87% of real estate agents fail as well. So those suggesting becoming an agent instead of a wholesaler because wholesalers fail don't make a strong case. Becoming an agent can be great, but I would say wholesaling is just as good if done right.
Here are what I would say are the two most important aspects to successful wholesaling, coming from someone who hasn't successfully flipped a contract but who has bought multiple deals from wholesalers:
1. Build your buyer's list first. Don't wait until you have a deal. Then it is too late. And please don't just subscribe to Investorlift. Like Jonathan said, you need to (get to) know local buyers.
2. Understand the house flipping process. Otherwise, you will have trash deals. You need to factor in rehab, buying, holding and selling costs, because that is what the flipper will factor. I see so many trash deals from people who have never flipped a property and they have no concept of why it is even a trash deal.
That doesn't mean you can't succeed without item #2. Most of the big wholesalers nowadays have trash deals and they're still selling somehow. But it'll take the burden off #1, because your deal will have appeal...
