]

Those who follow my content know that I bag on wholesalers pretty hard. There is a rather robust list of reasons why I do this. But the main reasons are that they are illegal brokers who are too uneducated, clueless and deceitful to even realize it. In addition, speaking with them is generally a waste of time. 

Today my staff gets an email from one trying to get us to sell their portfolio of properties. As we are going through their "portfolio" of properties we realize one of the properties is actually mine 🤣🤯

[James Wise]

Originally posted by @David Demesyeux:

@James Wise why do you say this ? I’m trying to get into this game & wholesale seems like the only other for me , I have little to no capital .

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. 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.