Wholesaling is a method of mixing all the creative methods in real estate to maximize your efforts in making money.

       Successful Wholesaling

Successful wholesalers always have a list of at least 10 or more buyers. 

You need to have buyers before you go out and start putting deals together. 

The biggest mistake wholesalers new to the business make is running out there looking for properties, before they have even have one buyer lined up. 

Even if there are thousands of properties on the market, what are you going to look for; you will be taking action as a wholesaler but in name only.

Example:
You may locate a great deal and have 7 to 10 days even with inspection periods to complete the deal. 

You then have to find someone to buy that specific deal.

If you fail to complete the deal you will then have to default on the contract and too many empty promises and you start to make a fool of yourself.

Remember even though there may be millions of people in the area, the wholesaling community is small and you could ruin your reputation very quickly. 

Avoid the deadly mistake of looking for homes before you have a buyers list.

Be smart, find buyers before you start putting together deals, one is fine, but work on a list of 10 buyers.

Spend ten percent of your time looking for homes for that buyer and 90% finding more buyers, until you have at least 10 buyers to work with.

Starting with one buyer you will at least have an idea what the buyer is looking for and you will stop spinning your wheels on deals that may never work.

How do you find buyers, and who are buyers. 

You go to meetings and network with investors, real estate agents, mortgage brokers, you go to social functions, let everyone you know or meet that you buy real estate. 

I have found buyers in the supermarket line.

Some meetings are filled with wholesalers, which make it difficult to make a profit selling to someone that is trying to buy at a wholesale price, but you may make a couple of thousand of dollars quickly.

Some wholesalers become One Trick Pony's, they think only in terms of assigning contracts. 

I love assigning contracts, but make it easy on yourself, mix all the methods of creative real estate, lease options, real estate notes, discounted mortgages, importance of equity, creating your own mortgage, seller financing, real estate exchanging, etc.

The more tools you have to work with the more successful you will become. 

Abraham Maslow said, "If the only tool you have is a hammer, you tend to see every problem as a nail". 

Use technology – Computer skills is a must, create a web site, SEO, Blogs, auto responding, Video, social net working, etc.

ACTAction C ompensates Tremendously -  Not taking action on what you know is like leaving it in your brain, it's like having a couch you never sit on.

There is nothing you can learn about or do where taking action is not better than doing nothing

Doing something is always better than doing nothing. 

When you go to a seminar and you learn something new from a speaker or speakers, put it to the test try it out make it work for you, take action success leaves tracks.

 Learn the market, know what properties are selling for today, it doesn't matter what prices were two years ago, last year or even a couple of months ago, what are they selling for today. 

Keep your speculation to a minimum.

Have a close relationship with a good real estate agent, they have access to the MLS and have the up to date knowledge of today's market. 

Remember if you buy the property right you can sell it right.

Successful wholesalers do not, listen to others, listen to the news and you definitely be set for depression.

Other peoples EGO's are idea destroyers, they will tell you many, many ways it won't work, do NOT listen to them. 

It will work if you work. 

Successful wholesalers do not - Wait for things to get better – NOW is all we have. 

What if you decided that this year is when you wanted to thrive, to move from where you are to an exciting new life of your dreams, ACT NOW and you will fulfill your dreams.

Work with a Coach – All successful athletes, movie stars, performers, those who just want to get into shape have a coach, but I find it interesting when most people who would love to be more successful in their life, think they can do it on their own. 

I ask them this question How is it Working? 

In most cases the answer is not so good.
 

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