Unconventional Wholesaling Tips: Wait to Invest
They say that “Fortune favors the bold”, but perhaps fortune favors the wise even more…
Most real estate investing programs, courses and gurus focus their message on “now, now, now”, but could pausing and waiting to invest actually be the best move?
This certainly may be one of the most controversial of wholesaling tips you’ll ever come across and it will certainly ruffle some feathers in the industry; at least those of the ones that want your money right now. However, there are some good reasons to think about it.
Isn’t wholesaling houses super easy? If so why would anyone want to wait?
Perhaps one of the biggest mistakes of investors in the last boom was not waiting. They rushed in, uneducated. Some just as now are crashing and burning on their first deals and are far worse off financially than they were before. Others enjoyed huge success, made many millions and then lost it all and more because they got caught off guard by what they didn’t know.
Perhaps it is wiser to wait until you have more information and a plan?
What about missing out on the advantages of the current housing market? This is a great time for flipping houses, that is for sure. However, advantages like low home prices and interest rates don’t matter much for wholesaling homes and flipping. There is always money to make for wholesalers whether it is like this, the market is peaking and going interest rates are in their double digits or the housing market is free falling into a bottomless pit.
But there is no risk in wholesaling right? There may be very, very little if done right, but you want to make the most money possible, right? Isn’t it wiser to work to minimize any potential risks and build a business model that is sustainable and can grow big and last for the long run without any fears of it failing apart later?
While this may sound like most unconventional of wholesaling tips ever and you probably will never, ever hear it anywhere else, give it some thought. This doesn’t mean that you have to wait forever, not even 4yrs to get a college degree. But certainly there is some wisdom in gaining more knowledge first, getting practical advice on executing flips and taking the time for forging a business plan that will be highly successful or the long run.
Don’t confuse this with putting off investing because you are afraid or lazy; this is different, and perhaps it is just a matter of waiting a few weeks providing you get the right guidance. Or maybe you do have all the know-how; then you should be out there wholesaling, not reading this article.
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