Is Wholesaling a good business?

Question

I would like to start wholesaling properties in the next months.

I am a newbie and I would like to know what is your opinion. Is it a good time to start wholesaling in a recession?

If yes what are your tips to get started?

Partner with someone?

Anthony Dadlani · Answer

@Anamaria Ivan

Wholesaling is a great strategy. Read as much as you can on the topic.  Start creating a buyers list as you search for deals.  Most start out with assignment of contract to their end buyers , however as you progress it is better to buy and then sell rather.  If you don’t have the capital to do that , bring in a money partner.

Best of luck in all your endeavors.

Corby Goade · Answer

Sure, but it's no walk in the park. There is TONS of competition out there and it will take lots of phone calls and relationship building to get some momentum. It's really a numbers game- you can make good money, but you'll earn every penny.

Anamaria Ivan · Answer

Thank you @Lydia T.! you are right. It s just the fear of starting and maybe not being taken seriously. :)

Anamaria Ivan · Answer

@Marcus Maloney

Thank you, Marcus. Wise words, it is about how you can persevere and keep going against all

Odds.

Lydia R. · Answer

@Anamaria Ivan Everyone here started out exactly where you are right now! And we figured it out. You can definitely do it! Feel free to message me if you ever have any questions. Getting started is the hardest part.

Marcus Maloney · Answer

@Anamaria Ivan you said something very key “you have to add a lot of value to the customer” this phrase is what most newbie wholesalers fail to understand. They are mostly focused on what they ca get versus what they can give. Don’t get to concerned with competition, most will not have the tenacity and perseverance to commit to the end. I started nearly a decade ago and we were coming out of the recession and there were tons of wholesalers but once the reality set in of how difficult it is the majority of them quit. Keep your customer service perspective and you’ll accomplish.

Lydia R. · Answer

@Anamaria Ivan Its always a good time for wholesaling! Finding discounted real estate and assigning it to the guys and gals who are going to take on all the risk. There will always be distressed sellers and there will always be cash buyers looking for opportunities.

Lydia R. · Answer

@Anamaria Ivan You just have to decide to start and then get started. Its not as hard as you think! Feel free to reach out any time if you have questions!

Anamaria Ivan · Answer

Thank you @Corby Goade. I agree, there are lots of wholesalers and have to bring a lot of value to the customer.

Anamaria Ivan · Answer

Thanks so much for the reply! I am reading ad much as I can on the topic :)

Is Wholesaling a good business?

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