My mom went to bed angry...

[Scott Johnson]

My family started a wholesaling business and we're progressing well. We are a part of a wholesaler team here in town, multiple wholesaling companies that operate independently but JV on deals regularly, and we tend to help each other out by sharing information, strategies, etc. That being the case, we attract buy and hold investors to our meetings as well.

A friend of mine is a buy and hold investor who, like us, is looking to purchase multi family for cash flow and we’re working together to develop a mastermind. Well, my brother and I are working with him.

This investor asked if he could ride around while we drive for dollars and if I could outline how Podio operates, so as to get a better understanding of what we do as wholesalers and how he can use Podio to his advantage. I agreed and we scheduled it for Monday. I then get to my moms house later that evening to learn that she’s gone to bed livid that we’d do such a thing, because we’re helping the competition. No doubt she’s seeing the deals that we would NOT get, if this person was to start wholesaling.

In my mind, I’m developing a relationship with a potential partner and, even if he does start wholesaling, we would appeal to different sellers. There’s plenty of deals out there and money to be made, so why not give and teach in order to help develop someone so they can reach their goals, especially if they’re similar to ours? There’s business practices and plans that I will obviously keep to myself.

Am I wrong in this? Should I be seeing everyone as potential or actual competition?

Has anyone dealt with a similar situation and been able to develop the idea of reciprocity in their partner?

Thanks in advance.

[James Wise]

Originally posted by @Jay Hinrichs:

@James Wise  NO kidding last thing you want to do is train your competition.

unless the market has literally 1000s of vacant homes.. there is uber competition for great deals.

to do this on the hopes of a deal or two..  the flip side is you teach him and the next thing you know your competing.

its why when I bought courthouse steps.. we don't talk to anyone who asks questions.. I just reply nicely its all public record

 Lol exactly. Realtors have this mentality too. Well I guess that makes sense considering all the wholesalers in this thread are doing is acting as unlicensed Realtors but that is a topic for another day.......Anyways back to the topic at hand. I used to maintain a decent roster of Realtors at my brokerage. At one point I think I had 50 or so. No more. Good god I hated that aspect of the business. The turnover was insane & the miss appropriation of time & resources was enough to make you want to smash your head into a wall.

Too many Realtors think that other Realtors are their friends & that part of the job is to network with other Realtors. In reality that is the furthest thing from the truth. One Realtor who used to work at my firm, this girl bless her heart I see her social media feed & every week it's something ridiculous that she is doing. Dancing with the Realtors, Realtor Prom, Realtor mixers & some random Realtor networking event where the only people there are other Realtors.

Guys if their is a room full of Realtors & you are a Realtor you DO NOT want to be in that room. You want to be in a room with potential clients. Same thing we have here. Your job is to find buyers & sellers. Do that & nothing else.