Wholesale real estate

[Gaoshua Williams]

What are some suggestions in getting started with the subject at hand? Any tips or potential mentor ships?

Really interested in this.

[Don Konipol]

@Abel Curiel

Hi Abel

Since you seem to be new to this area, I will share some basics with you.

Most wanna be wholesalers fail because they think and act like wholesaling real estate is investing. IT IS NOT. Wholesaling real property is a business, with almost no similarity to investing.

Why is this important? Because of the mindset of the real property wholesaler. Investing consists of a few limited areas of expertise and action. For example, I can be successful as an investor without a great deal of knowledge about marketing, sales, prospecting, operations, organization, personnel, delegating and management. It might be beneficial for me as an investor to have knowledge and expertise in these areas, but it’s not critical, as these are not core to investing. As an investor my ability to analyze deal flow, and generate deal flow, and possibly negotiate (active investor vs passive investor) are core to my success.

Since wholesaling is a business, all of the above skills and expertise contribute to your success, or lack of to failure. Time management, ability to prioritize, cost analysis, data analytics are nowadays becoming more crucial for success in any business.

That’s why semi baked, part time attempts at wholesaling ( mailing 500 postcards, placing 50bandit signs, cold calling 20 drive bys) is rarely successful. Just like any startup business it takes general business knowledge as well as specific product know.edge to create a successful enterprise.