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Wholesaling Homes Startup Needs

June 24, 2017 Blogs

Real Estate Agent

   In the beginning of your real estate investing journey the need for a real estate agent is huge! Yes, I know you’re wholesaling houses. But the need for a real estate agent eliminates some costly overhead fee items such as, software or apps to get accurate comps, list of recent buyers in the area you’re Investing, listing of off market properties, and help with finding a good title company. Believe it or not the cost for software and apps can quickly get into the hundreds of dollars. There’s more advantages to having a real estate agent on side but for now we’re focusing on just getting started to wholesale real estate as your means to create financial freedom.

     Honestly, finding a local real estate agent sounds easy enough, right? WRONG! You are a wholesale real estate investor so you need to determine if you are potential competition or potential benefit to the the real estate agent you are contacting in your area and you need to be clear about what it is you’re asking of and what it is you can be of assistance with in their line of work (ex.: You have a difficult time with a seller meeting your offer. This can be a property you can refer the real estate agent to along with the number the sellers is asking- which is likely below market but not enough for you to get the deal done. This would be a coup for the real estate agent because the could be potentially list the property on the MLS for lower than market price thereby, selling it quickly and collecting their commission.)

     Do your due diligence when searching for a local real estate agent to work with. It goes without saying that every real estate agent is not in good ethnical standing and one very good place to start is asking for two or three client referrals whom the agent has dealt with. You can begin your local real estate agent search several or all of the following ways:
Facebook.com (join real estate groups); biggerpockets.com; connectedinvestor.com; or referrals from someone you know that’s used a real estate agent to help them purchase or sell their real estate property.

     If you find the information herein helpful please leave a comment, like, or contact me, even if you have some information you’d wish to share. Your feedback is valuable and greatly appreciated!

ENERGY

      Hi!, My fellow newbie REAL ESTATE INVESTORS. In such an appealing field as real estate investing there is lots of commentary focused at newbies. However, it’s very easy for the appeal to fade off as the translation from commentary to results just isn’t happening. If this is you, cool – no need to fret, just stay with me.
     First, let me share something personal with you. The other day I was speaking with a fellow real estate investor I consider a friend, as well. We speak daily and our communications had taken a noticeable drop-off. When we finally caught up with one another she spoke some words that I dreaded to hear from her: “I’m trying to think positive and stay with real estate investing”. I was hoping to hear: “I’ve been on vacation since closing my last deal”. I know she works hard and I know she has the strongest WHY I have ever heard from anyone to this point when asked what’s their reason for wanting to become a Real Estate Investor. Do you see the problem with this picture, yet?
     Your WHY is your motivation. It’s your ENERGY to weather any storm.  Your WHY can be positive, negative, or mixed with both but it must be real to and it must be your WHY (not your friend’s, not your mom or dad’s, etc…). Your WHY can be from something you fear or something pleasurable you want. If it’s not real or your’s it will fade. Now my friend has these boxes checked so I was in deep thought to uncover what was happening here. That’s when Robert Kiyosaki’s words from Rich Dad Poor Dad came back to me. He too hit a point where he wanted to give up but a phone call discussion that reminded him of his WHY supercharged his ENERGY and as the saying goes, “the rest is history”.
     So, as you newbie real estate investors (and experienced investors) have found out that Investing isn’t an overnight get rich field. It begins as a hustle for yourself then, turns into your business as you craft a system that works even while you’re doing something else. As you see from this personal encounter I have shared, you will face storms on this path to financial freedom. But have someone that can remind you of yourWHY or have it written down somewhere so that you can see it and be reminded. Now my friend is going to be just fine because, like I said before, she has the strongest WHY I have ever heard. Today she doesn’t even remember the feeling (storm) that passed over her.
I want to encourage you to not think you’re alone when the results aren’t happening the way you think they should. Review your steps against the proper steps to make sure you’re on point. It’s understandable that you may have to tweak here and there but don’t try to reinvent the wheel.
Ultimately, we need God first. The next Wholesaling Homes Startup Needs are Your WHY! Take some time, get off to yourself and reflect, deeply. This will become the root of your ENERGY* so it must be done first.
If you’d like to share your experiences/advice email me arrington@pylato.com or you can leave your info, along with any thoughts and suggestions, in the comments section and I will be in touch. Have a blessed day!
COURTLINLASHAWN ARRINGTON
*Note: ENERGY is one of the 3 success factors. Be on the lookout in upcoming blogs for the 2 other success factors.
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