Is it time to stop preparing, and to just start wholesaling real estate deals?
A top nutritionist recently called out many of those who claim they want to eat better and get in better shape this year. Her advice? Stop preparing to eat well – just do it. That can certainly apply to real estate wholesaling and all forms of investing too.
The problem is that many people spend way too much time in preparation. So much that they never get any results. When it comes to health and fitness there are so many vision boards in homes, cooking tools that are collecting dust, treadmills that are rusted, old recipe books, and dumbbells that are being used as doorstoppers instead of exercising. We love to plan. We love to get the devices and gadgets, get the clothes, and set goals. Then what?
So, when it is time to stop preparing? When is it time to start doing? Where do you start taking real action?
You Need to Prepare
When it comes to your health or real estate investment, you do need to prepare. You need to know what you are doing. You need to know how to eat and workout smart so you don’t get injured, or actually get yourself in worse shape. In real estate you want to understand what makes a good deal, and how to pass it on to the next player.
You should have a basic idea of the mechanics of buying and selling homes, your local real estate laws, contracts, and where to find buyers, sellers, and lenders, and marketing. However, at some point you really have to put it into play.
Nothing Happens Until You Take Action
Some people have been preparing to do real estate deals for years. There are real estate agents who have never done a single transaction. There are ‘investors’ who still haven’t made offers. Learning is great. It is necessary. But if you just keep waiting and using it as an excuse then you will never make any money or enjoy any of the time freedom rewards that real estate can deliver.
It’s also important to know that while there is a lot to learn in real estate, things are constantly changing. You’ll never know it all. So much of the volumes of books, CDs, and online articles out there are well out of date. In fact, some are so out of date that what they teach is now illegal.
If you are serious about wanting the success that real estate can deliver, you have to draw a line in the sand, put a date on the calendar, and commit to start taking action. Period. Fortunately, real estate wholesaling is one of the best and fastest ways to get into the game and for getting quick results.
There will always be more to learn, and you may not know all the steps or pieces of the puzzle yet, but don’t let that stop you from stepping forward.
So where do you start?
10 Things You Can Do Today To Start Wholesaling Real Estate
- Cycle your neighborhood, look for FSBOs, and distressed property, get the addresses
- Write a letter or create a postcard to send to buyers, sellers, renters, or private lenders
- Get a list of buyers, sellers, and lenders
- Send an email to prospective clients, referral partners, friends and family
- Contact 10 lenders to get qualified for lines of credit
- DM your contacts via Instagram or Twitter and let them know you are in the game
- Meet with someone who you can partner up with on a deal
- Book your place at an event, networking evening, or local meetup
- Give out 10 business cards and ask for referrals
- Make 10 offers on properties, they can be random, extreme low balls if you need to
Now is the time to take action and start doing deals. You should be prepared. But you can earn and learn too. Make today the day you change things. Mark it on the calendar so you can look back and point to when your life really started changing for the better. Then take as many of these 10 actions as you can.