Welcome to real estate investment; new and seasoned investors alike. In this article, you will learn the efforts and rationale needed for bird dog and wholesaling. I found this to be the best way to start or continue your investment career to make money with very little cash and minimal risk. This is how I started my career as an investor; It will work for you too!
I hope you find these helpful suggestions. They are not difficult; You don’t need to spend $ 5,000 on a mentor, you don’t need to attend all the latest seminars in town, and you don’t need to buy 15 different courses in your first month in business. It will come a moment later for more in-depth learning.
This is how you get the information and knowledge to make money hunting and wholesaling.
A commitment not to quit, no matter what! Be prepared to face all the negative self-talk you may have, like “I really can’t do this, the guru can but I can’t.” You have to learn to believe that you can do this business, really believe.
Commitment to working hard and diligently. A very successful person said, “Do something in your business every day, even if it is small.” These are words you want to live by.
A commitment to posting on various real estate investment forums and blogs, your successes, failures, hopes, dreams, and every question you think is too silly and embarrassing to ask, the latter being the most important. And I don’t know why, they just are.
I bought a particular book on wholesaling, read and reread it about 12 times, it is invaluable.
Perform “searches” for all your investor questions. Many of your questions have already been posted along with a number of answers. Search for wholesale personalities who have been successful wholesalers.
Find and read “success stories” on this site and other sites like it to read. This kept my spirits going during the initial rock climb of the first year.
I recommend buying a marketing course. This course will help you learn how to market and find motivated salespeople and get them to call you! Which will be key to your success.
Stay focused on bird hunting and then wholesaling. Read all you can about these two specialties. The reason is that you bring in cash NOW, this is what most new investors need. The time will come for other investment specialties. Speaking of the experience of this investor, it is not at the beginning. So avoid deviating into other specialties for the first 8-10 months, regardless of what other new investors tell you. It seemed vital to me to bring this up as most new investors are trying everything and eventually burn out because they can’t focus and make money on a specialty.
Stay focused, on bird hunting and wholesaling, did I mention that 🙂
It’s about learning and educating yourself. When you are new; Bird hunting is always the best place to start. Initially, they told me to forget about making money for myself. “Say again ???” Yes, learn how and find the first offer for someone else. Once you can find deals with the help of a very patient experienced investor, you will dramatically reduce your learning curve and time. So help them first. You can then wholesale to investors. They like it even more. When you’re bringing them a signed contract, they can just close it. You will need less and less time, they like this. This is the foundation for wonderful and mutually beneficial friendships and partnerships with your seasoned investors.
Bird-dog first, with wholesale in mind second. That’s what worked for me. By the time I got two deals, I had enough “NO” from seasoned investors, as well as practice, to then wholesale my next 40 or more contracts.
After several new investors kept asking me how I bought so many houses for 45-75 cents on the dollar without the Multiple Listing Service (MLS) commonly used by investors. I told them it was a code that I had cracked, on how to talk to salespeople motivated by real estate!
Simply put, the above reading recommendations and courses worked for me. You can find these products on my website listed under the one called “news”. Proper investment knowledge and education are absolutely mandatory.
Let me ask you a question: do you know how to reduce the risk and fear that so many new investors have to the point where it prevents them from making the first deal? The answer knowledge and education. In the evening I read everything I could find on bird hunting and wholesaling. During daylight hours, he drove into subdivisions that a mentor reviews in his wholesaler. It’s so funny that it took me so long to find the gold mining areas he wrote about. But you just don’t give up. I remember a conversation with him and he said something like this:
“I can’t find the subdivisions or houses you’re talking about in your course! Las Vegas is too new a city anyway! Your city has hundreds of very old houses and it’s easy for you to find them!” He replied with his slow accent “out there Bill, you just haven’t found them yet.”
He was right, and I finally found the subdivisions that he calls “gold mines.” Then I published on the site, I have been marketing and marketing as your book says and still nothing! “He would reply,” Okay, great … now just don’t stop marketing, it will come. “He was exasperated,” Is that all he’s going to say, just don’t stop? “But he knew what I I didn’t know.Then, finally, motivated salespeople started calling me asking me to take their houses over and over again.
Did I mention that keeping your focus only on bird hunting and wholesaling is the key to success? What I mean by that is not to pull off this month’s investor favorite trick like lease, settlement, land lordship, commercial, rehab, or renovation options. But to stick to the bird hunting specialty, only wholesale. Period, end of sentence. De Focusing gets new investors off track from making money faster than anything else you know of.
Finally, all the research, reading, posting, sweating, stress, scarcity, marketing, running, wild hen chase, blur, refocus, blur, hope, and prayer on a whim that is somehow all worth it. Wrong.
One of my first wholesale offers gave me $ 30,750.00. I just had the title company transfer it to my bank account. Then I posted “oh … well … I guess it really works huh!?!” I was able to pay my daughter’s 10k medical bill … in cash, no payment plans for five years at 10% interest, no collection agencies, etc. That’s what investing can do for you. And it’s things like this that reminded me that “it was certainly worth the effort.”
Take these suggestions literally, put in a ton of effort, and never stop. Then we will see your posts saying the same thing “Oh I guess it works!” As you receive assignments of $ 1, 5, 10, 30, and $ 40,000 over and over again. Now that you know how to make money wholesaling, move on to more advanced and equally profitable forms of investment!