Curious About Wholesaling

[Haven Ousley]

Greetings good people. I was curious about wholesaling and just wanted to see if any one with experience wouldn't mind sharing about it. From the looks of it, it seems to be a very good way to learn more hands on with real estate while making some profits in the meantime. Anyone familiar with it, please share some pros and cons along with things that you didn't find out until you began wholesaling. 

[Duane Alexander]

Originally posted by @Haven Ousley:

Greetings good people. I was curious about wholesaling and just wanted to see if any one with experience wouldn't mind sharing about it. From the looks of it, it seems to be a very good way to learn more hands on with real estate while making some profits in the meantime. Anyone familiar with it, please share some pros and cons along with things that you didn't find out until you began wholesaling. 

Pros - You can make a ton of money doing this. I was able to retire a great corporate job after wholesaling consistently for 5 months. 90% of what wholesaling is, is building a deal pipeline. Once you build this pipeline you can literally do anything you want to in real estate. I have 9 houses under contract right now and I can either wholesale every single one, or rent a few, flip a few, owner finance a few, etc. etc. Endless options. 

Cons - It is NOT easy. You are in the business of solving people's problems. The only way you will be able to acquire properties with enough meat on the bone for you and your end buyer is to solve a problem for the home owner that cannot be solved by listing their property on the market. Otherwise it makes way more sense for that seller to list their property on the market. Solving people's problems is a very tedious job. Marketing and finding these people with problems is also not easy. You can talk to 1500 people who have some interest in selling and only 1 or 2 of those will have a problem for you to solve, such that selling to you at a number that makes sense as an investment would be better for them than selling on the market. That means you must get in contact with and hear 1498-1499 NO'S before getting to those 1 or 2 yesses. Most people cannot handle that kind of a grind and it can also be expensive. Which is why most wholesalers are not successful.