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Reign777

New Contributor
Jun 24, 2020
28
9
New York
Hello All, i've decided to start my wholesaling career. As with everything in life you can move much faster if you have the help or advice from a successful experienced individual.
I tried looking for one elsewhere but nowadays its only "gurus" selling courses and not actually active in the business.

Please link or invite anyone you know who is experienced in this business i believe this can help many launch their fastlane careers.

I have a RE license in NY so i'm no newby to RE, Wholesaling takes all the bad parts about being an Agent away and makes it more fun IMO. I want to actually help people though, many families in NY go through foreclosures or short selling their homes including mines. We were saved by an investor who bought our $800K worth home for less than $600k all cash. now the house is worth around $900k and giving him about $4k a month in rental income. See the potential? I love RE. and if i can make a living while helping people get out of messy situations then so be it.

So i know valuable information doesn't come cheap and i'm prepared to pay for the right mentorship and guidance!
I'm tired of sitting around waiting for the next big idea or ecommerce venture to make $$$
Taking action NOW!
I hope this thread blows up and help as many people as possible!
 
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Ismail941

Silver Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
May 7, 2019
528
570
No need to pay for mentorship. Save your Money for your future project.

Wholesaling is possible if done correctly. Not easy as it sounds, need to follow up and running a lot.

There are 2 ways you can do it, not at the same time.

Here are the Traditional Wholesaling steps:
1) Find a Property in undervalue
2) Talk to the property owner and build relationship
3) Get the Property in Under Contract
4) Market the Property
5) Build Relationship with Buyers
6) Sell the contract

Here is the Reverse Wholesaling Steps:
1) Build Relationship with Cash Buyers/RE Investors in your local city
2) Attend RE Meetings
3) Find a Good Deal
4) JV with those Cash Buyers/RE Investors and tell them what you gonna bring to the table
5) Get Finalized
6) Make Moolah/Profit
 

Reign777

New Contributor
Jun 24, 2020
28
9
New York
No need to pay for mentorship. Save your Money for your future project.

Wholesaling is possible if done correctly. Not easy as it sounds, need to follow up and running a lot.

There are 2 ways you can do it, not at the same time.

Here are the Traditional Wholesaling steps:
1) Find a Property in undervalue
2) Talk to the property owner and build relationship
3) Get the Property in Under Contract
4) Market the Property
5) Build Relationship with Buyers
6) Sell the contract

Here is the Reverse Wholesaling Steps:
1) Build Relationship with Cash Buyers/RE Investors in your local city
2) Attend RE Meetings
3) Find a Good Deal
4) JV with those Cash Buyers/RE Investors and tell them what you gonna bring to the table
5) Get Finalized
6) Make Moolah/Profit
Love it ! Thank You i found multiple Reno properties just driving around but i love the getting to know investors first idea!

1. Where would you recommend? FB? what social media platform? because of the pandemic i don't think many RE meetings are going on. As a previous RE agent ive been to some great networking tool.

2. Everyone today have RE Wholesaling apps or softwares they are using do you recommend any? some of them like "DealMachine" are really helpful from my research. They save properties for you and help with building buyer and sellers lists as well as sending emails and post cards and various others but come at a premium of course.
 

Ismail941

Silver Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
May 7, 2019
528
570
Love it ! Thank You i found multiple Reno properties just driving around but i love the getting to know investors first idea!

1. Where would you recommend? FB? what social media platform? because of the pandemic i don't think many RE meetings are going on. As a previous RE agent ive been to some great networking tool.

2. Everyone today have RE Wholesaling apps or softwares they are using do you recommend any? some of them like "DealMachine" are really helpful from my research. They save properties for you and help with building buyer and sellers lists as well as sending emails and post cards and various others but come at a premium of course.


Driving For Dollars = Old School Way, it costs gas & time.

If you want leads for RE, get Involve with one of these getting lead subscription service
1) Deal Machine: $49 a month = I have used to but it was going crazy like they kept charging. I use Profit Drive. Cheap & reliable.
2) Propstream: $99 a month = Its actually good with features but $99 a month - See if you can afford it.
3) Profit Drive = $25 a month = Simple, Cheap & Smooth
4) List Source: Its heavy cost like $300 = So No Need for this.

Offline = Focus & Build Relationship, Add Value, Build a List/CRM, not Money
Online = Marketing in Social Media in RE Groups

I have noticed something during pandemic -C0VlD-19, people actually are selling houses out of being emotional frustration.
So if you have some kind of entreprenuer tendency in your mind, you will able to feel this MEANING: It is an opportunity.
Make the opportunity work for you, not against you.

RE Meeting = Now a Days as in pandemic/C0VlD-19, now it requires Zoom Call - it is okay to miss some meetings but make it like a wee-bit.
 
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Reign777

New Contributor
Jun 24, 2020
28
9
New York
Driving For Dollars = Old School Way, it costs gas & time.

If you want leads for RE, get Involve with one of these getting lead subscription service
1) Deal Machine: $49 a month = I have used to but it was going crazy like they kept charging. I use Profit Drive. Cheap & reliable.
2) Propstream: $99 a month = Its actually good with features but $99 a month - See if you can afford it.
3) Profit Drive = $25 a month = Simple, Cheap & Smooth
4) List Source: Its heavy cost like $300 = So No Need for this.

Offline = Focus & Build Relationship, Add Value, Build a List/CRM, not Money
Online = Marketing in Social Media in RE Groups

I have noticed something during pandemic -C0VlD-19, people actually are selling houses out of being emotional frustration.
So if you have some kind of entreprenuer tendency in your mind, you will able to feel this MEANING: It is an opportunity.
Make the opportunity work for you, not against you.

RE Meeting = Now a Days as in pandemic/C0VlD-19, now it requires Zoom Call - it is okay to miss some meetings but make it like a wee-bit.
Going to start implementing everything you've given me here, going to try out profit drive, and ask questions as they come.
So these apps actually send you potential leads and all you have to do it cold call?
i love cold calling lol
then setup a meeting? seal the deal and find a buyer and thats it.
wow
One more thing where do people get their seller agreement contracts? and other contracts between wholesalers and buyers?
do they make their own and from what example?
Also im assuming everything is done and finalized at the local county's tittle office? or can it be any title company?
 

Ismail941

Silver Contributor
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
May 7, 2019
528
570
Going to start implementing everything you've given me here, going to try out profit drive, and ask questions as they come.
So these apps actually send you potential leads and all you have to do it cold call?
i love cold calling lol
then setup a meeting? seal the deal and find a buyer and thats it.
wow
One more thing where do people get their seller agreement contracts? and other contracts between wholesalers and buyers?
do they make their own and from what example?
Also im assuming everything is done and finalized at the local county's tittle office? or can it be any title company?

Yes - Potential Leads. But that doesn't mean you will find qualified lead right away.
Be Prepared for Rejection, Not Interested kind of people.
You have to have patience throughout with everything. Yes It can be exhausted but it depends on you how you handle things and how can you work during stress.
Setup a Meeting just for just getting to know each other and don't take everything for granted like making money right away.

It's like a funnel:

You Get 10 Leads
7 of them will say No
1 of them will say Maybe
1 of them will say Lost/No Response
1 of them will say Yes

RE Gurus said that in RE Books, (I am paraphrasing)
On Average, If you are good with consistency with good retain knowledge, you will get 1 RE deal within 45 days or 90 Days/3 months
On Average, If you are bad with consistency with bad retain knowledge, maybe you won't get a RE deal

Do not worry about Seller Agreement Contract for now. It can be done through a local attorney. So talk to a local RE Attorney and get to know him/her.
But get familiar with Contract Paper and make sure there is no misunderstanding.
This is where you save the money, not mentorship program. You have to pay the fees to attorney at lease for the transaction and their time.
Yes - All transaction will be done in the local title company with the attorney. Not County title office.

Do not assume about anything. I don't like to assume because it leads to confusing scenario.
Have a Field Test mentality than Assuming. Field test like understanding to seller, archetypes, needs/wants, selling motivation etc.
 

bracknelson

Contributor
Read Rat-Race Escape!
Oct 28, 2020
81
30
Hello All, i've decided to start my wholesaling career. As with everything in life you can move much faster if you have the help or advice from a successful experienced individual.
I tried looking for one elsewhere but nowadays its only "gurus" selling courses and not actually active in the business.

Please link or invite anyone you know who is experienced in this business i believe this can help many launch their fastlane careers.

I have a RE license in NY so i'm no newby to RE, Wholesaling takes all the bad parts about being an Agent away and makes it more fun IMO. I want to actually help people though, many families in NY go through foreclosures or short selling their homes including mines. We were saved by an investor who bought our $800K worth home for less than $600k all cash. now the house is worth around $900k and giving him about $4k a month in rental income. See the potential? I love RE. and if i can make a living while helping people get out of messy situations then so be it.

So i know valuable information doesn't come cheap and i'm prepared to pay for the right mentorship and guidance!
I'm tired of sitting around waiting for the next big idea or ecommerce venture to make $$$
Taking action NOW!
I hope this thread blows up and help as many people as possible!
Hey @Reign777,
Hope you are doing well, here I would like to tell you some pros and cons of Wholesaling Real Estate

pros are:-
Earn profits in a short period of time
Reachable to those with limited credit and cash
Be immersed in the real estate industry

But there are some cons too:-
Revenue can be unpredictable
Customers list can be hard to maintain
Dependent on finding buyers

To your best knowledge in wholesaling in Real Estate here, you can take the suggestion from this worthy source.
 
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saltal

PARKED
Read Fastlane!
Mar 27, 2021
2
0
I"m a wholesaler based out of Denver, CO. Feel free to reach out with any questions and happy to help in any way! Our main goal is to help people so the focus is on relationships as many has pointed out here. Hope you're finding success!
 

becks22

90% coffee, 10% everything else
FASTLANE INSIDER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 6, 2016
761
1,967
30
Upstate NY
Where are you located in NY?
 

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