All Forum Posts by: Joe Gonzalez

When I started I always focused on locking up deals first - if your deal is good and you truly know how to do your numbers then finding a buyer is simple.

Where you can find buyers:

• Biggerpockets
• Facebook investor groups
• Craigslist
• Working with realtors
• Local REIA

Most new wholesalers get hung up on "What if I can't find a buyer?" - If the deal is good then you even have the option to close (using hard money) and reselling on the market. As you can see, the key is to know your numbers.

Best of luck. 

Whats going on George.

I haven't heard of him but my advice is to make sure wholesaling is for you before paying for coaching. Are you good at sales? Are you ready to deal with massive rejection? Do you have the time to invest into the business full-time? If you don't have the time do you have the capital to create more passive lead flow?

There are countless ways to make money in real estate, you must choose the sector that is best suited to your strengths.

If you decide that this is the niche for you then I would ask for HUDs from any potential coach.

Best of luck. 

Hello Jefferson,

Here is an overview:

Single Family Investment - This is the most popular investment for a beginner since the deals are easier to find. Also, if for any reason you have to exit the deal (sell it) there are a lot more families looking to buy a single family home than any other asset. When renting it, the downside is that if your tenant stops paying rent then your cashflow stops.

Duplex, Triple, Quadplex - These are powerful investments since you have multiple dwelling units. If one of your units goes vacant your entire cash flow does NOT stop, since you have more than one tenant. These can be great investments since you are under 4 units and can still apply for a conventional type of loan. The downside could be that these assets are more expensive and might require more work (rehab, property management) than a new investor can handle. 

I am an advocate of starting with a single family rental, learning the ropes and gradually moving up the asset class. 

If your starting off then a Driving for Dollars list is your best list - you will have found distressed houses that others are not mailing to. 

The key is to mail these people on a monthly basis. Why? because situations change. Someone who got your mailer in January might still be on the fence about selling but could be 100% ready in March. I don't overthink this business too much, I simply just stay in front of peoples faces year round.

Best of luck. 

As Wholesalers we are in the business of providing convenience. 

Every single one of my sellers understands that I am providing a hassle free experience in every aspect of the transaction, in return I have to purchase at a discount. I have been in business for quite sometime and can tell you that unethical people exist in any field. Your job is to disclose your intentions & educate yourself as much as possible so you can deliver on your promises to homeowners. 

Whats going on Brian,

I used to skip over this question a lot, until I realized that the tax assessor information is not always accurate.

My protocol now is to always verify: "So just to double check, this is a 3 bed 1 bath correct?" they will confirm or tell you otherwise. 

Interesting post.

I haven't looked into the common practices of the countries mentioned but from the sound of it they don't really encourage homeownership/investing (which is critical for the economy.) I can't think of a scenario where anyone would feel comfortable putting down non refundable EMD of 25-50% without an option contract in place.

To put it into perspective:

The average sales price of a home in the US is roughly $375,000

That means a potential homeowner would need to inspect the property (without any equitable interest), deposit $93,000 - $187,500 EMD (non refundable), and pray that there are no missed items on the inspection and/or no unforeseen life circumstances that would force them to default. There is a difference between losing 1% EMD and losing 25-50% EMD, which would be a large chunk of someones net worth (most Americans would not be able to come up with this amount)

The economics of this tell me more people would begin renting. 

I believe the US has a beautiful real estate model, it encourages real estate transactions and homeownership. If weeding out bad wholesalers is the goal, then there are plenty of other ways.  

Congrats on understanding the power of real estate at such a young age!

I only discovered Wholesaling in my late twenties and was still considered young in the industry so you're ahead of the game.

Here are a few pieces of advice:

Wholesaling is all about SALES, pick up a sales job while you study wholesaling. Even part time works, part of the reason I'm doing multiple deals a month is because I worked nothing but sales jobs my entire life. Understanding the psychology of it all will help you tremendously. 

Study, Study, Study - Study communication, Real Estate, Basics of Law,  Time Management, Sales, Business etc. - Use podcasts and books to level yourself up

Books I Recommend - Secrets of the Millionaire Mind, The Compound Effect, The One Thing. Although these are not wholesaling specific, they will help you understand what it takes to make it in this industry. 

Be intentional with your daily activities - Make sure that your friends, things you watch, decisions you make, etc. all lead to your success. If it doesn't add value to your journey: DROP IT.

To summarize it up, be obsessed with the process not just the end result. Watch every video that you can on YouTube about wholesaling, listen to the biggerpockets wholesaling episodes religiously, read often and focus on becoming a better version of yourself daily.

Best of luck!

Hey Kweli,

My best piece of advice is for you to follow a path in real estate that suits your talents/qualities:

Wholesaling - Sales & Marketing

Agent - Incredible people skills / networking

Fix and flipper - Great eye for design, construction, budgeting 

Buy and Hold - Patient, budgeting, you currently enjoy what you do for a living

ETC.

Overtime many then venture into different categories (I know I have)  but I would suggest you start with the one that suits you most. I see too many people getting into the wrong arena and struggle - this is why. 

Best of luck. 

I run a full time Wholesaling company and have never used birddogs so yes it's possible.

My offers are 100% virtual.