How Much Does Wholesaling Real Estate Cost?

I’m actually going to take this episode and answer a very simple question. But it’s a question that’s really important to the majority of you. And that is, how much does it really cost to become a real estate investing wholesaler?

 𝐉𝐨𝐢𝐧 𝐎𝐮𝐫 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐆𝐫𝐨𝐮𝐩 
https://www.facebook.com/groups/thescienceofflippingacademy

 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 ➜ https://www.youtube.com/justincolby
 𝐁𝐨𝐨𝐤 𝐚 𝐂𝐚𝐥𝐥 ➜ https://www.thescienceofflipping.com/learn-more

It’s a question that’s important because a lot of people you know, they watch YouTube, they listen to podcasts, and I hear all the Guru’s in do Ruse and several of us out there are doers like myself, I’m a doer, I do real estate and I teach it. Several, you know, people will say, you know what I heard you got to do direct mail and you got to do cold calling, you got to skip trace and you prop stream and and eat and eat and eat and eat. And a lot of people like I don’t have a whole lot of money to spend on becoming a successful real estate wholesaler. And I’ll tell you, right now, this moment, that is okay, if you have $250 a month, you can be a successful real estate wholesaler. Now, if you have more, it only helps I want to be clear, the more money you can spend on yourself and in your business. Typically, as long as you’re doing it in the right ways, and in the right strategies, it will only help you gain traction faster, you only go further faster. So let’s break this down a little bit. Right, I spend 10s and 10s and 10s of 1000s of dollars every single month, finding deals, marketing, having an operation having an office, so I spend my money, but I also do anywhere from 10 to 20 deals a month. So that’s a different operation than the most than most of you are actually trying to get started doing or even maybe trying to get more consistent at. I’ll tell you right now the way I got my first deal as a wholesaler was just banging the phones calling realtors. I called 100 realtors a day. Do you know how much that cost me $0 you guessed $0 I teach individuals that have less than a $500 month budget for their marketing and they are getting deals. There are strategies one of them I have termed the inverse profit method. That is my own term is trademark the whole thing. I actually no By the way, it isn’t trademarked. Don’t go trademark it if you’re listening this. But the point being is I created that because there is a way to make money without having to spend it. As I mentioned, most of you guys are listening to podcasts and watching YouTube videos and you’re watching everyone. So you got to do this, you got to do this and it all costs money. The number one most important thing I can tell anyone to have tool system strategy, the number one tool I will say someone needs his prop stream, if you go to https://tsofdata.com. And that’s tsofdata.com stands for the science of flipping and use promo code t so if they will give you seven days free and they will allow you to download 10,000 people list if you just go to https://tsofdata.com use promo code TSOF they will give that to you now, why that’s so important is because that is the tool I use for comping. Now the key here is understanding the value of homes but also that’s the same tool I use to pull lists. Not only are there really good motivated seller lists on there, there are also buyers lists on there. And so that’s really important because one of the key elements in the inverse profit method is the fact that you need to have good buyers and if there’s a list of buyers on there, then you can find them you can skip trace them you can call them you can send them mail in simply get in front of those buyers so that you have better buyers than everybody else. So that is the one tool that I say everyone must have and after your seven days for free. You they charge you i think is $97 a month. And that’s why I say if you have $250 or less you can be a real estate wholesaler. You just need to put in the time The key that I tell everybody is you’re going to spend money, or you’re going to spend time or like me, you’re going to spend both. But something is going to be spent. So if you don’t have the money, then you have to be spending the time to be successful. Now, the challenge I see these days when talking to students, and in people like is they actually everyone wants it now. Right? Well, I don’t have much money, but I have no time. So I want to go get a deal in 30 days. Well, that is great in some people get that done. But the challenge is, they don’t have any direction on what they should be doing. Right?
I talk a lot about this. In fact, I just did a YouTube video about coaching, the value of coaching. And yes, I’m a coach. And this isn’t a selfless plug by any means. Everyone needs coaching. If you’re just getting started as a wholesaler, you need to have coaching because you’ve never played that game. It’d be like me going over and playing cricket. Right? I don’t know how to play cricket. So I wouldn’t want to get coached to be played cricket, especially if I wanted to be an expert, cricket player. Okay. Now, this is a funny analogy. It was the first thing in my head. But that’s the idea is if it’s not me, and hopefully it is mean, if you are interested in me coaching, you go to the science of flipping.com, fill out a simple application, some of my success advisors will contact you and see if I’m the right fit. And I would love to coach you, I’d love to get you to where you want to go. But even if it’s not me, you need somebody. Someone needs to show you the path someone needs to give you the recipe on how to become successful. And so you don’t need a lot of money. You know, I just said if you had under $250 a month, could you be a successful wholesaler? Yes. Now, when you do start doing deals, then yeah, you might want to put a little bit more money into marketing and start putting some gas on the whole thing, right? become better at getting more deals done. But you don’t need a lot of money to do deals, I would tell you, as a moment in time, I’m doing roughly 10 deals a month, sometimes a little less, sometimes a little more, without spending a single dollar in marketing, not one. And if I can do it, you can do it. I just know the system. I know the path. I know the strategy, right? And that’s where coaching comes in. Right. But I’ll say all of that simply say you no matter what, no matter what your finances are, if you are committed, you will succeed. If you are patient, you will succeed. If you’re determined, you will succeed. Any of you have the right blueprint, you will succeed, as I was just mentioning, and kind of got lost in my own thought. A lot of people want something done right now I need my first deal in 30 days. And then if it doesn’t happen, they give up they quit or whatever. Or they change their strategy. They change doing what they need to be doing. consistency in persistence is going to be key. You can’t give up like tell I tell my students all the time. The only way you fail is if you give up. Otherwise I got you. So for to be a successful wholesaler, you just need to make sure you have some the intangibles. Right, which are the is the persistence, which is the patient’s not enough values given to patients, which is the strategy, which is the determination, the ability to fail and get back up. I can’t tell you tell you how many times after 14 years, I have failed, I have failed over and over again. Right. And Michael Jordan has this really great meme out there somewhere about all the shots he missed about all the games he lost. But all the times he failed and it’s a lot like you’re like wow, if you really look at it, you’re actually quite shocked about all those times. But then he just kept going right and that’s the idea is just like Michael Jordan, I’ve failed plenty and you will fail but you just need to get back up and keep going. The only thing that stops us as real estate investors or in general entrepreneurs in general, is just giving up and and stopping. And so I would encourage you if you’re passionate about this, you like this thing get in the game, put on your helmet, put on your shoulder pad get in the game, you do not I do 10 deals a month without $1 in marketing not $1 if I can do it, you can do it that is a fact and so hopefully if you are watching this on YouTube, you’ve already smashed that like button you have subscribed. If you have not and you’re over on iTunes, then get over to YouTube, smash the like button subscribe to my channel youtube.com forward slash Justin Colby and I look forward to seeing you guys on the next podcast. Peace.