If you like money, helping people, and setting your own hours then wholesaling is for you!
However, wholesaling real estate is not without its pitfalls. You can go for many months without getting a paycheck, or seeing a deal you’ve worked on for months fall through at the last minute, have unforeseen title problems or more.
Such is the life of the entrepreneur. It wouldn’t make a difference if you were running a diner, running a laundromat, or selling real estate. This is the life of an entrepreneur.
The good news is wholesaling real estate for profit is the best skill to possess in real estate. There are other skills you possess, you could have a license and sell residential real estate for others… that would be a skill; you could rehab homes and that would be a skill. But the best skill is knowing how to wholesale!
There are three very specific reasons why wholesaling is the best real estate skill to have!
1. Wholesaling Investors See Things Differently.
First, as a wholesaler, you look at the market differently. You approach the real estate market from a standpoint of a consumer. This is a different mindset than that of a traditional Realtor® or Investor.
The typical investor or Realtor® places a lot of emphasis on the resale value of a home. A Red Pill Investor System agent realizes that property is only valued upon it’s intrinsic value to YOU. The consumer.
The comparable sales, active listings and trends are important no doubt. However, in the final analysis, they are all of little value in the face to face negotiations between a Seller and a Buyer. Oftentimes, what is said today is changed tomorrow. As such, the smart, trained investor realizes that the profit margin on a wholesale deal is determined solely by your ability to negotiate.
2. “Job” Security.
In this world of corporate takeovers, downsizing, minimum wages, office politics and more it is no small wonder why so many people are taking to real estate as a means to be self sufficient. Rather your goal is to be ultimately free from your job, or to take your wife to Bora Bora (My goal) then real estate can be a profitable means to make that happen.
However, there are many who stand in your way. The ultimate “deciding factor” in many of the presentations you give will be the belief in yourself that you have. The person who dedicates themselves to the pursuit of sales excellence will have no trouble finding a deal, nor getting buyers to”sign on the dotted line.”
There is never a day that goes by when a person doesn’t want a good priced home. If you can specialize in finding them, then you will never have a shortage of those willing to take it off your hands.
No Seller, Buyer, Title officer, or Agent can stand in the way of a Buyer and Seller performing a legal sale. However, if you are an agent representing a client, you and I know that your decision making ability in the transaction is limited due to your representation.
3. It’s Easy to Stand Out When Everyone Else Sucks…
How many times have you heard “there are no good deals out there..” or my favorite “all the wholesalers send me are crap deals.”? If you’ve been in the business for more than a day, you probably have heard this or some variant of it.
I love hearing that because it means that my competitors aren’t out there hustling to find the deals. I believe it means that I have a chance to find that investor buyer a deal.
It’s the little things you do that make the biggest difference. Be selective about the properties you offer. Don’t be like everyone else and send out “daisy chains” of properties in the hope that you get something. Take pride in your business. Strive to get your own inventory!
To the investor who has the skills to a well priced, below market home, you will naturally have the serious “flow” to you. The word gets out quickly when you have a person who is always “in the know” about the best deals!
The Red Pill Sales System Is Designed to Make You Professional.
When everyone else does things the same, it is the person who approaches the sale in a meaningful, professional, empathetic way that gets the contract signed. For those who diligently role play, practice sales scenarios, qualify prospects, listen for motivation and close, the sky’s the limit!