Welcome to real estate investment; new and experienced investors alike. In this article, you will learn the efforts and logic it takes to hunt dogs and birds wholesale. 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 suggestions helpful. They are not difficult; You don’t need to spend $5000 for a mentor, attend every last seminar in town, or purchase 15 different courses in your first month in business. It will come a time later for deeper learning.
This is the way to get the information and knowledge to make money from bird hunting and wholesale.
A commitment not to give up, come what may! Be prepared to deal with 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, to really believe.
Commitment to work 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 post on various real estate investing forums and blogs, your successes, failures, hopes, dreams and all the questions you think are too dumb and too embarrassing to ask, the latter being the most important. And I don’t know why, they just are.
I bought a particular book on wholesale, read and reread it about 12 times, it’s 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 others like it. This kept my spirits up through the initial rock climbing 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 calling! Which will be key to your success.
Stay focused on bird hunting and then wholesale. Read everything you can about these two specialties. The reason is that it brings cash NOW, this is what most new investors need. The time will come for other investment specialties. Speaking from this investor’s experience, it’s not at the beginning. So avoid straying from other specialties for the first 8-10 months, regardless of what other new investors tell you. I found it vital to mention this as most new investors are trying everything and eventually burn out because they can’t focus and make money in one specialty.
Stay focused, bird hunting and wholesale, did I mention 🙂
It is about learning and educating yourself. When you are new; bird hunting is always the best place to start I was told to forget about making money for myself at first. “Say again???” Yes, learn how and find that first offer for someone else. Once you are able to find deals with the help of a very patient experienced investor, you will dramatically reduce your learning curve and time. So help them first. Then you can wholesale to investors. They like that even more. Since you are bringing them a signed contract, they can just close it. You will need less and less time there, they like this. This is the foundation for wonderful and mutually beneficial friendships and partnerships with your experienced investors.
Bird-dog first, with a mind on wholesale second. That’s what worked for me. By the time I pursued two deals, I already had enough “NO’s” from experienced investors, as well as practice to then wholesale my next 40+ 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), which is commonly used by investors. I told them it was a code I had cracked, on how to talk to motivated real estate sellers!
Simply put, the above reading recommendations and courses worked for me. You can find these products on my website listed under “news”. Proper knowledge and education in investing is an absolute must.
Let me ask you a question: do you know how to reduce risk and fear, which so many new investors have to the point that it prevents them from making their first deal? The answer knowledge and education. At night she read everything she could find on bird hunting and wholesale. During the day, she drove on subdivisions that a mentor discusses in his wholesale book. It’s so funny it took me so long to find the gold mining areas you wrote about. But you just don’t give up. I remember a conversation with him and it went something like this:
“I can’t find the subdivisions or houses you talk 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 in his slow drawl “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’d post on the site, I’ve been trading and trading like your book says and still nothing!” He’d reply, “Okay, great…now just don’t stop trading, it’ll come.” I was exasperated, “Is that all? what’s he going to say, just don’t stop?” But he knew what I didn’t. So finally, motivated sellers started calling me asking me to take their houses over and over again.
Have I mentioned that keeping your focus only on wholesale hunting and wholesale is the key to success? What I mean by that is don’t run into this month’s investor favorite trick like lease options, subject to settlement, land ownership, commercial, rehab or renovation. But to stick to the specialty of hunting birds and then only wholesale. Period, end of sentence. The focus turns new investors away from making money faster than anything else I know of.
Finally, all the research, reading, posting, sweating, stressing, scrimping, trading, running, chasing the wild goose, blurring, refocusing, blurring, hoping and praying for a somehow worthwhile treat. Mistaken.
One of my first wholesale deals netted me $30,750.00. I just had the title company transfer it to my bank account. I then posted “oh…well…guess it really works huh?!” I was able to pay my daughter’s 10k medical bill…with 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 definitely worth the effort.”
Take these suggestions literally, apply a ton of effort, and never quit. Then we’ll see their posts saying the same thing “oh I guess it works!” As you get assignments of 1, 5, 10, 30 and 40 thousand dollars over and over again. Now that you know how to make money selling wholesale, it’s time for more advanced and equally profitable forms of investment!