All Forum Posts by: Taylor Waters

James, in my long years of experience, I rarely see people making money in wholesaling as the process is full time and full on. It's not for everyone. The whole idea that "it's a great place to start because you don't need money or credit" is hogwash. It's a business and the biggest problem I see people make is to treat wholesaling as a side gig. I believe it takes a specific type of personality to make wholesaling a success and a program can't teach that.

Interesting perspective. Thanks for sharing. In my experience a lot of folks hesitation for getting into real estate as a wealth creating medium is the hefty amount of cash you need for a down payment. Real estate is advertised as this great investment strategy but traditionally it takes a lot of cash to start. I think that’s why people in a low capital situation lean towards wholesaling to build up their capital because it, in theory, takes none or very little to start.

Having said that, what would be your personal recommendation to get started with RE investing(with little capital) outside of the cliche “saving for a down payment for a duplex” strategy?

Here's the best thing I can tell you on your question: learn to be the ultimate entrepreneur. Is that teachable? I'm not sure. Why do I say this? Because an entrepreneur will learn about real estate investing (which we are all doing), then go out and find a good deal, THEN go out and raise the money - thereby not needing their own money. Sounds crazy to accomplish? Or sounds doable? There lies your answer as to whether you can do it or not.

Thanks, Tim. I have a lot to learn.

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Quote from @Nathan Gesner:

Quote from @Taylor Waters:

Here's what you need to understand. The mentor can give you tools, but you have to put in the work. I can talk to you about what it takes to get in shape, but you have to actually get off the couch every day, get to the gym, work out in discomfort, and do it over and over again. Talking to someone on the phone is not going to make you successful.

What information will this "mentor" share with you? The same information that's available in books for $14 (or free at the library) or for free in the forums and blogs. If the mentor is good, they will determine your goals and then tailor the information to your plan so that you can move a little faster and avoid a few mistakes, but you'll still have to do the work.

True. Thanks!

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Quote from @Tim Ryan:

Quote from @James E.:

Quote from @Tim Ryan:

I'm not against paying for education and coaching. I've paid tens of thousands over the years and it has paid off very well.

I just would not pay for wholesaling education. Wholesaling is the hardest real estate strategy.

Why do you say Wholesaling is the hardest real estate strategy sir?

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Quote from @Don Konipol:

Quote from @Taylor Waters:

Hi all, I spoke with an investor via phone that I met through Reddit. I mentioned to him that I wanted to get started with investing via wholesaling and after some chatting, he brought up his willingness to be a paid mentor for me to get my first deal.

He said he would teach me Real Estate Economics, investor psychology, and how to find and build the right product/deal for an investor

He charges $150 a call if I book a batch of calls or $195 a call if I book one at a time. The frequency would be 3 calls a month that last 1.5-2 hours each. I want to take this as seriously as possible so in my case, is this worth it, or is paying for a coach/mentor unnecessary?

If the mentor knows what he’s talking about, has the experience and a verifiable track record then it could be a very cost efficient way of obtaining one on one guidance. Sure as hell beats paying $40k to an actor fronting for a real estate marketing company operating out of Las Vegas or Salt Lake City and providing guidance by a failed salesman reading answers from a script.

Sounds specific lol. Thank you!

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Quote from @Alicia Kuluris:

It depends. I have 3 properties and I learned everything from podcast, you tube and conferences. For that rate I would look at he Bigger Pockets Rookie summit. I went to that a few years ago when I decided I wanted to go fully Into REI. I have yet to pay for mentorship and I am doing very well. I would pay for masterminds or accountability pods at some point but I would rather save all that money for the downpayment. If you don't have time or don't want to spend hours learning on podcast or YouTube then it may be a good fit for you.

Makes sense. Thanks Alicia!

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All Forum Posts by: Taylor Waters

Taylor Waters has started 1 posts and replied 6 times.

Post: Paid Mentor Worth It?

Post: Paid Mentor Worth It?

Post: Paid Mentor Worth It?

Post: Paid Mentor Worth It?

Post: Paid Mentor Worth It?

Post: Paid Mentor Worth It?