Real Life Wholesaling

Wholesaling
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Real Life Wholesaling

Katlynn Teague
Real Estate Agent · Atlanta, GA · Member since 2022 · 352 posts · 219 votes

Good morning BP,

I have seen a lot of posts about people wanting to get into wholesaling. Here are some things you need to know before starting:

To preface this post, I have been wholesaling full-time for a little over a year now.

1) Wholesaling is a full-time job, you need to be able to dedicate at least 40-60 hours a week to growing your business. This is not a "get-rich-quick" occupation. The best way to describe wholesaling is trying to move a 10,000lb rock, it takes a lot of time and effort that builds and eventually, you start to move. But the second you stop putting in the effort the ball starts rolling backwards. Be ready to have lots of early mornings and late nights of working hard to see success. 

2) You have to stay consistent. This business requires consistency, time block your schedule to stay on track every day. On the days when things get tough,  you feel like you've done everything you can and you're still not seeing results KEEP PUSHING. If this was easy everyone would be doing it. A lot of people are trying but only a handful can actually build a success.

3) Master your phone pitch! You need to sound professional, put together, and trustworthy. The first interaction is so so so important.

4) ABC ALWAYS BE CLOSING! In this industry, everyone is your client. You can run across someone in the grocery store that is looking to sell their grandparent's house ect. 

I could go on, but if you are looking to get into real estate wholesaling and you have questions feel free to message me. I hope this little bit of information helps! 

Happy Investing :)

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Most Popular Reply

David Ramirez
Investor · Tampa, FL · Member since 2019 · 1k+ posts · 1k+ votes
3y

Well said @Katlynn Teague! 

Wholesaling is a sales and marketing business and Real Estate happens to be the product!

1Reply
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  • David Ramirez
    Investor · Tampa, FL · Member since 2019 · 1k+ posts · 1k+ votes
    3y

    Well said @Katlynn Teague! 

    Wholesaling is a sales and marketing business and Real Estate happens to be the product!

    1Reply
  • Kirkland Floyd
    Member since 2023 · 10 posts · 1 vote
    3y

    Awesome post.  Looking to build relationship with cash buyers in Florida.  Thanks in advance.

    0Reply
  • Kirkland Floyd
    Member since 2023 · 10 posts · 1 vote
    3y

    What methods do you use to find cash buyers? When I calculate ARV and use comps, how do I prevent a cash buyer from going to the listing agent and seller? Someone, said I should just make an offer and understand the contract time to fund and then search for a cash buyer like crazy. What's the best way?

    0Reply
  • Katlynn Teague
    OP
    Real Estate Agent · Atlanta, GA · Member since 2022 · 352 posts · 219 votes
    3y
    Quote from @Kirkland Floyd:

    Awesome post.  Looking to build relationship with cash buyers in Florida.  Thanks in advance.


     Thank you so much. I only work in the Atlanta market! I do not work in FL at this time.

    0Reply
  • Katlynn Teague
    OP
    Real Estate Agent · Atlanta, GA · Member since 2022 · 352 posts · 219 votes
    3y
    Quote from @Kirkland Floyd:

    What methods do you use to find cash buyers? When I calculate ARV and use comps, how do I prevent a cash buyer from going to the listing agent and seller? Someone, said I should just make an offer and understand the contract time to fund and then search for a cash buyer like crazy. What's the best way?


     1) Real estate meet-ups, facebook, cold calls. Really all the money is in the field. 

    2) Best way to prevent that is by buying off-market homes. Do not send deals to buyers you haven't done business with. If you don't have a property under contract anyone can go around you whether it's listed or not. Get a property under contract, then find a buyer. There is a buyer for every deal!

    0Reply
  • Katlynn Teague
    OP
    Real Estate Agent · Atlanta, GA · Member since 2022 · 352 posts · 219 votes
    3y
    Quote from @David Ramirez:

    Well said @Katlynn Teague! 

    Wholesaling is a sales and marketing business and Real Estate happens to be the product!


     Thank you and absolutely! 

    0Reply
  • Kirkland Floyd
    Member since 2023 · 10 posts · 1 vote
    3y

    Sorry to belabor. When I have my signed contract. Should I show the cash buyer how I calculated ARV and the comp properties and the max offer? Or should I leave that up to them?

    0Reply
  • Katlynn Teague
    OP
    Real Estate Agent · Atlanta, GA · Member since 2022 · 352 posts · 219 votes
    3y
    Quote from @Kirkland Floyd:

    Sorry to belabor. When I have my signed contract. Should I show the cash buyer how I calculated ARV and the comp properties and the max offer? Or should I leave that up to them?


    You should have your sales price, comps, and ARV calculated. You can send this all together to justify your sales price!

    0Reply
  • Account Closed
    Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
    2y
    Quote from @Katlynn Teague:

    Good morning BP,

    I have seen a lot of posts about people wanting to get into wholesaling. Here are some things you need to know before starting:

    To preface this post, I have been wholesaling full-time for a little over a year now.

    1) Wholesaling is a full-time job, you need to be able to dedicate at least 40-60 hours a week to growing your business. This is not a "get-rich-quick" occupation. The best way to describe wholesaling is trying to move a 10,000lb rock, it takes a lot of time and effort that builds and eventually, you start to move. But the second you stop putting in the effort the ball starts rolling backwards. Be ready to have lots of early mornings and late nights of working hard to see success. 

    2) You have to stay consistent. This business requires consistency, time block your schedule to stay on track every day. On the days when things get tough,  you feel like you've done everything you can and you're still not seeing results KEEP PUSHING. If this was easy everyone would be doing it. A lot of people are trying but only a handful can actually build a success.

    3) Master your phone pitch! You need to sound professional, put together, and trustworthy. The first interaction is so so so important.

    4) ABC ALWAYS BE CLOSING! In this industry, everyone is your client. You can run across someone in the grocery store that is looking to sell their grandparent's house ect. 

    I could go on, but if you are looking to get into real estate wholesaling and you have questions feel free to message me. I hope this little bit of information helps! 

    Happy Investing :)

    But, but, but, they make it sound so easy if you will only send them money to get their special training kit. You mean, I have to work? 

    0Reply
  • Katlynn Teague
    OP
    Real Estate Agent · Atlanta, GA · Member since 2022 · 352 posts · 219 votes
    2y
    Quote from @Account Closed:
    Quote from @Katlynn Teague:

    Good morning BP,

    I have seen a lot of posts about people wanting to get into wholesaling. Here are some things you need to know before starting:

    To preface this post, I have been wholesaling full-time for a little over a year now.

    1) Wholesaling is a full-time job, you need to be able to dedicate at least 40-60 hours a week to growing your business. This is not a "get-rich-quick" occupation. The best way to describe wholesaling is trying to move a 10,000lb rock, it takes a lot of time and effort that builds and eventually, you start to move. But the second you stop putting in the effort the ball starts rolling backwards. Be ready to have lots of early mornings and late nights of working hard to see success. 

    2) You have to stay consistent. This business requires consistency, time block your schedule to stay on track every day. On the days when things get tough,  you feel like you've done everything you can and you're still not seeing results KEEP PUSHING. If this was easy everyone would be doing it. A lot of people are trying but only a handful can actually build a success.

    3) Master your phone pitch! You need to sound professional, put together, and trustworthy. The first interaction is so so so important.

    4) ABC ALWAYS BE CLOSING! In this industry, everyone is your client. You can run across someone in the grocery store that is looking to sell their grandparent's house ect. 

    I could go on, but if you are looking to get into real estate wholesaling and you have questions feel free to message me. I hope this little bit of information helps! 

    Happy Investing :)

    But, but, but, they make it sound so easy if you will only send them money to get their special training kit. You mean, I have to work? 


     hahahah, absolutely! 

    0Reply
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