All Forum Posts by: Katlynn Teague

1) Wholesaling is a full-time job, you need to be able to dedicate at least 40-60 hours a week to growing your business. This is not a "get-rich-quick" occupation. The best way to describe wholesaling is trying to move a 10,000lb rock, it takes a lot of time and effort that builds and eventually, you start to move. But the second you stop putting in the effort the ball starts rolling backwards. Be ready to have lots of early mornings and late nights of working hard to see success.

2) You have to stay consistent. This business requires consistency, time block your schedule to stay on track every day. On the days when things get tough, you feel like you've done everything you can and you're still not seeing results KEEP PUSHING. If this was easy everyone would be doing it. A lot of people are trying but only a handful can actually build a success.

3) Master your phone pitch! You need to sound professional, put together, and trustworthy. The first interaction is so so so important.

4) ABC ALWAYS BE CLOSING! In this industry, everyone is your client. You can run across someone in the grocery store that is looking to sell their grandparent's house ect.

I could go on, but if you are looking to get into real estate wholesaling and you have questions feel free to message me. I hope this little bit of information helps!

Happy Investing :)

5 Votes

Quote from @Julius Clark:

Todays Topic: Wholesaling
Have you ever purchased a home? Chances are you did not do so with wholesaling. Most commonly what we think of the home buying and selling environment we think of traditional real estate involving both a buyer's and seller's agent negotiating for their respective clients. The process of renovating the property, staging it, listing it on the MLS, finding a buyer, and finally getting the deal to the closing table can take weeks if not months. Selling a home in the traditional environment typically involves lending options that require timely steps such as an appraisal or inspection. There is a reason that this is the traditional way to buy and sell homes, but for those looking for an alternate option that is conducive to certain situations such as, cash and hard money buyers for buy and holds, fix and flips, owner occupant investments, let me tell you about wholesaling.

Wholesaling is most prevalent in the investment community with homes that need to move fast. That is not to say that you could not purchase a wholesale deal for your next home. However, it is common to expect wholesale deals to needs some work that may turn away the average homeowner. These homes are typically distressed properties. Meaning that for some particular rhyme or reason the property needs to be sold. Those reasons could range from an investor needing to off load some capital, a recent death in the family, and even house fires. The wholesaling process benefits the seller with a quick close and quick pay out and it helps the buyer by getting them a discounted property.

That being said, not every wholesale deal is a good deal. The wholesaling process is difficult and some times confusing. Homebuyers should ask questions like:
-What could this property be worth after repairs?
-Will this work better as a rental or flip?
-What is the job market like in that area?
-Are there any special tax assessments?
-Will this property work as *blank* if *blank* does not work?
And many more

Working with a licensed real estate agent as a wholesaler can help you gain answers to some of these complex questions. Make sure to remember that wholesalers only represent their interest in the property. It is definitely a fast moving market that rewards those that build a team and stay educated on the market.

This is a great post!

1 Vote

Indianapolis, Indiana

Don, you do make a great point. I started my wholesaling journey with a nationwide brokerage. It takes countless hours and lots of money to get a start in this field. On top of that, I also have my real estate license. Starting through this process has made this journey so much better. Wholesaling is a full-time job, you need to be actively working at least 60 hours a week to start making any progress. This is not something you do "part-time"
I work with a lot of wholesalers and agents here in the Atlanta market. The majority of the wholesalers I have tried to work with really have no idea what they are doing. These are the types of people that give a bad stigma to wholesaling as well as tarnish someone's thoughts about other wholesalers. Going through the forums you will see a trend of comments amoung investors. They only work with a handful of trusted wholesalers who have built relationships. The moral of the story, there is a definite difference between a wholesaler and a "wholesaler".

1 Vote

Welcome to BP Kimberly, so happy you joined us! I would love to connect with you, I am a licensed realtor in the Atlanta market who specifically works the investment side!

0 Votes

Atlanta, Georgia

Hey Melinda, welcome to BP! I would love to connect. I am an investor-friendly relator in the Atlanta market as well! Let's connect, would love to do some business together!

0 Votes

Atlanta, Georgia

Welcome to BP Edwin! What are you looking for?

0 Votes

Atlanta, Georgia

John hit the nail on the head! Direct mailers take a lot of time, effort, and money but you will see some results. You can also try calling lists of vacant homes and divorcees for leads as well!

1 Vote

Chicago, Illinois

Quote from @David Ramirez:

1) Look for recently sold flips and reach out to the sellers and ask about their experience with the flip, and whether they are interested in buying more properties.

2) Search for recent cash sales on Propstream or Batchleads, once you've identified a list of properties, you can use skip tracing tools to find the contact information for the buyers and reach out to them directly.

3) Networking events can be a great way to connect with potential cash buyers in your area.

Good luck!

Thank you so much!!

0 Votes

Good Afternoon BP,

I have hit a little bit of a slump in finding new investors to work with, I need help!

I have been throwing bandit signs, lots of fieldwork, Facebook posts, craigslist, ect
But I have not seen the quality investors like I use to when I first started. What else should I do or add?

0 Votes

Quote from @Ryan Farley:

HI BP Community. Anyone have a wholesale friendly Title company based in the Atlanta area that they recommend?

Thanks,

Ryan

Katz Durrell is the absolute best!

0 Votes

Atlanta, Georgia

All Forum Posts by: Katlynn Teague

Katlynn Teague has started 80 posts and replied 326 times.

Post: Real Life Wholesaling

Post: What is the Wholesale Real Estate Market

Post: Wholesaling Realty - or is it Reality

Post: New Member Introduction

Post: Investor Friendly Realtor

Post: Real Estate Investing

Post: Wholesaling - Mailing Campaigns

Post: How are you finding your buyers?

Post: How are you finding your buyers?

Post: Wholesale Friendly Title Company