What's the Toughest Part About Wholesaling?

[Account Closed]

Wholesalers, I'm curious to know - what's your biggest challenge when it comes to the wholesaling process? In detail, what's been the most frustrating part of wholesaling? Wholesalers at any stage of their journey are welcome to respond; I may be able to help. 

[Jay Hinrichs]

From what I see and I guess we wholesale but we close first then resell.. 

but for those that are basically acting like brokers.. I think the toughest thing is your doing it on an island.. ergo only very very few make it work..  you need so many skills and you need some pretty good money to market and you need the time to do it all while your making no money or getting started..  

those that I know in the industry that are making some big money have fully vertically integrated companies spending 10 to 50k a month or MORE just on marketing..  that's a lot of bread to get the leads.. so you need tons of seed capital.

those that have little to no marketing money to start .. pretty tough unless you bag a deal right out of the gate to keep you going.

its the same for real estate agents getting started in that industry.. when  I had my shops and interviewed new licensed agents it was something we talked about.. you need ONE years of living expenses in the bank to even think about starting in this business.. same with wholesaling.. to try to do it with no money while it can be done .. flame out is virtually assured because of lack of capital in your small business. 

This is why a lot of Real estate brokerage business is dominated by Women who have spouses that support them in the start up phase..