Learning about WHOLESALING

[Angelina R martinez]

SO, based on what I've read thus far, wholesale get a bad rap. I'm ok with that part, but I am currently working a W2 and I am looking for a side hustle to earn extra money to buy my first property. I am on fire and ready to do this. I was looking at starting wholesaling as my side hustle to earn that extra cash and my question is, can I do this independently under my own LLC? or can I do wholesaling for a broker? what are the pros and cons of each? thank you?

[James Heller]

Hi Angelina — I have a slightly different view. I wouldn’t be intimidated by the marketing costs, and full time or part time discussion. It takes work, and it can take a lot of time up front. A budget can help expedite that piece. 

I had a full time 9-5 when I started out and still do today. I worked hard to squeeze in around 10 hours per week of driving for dollars at night and calls during the day. It took me around 5 months for my first deal and I considered quitting several times. I will say I invested in a few tools that amounted to around $1000 over that period. This breaks down to propstream for data (just pay once and pull a bunch of data), batchskiptracing for contact info, and Mojo for a dialer. I would say the last one is most necessary, the others are nice to have. 

I closed my first deal for $45,000. Considering the time and money I had put in, this amounted to around $110/hr. I’m planning to put together a short video on this deal and the “bare minimum” tools to get a deal done. I’ll ping you when I put it up

James