Wholesalers Beware! Lists like These Will End Your Career...

TL;DR

Avoid these 7 lists if you want to be a successful wholesaler, as they can lead to failure and career-ending mistakes.

Transcript

wholesalers beware these seven lists will end your wholesaling career faster than doing any other list for wholesaling if you want a One-Stop ticket to actually failing and wholesaling these are going to be the lists that you should do now you're watching this video because you actually want to become a successful wholesaler and what I'm specifical... Read More

Key Insights

• 🥺 Focusing on the wrong lists can lead to wholesaling failure.
• 🗯️ Utilizing the right marketing channels is critical for success.
• 👂 Avoid putting all eggs in one basket and diversify lists for better results.
• 🤩 Consistency and patience are key in wholesaling.
• 🥶 Don't rely solely on free or cheap lists; invest in quality data providers.
• ❓ Expired listings often involve sellers with unrealistic price expectations.

Questions & Answers

Q: Why should wholesalers avoid focusing solely on pre-foreclosure lists?

While pre-foreclosure lists can be profitable, many wholesalers fail by using the wrong marketing channel, such as cold calling. It's important to use alternative strategies like driving for dollars, text blasting, or direct mail to reach these motivated sellers effectively.

Q: Can Zillow for sale by owners be relied upon as the main list for wholesaling success?

No, Zillow for sale by owners is a great starting point, but it shouldn't be the only list wholesalers utilize. It's important to diversify and explore other lists that require more effort but offer better results, such as government lists or paid lists.

Q: Why is wholesaling MLS properties often a challenge?

Wholesaling MLS properties comes with several obstacles, such as dealing with real estate agents, sellers looking for top dollar, and handling closing costs. While dual agency can be a good option in some states, it requires making numerous blind offers and investing significant time compared to off-market deals.

Q: Why is it a mistake to focus solely on probate lists?

Probates can be a lucrative list, but wholesalers who exclusively focus on it are susceptible to failure. Probate deals take time and involve legal processes, which can discourage those seeking quick results. It's essential to diversify with other lists and maintain consistent follow-ups.

Summary & Key Takeaways

• Wholesalers often get overwhelmed by the various lists and marketing channels available, so it's important to focus on 1-2 strategies at most.

• The 7 lists that commonly lead to wholesaling failure are: pre-foreclosures, Zillow for sale by owners, on-market MLS properties, probates, blowing the budget on a paid list, Fiverr lists, and expired listings.

• It's crucial to avoid these lists or use them strategically in combination with other sources for successful wholesaling.