Wholesale business structure.

[Ethan Garrett]

Hello everyone, 👋🏻

Do some background I’m a 19 year old college kid studying finance, and I’m exploring the idea of starting my own wholesale business. I hear it’s a lot of work but that’s alright I’m willing to put in the work and hustle. So my questions are:

1. What business systems should I put in place first to streamline the process?

2. What kind of people should I be looking to hire first?

3. What sources of information should I be focusing on? (Aka Lists and Data)

4. What marketing strategies are the most effective in 2020?

5. Where should my efforts be focused in the context of a business owner?

6. (For fun question) What is your favorite food? 😂

Any advice would be greatly appreciated! 😁🙏

[Jeremy Davis]

Originally posted by @Ethan Garrett:

@Anthony Vargas currently I’m trying to find a real estate attorney to go over a contract with me and give me advice on how to structure my contracts and what means what. But I’m at the point where I’ve learned a lot on my own and I need a mentor to come and help fill in the gaps/ walk me through a deal, and how to decide what’s a good deal and what isn’t.

Just a bit of advice, it sounds like you're not approaching this correctly. You're trying to talk to attorneys about contracts, yet you don't even know how to analyze a deal. If there was ever an example of running before being able to crawl, this is exactly that.

You can contact title agencies and ask for theirs, you can download basic contracts, hell, you can even "borrow" from other wholesalers that email you. My point is, start where you logically believe you should start, and don't jump ahead or skip around.

Step 1: Start building a buyers list. You will need that much faster than you expect once you start marketing... and go from here

hope that helps ;)