Is wholesaling Easy???

Question

Something I noticed in my market and I noticed on BP also.Everyone wants to Wholesale because they think it's easy.

Well, If you not prepared to hustle and find deals, Than it's not going to be easy. You are not wholesaling if you looking for deals on realtor.com or zillow. You are not wholesaling if you don't even know what a deal looks like.

If you are not prepared to dump money into marketing, send out direct mail, door knock, drive for deal flow, pass out flyers, solve sellers problems, further your real estate education,negotiate and market a deal to your buyers list.(not on Craigslist or Facebook)Than wholesaling isn't for you. There's no such thing as real estate investing, wholesaling, or flipping with out the sacrifice of money and time.

Than you ask why you can't find deals.

Is wholesaling easy. Compared to investing and flipping yes. If you are not willing to go the distance and hustle to find a deal ,(that no one knows about)

The answer is no.

Everyone wants to wholesale, but nobody wants to be a wholesaler.

Rant complete.

Pete Perez · Answer

@Damarius Gilbert

Short Answer: No.

Its also not always cheap which is what a lot of people are led to believe. To be a good wholesaler you need:

• Great marketing skills
• Phone skills (negotiation)
• Understand the rehab process and to estimate what it'll cost
• Good people skills (if you are going to meet them in person)
• Understand how contracts work (if you are assigning)
• Have access to cash to close on a property if you can't assign it (This is the ethical question about wholesaling and I think if you make a cash offer you should have some sort of access to cash- HML, PML, etc).

Its not easy, but there are plenty of people who do it successfully. I am currently failing at marketing to properties to flip, so I am already messing up the 1 of the key things to know lol. I am learning as I go though.

Tom MacDonald · Answer

This is a major benefit to wholesaling, in my opinion - I can be really fun!  I've found great satisfaction and excitement simply building a business, forming a team, and beginning to understand the power of leveraging the skills and enthusiasm of great people.  It's just fun to build your own machine that begins to work for you and support your own efforts, and the barrier to entry is extremely low compared to other business ventures.  However, you still have to be a true entrepreneur to succeed in it, and that means hard work and determination.

Damarius Gilbert · Answer

I'm still learning also, I try to pass off what skills I know. But some people don't have the work ethic and drive. It all boils down to what are they doing to find a deal. Which most of the time is a whole lot of nothing. But they will ask a thousand times what are you doing different. I even offered a few Newbies here in El Paso to bird dog for me but they think it's beneath them. I guess they thought I was just going to hand over my buyers list and give them a step by step without a value add for me.No matter what advice Is given.

Nothing supplements hard work.

And I do not create my own competition.

Damarius Gilbert · Answer

@Luis Aguilar everything I learned is from BP and podcasts just look for it. Or read my past posts. I just made a execel spreadsheet and went out driving ,building a lead list, during lunch time at work which is like a hour. Or hour after work. I would eat while driving. I would leave a flyer on door with Heading Notice!!! With a one paragraph sells pitch. And I got a my first two deals that way. You can find who the owner is by checking tax appraiser website. If it's absentee I put a star beside it on spreadsheet and mail it that same day. Handwritten letter with a one line sales pitch. "I'm very interested in buying your home". If they interested in your lowball offer,after meeting and talking to them and finding out if they motivated or not. Have them sign one page purchase agreement, Send it to title co, have my cash buyer sign one page assignment contract, send it to title. Wait for title co to tell me to come pick up my check. That's what I mean wholesaling is easy, but being a wholesaler is hard. You have to spend time and money finding deal.  I did my last deal all of my phone.

With two phone calls and four emails.

Seller called me, I emailed contract, I called buyer,  emailed contract, emailed both contracts to title co, done.

Just stay motivated and don't quit during the droughts,

Luis Aguilar · Answer

Everyone,

This has been a great read for me. Nothing is easy. With that said, wholesaling can be lots of grind and hustle much like anything else. I am also new to the real estate business and looking to build capital in some way shape of form. I am currently in the process of learning all I can to be a wholesaler. I am in the phoenix area so hopefully I connect with wholesalers here!

Luis Aguilar · Answer

@Damarius Gilbert

Your work sounds admirable! Who did you start driving for dollars with? Also, when you found a house that looked vacant or distressed, how did you actually buy the home or what process would follow next? Sorry I am a little confused as to how someone would actually start wholesaling. In regards to wholesaling, are there any readings you would recommended?

Do you walk door to door in those different areas? Do you post flyers?

Damarius Gilbert · Answer

for better clarity with "most aren't worth my time.". Direct mail I get better quality leads but low response rate. Because I'm target marketing. Flyers and Craigslist ads surprisingly gives me better response rate but poor quality lead so I don't waste my time.

Damarius Gilbert · Answer

Also remember I don't help anybody out when it's not a value add for me.It's a business😉

Is wholesaling Easy???

Most Popular Reply