I'm hitting a wall

[Gary Josephs]

I'm a newbie with real estate investing. I've been at for a couple of months and I already feel like I've hit a wall.

I've tried some unconventional ways to attract and find motivated sellers and buyers but all that I have been able to come across is other wholesalers looking connect. I'm not deterred by this because I know networking is KEY in this industry, but it just seems that I'm on the sideline just watching the game go on instead participating.

Some of this may be my own doing, because at this moment I have been able to market the traditional ways like bandit signs, purchasing sellers, and conducting a mass mailing campaign. I'm pretty cash strapped, working from 9 - 5, living paycheck to paycheck and I've had to become creative (cheap) with my marketing. I have left business cards at local shops, created multiple posted on craigslist, commented in real-estate forums, and even used fiverr for some marketing.

So to wrap this up, does anyone have an ideas on how I can get past this hurdle and get in the game or even better, find a mentor who would be willing to help get past this "wall"

Sincerely

Gary 

[Jon Holdman]

I disagree that networking is the key to wholesaling.  If you have a deal finding a buyer is not that difficult.  Finding the sellers is the tough part.  You have to find desperate sellers who are willing to take a beating on the sale of their house.  So your efforts have to be focused on finding those sellers.  That means marketing and that's really the key.

I do occasionally attend seminars.  I went to one a few months ago put on by some local folks.   A few of the presenters are wholesalers/fix and flippers.  They do extensive marketing to generate deals.  Both mentioned they spend about $10K a month on marketing.  They keep the good deals for themselves.  The wholesale the lesser deals.  By doing both fix and flipping and wholesaling they are in a much better position to evaluate deals.  They know values.  They know rehab costs.  So they know if a deal is profitable or not.

No matter what the gurus say wholesaling is a job.  Its a commissioned sales job.  That means you can put in a bunch of time, effort, and money and never get paid a cent.  Are you sure this is the right second job for you?  As you're finding, its not easy, cheap, nor quick.  Maybe there are other second jobs that are a better fit for your available time and skills.