myEmpirePROQuestion: “Is Real Estate Wholesaling WORTH IT?”
The process I showed you, this 5 steps right here:
It looks excruciating but not really, it’s actually simple.
It’s just like anything you do in life.
Like if you get hired into a job, they give you a job description,
…and the majority of the job description out there is a lot more complicated than what I just showed you above.
They just send you through training, they’ll say this is what you are gonna be doing daily,
…and then you’re gonna make a few mistakes here and there.
Then eventually the more mistakes you make the better you become at the processes and learning how to successfully collect the check every Friday.
There’s nothing really different here.
It’s the same thing, except that this one is actually a lot simpler and a lot more rewarding.
Here’s what I always tell people, Real Estate Wholesaling is a type of real estate investing.
It’s literally you finding the deal, like you’re basically the source of deals into the real estate market.
Like, you are at the very beginning source of deals into the real estate market because you are direct to the seller.
Except maybe two states: Oklahoma and Illinois maybe Ohio.
You have about 50 different states that you can literally take advantage of this opportunity.
Even in those states that I said, it basically comes down to partnering with people that have all those required licensing or required regulations.
Just partner with people.
It’s really a marketing skill set learning how to find these deals.
So, Is real estate wholesaling worth it?
It’s absolutely worth it!
I’ll tell you right now, for me it’s been 15 years, since 2005.
It’s worth it because the pay days are beautiful especially if you learn how to market with Digital Marketing.
Especially if you learn the art and science of digital marketing,
…Learning how to Facebook, Instagram, Google, SEO and things like that.
If you learn how to use those things to target people that are already in these position online,
…Or people that are already going to reach out to you because they need this help.
It’s absolutely worth it not to even add on to the fact that you can use this skill set in other aspects of life.
So it’s very very important that you understand the process.
PREVIOUS POST: How Do You BECOME A REAL ESTATE WHOLESALER?
Once you understand the process then it’s about to start from step 1.
Is real estate wholesaling worth it?
Yes, it’s always worth it.
Another question I always ask people, like sometimes it’s worth it to just go collect the paycheck on Friday, right?
Of course, it’s worth it because you get to pay your bills, you have some stability.
And even if you want to start a new gig, or you want to start a new side hustle or something like that,
…you need money and you need peace of mind from bills being paid.
So that you can focus on the right processes and you will be able to be at peace of mind when you are learning the new skill set.
What I can tell you like, okay my highest paid is $82,000 from one deal.
$82,000 may not mean anything to you, my average is $25,000 per deal.
Maybe that doesn’t mean anything to you.
I’ve got as low as $0 for one deal before but got paid like $5,000 a few months down the line because the deal was gonna fall apart.
So was that payday worth it for me?
It was because I got to help a person that was facing pre foreclosure, saved that property for going into foreclosure,
…and it was a good feeling knowing that at least I helped them out and an investor got a property.
I wasn’t gonna be paid.
I basically thought I would never get paid but then I got a call a few months down the line to like, “what’s your address? I’m about to send you a $5,000 check”
Is it worth it?
Honestly at the end of the day really, it’s up to you to determine that but I’m guessing if you’re here learning how to invest in real estate,
…you already know it’s kind of worth it if you can figure out how to just get these deals coming to your table.
What I can tell you is that the work involved is work.
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For the most part, it’s mental especially if you plan on winning.
It’s not about how much physical work or labor that you can do, it’s about learning marketing and learning how attention moves across the market,
…because it’s about attention, if you are going to do marketing you need to learn how to capture the right attention in a cost effective manner.
Because if you are not very careful you will waste a lot of money in the game, on marketing in the wrong strategy.
Or driving around town wasting the wrong resources and the wrong strategies and then you still won’t close any deals.
That gets very expensive very quickly especially if you don’t have the proper value of your time.
It can get very expensive.
The bottom line is that real estate wholesaling is a form of trade.
You are trading off time in exchange for money because you are saying,
“Hey I don’t have $600,000 to invest in two properties,
…with a chance that I could lose money without knowing what I am doing.
I’d rather just invest time and money, anything less than $5,000 in learning the skill set of finding deals.
If I can find deals, then other people will pay me $5,000 over and over again for the rest of my life”.
Then, It’s worth it!
Now the other flip side of it is that you say, “you know what I’m not too sure. I don’t trust the game so let me see if somebody is offering some kind of a free training on YouTube somewhere”.
Then you go pay for that and then you don’t do anything because again, when you don’t pay, you don’t pay attention.
It’s not just you, it’s myself, it’s everyone else.
If you don’t pay, you don’t pay attention.
Anything that you didn’t have to put in some kind of worthwhile resources, chances are you are not gonna take it seriously.
You are gonna give all kinds of excuses: time, life, happenings and stuff like that and why you won’t take it seriously.
So it’s a really broad question.
For me it’s been worth it, that’s why I am still in the game 15 years later,
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…but for you is it worth it?
That’s a question that you get to ask yourself.
Now, it’s not about the money, it’s about what that money can do for you.
If it can do anything extra for you.
Will that allow you to have extra time with family?
Maybe three months down the line, maybe one year from now, you can spend more time with your family, is that worth something to you?
If that’s worth something to you, then absolutely.
Then that’s up to you again if that money allows you to be able to spend some more time on some other kind of passion project that you have that is worth something to you, then it’s worth something to you.
If you’ve heard this long enough and you’ve gone to all the gurus in the world and you’re like “Uh I don’t know if it works”,
…then maybe it’s not worth anything to you.
It’s really a broad and wild question and it’s really personal.
For me, it’s been worth it.
I am guessing there’s a good chance it will be worth it for you if you are here hanging out with me and learning how to do this.
But I’m gonna tell you right now, it feels a lot better when you learn how to use today’s technology to do the business.
So if you are still cold calling, there’s a good chance that you are going to get frustrated out of the process and suddenly it’s not worth it for you.
Like Ola’s $82,000 deal is nothing.
To you, because the process feels too excruciating and you are like, “you know what it’s not worth it.”
The question is a little tricky.