Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 2 years ago, 12/02/2022

User Stats

18
Posts
9
Votes
Heather M.
  • Kannapolis, NC
9
Votes |
18
Posts

Am I a fool for quitting wholesaling?

Heather M.
  • Kannapolis, NC
Posted

Hi Everyone, so 5 months ago I delved into learning about real estate investing. Professionally I've had a successful career as a fundraiser for 501(c)(3) organizations, but I've always known that I wanted to get involved in holding and/or flipping properties someday (my initial thought was in the distant future when I receive some type of inheritance- being that I have young kids we don't exactly have thousands of dollars laying around to invest these days!) But anyways, I found out about wholesaling 5 months ago and jumped right in, literally making offers on properties the week I discovered that wholesaling existed. I thought it would be a great way to make seed money for my first rental property without having to wait for a large sum of money to fall into my lap (I don't exactly want to be looking forward for family members dying and I want to kick *** and make money on my own!) and I started working with a coach who has been trying to help me build my business from the ground up and work with me through closing my first deal (which still hasn't happened yet but I am only able to work on this 8-10 hours a week so I don't know if that's too abnormal). But here's the thing I've realized in the past 5 months. I hate wholesaling. At least some of the methods I've been using with the person I'm working with. Telling people I have money I don't have, making what I feel are insultingly low offers to people on their homes, telling people I have great deals when I really don't know how great they are or aren't, having my phone ring off the hook with prospective buyers when I'm trying to take care of 2 toddlers all day and managing my other business- I just don't feel like this is the niche for me. I have really felt discouraged about it the past few weeks- I KNOW I want to be an investor and I don't have a ton of money to get started in my first rental (about $6,000-$9000 to put down if I bought in the next few months- it'd take me a while longer to come up with more than that), but I really just am uncomfortable with wholesaling. I've invested a few thousand into my education on the topic, and invested a ton of time over the past 5 months- would it be a really bad decision to stop wholesaling and just try to save up for my first rental? What do you think?

Loading replies...