What is the one thing a wholesaler should know before starting?

[Eric Trostle]

I've been sitting on the sidelines way too long and need to take some massive action.  I've decided that wholesaling is the path i am going to pursue and want to pick everyones brain about what they wish they knew or would do if they started all over again!

[Jay Hinrichs]

@Steve Vaughan  I think the reason they do is for some reason they believe what they hear that the way to buy rental real estate when you have no money.. is to wholesale first get some money then buy rentals.

when in fact wholesaling or buying and selling deals quickly in any volume takes a lot of skill.. significant marketing capital.. and most of the time they are breaking the real estate laws.

And you have all sorts of HOW TO trainers selling their boot camps and of course they lead with you too can get rich with NON of your own money..

theoreticaly that's true.. but not really reality in the real world..

not to mention some areas simply do not have enough distressed real estate to make it viable at all.

other areas like urban cores and cities that have seen hard times much easier to at least snag low value assets no one wants.. much of this is done is rough areas.

Granted there are always hoarder houses and other fixer types in the nicer areas but its uber competitive for them.. and generally there is not enough profit in them to feed all the mouths.

the wholesaler the buyer the buyer having to use hard money the contractor sales cost etc.. that in my mind is why you see so many post about HEY wholesalers don't know what they are doing.. In most cases they just are hoping they know what they are doing.. but they just spent 5k on mailers and they are going to throw  deal out there and pray someone is not swift enough jumps on it.