So you've obviously seen or heard the hype around wholesaling real estate. Is it legit? Are people really doing multiple 6 figure months and building businesses around this strategy? Or is this one of those scammy-type loop holes that people make a boat load of money doing then end up getting in trouble?
My name's Earon Bevans. That's me trying to look as cool as possible in the cover photo. I'm actually kind of a nerd. I've always wanted to be an entrepreneur. After failing multiple business ventures and wasting a ton of time and money, I stumbled across wholesaling real estate and became absolutely OBSESSED.
I stumbled my way to a multiple 6 figure wholesaling business by 28 years old. Wholesaling changed my life so drastically I decided to create a community helping others to generate money wholesaling real estate just like me. Every deal me or my students closed validated more and more why I love running a wholesaling business. So for those curious about whether wholesaling real estate is for them: Here are my Top 7 Reasons you should own a wholesaling business:
#1 - Low Start Up Costs
Most businesses require 10s of thousands of dollars to start up and gain traction before being profitable. Yikes. But, If you follow a proven path and focus on the right things weekly in your wholesaling business, you can begin generating a profit relatively quickly when compared with start up costs across different industries. PRO TIP: You don't need to waste a boat load of money on your logo, website or LLC getting started. With less than $500 you can get solid traction if you're willing to stay focused and put in the daily effort into talking to leads.
#2 - Massive Cash Flow Potential
Discounted real estate is in MAJOR high demand by our customers (investors and rich property buyers). Plus our deals have equity enough to generate profit for our end buyers. So wholesaling is INCREDIBLY LUCRATIVE because our customers are willing to pay us large assignment fees for these discounted deals. It is not rare to see a new wholesaler generate near or more than 6 Figures within their first 24 months of starting. That's INSANE when you consider that if you make 6 Figures or more in a year you are a TOP 10% earner in the country. You don't have to be a math genius to see why wholesaling is so exciting to me. The start up and overhead costs are minimal and the revenue potential is powerful, making for incredible cash flow potential.
#3 - You Can start from your Kitchen Table
Let's face it! We live in a new world and a new age where the line between business life and personal life is blurred. That's why I love wholesaling, it's flexible enough to start from your kitchen table. As long as you have a phone, a computer and wifi connection, you are good to go. Obviously it's a business, so it requires effort and discipline, but the flexibility is a must for someone who lives a real life while running a business in today's Age.
#4 - Discounted Real Estate Funnel
This is one of my favorite things about this business. People love to look down on wholesalers because for some reason they are not aware of the value we bring and hard work we put into locating discounted real estate deals. Nevertheless, wholesalers end up with the last laugh because as we begin to make money, and lots of it, we now have a pipeline of discounted real estate in our wholesaling business that we can cherry pick from to Flip, Rent, BRRR or choose any exit strategy we have learned along the way. We are the PLUG. The APEX investor.
#5 - Wholesalers ALWAYS have Customers
So many people love to speculate about what will happen when the real estate market corrects and how that will negatively impact wholesalers. I'm calling that bluff with full conviction. They told us the same thing during corona virus and I saw wholesalers crushing it all through 2020. They said the seller's market in 2021 would wipe us out and we're closing more deals than ever. The point is when the market dips, buyer's will still buy, just at a lower price. As long as people are buying real estate (which is always because people buy in good and bad markets) we will always have customers to buy our product (a nice juicy assignment contract with a whole lot of equity and meat on the bone)
#6 - B Quadrant Capability
One of the biggest things critics of wholesaling get their underwear in a bundle about is the fact that wholesaling real estate is still "transactional money". In other words it isn't passive, and if you don't work you won't make money blah blah blah. It's true. But the fact remains that wholesaling makes A LOT of money. And if you're wise, you would find a way to automate your processes and delegate the tasks so that you have a multiple 6 figure a year business bringing wholesale real estate to your desk DAILY.
#7 - It's the Golden Gate into the World of Real Estate
I believe a person who becomes a skilled wholesaler has potential to become the APEX investor. A Force to be Reckoned with. Wholesaling as a concept is fundamental to the world of capitalism and economics. Buying low and selling high is common sense. So you would think. Sadly, many investors, flippers, landlords & owner finance buyers lose their tails on deals because they just didn't buy the property right or structure the deal properly. As basic a skill as negotiating a deep contract is, it's a skill that serves the dedicated wholesaler well throughout his investing career and into heights of achievement he may not have imagined.
Of course, as an advocate for Entrepreneurship and Business Ownership. I believe every wholesaler should dig his feet down into building a "B Quadrant" business for maximum cash flow and investing power. To each his own. In the end, the world of real estate is designed to make all those who crack it's code incredibly wealthy.
Let me know how your journey is going!
- Earon Bevans