All Forum Posts by: James Danchus

So after a few weeks of research, I have come to the realization that contrary to popular belief, it DOES take some money to start a wholesaling business.

My question to experienced wholesalers out there is, how big of a budget did you start with when you started yours?  

 By my estimates, the first month of business is going to cost around $1,500 to pay for the variuos services, buy my first list (1000 leads), and to send out the first/second mailers (3 weeks apart). After which, I'm looking at about $500 per month to keep the mail campaign running in 3 week intervals (assuming I just use the same list). That means I am looking at $5,500 total investment to keep the business running for 6 months.

Does this sound about right?     

It's really detailed. You obviously have given this some thought and set yourself up for success. Keep this thread posted on the results. I am curious to see how it goes.

I am right there with you, man. Consider yourself way ahead of the game if you found this out at 17, unlike me, who didn't pick up Kiyosocki until my late 20s. Now I'm under a mountain of debt with a degree that is barely worth the paper it's printed on.

My advice is, first you need to decide what you really want and define it SPECIFICALLY. Spending $30K on a Communications degree doesn't have much ROI in it unless you are at the top of your class and/or you get your Masters. That's just a fact. But spending $50K on a high demand skill like Computer Science is definitely worth it. It just depends on your passion.

Me, I just wanted the college lifestyle, but looking back on it I could have just moved to a college town and got a job!

Regrets aside, those were the best years of my life.

If you're still on the fence about what you want to do, I would definitely consider community college to get your reqs. Why pay $20K per semester when you can get the same thing for a grand.

Right now, if you are a unskilled worker (sometimes even if you are skilled) in our society, the deck is definitely stacked against you, just look at your mother's experience. Everyone is looking to strip you of things people took for granted 30 years ago. There are no more unions to go to. No one cares. So my question is, and I think the question Kiyosocki asked, was "why even play that game?"

Good luck in whatever you decide. 

Welcome Mike,

Looking to get into the wholesale biz myself. Hopefully we will cross paths sometime. Good luck!

Four words, bro: "Boots on the ground." What you think of as St. Louis is really 92 different municipalities. I would connect with someone who knows (and preferably lives) the area and partner with them. You shouldn't have trouble finding them here.

checkout Southside Investment Club at MeetUp.com 

It sounds like you have a good base to start from. A job in remodeling can teach you a lot. Good luck. Hopefully we will cross path in the future:)

From what I have heard, Southside is a really hard area too. Have you considered St. Charles County?