RE AGENT VS. WHOLESALER

[Lauren Patrick]

Hello BP fam!

I'm Lauren from Houston, TX and I'm fairly new to the site, let alone investing. A little educational background on myself, I'm an undergrad student majoring in psychology with a minor in marketing and also a Champions School of Real Estate student. I've completed all of the courses mandatory to be able to take my licensing exams though I'm hesitant to go through with it. Reason being: I've been researching wholesaling for the past couple of weeks and it's seemed to really peak my interest. I believe there would be a conflict of interest if I was to sign with a broker and attempt to wholesale. Any thoughts or suggestions on the RE agent and wholesaler dynamic?

Also, when kick starting a wholesaling business what are some of the key components I should focus on? I'm sure it'll be something along the lines of:

1) Marketing

2) Leads

3) And more leads

but I'd like to hear other people's opinions. I'm also open to meeting up in the Houston area to chat more in depth over coffee, my treat! I look forward to hearing from you guys, thanks in advance!

[John Thedford]

@Lauren Patrick

free tip: get licensed. Buy the great deals, list the others. You would be surprised at the people that will take a low offer to sell today rather than list and wait for more money. If you offer to buy for "x" or list for "y" you are being completely honest with the sellers. Here was one of my deals: seller advertised a house for 135K. I offered to list at 159K and it would have sold for very near that. I also offered to buy for 120K. He took the 120K and we are friends today and doing other deals together. He wanted it gone TODAY---and gave me 40K FREE equity. TODAY it is worth $235K.  I just bought another one for 145K worth over 200K. I offered to list it for 200K...but he was so close to losing everything he took the 145K and leased it back from me. I could have made maybe 20K-30K before my brokers cut by assigning...but WHY? I now have another asset making me over 10K a year in my pocket each and every year. The majority of "wholesalers" are out of the business within a few months. Go where the money IS...not the guru land of milk and honey.