All Forum Posts by: Phillip Lyde

I like the fact that you focus on relational strategies vs. the high-pressure car sales practice I am starting to see with some people only wanting to unload their "unsellables" to me.

Thank you for your insight!

To Your Success,

Phillip L Lyde

Thanks for the insight Joe; I also thought that it was somewhat odd to utilize that particular strategy if your intent is to wholesale in the first place (couldn't prove it though)... Also, I guess I'm looking at it wrong, but since wholesaling is for quick profit, shouldn't the margin be closer to $5k or lower, in order to ensure two things: 1) that you (as the wholesaler) make enough to move to the next deal ASAP, and 2) your buyer (i.e. more experienced rehabber/ landlord, etc.) can profit as well. Personally, I want to make money, but not at the expense of longevity in the profession.

I'd love to hear your thoughts on this...

Thanks again!

To Your Success,

Phillip L Lyde

Thanks Russell... I can sincerely appreciate the sentiment :-)

It seems that marginalizing wholesalers as simply "newbies" is counterproductive to building some legitimate business relationships. And I agree many of the mistakes I've seen (mind you, I'm fairly new as well) are no different than in other industries where rapports are essential (i.e. MLM or network marketing)... I actually thought that in REI, it would be vastly different, but experience and personal development are still eminent :-)

The mistakes I've committed in the past have definitely prepared me for this, and I look forward to the challenges with it.

Thanks again!

To Your Success,

Phillip L Lyde

I've been reading and hearing both sides of the coin when it comes to why many so-called wholesalers are not doing their research (i.e. their due diligence). I've just had a conversation with someone RE: wholesaling, and it seems reasonable that part of the process consists of sifting through the "numbers"... am I wrong?

Also, for those who've been in this industry for some time, it would be apparent that you understand it is a numbers game: a lot of the deals aren't deal at all (they may be pure B.S.); this is why everyone must do their part to ensure a "win-win"... otherwise, what's the point? Move on to the next one...

Bottom line: stop complaining that there are no deals vs. work your @$$ off to find good ones, as well as whining that you get a lot of ill-repute people trying to scam you (BTW, you can't be scammed if you're educated in the process), vs. work you @$$ off to build more positive business relationships- either way, it is important that one's arrogance (or ignorance, depending on your point of view) is considered for making money at the end of the day.... everyone's NOT for everyone, period

Someone important in the forums made a good point that the industry as a whole suffers as the result of negative business practices; it also suffers from the lack of mentorship and community.

To YOUR Success,

Phillip L Lyde