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Updated 11 months ago, 01/03/2024
Need Opinion on the Justin Wilmot 10 Hour Wholesaling course
I recently came across an invitation to purchase Justin Wilmot's 10 Hour Wholesaling course....granted it is extremely inexpensive compared to what coaches at my local REIA are asking...but I just wanted some feedback to see if it's something that I should consider. I'm a newbie and still trying to gather information regarding this business.
Thanks
The concept didn't make a whole lot of sense to me when I first heard it, buyers in my home market are a dime a dozen. That being said, Justin and some other wholesalers I've heard of have obviously created a lot of value in their business with their buyers list.
I just saw a new "we buy houses" sign in my neighborhood and I'll probably give the number a call and let them know I have strong buyers if they need one. One thing is certain, if you can find a wholesaler with deals but no buyers you've found a wonderful opportunity.
Agree with Tom Smith. Have you closed your first deal ? I am more interested to start with wholesaling but have no clue where to start !
Looks like one has to start with those "Guru" courses that are available in the market.
I bought this course for $67 in November of 2014. It was the catalyst to my journey in RE.
When i bought it, it was informative. Meaning I got enough info to jump out and start doing deals.
Unfortunately, when I learned of BP a month later and looked through forums etc you find that selling other people's deals (daisy chain) is SO unattractive in your buyers eyes. This is because RE is a small world. Buyers already saw your re-advertised property the first time and if you pitch them again, you've instantly lost credibility. This is why I chose to be the wholesaler and get my own deals through my own marketing.
I've seen this get mentioned a few times recently (arbitrage wholesaling by joe McCall) and will say yes, it does work, BUT you have to literally be PARTNERING with your wholesaler AND have an idea of what a deal really is. You pitch an ugly deal, there goes your credibility again.
The reason this works for Justin and others is because they already have a cash buyer following who TRUST them and their deals. Their cash buyers listen. If you're new, im gonna google the hell out of this and if I find someone else selling it (especially if they offer it lower than you) I'm throwing away your email.
If you want to make this work, find a newbie who is just starting their marketing and offer to find a buyer for them and split the fee 50/50 or 75 original wholesaler/25 you. That way you can start doing deals with no money and build up your cash buyer list.
Overall though the course was pretty good for $67. I got the basic info I needed to get started as a wholesaler. I recommend it.
Also I am a naturally paranoid person. I can't have even an ounce of chance that a person might cut me out of a deal. Get your own deals so you won't be paranoid.
Thank you Ana, that was a very insightful and useful answer. Much appreciated.
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#3 Guru, Book, & Course Reviews Contributor
- Investor, Entrepreneur, Educator
- Springfield, MO
An old thread revived that I ignored.
Newbies to BP, some of us are paying it back so to speak, it's because we love the business, the industry, don't get that confused with value to you since you're probably not in a position to evaluate the value of advice, if you were, you probably wouldn't ask the question LOL.
I've made more in consultation than most will ever make on their first deal or in 10 deals, just because I don't have my hand out doesn't mean you're getting poor advice, did your parents charge you to raise you?
As to the "program" interesting, selling contracts through a network, sounds like something the SEC might be interested in too! :)
There has only been one person who has replied to using this system and they didn't share any particulars on the deals they did and they were very fluffy in their response so it makes you think twice I hope. I tend to agree with Tom - it's sounds like birddogging. If you need help I'd use someone reputable on BP like Micheal quarrel's system.
This post might be little old but I hope my information is of any value. Like many i've spent a lot on education I can say it was a starting point for because face it I don't know what I don't know meaning If I knew BP back then I would not spend a single dime. Face this business whether most agree with me or not it's customer service and sales especially when dealing with home owners. Once I found BP I realized you just need to do it! there's no program or software that can replace this it can make thing easier but if you spend every single dime on education at the end of the day this wont make your phone ring with home owners interested in selling.
I fully agree with @Bill Gulley Bp I've noticed the info on BP guru's normally charge for just get out there talk to home owners and do your best!
I truly believe if you have a awesome deal everything else will fall in place. From reading several response it seems like it's bird dogging that's personally not my stile for the simple fact that what VALUE do I bring since I'm very young I'm learning that life has a lot to do about positioning. Would you rather be in a position showing an investor a deal you only has access to or a deal that's been tricked around? If you where the investor who would you take more serious?
We "Humans" tend to make thinks very complicated I'm still new do I have a buyers list nope...
Do I have a special software that tracks everything nope....
Do I have business cards LLC ETC.... Nope
Am I talking to home owners every week and consistently following up, setting appointments every weekend...... YES....
I choose to figure all that other STUFF out once I have a contract signed...
(Note) I'm still new I started taking action this past month and the experience alone of being present with a potential lead walking in their house asking question and learning from their story is amazing!
just my thought anyways
Originally posted by @Sha'Niece G.:
@Renee Green I also came across his program and decided to try out the 7 day trial where I pat only 7 now then the remaining 60 if I decided after the 7th day that I like the program...
Was it $67 at one time? The email I got yesterday says it's $97 but offers a 30 day money back guarantee...I'm really ready to do this. I've taken Armando Montelongo's 3 day course, Rich Dad Poor Dad's 3 day course, bought Dolf DeRoos RE course...I've spent so much money to just sit in these LONG classes where they charge $500 just to tell you to spend thousands more on their bus tours...this whole thing is so ridiculous. God help me, if and when I become successful in this business, I'm gonna help people for FREE because I'll be able to afford it! Sheesh! Ok so still looking for feedback here September 2, 2015 - has anyone done a deal with this 10 hour wholesaling thing? Is it worth it for $97? I just paid $400 to do an online, self guided course to get my RE license in TX, but that's going to take months. I really need $ now since Dad died & we're having to pay the mortgage on Mom's house...thanks!
Originally posted by @Justin Wilmot:
@ALL. Thank you for your interest in the 10 Hour Wholesaler program. My course is accumulation of everything I have learned in the real estate space as a Wholesaler, Rehabber, Developer and Landlord over the last 6 years. I have boiled down what I believe to be one the most efficient ways to do deals in this current market.
As a fix & flip guy who depended on my relationships with the top REO brokers in my local markets for Inventory, we where spoiled with 2-5 deals hand delivered to me on a silver platter each month. Things have CHANGED. A new model was necessary.
What I have dubbed as "10 Hour Wholesaling" sparked from a deal I did from one of my members of the Flagler County Fl REIA that I operate. A 10HW is NOT a "Birddog" or getting in the middle of a deal to collect a fee. It IS an elegant mash up of traditional Wholesaling where we buy and sell other wholesalers Purchase and sale agreements as Principle in each deal to our investor buyers. Rather than direct to motivated sellers, in this model we depend on other wholesalers for inventory and spend the majority of our focus on NEW cash buyer, passive investors entering the market in order to bring real value to the marketplace.
I still wholesale traditionally, but on a much more virtual, hands off model that I cover in the training.
I hope this clears a few things up and again I thank you for your interest and conversation here.
BTW, This model may not be for everyone and that is perfectly OK, so if you don’t like the outline above, don’t buy it. There are thousand blogs and opinions here on BP from other seasoned (and not so seasoned) investors. However, if it makes sense to you then I invite you to join our community and learn 10HW way. Make it happen :-)
Justin Wilmot
I have been sitting on the fence with your program, but I am still unable to find a good answer online whether this is legal in California. A simple straightforward answer would be much appreciated.
Jonalee
Hi, I would suggest you read "Flip" by Nick Ruiz if you want to get into wholesaling. You can find it on Amazon. I'm a newbie but have found his book to be very helpful! :)
I came across his program, I never signed up for it because at the end of the day, it doesn't make sense to pay for that information. But I will say this, it does work, using wholesalers to help your buyers out. The wholesaling process is simple. But getting buyers to buy, is the hard part. But what's so beneficial about it is, you gain buyers from the process. I have, and gain 100 new buyers last week. But you have to make the wholesaler work for you. They have trouble for the most part finding buyers, and all you're doing is finding buyers. The new investor that's ready to buy, you have to find lending for them, that's the major part key I feel like he might have left out. But it works.
1. Find lenders
2. Find buyers
3. Find wholesalers
4. Market inventory on your site to buyers and online ( with permission, if not, keep building list )
5. Get buyer.
That's pretty much the process, but it's good for somebody who's starting out, and doesn't want to be tied into a property they're afraid they can't sell.
Know nothing about that course. I do know some good ones. Unfortunately, I know of a lot of bad ones, too. I'd talk to someone who has used the material who actually made money with it...at least enough to pay for the cost of the materials.
for heavens sake it's the 5th post from the top he said it was legit. read people.....
I'm new at the real estate game but I've been an attorney for 22+ years. And yes, I signed up for the 10-Hour Wholesale course. My assessment: for $97, it's not bad at all. It's very informative (if you're new), and puts a lot of ideas out there on the table. I mean, as I later found, you could probably learn all of this on BP or through any of a number of other channels but I did want to mention one thing which is that Justin himself is actually the real deal.
If you have a question or a problem, he's very responsive - in fact, we sparred a bit over the difference between wholesaling in Florida (where he's from) and Pennsylvania (which all but outlaws wholesaling) and he actually looked into my concerns regarding PA law and transfer taxes and got back to me. And no, I didn't have to buy any other product to get a response from the guy - just sent an email. In my business, free advice is pretty much reserved for the initial consultation, so the fact that he'd even personally entertain a string of correspondence from a "student" says a lot.
Bottom line: $97 isn't much to pay for what you get - and Justin is a great source of info.
I purchased the 10 Hour Wholesaler yesterday and took a cursory look at it. From what I saw I liked it, I don’t learn well by “researching on Bigger Pockets” but I do rely on BP to vet info I hear about (which is how I found this thread).
So my background is buy and hold rentals, I’ve been doing this about 3-4 years now and have 15+ properties. The reason I bought this course (and the past month a few others) is I plan to add wholesaling to my list of verticals in which to make money. Also so that I can cherry pick properties for my buy and hold business. To be honest I wasn’t really that interested in the “virtual” part but after listening to the two modules I am more interested in it.
I’m not sure how much help I’ll be in reviewing the virtual wholesaling part for now, that part is about 6 months out for my timeline. But the rest of it looks fairly thorough with a large amount of docs to assist in things like autoresponder sequences, checklists, resources, scripts, web pages etc. His sales page didn’t really cover how much data would be included. To be honest I was really only hoping for the webpages and some decent auto response scripts.
I will try to update once I’ve really gone through the course, but as I said my focus for now is not on virtual wholesaling.
@Valerie Sorensen stop buying courses and coaching programs. Unfortunately, you are having "information overload". Be comfortable with the fact that you will NEVER have "enough" information until you have faith in yourself just get out there and do it. Either buy his course at $97 or buy Sean Terry's course at somewhere around $1k and do whatever it is they say to do. Then, in 1 month, you will know what direction you should continue to go: the bird dogging Justin direction or the standard wholesaling sean terry direction.
No matter what course or no course you choose, action breeds results. Period. No action breeds no results. Period. And if you don't get results, figure out what actions you did or did not take and blame that, not the course.
It states that this can be done anywhere in the U.S. but as I been reading in this forum is that some states have certain guidelines, and restrictions, right? Also I would like to know can this be done on a tablet instead of laptop? cause I have been using a tablet the last couple of years.
@Billy Wilson, Yes, you are correct many states have different regulations. The fix is simple and I cover this in detail in my trainings. Always hire and open escrow with the top Investor savvy real estate attorney in each respective market. I literally have a dozen on my team and Yes, individuals that have sat down with everyone from the Board or Regulators in their respective state, to the states attorney office to the Lobbyist in DC. You can buy, sell and market what you own in every state. Contract or real property. No reason to get overwhelmed, just make a single phone call, intro yourself tell them your intentions and head their advise. Not mine, or any other person posting on blogs the way they decipher contract and real estate law.
There are many ways to close wholesale transactions and if you are in a state where you can not do Simultaneous closings, Double closings,Assignments or a Double Assignment then freaking buy the thing with private money, your own money or again, pick up the the phone and call a transactional lender for 1.75%! Slap it back on the MLS and push it out to your personal buyers list.
People will say what they want on a forums like this all day to discourage ethical and aspiring investors like yourself. Why? I believe at the end of the day there are 2 main reason.
1) Because they are frustrated with their own results (Will never admit this publicly)
2) They are trying to sell you something
Neither of the above apply to me. 1) We are chugging along fine :-) and 2) Although I of course would like everybody to try the course, whether you do or not doesn't change my life. Obtaining that information is like a gift, not something I care to be forced upon you. Its the best information out there right now on wholesaling , but Buy it or dont.
YES, you can wholesale with a tablet. We just closed multiple deals back to back while I was in Costa Rica a few weeks ago ....I did 99% of it on my mobile devices. You could do the same should you choose buddy.
Disclaimer: I can accomplish this because I have staff , subcontractors and a team in place. I have been at this for years and I am not implying you can buy my course and magically be able to do the exact same. At all. I dont know you or your work ethics. You may accomplish absolutely nothing, or like one of my students do 10x more than we do. It's all up to the individual.
I do this because I give a crap about the every day guy/gal. I remember the frustration like it was yesterday and I made a personal commitment that when I "figured this real estate thing out" i was going to help as many people as possible to the same.
Make it happen!
@Justin Wilmot,
Is there any on going charges with your program or any types of membership fees etc, after getting the course?
Justin Wilmot,
Thanks for answering all my questions. I feel your upfront and do a wonderful job!
No problem Billy. The 10 Hour Wholesaler membership is a single payment.
I will check in on this thread more often.
Thanks
Hey Justin, just wanted to say that thanks to you and your course, I became a real estate investor wholesaling properties and my life has done a complete 180 from a year ago. I now wholesale 4-5 properties every single month and can really see myself doing this for the rest of my life. All because of your course, so thanks :).
I'm excited about the 10 Hour Wholesaler. I've done my research on several different programs. Most, you have to pay anywhere from 97-200 a month for some fee. This program you don't have fees or extras. I cant wait to dig in. Thanks Justin for your input and program.
