All Forum Posts by: Account Closed

As much as the market will bear.

Yes.  It does affect your credit score every time someone does a "hard pull" of it.

Why in the world are they pulling your credit?  You need to explain what you are doing better, and talk to someone who runs the outfit instead of some yahoo at the front desk who only follows marching orders.

You don't need a license to wholesale as a long as you are a party in the transaction, but you do need training.

Too many people read a book or listen to a recording about wholesaling and mistake what they have heard for training.  That is education...awareness of what it is.  It is not instruction on how to do it.

If by "trying your hand at wholesaling" you mean bird dogging for an experienced wholesaler in your market, then that's a find way to get started.

If you mean go out and try it by yourself based upon reading a little about it and listening to a podcast, see the sentence directly above.

Invest in good, reputable training.

The Rule of 72 says that if you invest your $1,000 in some sort of fund (what are they paying now, 6-7% at best), you will double your money in 10 years or more.  $2,000 still isn't enough to do much, and you had to wait 10 years to get it!

Besides, if you build up some cash and still don't know what to do with it, you'll end up blowing it after waiting all that time.

You will recover your investment in the right training in no time and build from there.

@Jon Villa

Jon, based on your questions, I am not sure you have learned the process as you state in your post.  You know what the process is...you are aware of it.  Learning the process is 1) knowing already the answers to the questions you ask, and 2) having some successful deals under your belt.

My suggestion is partner with an experienced wholesaler in your market to work this deal with you.  Right now, your odds of it working out are very low because you don't even know what you don't know.  Better to share a piece of something rather than get 100% of nothing.

@Keith Burton

It's a numbers game, Keith.

Typical response rate to direct marketing is 1-3%.  That means to get 1 to 3 calls, you need to send out 1,000 cards.

@Account Closed

Right now, you are wandering in the wilderness.  

I have operated a robust wholesaling business for over 10 years.  Speaking from wholesaling experience (which the people who create the media you have read or heard rarely have much of), I can tell you wholesaling is a place to end up not to start.  Why?  What you are experiencing right now.

The stuff you have read or heard was education not training.  If you want to succeed at wholesaling, you need training.  Anyone who is any good will expect to be compensated for it, too.

You are a full time student.  Wholesaling in today's world is a full-time job.  If you can't afford training, and I gather you can't, consider finding the dominant wholesaler in your market and bird dogging for him or her.  He or she will know what to do with the leads you have found and pay you if they turn into something.  Essentially, you will learn and earn. 

Right now, going on your own, the odds of you exhausting all of your leads before ever getting paid on one is like drawing in hopes of filling an inside straight.

Not sure what you mean about "giving before you get"...which perspective?

Are suggesting that someone should expect to compensate an expert for sharing knowledge gained from experience and/or coaching and not get something for nothing?

Or, are you suggesting someone who is an expert share his or her knowledge that took him or her years and dollars to acquire and share the knowledge and provide consulting merely for the price of a cup of coffee just because, and then expect it will magically be paid back to them in the future in some non-specific way?

@Mark M.

Invest in training from a good on-site mentor if you have the cash.

If not, start as a bird dog for the big dog wholesaler in your market.  You can't learn wholesaling by osmosis. You learn by someone who knows what they are doing showing you.