Summary of "How to get ahead of 99% of all Wholesalers Even if you're new"
Summary of Key Financial Strategies, Market Analyses, and Business Trends from the Video:
Main Theme: The video focuses on how new wholesalers can outperform 99% of their competition by adopting the right mindset, mastering marketing, and committing to consistent hard work rather than seeking shortcuts.
Core Financial and Business Strategies:
- Reject the “Easy Way” Mentality
- Motivation is common but temporary; it only shows the highlights, not the hard work behind wholesaling.
- The "easy button" or shortcuts (like buying cheap courses or relying on alternative strategies such as creative financing as a substitute) ultimately lead to failure or wasted time.
- Embrace the hard work as the real path to success, following the stoic philosophy "The obstacle is the way" (Marcus Aurelius).
- Wholesaling is a professional real estate sport requiring grit, resilience, and a willingness to face rejection.
- Master Marketing as the #1 Skill
- Marketing is the most powerful skill in wholesaling and directly correlates to control and profit.
- The wholesaler who finds the lead controls the deal and can command better terms.
- Outsourcing marketing too early or relying on others leads to loss of control and diminished profits.
- Effective marketing strategies include:
- cold calling (legal and highly effective)
- Texting (more challenging but scalable)
- driving for dollars and reverse driving for dollars
- Using government lists for lead generation
- Managing and owning your marketing list is critical to long-term success.
- Consistent Action and Discipline Over Motivation
- Motivation fades quickly; discipline and consistency are what sustain success.
- Discipline thrives on regular, consistent work, not bursts of enthusiasm.
- Wholesalers must persist through rejection, failed deals, and setbacks by learning and growing rather than quitting.
- The average wholesaler fails because they are weak, lazy, or unwilling to put in the work.
- Practical Steps to Get Ahead:
- Commit to wholesaling seriously and avoid treating it as a side experiment.
- Hunt for motivated sellers through active marketing and outreach.
- Help sellers solve their problems by putting properties under contract.
- Wholesale contracts to cash buyers and repeat the process.
- Avoid shortcuts like novations or creative financing as substitutes for wholesaling.
- Use resources like freehwholesaling.com for training, scripts, contracts, and updated marketing systems.
- Aim to get at least five deals under contract to build momentum and credibility.
Methodology / Step-by-Step Guide:
- Step 1: Stop looking for shortcuts; accept wholesaling is hard work.
- Step 2: Master marketing yourself; do not outsource it prematurely.
- Step 3: Use cold calling, texting, driving for dollars, and government lists to find motivated sellers.
- Step 4: Get five quality deals under contract to build experience and cash flow.
- Step 5: Sell contracts to cash buyers ethically and transparently.
- Step 6: Develop discipline and consistency to overcome rejection and setbacks.
- Step 7: Continuously educate yourself with reliable resources and refine your marketing skills.
Business Trends & Insights:
- Wholesaling remains a lucrative real estate strategy when done ethically and with proper marketing.
- Many wholesalers fail due to lack of discipline, weak marketing, and chasing shortcuts.
- The market rewards those who commit to the grind and maintain control over their lead generation.
- Outsourcing marketing without understanding it leads to loss of business control and profit.
- creative financing is a complementary skill but not a replacement for wholesaling.
Presenters / Sources:
- Presenter: Rick (associated with freehwholesaling.com)
- Mention of collaborator: Zach (co-developer of the updated wholesaling system)
Overall, the video encourages wholesalers to embrace the hard work, master marketing, maintain discipline, and use proven wholesaling methods to outpace the majority of competitors.
Category
Business and Finance
