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Wholesale Inc. Training Course (5k) - Is is worth it?
I want to get started with wholesaling properties in PA. Should I take Wholesale Inc. 5k / 90 day class? Does anyone have same contracts used by wholesalers? I would assume I need two contracts 1) for the original selling 2) the contract to reassign the contract. What's the best way to build buyers list while staying honest? Looking for some help...5k on training would be a good start on other items needed to kick this off but if the training is worth it i'm all for it.
@Eric Frisch my business partner used the Wholesaling Inc training and found it very helpful for him. The guys there are fantastic so nothing bad to say. If money is the issue, maybe you could ask them to work something out with you. If you choose not to go with them, there are plenty of guides and other resources here on Bigger Pockets to help you out.
NOooooooooooooooooooooo don't spend 5k on that!! Everything you need to learn is available to you for free. Do lots of reading here on BP and watch youtube videos. Use that 5k on a targeted advertising campaign instead.
it’s totally up to you to spend the $5k or not, but I do advise you this, whatever you choose to do, FOLLOW INSTRUCTION. What do I mean? Do what you learn. Focus. Take action. Don’t quit if it doesn’t work fast, keep at it.
We joined Wholesaling Inc back in November. Why? Well, back in March or April of last year we heard the Biggerpockets Podcast #176 where they interviewed Tom Krol. Just with implementing one of the FREE strategies he gave on that podcast we closed four deals in 5 months. So we decided to join them because they obviously know their stuff if we only implemented 5% of what we learned and made quite a bit of money from it. And, when we called them we felt we fit right in. Since we joined in November we have closed two more.
Here’s your gold nugget...listen to the podcast mentioned above if you haven’t already, and if you take action you can make it work with the resources you have for free.
Now, if you want to join a family, then consider joining Wholesaling Inc. We just came back from their summit last week and met some AMAZING people there that guided us and shared their knowledge, one of them the man who answered you above, @Marvin McTaw. Unfortunately I met him at the very end when we were about to leave, but fortunately he gave me some much needed advice that has made a difference in my life already. Thank you Marvin! :)
Hope this helps you decide. Feel free to reach out and ask any questions you have, I'll be more than happy to answer!
It depends on if you want to try to learn everything through your own experience or combine the experience of several individuals who are millionaire RE investors into a 90 day course. I just joined Wholesaling Inc. on 6/11/18 so I will update my post once I get through the course. So far, it's been great, but listen to Wholesaling Inc podcast and hear for yourself, visit the website, do your research and compare programs. You can schedule a call to ask all of your questions but here are the requirements:
1. Be able to spend 15-20 hours a week working on your business
2. Have $800-$1200 a month in funds available for marketing
3. Listen to instruction and follow right away
What I love:
Everything provided to you - scripts, contracts, exclusive and best price for ListSource ($0.03 per record, you'll pay 3-4x that if you are on your own), exclusive discounts on direct mail marketing, database, how to build cash buyers list
Wholesaling Inc is a community, not just a coaching program, which sets it apart from other programs.
Didn’t even read your post besides the title and I can almost guarantee you it’s not worth it
#1 Personal Finance Contributor
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
Bet with Opendoor hitting wholesalers with $364B in buying power, there will soon be a discount on this 'program'.
No way should you do this. Who'd pay $5k to get a low probability JOB? I can deliver pizzas and make more with no up front 'investment'.
Steve Vaughan these wholesaler/house flipping guru programs remind me of all the mlm crap I get messaged about on LinkedIn.
I tried one of those once and I’ve never learned faster in my life what a waste of time that is. I then quit that and found REI. Both my wallet, my net worth and my girlfriend (because I have more time) all thank me.
The really sad thing about these programs, MLM included is the types of people they rope in the most often are often the ones with the most to lose and those that don’t have a spare 5k or whatever lying around
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
Originally posted by @Caleb Heimsoth:The really sad thing about these programs, MLM included is the types of people they rope in the most often are often the ones with the most to lose and those that don’t have a spare 5k or whatever lying around
Amen. The broke getting more broke. Broker? "Here, you don't have enough financial stress. Let's put this $5,000 on your credit card. No wait, the platinum level is $35,000. Let's call those cards and get your limits increased first..."
There are no shortcuts in RE. Shortcuts cost in multiple ways and leave a wake of wreckage.
Steve Vaughan the only shortcut is if you inherit a bunch of money. Lol
What I gathered from this fourm is the the people who has done it or know someone who has been a part of wholesaling INC found it to be worth the investment. The negative reviews are from people who hasn't been through the program. So I'm going to try it out. And post up my experience.
Not saying one way or another if you should do the class but I will say I have listened to a lot of the BP Pods and Tom Krol's is one of the few guests who also offers a class/service and there is probably a reason BP picked him and have very rarely had on other people who offer the same classes. Now I don't know details on the program, or if it was running back when the podcast aired but might be something to think about.
Hi @Eric Frisch I'm new to BP and I came across your post from 7 months ago. I was wondering what you decided to do and how is your decision working out for you.
curious @Account Closed if you have any updates on the course?
Likewise @Account Closed ... would love to hear an update!
Hi all,
Wanted to keep this short but this is my comprehensive review. Some people on this thread are knocking wholesaling and comparing to MLM, more deals for me :)
1. Define your goals and your why - why do you want to wholesale? Are you going to commit to it even when it's tough and you are losing money or not making any money or breaking even? Do you care about helping people or just making money or have you found a way to fuse the two together in harmony? For me I decided to do real estate to escape the 9-5 with the goal of building a massive rental portfolio. Plus, all deals are found through marketing to sellers and wholesaling is the beginning of any good RE deal so I can cherry pick my wholesale deals and get the best deals on rentals. Wholesaling is a cash machine if you know how it works and how to systematize it. I also love helping people and that's what wholesaling is all about. The more you give, the more you get.
2. If you are committed and ready to start wholesaling, why reinvent the wheel? I work a 9-5 job as a data analyst and I don't have time to create my own wholesaling model. I joined Sean Terry's course in January 2018 for $500 and it was a good introduction, but there's not much of a community aspect to it IMO. I joined their FB group and never got any help with my questions. I joined WI in June and found the community incredibly kind, giving, friendly, helpful, and genuine. I really got my marketing going in July and already I have 4 deals under contract. I am working on closing one next week and another one 2 weeks later for a total of $7,000, so I have more than paid for the course and broke even on my marketing at that point. With the 2 other deals I should make another $10-$12k so then I'm profitable. Successful people learn from models and BP in and of itself is a community of people trying to learn the best models for how to do things, so WI takes it to the next level and provides 1 on 1 coaching to get you to your goals faster. There are no shortcuts as someone mentioned above, but there are proven and successful models you can follow to cut the learning curve and take more action faster to get your 1st deal or more deals done using proven systems. Wholesaling is probably one of the easiest niches of real estate to get into, it's very simple (even I can do it).
3. Access to the best discount on ListSource available - I will save over the course of my wholesaling career many times over the $5,500 for the program on ListSource ALONE - WI has an exclusive discount for $0.03 a record. You will pay $0.15 a record on your own.
4. Access to discounts from mail vendor - more savings that will pay for the course in my wholesaling career. Exclusive Modern Postcard discount. The give you the mail piece. Time is money, why would you create your own mail piece? It's not the highest and best use of your time.
5. Character building - The 4 Spiritual Laws of Prosperity is the 1st book you must read in WI and it builds a foundation for the why behind your business, your goals on the principle of tithing. Once I started tithing, the deals came in, say what you want, but all WI successful wholesalers will back me up. 1 on 1 coaching during the course to help you overcome psychological barriers to success.
6. Coaching – weekly coaching calls with the coaches to ask as many questions as you want. Amazing community forum where you can ask any other questions between calls and get access to other successful wholesalers resources asap. Semiannual events to get to know others from WI from around the country and learn new techniques to drive your business forward.
7. Baby steps to your first deal – you will learn the lists, the frequency to send, they will give you the mail piece, and show you how to do everything step by step. Anyone can do this. If you want to master direct mail I these guys are killing it doing over $1MM a year in deals consistently all over the country.
8. Lead management – baby steps to setup your database, callrail, and other tools to manage your leads. Profit first is the goal and getting to your 1st deal is #1 priority here.
9. Building a huge cash buyer list – the more cash buyers the better. The more cash buyers the bigger your assignment and the faster you can sell your contract. Baby steps on how to build your cash buyer list and sell the contract.
10. Scaling up – they will show you how to hire your virtual assistant and start building your team once you are consistently doing deals each month.
There is no magic sauce to wholesaling but I honestly believe the $5,500 I spent cut at least 2 years off my learning curve, especially since I work full time. I didn’t sell my computer, it’s actually not worth anything (it's 11 years old). But I did put everything on credit cards believing that this works, and it did. You can listen to the podcasts enough to probably get some deals done and there are some people in WI who have done that. I think that’s amazing. Some people need a little more coaching and help than others, I think I fall into that category.
I don’t know of anyone who bought the course and didn’t succeed, I think paying $5,500 is a gut check and no one wants to throw away that kind of money. I’m 29 years old and I plan on making a lot of money wholesaling while helping a lot of people so to me the $5,500 isn’t that much for what I got in return. This is real, tangible, step by step coaching to doing deals and making real money. I am still not even done with my first mailing to 9,000 tax delinquents and I get leads coming in every week that I am converting to contracts and selling those contracts. The only way I’ve been able to do this is through the systems I was taught to setup that take all the guesswork out of wholesaling. Each week I get faster and faster at doing each thing. I probably spend 20+ hours wholesaling in addition to my 40 hour a week job, but I am very driven, so it’s up to you. Listen to the podcast and see if you want to surround yourself with these guys and be sure to listen to the newbie wholesaler episodes so that you can begin to see that success for yourself. Some of us believe we can’t achieve success or do this for some reason and that prevents us from being successful. More of this is mental than anything else – it’s 80% mental and 20% mechanics.
There is an entire page on the WI website with testimonials from real people. The same people that are on the coaching calls an who have started to lead some of the weekly calls for beginners. I'm not getting paid to say any of this, I actually just hope people here consider WI because it has changed my life, personally. My wife and I have 5 rental properties which I love, but I am cash-poor and as I mentioned earlier, the marketing I'm doing with wholesaling is getting me access to the best possible deals in my market, so it kills 2 birds.
If you want to talk more on the phone please DM me but I think I covered everything here in detail.
PS
I didn’t even mention TTP: Talk to People. This course is $3,000 when bought with the $5,500 version of the full course and shows you how to take your lists from ListSource and skip trace these people with the best and cheapest skip tracing source $0.18 a lead and to cold call motivated sellers on your timeline. Just go to wholesalinginc.com/ttp if you want to hear about that, I am still ramping that part of my business up, but I have been focused on mastering direct mail in the meantime until I have more time to start cold calling. If you want to spend less and do cold calling I'd recommend TTP as it'll probably get you a deal faster if you are determined and have enough time to cold call every single day.
@Pratik P. I agree with Pratik! There is so much information on Youtube and here on BP's. Go to local REI groups, network, and learn from the people actually doing what you want to do!
@Account Closed I am considering this at the moment. I understand that all this information is free, and that I can learn it on my own as previous people have mentioned, but as you said it cuts down massively on the learning curve. This is where the value exists.
Do I want to take a considerable amount of time to learn the steps on my own and probably screw up or do I want it all organized in one source. That's actually what I am paying for. Is $5500 really that much to everyone? $5500 might seem like a lot of money if you're focused on that dollar amount, but what is the potential of that $5500? What can I turn that $5500 into if I follow this course?
I totally agree with @Account Closed......Why not do both. I've been watching YouTube videos, BP, going to local REIA meetings and it's going good but very very slow. So I'm also considering taking the course mentioned above. Getting everything I need all under one roof sounds great. Getting guidance/mentored is the way I learn best. So thanks Jake for your feedback.
@David Oldenburg - That's part of the problem. There is too much information without instruction. You need a mentor to show you step by step. Doesn't have to be Wholesaling Inc. find someone who's crushing it in your local market and ask them to show you how to wholesale even if it means they take a percentage of your first x deals. Either way you're paying for education. $5,500 to me is chump change - my wife pays that for two grad level classes with 0 return on investment. She has to get a master's to get a raise and that degree costs $30k, so that puts it in perspective for me.
There's no limit to what you can earn in wholesaling or real estate. If you follow instruction you should be able to make that $5,500 back in a few months at most. I don't work for WI, I like these guys a lot, but there are probably equal programs out there. I know successful wholesalers who mentored under someone in their market, gave a percentage of some of their deals up and now they do it full time and make a lot of money. If the $5,500 is a lot, I'd suggest the second route of mentoring under a successful wholesaler who you can ask all your questions.
Gary Keller says in The One Thing that you need a mentor regardless, it all depends who you'll choose to follow. You probably could cobble together enough instruction from the internet to wholesale on your own, I just don't have that kind of time. Plus, the internet offers 0 accountability, which Gary Keller also mentions as a key to achieving your goals.
@Account Closed I don't disagree that it makes sense to sometimes pay for a mentor or education. I teach virtually everything you can learn in a course for free in my meetings, but most people do not live in my area. I also believe that you need to be "hands on" to learn.
Over the summer I did a group flip with my 1,450 member group and I taught people in the home, hands on, how to do the work and make the crucial decisions in a flip. There were a lot of people who said it was the first time they ever "got it" and finally felt comfortable taking on a flip on their own. I did this for free, but made a quick $50,000 profit when I sold the home.
For some a mentor is going to be their best way to learn and build confidence. If they have the money and want to pay someone for their knowledge, I see nothing wrong with it. I am asked all the time to speak about wholesaling and flipping, and I too may someday offer more for a price. Good luck!
Any updates from those who were thinking of signing up with Wholesale Inc? I'm in the Tampa, FL area and stuck on analysis paralysis. Too many variations on the wholesaling method. I'm definitely thinking of taking on WI.
Send me an IM if you care to share you experience/advice. Hindsight is always 20/20
Hi @Leonel Rodriguez I’m considering joining myself at the beginning of the year. However in the meantime I’ve been checking out Tom Krol’s podcast and receiving daily emails about Wholesales. They’re very helpful.
What contracts do you guys use? I’m having a lot of trouble finding them online