Why 95% of Wholesalers Fail This Year | Wholesaling Real Estate
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Why 95% of Wholesalers Fail This Year | Wholesaling Real Estate


– Hey everyone, it’s Max Maxwell, and welcome to another YouTube video. I know I’ve been a little
bit absent with YouTube the last couple weeks as far as uploading some regular
videos, some tips and tricks in a vlog, but I promise I’m
working on getting consistency. Frankly, I’ve been busy, working on a few projects at
the beginning of this year, getting things rolling for
my wholesaling business and one thing we’ve kind of been doing is implementing some new exit strategies for properties and leads that we’ll get. For example, we mainly did a
lot of wholesaling in 2017, now we want to carry on
and do some other things as far as like hoteling and more rehabs and more things like that. So for example, we’ve
got this campaign going where it’s like no lead left behind. we want to be able to help
the lead no matter what, whether that can be just wholesaling the
property or all the way to just referring it and
getting it listed on the MLS with Francis who is our
in-house real estate agent. Right? So that’s what’s kinda
been keeping me business. But I know you’re probably lookin’ up and lookin’ at the title of
this video and saying what? Reasons why most and 95% of
wholesalers will fail this year? Well, this was on my mind. I just wanted to get this out there since we’re still kind
of in the first quarter of the new year, and I wanted to say, here’s what the reality of wholesaling is. And I’m gonna give you my reasons why I think 95% of wholesalers that have started this year or last year will not be wholesaling by
the end of the year, okay? First things first. Wholesaling and real estate investing is not a get rich quick scheme, guys. And I notice people going
around in these hotel lobbies and meeting rooms and trying
to tell you that this is place where you can build wealth. Yes they are correct. How fast? Kinda depends on you. Right? You can get your first
deal within 30 days. I did. It was three weeks and
I got my first deal. But my persistency, my persistence with
this was actually crazy. So you can do the same thing. You just have to be persistent, right? So, number one, it’s not
a get rich quick scheme. All right? Moving on to number two, you’re truly not obsessed
with real estate. And what I mean by obsessed. I mean when you’re with
your family members, your spouse, your friends, and you’re talking about
real estate too much and they tell you to shut up, that’s when you truly
know you’re obsessed. If you’re not listening to
every podcast in our downtime, searching YouTube for videos on how to do this and how to do that, reading a book on wholesaling, reading a book about rehabbing, reading a book about, just actually studying your market. Just going on your tax
data assessors website and just searching and
searching and searching? If you’re not doing that
you’re not obsessed with it. And remember the person
that is obsessed with it is probably gonna be the
one that is successful and still doing this at the end of 2018. So if I were you and you’re
not really obsessed with this you probably should move
onto something else. Now ding ding ding, number three. A big factor is consistency. A lot of people are
looking for what they call the magic bullet when
it comes to marketing and finding leads,
finding motivated sellers. And listen, this business is
not really that difficult. Finding motivated sellers
and leads is not that hard if you really just put your brain to it. But first and foremost,
you need to be consistent with whatever marketing channel you’re actually going to do. For example, if you’re going
to be doing door knocking, if you’re gonna be doing PPC, if you’re gonna be doing cold calling, whatever you’re doing, you can’t give up after week
one, week two, or week three. This business needs consistency so that you are able to
get leads in the pipeline. And that’s really the majority a lot of our actual deals come from. You don’t actually, it’s very
rare that you call somebody and on the first time
you get an appointment and you book it, you get the house. Right? Those are the unicorns in our business. It doesn’t happen that often. This business, the majority of the leads from last month or two months ago end up being leads today. It’s called the pipeline. So you need some time to
build up your pipeline and be able to get leads that
you’ve nurtured over time. That’s call consistency, all right? And another huge one, real estate, this game, really any sales, any sales job you’re in ever, is all about the followup. You have to follow up with your leads. And that plays on the last one, which is consistency. Following up with your leads
allows you to have a pipeline of people to talk to. And just because three months ago when you sent that postcard, made the phone call, and they weren’t actually motivated then, things change now and they
actually could be motivated now. So here’s what I would say. Be consistent and do your followups. Your followups will
actually give you so much when it comes to the leads and your flow of your business. Because, like I said,
majority of our deals are from three or four months ago and now coming in now. All right? And then here’s one that
you’ve probably heard if you’ve watched any other
YouTube video or podcast, and it’s called analysis paralysis, okay? This is where you are actually
watching YouTube videos like you’re watching me right now, and you keep watching me next week, the week after, all of that, you’re on my YouTube
channel, my Instagram, my Facebook page, you’re
reading books and podcasts, and you never actually get started. You don’t have the confidence in yourself to actually get started. That is what we call analysis paralysis, and it defeats many wholesalers or real estate investors before
they actually get started. I tell you what, I make mistakes every
week in this business. In my business we don’t
have a magic bullet either. I try and test things to
see what works consistently. So things that I’m doing
I need to put it in motion over and over again, and if it doesn’t work then I move onto the next marketing strategy. So don’t get caught up
in analysis paralysis and feel like you need
to be a complete expert when it comes to real
estate in order to make a wholesaling, or in order
to make a lot of money wholesaling or investing in real estate. I’m telling you, you don’t do that. And for that, don’t become
analysis paralysis rat. I’m gonna give you a thing to do since you stayed at the end of this video. If you’re new to
wholesaling here’s my task, and I want you to comment once
you find out below, right? Whatever state you’re in
I want you to find out if you’re a tax lien
state or tax deed state, and then I want you to find out how often your county that you live in actually holds tax sale auctions. All right? So comment below if you’re
a tax state, tax lien state or a tax deed state, and also tell me how often your county has tax auction sales. All right guys, so this is Max Maxwell. Thanks for watching my channel. I promise you I’ll be more consistent when it comes to these YouTube
videos over and over again. I’m just taking a break from something. You can see I’m usually not behind this pretty white background and
all these lights shining on me. I’m usually out in the field
and you get to see that. But I wanted to drop you this video. So actually comment below what I said. Don’t get stuck, don’t fall in the trap, and don’t be part of the 95% that will be watching this video next year that will no longer be in wholesaling. All right guys, so take care, keep rockin’, and I’ll see you in the next video, later. (upbeat music)

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