The best wholesaling course, book, video... anyone?

[Elvis Occ]

I am quite interested in the wholesaling business and there are so many "gurus" selling some type of "get rich quick" seminar out there that I had to ask here. I would certainly appreciate all the help.

[Bill Gulley]

Well, I've done straw transactions before some guru gave this aspect the name wholesaling, it's pretty simple as a process. The issue is that it is not a simple business to really be in exclusively in most markets. The other issue, is the way this strategy is sold by the gurus or others who hook on to others to facilitate deals, is that you really need to know much more about RE than they tell you to do it well.

So, saying what book on wholesaling, I'd disagree that one exists as you really need to know real estate, markets, valuations, rehab costs as well as the business your buyer is in to determine what a good deal really is. Most seem to run around as a birddog mainly, find something and then see if it fits some buyer's needs, in many if not most cases, you need to know if it fits a good business niche before you mess with it.

My suggestion is always learn real estate first, not marketing ploys concerning real estate.

Reminds of a rag merchant in a clothing store, the kid selling the suit, he'll grab the small of your back and fit the suit to you as you try it on, look in the mirror and....dang, that looks good, fits well. The kid knows nothing about the material, how it was constructed or about how it might perform if you get caught in the rain, but that's not his concern, he just makes you look good in that mirror. Pretty much why I don't see rag salesmen for a suit and I'll go to a tailor!

So, if you're really interested in RE, I'd suggest you start with RE, when you get that under your belt in about 2 weeks, figuring out wholesaling will be pretty elementary and you can move on to look for all kinds of opportunities instead of being a one trick pony as Brian Gibbons calls it. :)