@Nicole Pettis
Thank you for sharing your thoughts. I think the root of the frustration is the expectation that one can just jump in, send some letters, have a few call you back, make 2 or 3 appointments, close a deal and Voila!..you've made $10K in just a few weeks.
I just started wholesaling, myself, just last month. I haven't closed a deal yet but I do have a great lead for which I'll be going to see tomorrow. However, like you, I want to do it right so I have reached out to several investors here to for some guidance in exchange to split some profits, because I'm in it for the long-run and not the quick and fast cash. I got lucky enough that someone on here, who has a strong presence, liked my attitude (similar to yours) and approach and took me on. She's not local to me but just having someone readily available by phone/email who's been in my shoes to answer questions and guide me through is priceless. One thing she mentioned was that wholesaling is probably THE most difficult niche in Real Estate because to do it successfully and consistently, you have to know the real estate basics, marketing, negotiation, what your customers look for (i.e. rehabbers & landlords), how to work with realtors, REO's, financing strategies, legal issues, and the list goes on and on and on.
One thing I understand is that this IS a business and we should treat it as such. Like successful professionals in other fields, we must invest in our education and as @Bill Gulley and others have suggested before me, take a real estate course or 2 to learn the principles. Last week I purchased a Groupon for REALESTATE EXPRESS online courses that's tailored for licensing. It was so random to receive that deal in my email and at the perfect time that I didn't hesitate to buy. I believe it's still availble; just $59 for a course that normally costs $199, or something like that.
Like you, I work 40+ hours at my corporate job and have a 7-month old and 3 y/o at home and can't forget my wife. Time is a precious commodity and it can definitely get frustrating putting in so much time and money (that we don;t have) without seeing results right away.
My advice (finally) is to treat the first few months as your "college" into your new profession that will lead you to what we all dream of - financial freedom. I, personally, learn much better with hands-on training AS A SUPPLEMENT, which for me translates into taking action as I learn even though I won't know it all, heck I'll learn more BY screwing up than reading all the books in the world; but that's just me. If this deal doesn't go through, then it'll be like a semester's worth of learning.
What keeps me going and crushing all the barriers is why I decided to pursue this to begin with which is a good enough "why" for me. Think about your WHY and if it's strong enough, you'll keep pushing through. But help yourself and keep reaching out for knowledge.
Also, don't let down talk on wholesalers discourage you. Truth is, it does attract "the wrong crowd" but it doesn't mean it can't be done ethically and successfully. If done right, those same guys who talk $%*& will one day probably love you for bringing them an AWESOME deal.
