Only 1 way to learn wholesaling?

Question

What are some options to learning how to wholesale?  I've. Gotten some calls from people in obvious sales boiler rooms and it puts me off a bit. Are there jobs in this niche where I could learn through the teachings of someone with a lot of experience in the area or do you have to buy some system and go it alone?

Ryan Webber · Answer

Chris, the best way to learn to wholesale, outside of an experienced mentor holding your hand, is to spend a week or two reading through the Wholesaling Forum and other related posts here on Bigger Pockets.

You have 24 hour access right here to experienced investors who are more than willing to give you their insight.

Demos Loizides · Answer

In Sep 07, I wanted to know about real estate investing, because my 401K wasn't doing as well as in previous years. I read a book by John Schaub which discussed real estate investing in a changing market. It was published that year, which was important because I knew the market was changing. At that time, I was a bookkeeper/office administrator for a mortgage broker. I knew first hand how the market was changing. John Schaub talked about buying one house per year for cash flow and keeping them at least until their values doubled.

John Schaub's book mentioned preforeclosures in one of the chapters, so I bought another book by Alexis McGee which was more than 200 pages on being a white knight and buying preforeclosures. I was already a member of her preforeclosure listing site. Out of more than 200 pages in her book, there was a half page that talked about one of her students doing a contract assignment. I was hooked on the concept.

Then I read some books by Peter Conti who was really big on lease options and I was member of his insiders club for a year. However, I never got real excited about lease options. I did like his humble way of teaching. He didn't come across as a slick salesperson. I'm using some of his marketing techniques. I have materials from Ron LeGrand, Preston Ely and Mike Collins (all well known in the wholesaling community).

I also joined and participate on Bigger Pockets and other similar sites every day. I spend more time on Bigger Pockets because there's so many more forum postings on here compared to the other sites.

Brian Haskins · Answer

There are no jobs that would teach you to wholesale. You could try bird dogging. You could also ask if you help other wholesalers in your area for free to learn but most people wont let you. Wholesaling is a simple process and there isn't to much to learn, it just takes some hard work to get the leads coming in. I would find a course you like and purchase it so you learn the basics and then get to work on it.

Brian Haskins

Matt Rosen · Answer

Chris, there is a wealth of information here on BP. Some ideas you may want to run with is read all the articles on wholesaling. Write down specific take-aways from each one.

Just as Ryan said, you have access to real life people that can help you for free. 
Run a search on:
Ryan Webber, 
Eric Medemar, 
Andrew Massaro,
Jason Hanson
To name just a few to the thousands here that can help.
Good luck, Matt

Steve Babiak · Answer

Search the forums for that particular company; I recall that there was at least one thread with posts that were unfavorable - so see for yourself.  You might want to stay away from them, based on what you posted previously ...

Chris Mccoy · Answer

another thing...Have you heard of Americo?  They have some deal about buying their teaching materials for 500 bucks and doing deals through them.  I want to stay away from scams but am interested in wholesaling.  Chris

Chris Mccoy · Answer

Wow, Thank you so much Demos...I'm going to go to Amazon right now and find the books you spoke of.  Its really kind of you to take the time to respond.  I hope you don't mind if I ask some questions of you in the future.  Thanks again..Sincerely, Chris McCoy

Demos Loizides · Answer

You could find a local mentor or learn what you can from books, audio, video, this site and others like it and get going on your own.

You can also see what a local REI club has to offer.

Chris Mccoy · Answer

Thanks for replying. Could you tell me how you started?  I feel like it's such a fine line between right and wrong.

Only 1 way to learn wholesaling?

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