New to wholesale real estate in what direction should I start??

[Paul Moorer]

Hello wholesale world!! Sorry if that’s corny but I’m new to wholesale and I’m absolutely obsessed! I want to know the ins and outs if any pros want to spread some knowledge.

I’ve been doing my homework learning what I can from bp and YouTube books things like that. I adapt quickly and learn quickly also! Not looking for a mentor or anything (not ready for that I don’t think) but any knowledge and comments will do thanks world!!

[James Wise]

Originally posted by @Paul Moorer:

Hello wholesale world!! Sorry if that’s corny but I’m new to wholesale and I’m absolutely obsessed! I want to know the ins and outs if any pros want to spread some knowledge.

I’ve been doing my homework learning what I can from bp and YouTube books things like that. I adapt quickly and learn quickly also! Not looking for a mentor or anything (not ready for that I don’t think) but any knowledge and comments will do thanks world!!

Wholesaling as it's taught is a myth. You need a license to Broker real estate. That's all wholesaling is as it's taught in these programs, it's brokering real estate except instead of being up front & telling the distressed seller that you'll sell their property for X amount & take X amount as your commission / fee you are taught to lie to the seller & pretend you are going to buy the property while you secretly attempt to "assign" your contract.

It doesn't work. Nobody has any respect for wholesalers. The only people making money wholesaling are the guys selling you all of that education.

To be successful connecting buyers and sellers you need to have

• An in depth knowledge of the market.
• Marketing skills.
  
• Sales skills.
• Negotiation skills.
• Accurately estimate rehab costs.
• Understand how to much time it would cost to run a renovation on the properties you are presenting.

My advice get a real estate license. Way cheaper, no legal issues, more respect and there is a decent chunk of cheap or free training out there from the mega brokerages. Soak it all in while you're trying to get off the ground. It's not an easy job, 90% fail rate but it's better than the 99.9% "wholesaler" fail rate.