Can I Wholesale Real Estate By Myself Or Do I Need Partners?
Can I do this business all by myself? Today's answer is a Yes and No answer! And this is what I mean:
YES you can do the 2 primary functions of a real estate wholesaler yourself. And the 2 primary duties of any successful wholesaler is his ability to:
1.) Find great wholesale priced real estate owned by motivated sellers
2.) His ability to build an Investor/Buyers list, those individuals who will continuously purchase every investment property that he will put under contract with the motivated sellers!
These 2 major functions of wholesaling can be done by just the wholesaler himself if so desired, or they can be outsourced to others once the wholesaler has built his business a little larger.
And here's why the second half of the answer is NO, and why a wholesaler can not wholesale without business partners involved with his deals:
Wholesaling is a people business! And, there are several key players involved in a real estate deal. You are going to need what I call the POWER TEAM to assist and protect you while your wholesaling!
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The Individuals on the "Power Team" all play key roles in what is called the "Deal Pipeline". Here are the major players on the Power Team that assist in this deal pipeline:
Appraisers Real estate Attorney
Title Company Agents Hard Money Lenders
Real estate Agents Your Web Master
Mortgage Brokers Contractors
Marketing Contacts Your MENTOR (of course)
Insurance Agents
And each player on the Power Team must be in tune with what the heck your doing as a wholesaler. So not just any person can become part of your team. Wholesaling houses is a little out of the ordinary as far as real estate investing goes. So you need to interview all of your Power Team candidates to make sure they are a "good-fit" for your business model.
I have dad to dismiss many potential players that for one reason or another did not fit my style of investing. So there is a short training period to make sure that ALL players on the team are on the same page when it comes to getting a wholesale deal closed effectively.
So even though these individuals on your Power Team are not necessarily partners on paper, I consider them part of my wholesale team and I would NOT be able to do multiple deals per month without their involvement in every deal I do!
To maximize your ability to do multiple deals every month like I do, you will need the assistance of other people. Some "guru's will over simplify wholesaling and will not even talk about these other players. But I'm here to tell you all successful wholesalers have a Power Team working along side them or they would not be successful! Booya!
More Free FAQ videos here? www.WholesalerSmarts.com
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by: Eddie Case