Starting Wholesaling...First Deal...Mentor?

Question

Hello,

My partner and I are starting our real estate investing careers and thought it would be a good idea to start off with wholesaling to build cash/experience. We have no prior experience with this and I was wondering if anyone would be willing to help us out on securing our first deal? We thought the best way for us to start out is by looking into local probates through our nearby courthouse online which is in Media, PA. [Solicitation Removed by Moderators]. Could you please send ways to find buyers, or ways to identify the more potential sellers, etc. Or if anyone has any tips on wholesaling in PA, and the Do's and Don'ts. Thank you!

Jerryll Noorden · Answer

Here is my opinion.

Wholesaling is getting a house under contract at discounted price and then assigning that contract to a cash buyer.

YOU DO NOT NEED A MENTOR to put  your name on a piece of paper and then selling that piece of paper.

And especially lately, I have been going hardcore on these damn YouTube influencers and gurus behinds calling them out.

Do you know what they teach you? CRAP.

Let me tell you about wholesaling my friend.

The key to wholesaling (and ANYTHING REI related) is your ability to find off market motivated seller leads. PERIOD!!!

That is IT.

You need to learn marketing to do wholesaling.,

So what do all these UGLY GAADAMN YouTube influencers teach you?

Driving for dollars, door knocking DMM, Bandit friggin signs!

Listen to me carefully. Not because you (YES YOU, you damn YouTube influencers) have 300K followers does it mean what ever BS you are spitting out is correct. Listen to my saying..

Not because 15 close agree on something does it mean that what they agree on is correct.

Wholesaling is chickenpoop when you have an amazing deal under contract yes? Every cash buyer will kill to get that contract assigned to them. So wholesaling is all about your ability to generate leads. You do not need a course or a mentor on wholesaling.

You need to figure out lead generation, and no offence.. well actually.. YES offence to all you Youtube influencers out there.. You have not a stinking clue how to get motivated seller leads.

I see all these videos on "67 ways to find off market motivated seller leads". You damn nimkampoop. It is NOT about the millions of ways you can "possibly" find a motivated seller... it is about that ONE SINGLE method that actually works!! (SEO ahem cough cough).

Or

"FREE motivated sellers.. here's how"...

and then they will tell you to go to the elderly home and sit next to their deathbed trying to get their house under contract. I kid you not, I saw one of them freaks make a video on that.

Or.. go to your clerks office and pull this list and that list "for free". NO you clown it is NOT free... your time is NOT free.. it is insulting to even insinuate your time is free.

How much time do you spend on getting these lists? A lot.

My time is worth A LOT!! Believe me!

Listen to me all.

If you want to become successful the first thing you need to do is unsubscribe from ALL these people you are following on YouTube. Seriously. If you can not manage to do it, it LITERALLY means you are addicted to BS advice!

Start thinking, analyzing using logic.

So my friend... stop looking for a mentor, and start learnign how to generate leads.

And just an FYI.. this is what the funnel looks like of someone that actually knows lead generation.

All free, all organic, never  lift a finger! (well maybe just to click on the lead to see the info)

Remember I did this for free.. so YOU can do this for free!

Just be smart and invest your time and effort into getting the RIGHT lead generation strategy mastered.

NO to Wholesaling mentors!.. because they themselves are friggin driving for dollars, doorknocking and placing bandit signs! Disgusting!

Will Barnard · Answer

That is one of many ways to wholesale. Wholesaling RE is the act of finding a deal, locking the deal, and then selling the deal without doing any work to the house. Assigning the contract is just one way.

As far as your original question, Jerryll answered that. You don't need a mentor to wholesale, you need to learn your market (so you know what the values are and what to offer potential motivated sellers), you need to know the best ways to market to motivated sellers, and you need to know the legal ways to execute the transaction. All of that can be learned right here on BP from other members who have posted in great detail on this topic.