Wholesaling Realty - or is it Reality

[Don Konipol]

After 15 years of enjoying and learning, and teaching on BP, something has occurred to me. Most people new to real estate are influenced by YouTube videos, guru seminars, podcasts, workshops, or real estate how to books. And those interested in buy and hold, fix and flip, cash flow investing, STR, etc all have some serious misconceptions about the time, effort, capital, expenses and ROI associated with it. But, those interested in wholesaling go way beyond this. A great majority of these wannabes are almost delusional when it come to their chances of successfully wholesaling properties. I don't know if this is because the gurus who sell wholesaling mentorship's have nothing ‘solid" to sell (there is no "investing", it's a job), if it's because that most wannabe "wholesalers" possess no capital, or because they have no experience.
It’s sad because millions of people have a desire to “better themselves”,  have worthy goals of financial independence, freedom to spend more time with family, and provide better for their children.  Their motivations are honorable, but their lack of understanding of business, free enterprise, and finance leads to horrendous decision making.  It’s a shame that the anti capitalists got hold of control of our education system, and as a result we are producing people with an inability to identify a viable business program from a non viable one. 

[David Ramirez]

Hey @Don Konipol, 

Great post! I'm constantly responding to posts in the wholesaling forum because I want to help people set realistic expectations so they don't give up after only four months in the business. Many people view wholesaling as a desperate measure to build capital because of how it is portrayed on the internet. I actually started out flipping houses and then transitioned my business to full-time wholesaling. Wholesaling is just like any other business; you need to build systems and procedures, invest more in marketing, and constantly improve your team's sales and communication skills. It took me about seven months to get consistent deals and to identify the areas I needed to work on more, and I still do.

"They all have serious misconceptions about the time, effort, capital, expenses and ROI associated with it" This leads to people conducting business inappropriately, resulting in the negative stigma that @Katlynn Teague mentioned in her post.