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All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 181 times.

Post: Selling my Wholesale Business...need advice

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38

Jerry Puckett, I'm not sure what you mean when you say "you're starting to sound like a guru." I'm just giving Chris my opinion on what I would do if I were in his situation. He asked for opinions and I gave him mine.

Chris Speights if you think wholesaling is 95% equity, that means you're trying to do everything yourself (which, yes, might as well be a 9-5 job.) Why not start automating some of the processes that can be automated? Hire one or a few people so you can outsource some of the non-value added work. That will free up more of your time so you can work on the aspects of your business that really matter and will actually grow your business.

Post: Selling my Wholesale Business...need advice

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38

Why would you want to sell, just to work at a JOB for someone else the rest of your life? I'm not trying to be rude but don't you want to work for yourself in YOUR wholesale business?

Why not just quit your job and work at your wholesale business full time? You can make a lot more money doing that than you could at any job.

Just a thought.

Post: helping other people succeed

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38
Originally posted by Kyle J.:
Obviously you can look at it both ways since you could always find reasons to help someone, or not to help someone, if you want to. Personally, I prefer to help others anytime I can because I believe in the "abundance mentality". I think that there will always be enough deals/opportunities to go around, and the more I help others than the more they are likely to help me someday.

No matter how much I think I know, there will always be things that I don't know. And maybe, someone who I previously helped will be able to return the favor and provide the information/experience I'm lacking in.

Well put Kyle J. I couldn't have said it better myself!

Post: helping other people succeed

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38

Joel Owens, well said my man. It's all a learning experience. You learn by teaching others just as you learn by teaching yourself.

Post: helping other people succeed

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38
Originally posted by Ryan Webber:
Ok, so I'm going to be the dissenter here, because I've mentored up my competition before and experienced them taking deals directly out of my hands. We are talking tens of thousands of dollars taken right out of my pocket, and it SUCKS. And it was nothing to do with integrity issues, but I was bidding (and lost) against someone I mentored. Someone who would not have been bidding against me if I hadn't helped him. Its a small town where I live. In my town of 200,000 people there ARE a limited number of deals to go around. If my main competition does 50 houses a year and I do 50 a year and a couple other guys do 30 a year and then a handful of newbies come around trying to do 50 a year, eventually the well drys up.

I used to be all Pollyanna about it, but now I've come to the conclusion that resources are limited. Yes, I agree with J's $.02 that the vast majority of newbies will not do what it takes or grab a hold of the information, but when they do grab a hold of it in your own little backyard, it can suck. Maybe it will all pay off down the road, but in the meantime I'm only mentoring wholesalers in other markets.

Having a scarcity mentality will not get you very far in this business. The fact is that there ARE an unlimited amount of deals out there. There will always be motivated sellers in distressed situations looking to sell ASAP. If you are in a small market, start expanding outward to other markets. Virtual wholesaling is not as hard as it seems (and actually, much more convenient once you know how to do it!)

You should be proud of the fact that you were able to groom another person into being a successful wholesaler. It WILL pay off 10 fold in the future. You may not see it now, but the people you help now, will pay it back to you many times over in the future, some way, somehow.

Post: helping other people succeed

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38

Great point Brian Hoyt. Helping others is the greatest learning experience. I've learned more teaching real estate wholesaling to others, that I could have ever learned reading all the books and listening to all the courses in the world!

Post: helping other people succeed

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38

Alex E. you have it all backwards. The market will never become saturated because there are more deals out there than we all know about.

When you help someone out, you are giving. Once someone gives, someone else has to receive. There is no receiving without giving. Therefore, the more you give the more you will receive. Maybe not directly and maybe not instantly but "what goes around, comes around." I live my life by this everyday and have personally witnessed its powers.

Try it sometime and see how it works for you!

Post: BiggerPockets Makes My Day

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38

Michael Quarles, agreed! This site just gives me a huge burst of energy everytime I log on or check my monitored topics. Thanx Joshua Dorkin!

Post: What is your favorite thing about Real Estate?

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38

George King I agree 100%. Those are some great perks. The best part that trumps all for me would probably be the freedom aspect of working anywhere anytime.

Especially now that I'm focusing more and more on virtual wholesaling, I'm taking the book "The 4 Hour Work Week" to a whole new level.

Post: How do I Stay Motivated?

Account ClosedPosted
  • Wholesaler
  • Chicago, IL
  • Posts 219
  • Votes 38

Great point Will Sifert. There are no "ups" without the "downs." If there were only ups, life would get pretty boring pretty fast. Whenever you're feeling down, just remember that there will be an up that will follow it.