If you could go back...

5 Replies

If you could go back, what is the one thing you would change or the one piece of advice you would give yourself when first starting out wholesaling?

Would love any and all feedback. Feel free to connect and talk about it if you don’t feel comfortable sharing where everyone can see!

Thank you!

Franco

The one piece of advice I would have given myself would be to vet the end buyer properly.  I ended up losing out on my first wholesale deal years ago because I did not properly research the end buyer that I was trying to work with on the deal and did not have any other end buyers at the time.  It is essential to research your buyers, but also to build a good strong list in case your first buyer does not come through.

I think too many wholesalers are focused on building the biggest buyer's list without vetting each of them. They want to email the deal to 100 or 200 people, but they don't even know who can close the deal. I would focus on making your buyer's list smaller and smaller and filling it with only investors who you know have the funds, financing, or HM to close a deal as they said they would.

I would tell myself to become an expert and marketing/branding from the beginning. Looking back I spent way too much money on "trying" different types of advertising. I.E. letters, post cards, bandit signs, etc... without proper tracking, split testing of copy, headlines, CTA's. I now know to never spend a dollar on ads that I can't track and improve the results of...