Best Wholesaling Course : Teacher

[John Garuti]

So I have seen Jamil a lot and astroflipping and I know he’s affiliated with BP. Who else is a good source To learn wholesaling from? Would love to hear your experiences with other coaches.

[Jerryll Noorden]

Quote from @John N Cook:

Jeryll, interesting thoughts.  What pitfalls do you run into when wholesalers bring you deals and what do you think makes a successful wholesaler that you would trust and want to work with?  I appreciate your thoughts!

No one needs to bring me deals. I don't buy deals from wholesalers. Wholesalers honestly could not possibly match my deals. No way!

Besides, deals come to me. I don't go to them, I don't chase them. Deals literally chase us.

Allow me to demonstrate:

My average wholesale fees range between $50K and $100K. To most that is unheard of, but this is extremely simple to do.

Let me ask you. Do you know what a motivated seller is?

Most of you will say "Yes, yes I do".

OK lets see.

Someone that wants to sell their house. Motivated?

How about someone that NEEDS to sell their house? Is this person motivated?

OK how about this one? Someone that desperately begs you, falls on their  knees, begging you please "buy my house right now, fast in cash, otherwise bad things will happen to me"

Motivated?

The answer to every single one of these questions is false.

A motivated seller is someone, who is willing to sell their house below market value. The reasons why selling is irrelevant. Foreclose, job loss, tax liens.. who gives a crap. Are you willing to sell below market value yes or no. If yes, we'll talk. If no, go find an agent.

Now think!

How many mailers do you need to send the foreclosure list, absentee owner list, tax liens list etc. etc, to ger ONE closed deal? 1000? 3000?

OBVIOUSLY, you are not targeting motivated sellers sending mailers calls or texts to ANY of these stupid moronic lists right? If you were, you would not have LESS than a 0.1% conversion rate. Yet all these people here on Bigger Pockets, youtube, and everywhere tell you that you need to send mailers calls or texts.  Am I giving you an opinion? Or is this straight DATA?

This is data, not opinion.

So here is the secret to how and why my deals have such huge spreads.

All of you are sending mailers calls or texts to people on lists, right?

So, here is what you are doing. You are sending mailers, targeting people that want to, need to, or have to sell their house, while me? I am targeting people willing to sell their houses below market value.

This is an ENTIRELY different audience.

My audience is willing to sell below market value, yours barely even wants to sell, let alone below market value.

You CAN NOT target motivated sellers. Impossible. Your conversion rate sending mailers calls or texts proves I am correct.

The only way to reach actually motivated sellers is for you to make it extremely easy for them to find you.

When was the last time you went to the public library to find information on a problem you were dealing with?

Never! You go to Google. Everyone goes to Google, including motivated sellers.

Make sure you are extremely easy to be found on the internet, by the exact audience that fit the services you offer.

If the majority here simply learned to listen to data, you would be so much more successful. Instead, most ignore the blatant outcries of your horrible marketing strategies (less than 0.1% success rate), but simply choose to ignore it..

Even worse..

What do you see responders here on the forums tell you?

THIS:

If your marketing doesn't work, ... you didn't do it enough. Do more, and stay consistent.

People trust me when I tell you.. when something doesn't work, you do not do more. You do not stay consistent. 

You stop, you halt, and you go back to the drawing board. 

Everywhere else. EVERY dang industry out there takes its data seriously. Except REI. It is absolutely bonkers to me! And that is why, my friend, I am absolutely NOT impressed by ANY wholesaler I have encountered.

There is NOTHING special or hard about "wholesaling": Wholesaling is getting a house under contract below market value and sending all the paperwork to your lawyer.

The challenge is not wholesaling. It is lead generation! Hence.. most wholesalers absolutely suck at marketing, hence they will struggle to become successful. Harsh, maybe, true? Absolutely.

@Timothy Holden

What makes a wholesaler a good wholesaler? 

It is knowing your job. Know what or who your audience is. Know your message.

Know the service you provide and to whom. The average wholesaler thinks they need to go pitch their wholesaling gig to anyone they THINK would possibly sell their house.

From my text above you now know that is not the case.

Let me tell you the secret to business.

You need to approach the right audience, with the right message. Your message is your business, your service, your offerings. That doesn't change. Your message is "I offer cash for your house at a discounted value". That is the trade-off for a fast hassle free no strings attached sale.

That is your message.

Do you think that message will resonate with someone that just wants to, needs to, or has to sell their house? No. Absolutely not.

A good wholesaler knows his place in the market. They don't step on real estate agents' territory. They understand their audience. They know how to find their audience and provide a solid service only THAT specific audience is after. Those that fully get this, will become rockstars.

This entire thing is not that hard. What truly makes it hard is everyone giving advice like they are the experts when they have not a clue how it all works, and you see newbies here following the people that get the most votes, and they follow their advice, being completely misled.  Remember, this is not a popularity contest. It is a battle of witts! 

Survival of the smartest!

Maybe, hopefully, this inspires a few of you to stop following others and start thinking on their own. We'll see.