Wholesellers - Stop. Read this. Wholesaling is ...

[Cody L.]

...Dumb.

[Sorry to be mean.  My comments as an owner -- rant ahead]

Seriously.  How much are you guys paying for your "lists".   How many of you think buying a list of: owners that got a red tag.  owners that got an eviction.  owners with an out of state address, etc  is going to be the key to finding a distressed buyer.

Here is screen shots of texts to my phone.  Keep in mind:

* I normally delete them. So this is just wants left (I get more)
* This only includes texts that have the name "Sebastian" in them (which isn't even my name.  It's the guy I sold it to.  Which means I get texts about just this one property that are not on here as the 1st name isn't referenced thus didn't show in my search)
* I sold this property maybe 15 years ago. It was literally one of my first SFH fix and flips. So daaamn, how out of date can this be?

Do you think when you buy your lists to spam, that its not going to be someone that's got 100000 texts, emails, calls already?   The lists you buy have out of date info.  They're being bought by the same billion other people who saw some post on BP about how to make money with no money.   And even if you get a reply, you still have to somehow get it under contract at a price that'll allow you to assign it to someone else (or double close).

I just can't think there are people making money in this space.  And if there are, it can't be more than 1% of the people.  The rest are taking classes ($), buying books ($), buying lists ($), paying for text blasting ($),  email blasting ($), having virtual assistance to call and spam people ($).   Even if you do get a deal, after you subtract all your costs, what are you making per hour?

Now I'm sure of the 1,000,000 readers of BP, a few might comment "Oh you're so wrong.  Just last year I assigned a house and made $6,000!".   And that's great.  But -- and I don't want to sound like the filthy 1%'er I am -- couldn't you have added way more value to your life by spending that time and energy in a different aspect of RE?   

Enough rant.  Here are some texts.  Again, this is just for ONE house (that I sold a looooong time ago).  And it's just the texts that have the buyers name and the ones I didn't delete.

PS:  I've actually replied to a few of them.  I used to say something like "That's not mine, but if you'd like to offer on something of mine, here is a list of what I have", etc.  Or sometimes I'll ask about what list they bought that had the specific property they're asking about. 

 Know how many people replied back?  Nearly zero.  Which is crazy since if this is a numbers game (blast to 1,000,000 people.  Hope 1% reply.  Of those, hope 1% you can get under contract.  Of that, hope 10% can make $).  You'd think any reply would cause an action.  But nope.    So really -- maybe -- I just don't get it.   Maybe I'm the dumb one.  Maybe these guys are crushing it and I'm just pounding away on my keyboard on BP like a dork.

[Jerryll Noorden]

Let me tell you what is really dumb.

1. Coming to the WHOLESALING BOARD and then telling people wholesaling is dumb

2. Coming to a wholesaling board and then telling people, wholesaling(ers) are dumb thereby insulting probably half the people, calling them, and their dreams and passions "dumb"

Just saying...

Let me tell you what is NOT dumb.

If you don't like wholesaling, don't go to the wholesaling board where people want to learn how to do it the right way. They want to learn.

Guys, it is like every other post is from people crapping on wholesaling. Do you seriously not see how retarded this is?

So if you think wholesaling is done the wrong way, then TEACH them to do it the right way!

 Why be such a depressing negative force on the board where people come to be inspired to do it the right way.

Wholesaling is NOT sending texts blasts. Wholesaling is not, pestering cash buyers with lousy deals. etc. etc. Those are People that don't know how to wholesale. 

Wholesaling is getting a property under market value, and then assigning that contract to a cash buyer so they provide the cash buyer and the seller with value. Everyone thinks wholesaling is a free, no money needed strategy that magically will make you rich... OK tell them show them how it is done. But if you say wholesaling is dumb... it is YOU that is dumb, because many people are making a fortune wholesaling. That alone proves you are wrong right?

Let me ask you something.

Would you appreciate it if I brought you a deal 10% of the ARV (so if the house is $100K I get it under contract for $10K) where you would make $70K in profits in just 7 weeks?

Yes?

THAT is wholesaling. Not because so many do it wrong does it mean everyone is wrong or should stop doing it.,

Agian..

Stop whining  and start contributing, or just stay out of the wholesaling forum!

Seriously!