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Updated over 3 years ago on . Most recent reply

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Chris Gavre
  • Real Estate Agent
  • Greenville, SC
9
Votes |
25
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When you feel like giving up?

Chris Gavre
  • Real Estate Agent
  • Greenville, SC
Posted

Hey guys. Need your help here. I'm 22, and have been doing a little bit of wholesaling. I got my realtor license back in November, decided it wasn't for me in March after I got my first 2 wholesale deals. I closed both of them, I currently own 13 rental doors, and am flipping 2 houses. However, I find myself in a place where I'm wondering if I'm wasting my time with wholesaling. I spend a lot of time cold-calling, however, I feel like I'm not getting many deals. I'm about to have another one under contract to wholesale which I may make 5k on.

My long-term play is to generate income through a business, multiply the income by flipping a house or 2, then buy another rental with it. I just feel stuck and like I'm spinning my tires. How do you guys cope with this? Am I better off starting another business venture to generate income, or is wholesaling actually a profitable business model? I have virtually no overhead besides skiptracing and my mojo dialer.

Most Popular Reply

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5,788
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8,973
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Don Konipol
#4 All Forums Contributor
  • Lender
  • The Woodlands, TX
8,973
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5,788
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Don Konipol
#4 All Forums Contributor
  • Lender
  • The Woodlands, TX
Replied

@Chris Gavre

You are not spinning your wheels; you’re actually doing amazingly well! I think the problem is that your of an age where people expect instant results. And sometimes it’s attainable. But often patience, persistence and follow through lead to a lasting success.

Now, specifically, wholesaling relatively low profit properties may not be the best use of your time. There are a number of solutions to this problem

1. Wholesale higher end properties with greater spreads between purchase contract price and flip price

2. Wholesale commercial real estate

3. Automate your wholesaling process by using a combination of technology, virtual assistants, and contractors to do the repetitive tasks

4. Move away from wholesaling all together, and concentrate on a more lucrative aspect of real estate, where your expertise can still be put to good use, such as

A. Syndication

B. Crowd Funding

C. Commercial property investment

D. Non performing bank notes

E. Portfolio of STRs

F. REITs

G. Niche Real Estate - Cell Towers, RV parks, Storage, Parking lots,

F. Build to Suit for Service Franchisees

And many more areas of real property I haven’t mentioned

  • Don Konipol
business profile image
Private Mortgage Financing Partners, LLC

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