All Forum Posts by: Gildardo M.

@Gildardo M. I think the reason most people get into wholesaling instead of being licensed is the VAST difference in ‘take home pay.’ Agents make 3% of the sales price (if they havent had to agree to take less in order to get the listing with the seller.) Then they have to split that 3% with their broker, which leaves them taking home a very small amount of money. Compare that to wholesalers who, in my market, are averaging a $10,000 wholesale fee. There are pros and cons to being licensed, personally I am not, but I have an agent on my team in order to take advantage of the pros without having to suffer the cons. Just my 2 cents. Feel free to message me with any questions! Im here to help in whatever way I can!

@Kevin Keith Beck he wants those "big investors" who don't care where their money goes and at current pace he'll get there at about the time porky sprouts wings. Partly because they don't exist, do their own marketing, and of course temperment

Kath,

No worries. Some folks just don't know what a 'gift horse' looks like :)

Kevin

its all sales.. my point is AND ESPECIALLY if your financially independent and want to stay that way.  Is when you get in the profession you have NUMEROUS ways to make money not just one which is what Wholesalers have .. You also get to interact with those doing deals and your bigger clients you will have access to..  when your wholesaling you have a  buyer and to them your just a bird dog.. don't think your going to be anything but that to the buyer..  and then to the seller your trying to talk them into selling the home WAY under what its worth so there is money for your buyer and money for you..  As an agent you simply list it at market value and get paid.. 

Also to be successful and I mean make 200 to 300k a year in sales.. I am not talking about someone making 10k a month.. you are going to need marketing budgets in the 100 to 300k a year range.. that's what it takes.. I know I deal with some of the bigger players in the industry.. you need people working for you to run leads..   

So that's my point.. Not to mention its not legal in CA the way 95% of the people approach it.. 

Hey Gil,

I'm new to Wholesaling here in San Diego too. I've invested in a few "tools" to help locate motivated sellers but am more interested in developing systems to scale up.

I'm a retired contractor who is also looking at real estate as a wealth builder.

I'm looking to partner with a few folks who can "man the phones" and talk with potential sellers.

If you're interested in joining forces, perhaps we can talk further?

If not, no worries. 

Good luck and take care,

Kevin 

 especially right now were sellers may not have caught up with the fact that market is leveling and retreating.. so you do all this work and the seller wants 50k more than its worth even as a wholesale so no one buys it.. time wasted.

I cant see how anyone that really wants to bring buyer and seller together just does not get a license.. you have multiple ways to make money with the license. listings selling them. referrals  leasing all sorts of things revenue streams.. wholesaling as its preached has ONE buy low sell to the next guy who may or not over pay.