Wholesale Real Estate For Beginners: 8 DO'S & DON'TS!

In this video, we cover the 8 Do’s & Don’ts of Wholesale Real Estate for Beginners! After helping thousands of people to wholesale & flip houses consistently, it’s become apparent that knowing what “not to do” is just as important as knowing what “to do” when it comes to wholesaling houses for beginners.

Whether you’re an advanced, or a beginner wholesaler, remembering & implementing one of these eight “Do’s & Don’ts” can help you to make tens of thousands of dollars more on a monthly basis while building a thriving wholesale real estate business for years to come!

👇 Here are additional resources to stack your knowledge of wholesaling!

🏠Watch our FREE Training on How To Get Started Wholesaling & Flipping Houses WITHOUT Spending $1 On Marketing Here:

Do’s & Don’ts 1 - Do not submit a real estate contract without an inspection contingency clause as a beginner.

When it comes to wholesaling real estate, an inspection contingency clause protects you if there’s anything wrong with the property that does not pass your inspection (& protects you if you can’t find a Cash Buyer in time for your wholesale deal before the closing date).

Do’s & Don’ts 2 - Do not inflate or deflate your numbers above or below what they really should be when sending wholesale deals to your Cash Buyers.

Nobody wants to work with a business partner who fudges numbers by inflating an After Repair Value (ARV) & deflating the Repair Costs needed to make a deal profitable.

Fudging your numbers will quickly erode trust between you & your Cash Buyers - and doing this just screams “Hey! I’m an amateur wholesaler & I have no idea what I’m doing!”

Do’s & Don’ts 3 - Do not wholesale houses that are only a WIN for you.

Always create “WIN-WIN-WIN” scenarios for all parties in the transaction when wholesaling a house. The Motivated Seller, the Cash Buyer, and yourself (The Wholesaler).

Do’s & Don’ts 4 - Do not speculate on the numbers of a wholesale real estate deal.

Do not speculate that the market is going to keep rising by 5%, 10%, or 20%, and then have this be the only way your wholesale deal will be profitable.

Do’s & Don’ts 5 - Do not state that you are “selling a house” as a real estate wholesaler.

As a beginner wholesaler, it’s important to understand what you’re actually doing. You’re actually selling the contract rights to buy a house, which is called the “equitable interest”, and you’re NOT selling the house itself!

It’s important to understand this distinction because “selling a house” is the role of a licensed real estate agent, not the role of a wholesaler.

Do’s & Don’ts 6 - Do not focus on several deal acquisition methods when you’re starting out wholesaling as a beginner.

The glaring issue for so many beginner wholesalers is that they try to get deals from multiple different strategies and never, ever get consistency with just one strategy because they have shiny object syndrome.

Do’s & Don’ts 7 - Do not send out the deal you’re wholesaling to thousands of potential Cash Buyers.

For the last decade, we’ve taken the opposite approach than the masses by first finding top-notch Cash Buyers who aren’t satisfied doing only 1-2 house flips per year, but by finding, developing relationships, & working with Cash Buyers who are local to the area we’re wholesaling in and want to buy & flip 5-10 houses per month! When you follow this approach, you only need a handful of wholesale buyers rather than thousands. Quality over Quantity.

Do’s & Don’ts 8 - Do not believe that every single house you submit an offer on is going to work out.

In our experience, it’s reasonable to get one wholesale deal from submitting 10-15 offers when wholesaling properties from the MLS (Multiple Listing Service) & from working with real estate agents. That’s one successful wholesale deal for every 10-15 offers sent!

So, if you send 2 offers a day on the MLS in an entire month, then that’s 60 offers (30 days x 2 offers). This equates to 4-6 wholesale deals on average/per month.

TIMESTAMPS:

0:00 - Intro to The 8 Do’s & Don’ts of Wholesaling Real Estate For Beginners
0:41 - 1st Do & Don’t
2:50 - 2nd Do & Don’t
5:11 - 3rd Do & Don’t
7:02 - 4th Do & Don’t
8:49 - 5th Do & Don’t
9:48 - 6th Do & Don’t
10:47 - 7th Do & Don’t
13:15 - 8th Do & Don’t
14:59 - How to download “The 8 Do’s & Don’ts of Wholesaling Real Estate” PDF

#WholesaleRealEstate #WholesalingRealEstate #RealEstateSkills

📝 Disclaimer:
This video is not personalized financial or legal advice for the viewer.

[ryanzomorodi]

When it comes to making money in real estate, the deals are in the details! It's not only knowing what to do when wholesaling hosues, it's knowing what not to do. Super valuable and well presented info, thanks Alex! :)

[twoputtin]

I love this training. It's real and the expectations are true. I'm a licensed RE agent. I can't wait to start wholesaling. I'd much rather wholesale than "sell" houses!! It's work but I believe it pays off in the end to have the business you can rely on for years to come!! No matter the market!

[Erika_Leal]

I'm a stay at home mom also a student and was looking for ways to help us financially. I came across your channel and immediately became interested! I'm going through the videos now in hopes to learn this. We desperately need it.

[dannyantone]

Working on my first deal n Boston Do's and Don'ts giving me great direction with no real mentor, thank you 4 your excellent teaching, everyone wants money for this and for that, thank you 4 sharing your journey

[Hondarider]

Great video, I appreciate that you did this straightforward and no bs how many others do. I actually learned a lot from this as someone who has just started to take some interest in learning about wholesale real estate, for me videos like this make me more enthused to learn since it’s not full of useless rants and crazy dramatic edits and stuff trying to make you wanna buy their course and gatekeeping info saying to buy their course to learn more. Ofc this is general info but still it’s good. thanks for the info

[dedescreations]

Your instructions in this video are very clear; thank you!! I have subscribed and look forward to more videos👍🏽👍🏽

[zuleika]

About to begin my journey in wholesaling, this was very helpful! Thank you 🙏🏼

[adrianagibbs]

Thank you you are rely good explaining the process

[Rashida_TX]

I'm so happy I found this channel. I'm just getting started...well learning. Can't wait to dip my toes in and start wholesaling.

[noahhaener]

Paul Mccomas inspired me to start, but your info is out cold.. absolute crucial free information being provided here.

[collinbaptiste]

Alex, you're a flipping genius, bro 👏🏾

[mariasimmons]

this was pie of pie that's what I was missing from completing a deal. Six months in and finally able to see success. Thank you for the information. Do you have a video that shows the format for the ARV?

[WillPowerRehabFlipSpecialist]

Great content. Just got into Wholesaling (6m) here in Atlanta and this makes complete sense. On point. 🕶👍🏻

[Sosa-osyz]

Strait 🔥- Timeless principles to live by! Thanks, Alex!

[OfficialDeeTeaPodcast]

A question- as a wholesaler, do you get your own inspector for the property? If so, how do you find inspectors and do you need different inspectors for plumbing, electricity, roofing, etc.?

[gerardorobles]

You should make a video on how to write the contracts or show templates

[andygaught]

Really well structured video and explained really clearly...

[debbieparsons]

OMG I am loving all of your videos! I love your process to wholesaling using the MLS and finding buyers FIRST! I've started to make my connections, attending local meetups and will be starting to evaluate properties next week. I have just a few loose ends I need clearing up. You talk about having the inspection contingency clause in the contract but never actually mention the inspection. Are you paying for a professional inspection with every property or is this just you yourself looking it over?

[trevorford]

can you do a video on the process of getting paid? and also a video on exactly what to say when calling your cash buyers?

[boujieekashmere]

Can you talk more about ARV, calculation of arv & repairs . & how to find the best deals ?