I know when folks are getting started in real estate investing it’s easy to treat it like it’s a hobby. And it might be for some – especially if you have another career and investing is a side business. But with Wholesaling, you need to treat it like a job and a business, because it is.
Buying rental real estate is a great way to earn passive income and we should all strive to earn as much passive income as possible in our lives. But there is nothing passive about Wholesaling. It’s work and that work needs to be taken seriously. That’s why you need to be a “Pro” when it comes to your Wholesaling business, or else it probably won’t work out for you.
A “Pro” or Professional does the work and takes it seriously. And more than likely a “Pro” is consumed by striving to be successful. To use a football analogy, think about Tom Brady and Peyton Manning, those guys are “Pros”. They are consumed by winning and being the best. They wake up and eat, drink, and sleep football. They game plan meticulously with their coaches and teammates. They watch game film. They practice their plays, over and over and over. They are focused on learning and getting better. They are role models and leaders for their teammates because they are usually the hardest working guys on the team. They put in the time it takes to be a “Pro”. Would you agree? Hopefully you know who Tom Brady and Peyton Manning are.
So to turn the analogy back around to a Wholesaling business, we know we better step it up if we are going to be “Pros”. We need to get up earlier and work later if we have to. We have to consistently be putting out our marketing – which is the lifeblood of our business. More marketing = more deals! Whether it’s letters, postcards, bandit signs, door hangers, internet marketing – we are focused on getting that marketing out every week. We always need to be networking and building our buyers lists. Get in front of as many people you can and let them know what you do and what you are looking for, and how you can help them as well. We need to be meeting with sellers and buyers regularly. We need to be out looking at properties and finding and analyzing deals.
Be sure you are motivated enough to commit to being a “Pro” by having your “end” in mind (see last month’s article). Write down your goals and aspirations and then work the plan to get there. Your goals and aspirations should motivate you to get out of bed every day and want to kick some butt in real estate. In Wholesaling you really need to have a big “Why” because it’s not easy in the beginning. You will need to fight thru the early bumps and “learning on the job” and stay consistent with your marketing and networking. If you commit to being a “Pro” in Wholesaling and stick with it, you will find success. So commit to it now if Wholesaling is what you want to do. There is no ‘just dabbling’ in Wholesaling if you want it to work out. Nobody wants to be a Wholesaler their whole lives – so kick butt now, make a bunch of money, then put that money to good use. Buy real estate ideally – anything to produce passive income. Good luck and let us know how we can help!