Wholesaling Works: The Great Escape Episode 1 (Part 7)

Wholesaling Works

This is a continuation of “The Great Escape” interview with Eric Thiele. Eric is working with Sean Terry and Flip2Freedom.com to learn how to start up a successful wholesaling business.  In this section, Sean and Eric discuss staying committed to your wholesaling business.

Sean: Now we’ve got the realtor–make sure they’re NAID registered. We’re going to the REIA meetings and going to the auctions. You guys have got to understand, Eric runs a full-time gig. It’s full-time. He’s on-call 24/7 with his computer consulting business that he has. He has a list of everything he wants to accomplish for his day. He was telling me earlier that he can’t even get to that stuff because it’s total chaos because of everything he’s got. When it comes to time, Eric, how do you see yourself being able to do this?

Eric: Well, Sean, this is the top priority in my life to get out of this chaotic consulting situation that I’m in. The only obstacle is myself and how much time I invest. I plan on investing every spare moment of time. If I’m not working on my consulting gig, then I’m going to be working on developing a wholesaling business.

Sean: You notice what he said there, which is incredibly important, is that he’s putting a priority on this. Obviously, there’s the chaos stuff with this networking, but what he can do is, if you put a priority on it–because twelve months from now, he’s going to be done with this- he’s not going to be dealing with that life anymore. He’s going to be having his wholesaling business where he can come and go and do things that he wants to do—not have such a time-intensive business that pretty much runs his life. He can actually set up the business or run his own business. He can do whatever he wants to do.

That is obviously the goal to accomplish. He’s going to make the time. That’s the attitude that you want to have when you’re doing this, to be able to make a commitment that you’re going to do this. I see so many people that want the lifestyle, they want the freedom, they want to do it, but, boy, when it gets in there–it’s just like going to the gym. When you go to the gym, you go, “Oh my gosh, it’s the first of the year. I’m getting skinny this year. This the year I’m getting in shape.” Then you go in there for a couple of weeks, and maybe you’re not that committed. Something comes up—you’re too busy and next thing you know, you’re not going to the gym.

A lot of people do that when it comes to getting involved in real estate. They say, “Okay. I’m going to do this. This is great. I’m listening to the podcasts. This is incredible.” Then maybe they put up some marketing or talk to some buyers, but all of the sudden they fizzle out because that commitment isn’t really there.

See “The Great Escape Episode 1″ Part 8…

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