All Forum Posts by: Joe Gonzalez

I agree with all of the answers above.

As an agent you have a fiduciary responsibility to your client.

As an investor you have a fiduciary responsibility to yourself.

It's definitely an area to play with caution, I do know a few investors that do both but I would just pick one and avoid any complaints by sellers who change their mind during/after the sale. 

Whats going on Sabur,

Congrats on taking action, now let's get you closing some deals.

Here are some tips:

- Understand the numbers: make the seller an offer that makes sense to them but that also would make sense to your buyer, there is no point in locking up deals too high. It will just waste everyones time. 

- Have a strong contract: contingencies are critical in wholesaling, you want to ensure that you have an 'out clause' if the deal no longer makes sense after further due diligence. 

- It's all about speed: You do not want to wait too long to take action on getting this under contract, there are plenty of ibuyers, out of state investors, local investors etc. that would jump on this quickly. 

- Dont rely on one deal: Probably the most important tip is to always keep multiple potential deals in your pipeline, don't put all of your hopes into one deal because if it doesn't work out you'll be back to square one. Stay marketing, keep reaching out to property owners and have multiple options at all times.

Best of luck. 

I went full time back in 2017. 

All it took was one deal for me to never look back, I made in that one deal what I used to make in a whole year slaving away.

Now here I am almost 6 years later still wholesaling full time.

Hey Sarah,

I am a full time wholesaler here in Houston, TX. I started this business with $1,500 to my name and a lot of ambition, I have now closed Millions in wholesale fees alone.

Here are some tips:

- Wholesaling is a sales & marketing business - once this makes sense, this business makes sense

- Learn to deal with rejection - only those who accept rejection as part of the process make it

- Read, Read, Read - Books on real estate, sales, marketing, motivation. Fuel your mind daily

- Pick 1-2 marketing channels and stick to them, I suggest having 1 proactive and 1 reactive marketing channel

- Pick 1-2 Markets and stick to them - Getting to know a new market takes time, boots on ground and expertise. Most of us make the mistake to try to be in multiple MSA's when first starting out, it's a big no-no

- Have a simple script - At the end of the day you are looking to have a simple conversation with a homeowner, don't have a complicated script. The main points are condition of home, timeframe they want to sell, reason why they want to sell, and price.

- Be a great listener - Most homeowners want to be heard, the more you listen the more you'll understand how to solve their problem. Focus on talking 30% of the time to their 70%

Hey Steven,

Here's a breakdown:

Hot Lead - A lead that wants to sell  & are looking to sell within the next 60 days

Warm Lead - A lead that wants to sell but after a specific period of time 

Cold Lead - A lead that wants to sell in the future

Retail Lead - A lead that wants to sell but only interested in market value

Dead Lead - A lead that does not want to sell and would like to be removed from your database 

We don't believe in forcing anyone to sell their property, once we determine a lead is dead then they are removed from our database.

Hey Monique,

Congrats on taking action and deciding to pursue wholesaling!

I am a full time wholesaler here in Houston and I am also a buy and hold investor so I purchase homes as well.

Send me over whatever deals you get and I'd love to take a look.

Hey Steven,

The key here is to build a marketing machine that pumps leads into your business, you would essentially do what a wholesaler does but with holding being the main exit strategy (instead of wholesaling).

Pick 1-2 marketing channels and stick with it:

• Direct Mail
• Cold Calling
• Pay Per Click / SEO
• TV/Radio
• SMS
• Bandit Signs

These are some of the marketing channels I've used to wholesale & find my BRRRR deals.

Best of luck.

Congrats on your success.

I'm always buying in the Houston area so feel free to reach out if you come across any Houston deals.

Hey Jordyn,

A few tips:

1. Be as educated as possible, continue to learn about Real Estate, Sales & Negotiations. Always be a student.

2. Focus on solving problems not how much you can make on a deal.

3. This is not a 'hustle' it is a business, you will have to invest serious time to master your craft and to make your business succeed. 

4. Anyone can eventually do a deal, the key is how to do deals consistently. Be coachable and seek/hire mentors, Youtube university will only take you so far.

5. Let each rejection fuel you not demotivate you. This business is built around rejection, get comfortable with it.

Best of luck.

Hey Maria,

I typically use the same title company if closing a deal in a different city (within the same state). When it comes to a different state I always ask the title company for a sister company or a referral.