myEmpirePROThis is a frequently asked question and the answer is yes; here is why you too should learn how to wholesale real estate.
If you’re asking this question, you’ve encountered the idea or…
The business model of wholesale real estate, which is basically…
- Finding deeply discounted properties,
- Locking the properties up under contract, and then
- Selling the equitable rights in the contract
…in exchange for a lucrative wholesale real estate fees;
Why do you get paid?
Because you help people who are too busy investing and fixing up properties find deals.
You get paid very handsomely for simply setting up systems to finding such deals for real estate investors.
The highest I’ve gotten paid for doing exactly what I just told you without involving my personal finances or credit is $82,000 from one deal.
The only thing it involved was sweat equity for the most part, which is learning how to market.
It’s called wholesale real estate.
So should you wholesale?
Well, if you’re looking for a nice and healthy income on the side, it’s a beautiful skill set to learn.
But here’s what I’m gonna tell you.
Here’s when you should not wholesale,
If you think by any remote chance that this is some kind of get-rich-quick stuff, don’t wholesale.
The fact of the matter is that you will get rich quick,
…with some diligence, consistency, and keeping things simple but also learning this skill set.
You will make money and you will make more money than an average human being.
However, you will only lose money if you come into this game with the “Get Rich Quick” or “Get-Something-For-Nothing” mindset.
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If you get rich in the next five years, is that a get-rich-quick?
Yes & Absolutely.
Because most human beings will actually never get rich.
If you make $10,000 to $30,000 per month, from an average deal in the next 2-3 years from taking the time (6 months or so) to learn the skill set.
Is it worth it? Is that, kind of like, a getting-rich-quick?
Yes…. When you look at the grand scheme of things considering that most people will never get rich and that most people will never make more than $4000 a month.
But when you’re looking at things from a standpoint of, “you’re about to put in efforts”, you are welcome into real estate.
“Get Rich Quick” or “Get-Something-For-Nothing” mindset will put you in a position of lack of patience, entitlement…
If you can’t comprehend the idea of somebody flipping a piece of paper for $10,000…If it doesn’t even make sense… I would slow down.
Many people haven’t taken the time to understand that lawyers do that all the time, flipping contracts….
When you see people advertise on big billboards,
“if you had an accident yesterday, we’re gonna help you”,
…if where your comprehension says they’re helping just because they’re “nice”, and you don’t understand that it’s a business model,
I would say avoid coming into the wholesale real estate game.
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If you have a problem with upsell as a business model (would you want fries with your burger?) and spending money on tools,
When you can’t wrap your mind around the idea that, at the end of the day this is business of serving people, avoid wholesale real estate.
It’s business like any other business model and your faith will be tested.
In the beginning, you may even close a deal very quickly within a week, but that would be a setup for disappointment because the next deal may not come that quickly because you’re brand new.
So if you have a problem spending the next 3 months mastering a skill set, the business will probably frustrate you.
We have the 11 Days Challenge to help you set up a campaign. It’s not 11 days to close the deal, it’s 11 days to start generating leads.
If you don’t know the difference between leads and deals, you are very likely to get frustrated out of the business.
It’s how many qualified leads of motivated seller leads you can generate and not how many deals you can close.
This is a game of business and life and you will have to give…
The more value you create, the more money you’re gonna make.
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If you’re a little bit patient more than the next person or you are at least willing to learn how to be patient….
And you want to learn a skill set over the next 11 days that you can repeat over and over, every 11 days.
So 22, 33, 44 days that you can go through
Are you willing to dedicate 11 days to potentially make $10,000… $15,000… $20,000… $30,000 a month? Yes?
If you’re willing to understand that mastering marketing skill set is involved ; Yes, you should wholesale real estate.
If you looking for fly-by-nights opportunities because some kids you know around the block said,
“He is wholesaling, everyone should be wholesaling too” …you’re just a Fanboy of hypey gurus on Instagram, don’t bother.
You’re gonna get frustrated out of the game. And it won’t be anybody else’s fault. In fact, it won’t be your fault but I’m letting you know right now…
Stay out of the game of entrepreneurship altogether if a little bit of frustration frustrates you.