@JPaul Mills Those are great stats my man! Definitely motivating. Question...Did you drop everything you had and dive in full-time?
Anyway... @Stephen Dominick
My first mailing campaign went out 9/26 and have also done some bandit signs on the weekends. I haven't closed a deal yet but I had two under contract (one was an option to allow me to market it though). My numbers didn't quite add up as I originally thought but I definitely learned why. So I'm still working for my first deal... and I must admit, It is not easy at all.
The way I see it though, REI (including wholesaling) should be treated like any other profession... i.e. it takes time and money to learn to do it right (consistently and systematically). However, instead of the conventional schooling that other professions require, wholesaling, I believe takes massive action for real-life experience to get it down-packed.
I know I learn something new after each phone call I get or make, and even more with each property I get under contract. And then on top of that, I make a few new connections every week through networking. Although I haven't closed a deal yet, I feel very good about the progress I am making and extremely confident that I'll make something happen sooner or later.
So to answer your question... as long as newbies keep coming in thinking it's a quick and easy money maker, there'll be tons of turnover. Because this is a business and should be treated as one. I truly believe that most of these "wholesalers" are really just bird-dogs being bred by all the gurus, mentors, and coaches out there splitting profits with them. Unless they have a long-standing business mentality to build on that on their own, they won't last.
