Top 3 Mistakes New Real Estate Wholesalers are Making

The right education and the right mentor can help new real estate investors overcome and even avoid a lot of the issues new wholesalers run into. So, here is the list of few of those issues and most importantly, how to avoid them:

• Mistake 1: New real estate wholesalers focus on the wrong activities

This is huge when it comes to new real estate wholesalers. They take advice from lazy real estate gurus or people with little working knowledge of what it really takes to make it in the current real estate investing business. These new real estate wholesalers are directed towards choosing the path of least resistance. They choose all the easy and non-needle moving activities, i.e. designing business cards, perfecting the business logo designs, or adding little details to the real estate investing website.

Then they start on building their power team like finding a real estate attorney or a real estate investor-friendly title agent. They start finding deals and building a cash buyer lists! The power team stuff will come later, the most important thing is finding a deal and getting the ball rolling.

• Mistake 2: New real estate wholesalers go to real estate agents for advice

New real estate wholesalers will go find their cousin or friend that happens to be a real estate agent and start asking them for real estate investing advice. Except, those people might not know anything about real estate investing and especially creative real estate investing. They’ll shoot down the new wholesaler that’s already a bit hesitant and tell them wholesaling is illegal and not a good idea at all but they’re wrong, wholesaling is 100% legal and new wholesalers shouldn’t let these people shake their confidence. New real estate wholesalers need to focus on getting advice and education from people that are experts in wholesaling and creative real estate!

• Mistake 3: New wholesalers try to give motivated sellers a lesson on wholesalers

To stop trying to explain the wholesaling process to motivated sellers because here’s the reality: it’s not a concept you can wrap your head around in a few minutes. Option one is making a short presentation and explain to the motivated seller that you’re buying their house for cash and that there are multiple things you may do with their property. Option two is don’t explain it at all.

Topics: Real Estate, Wholesale Market Investment

Work cited: Cody Sperber, June 23, 2020

If I can help in any way please let me know, [email protected]. Stay Safe & Healthy.