Wholesale 101....Brain Surgery... or just not connecting the dots

[Remy Balogun]

I attended local networking event on Wholesale 101 last night. A very good networking event in my opinion, the presenters appear to be very knowledgeable and all on top of their games. They offered great ideas and tips on how to get started on Wholesaling, i.e. Where to find deals; buy cheap, focus on the buyers, the importance of marketing etc...  etc...... 

The event was very informative and the presenters made the Wholesaling process appear very easy, probably to get everyone motivated.

The problem for me however, is that while I do get the concept, there is still a disconnect between what I think I know and what it takes to do a deal.  Even after this “Anatomy of Wholesale” event, the process still feels like brain surgery, I am not just connecting the dots.   My gut tells me that we have not even began to scratch the surface in this two hour session let alone be ready for deals, yet that is how most of these guys presumably got started.  I suspect that some of the other attendees in the room felt the same way as I did but just wouldn't say because ta presenter mentioned a couple times in the presentation that one can actually start putting a deal together right away and was even willing to add people to his  list.

Of course, I am still going to do more research, however I’d like to start with the best brains in the business.

My questions to all of you veterans in the business are as follows::

Is wholesaling as easy as it seems?

What does it really takes to start?

How was your experience getting started? What would you have done differently and;

What are the critical success factors or pitfalls in wholesaling?

Thank you for sharing.

[Brandon Kargol]

Okay, while I do not consider myself a veteran of wholesaling... I do know what it takes to get started. I feel for you as well, cause I had similar feelings about beginning in wholesaling. Remember this, wholesaling is SIMPLE, but NOT easy. Whats this mean? It means that the concept of wholesaling is very basic and easily understood, but being successful and effective in the niche is not something everyone can do.

Is it easy to send out letters? (yes)
Is it easy to track leads? (not for everyone)
Is it easy to return calls? (not for everyone)
how about negotiating with sellers and buyers? (not for everyone)

These are just a few things encountered with wholesaling, yet I know for a fact that not EVERYONE can do those things like the gurus say. Some people can't get over the fear of calling people, some people lack the negotioation skills which is a MUST HAVE in this business. If you have a fobia of talking with strangers and building a relationship on the spot then wholesaling isn't going to be easy at all. Sorry but that's the truth. You here the gurus say "oh just get over your fears" or "if you want it bad enough then you'll do it and succeed" Everyone who starts will at some point fall into those qoutes from the gurus. There will be SOMETHING that just isn't easy for you to do. Just push past it though. Even if you stumble and fall along the way to your first deal then guess what, you'll be just that much more knowledgeable for your next deal!

Sorry I rambled a bit. Hope this was helpful!