WHY WHOLESALING IS A FLAWED BUSINESS MODELJan 08, 2019
There I was, in the bathroom of the grocery store.
Hiding from my job as the “produce guy”...
And quickly reading another chapter of Rich Dad, Poor Dad.
Who else has read this book? It BLEW ME AWAY the first time I read it.
I realized it was my ticket out…
My solution to the problem I’d always had.
TRADING MY DAMN TIME FOR DOLLARS!
(That’s why I justified taking so many “bathroom breaks” at my grocery store job)
I knew that the sooner I could read (and implement) what was in that book…
The sooner I’d be free.
Naturally, I saw real estate investing as my solution.
Even non-investors know that the easiest and most passive income...
comes from rental properties.
So I attended my first “REI” meeting and declared my goals.
The seasoned investors in the group said “So you want to be an investor, but you work at a grocery store and have no money?” “Yup”
“You ought to start out wholesaling. That’s the cheapest and easiest way for a beginner to get started with little to no risk”
Naturally, I took their advice. I was a newbie and would do anything I was told.
I decided to keep my goal of buying rentals “long term”.
After about another year of being a “bird dog” and finding deals for small finders fees, I did my first wholesale deal on my own.
I was hooked, and I quit my grocery store job for good.
Over the next 3 years, I got a foot-hold in the wholesaling business.
I scaled our revenue, hired employees, and systemized.
All the stuff I was told to do.
But something was bugging me.
I kept thinking back to reading Rich Dad, Poor Dad in the bathroom of that grocery store...
And creating the goal of PASSIVE INCOME for myself...
So that I could STOP trading time for dollars.
Here I was, 4 years later, doing all this “real estate investing stuff”...
STILL trading time for dollars...
Literally no closer to my goal than I had been at the grocery store!
I was FED UP.
I was tired of meetings, management, stressing about our marketing and sales processes…
I wanted some space, some actual freedom….
To do what I actually wanted, for once!
That’s when I put my foot down.
I decided that the primary focus of my business would be to generate passive income.
I decided to stop delaying my dreams.
Magically, when I made that shift inside of me….
I started looking at deals in a different light.
“How can I keep this, versus wholesale it?”
I started to get creative when it came to finding funding for deals.
Naturally, when I dug in, I discovered all kinds of options…
That had been right under my nose all along.
It was that shift in my INTENT that changed everything for me.
Within about 3 years, i had acquired enough rental properties…
To 100% pay all of my bills.
And what did I do then? Well, I decided to shut down the wholesaling business FOR GOOD.
So many people get into real estate because they have dreams of passive income…
Yet, when the pull back the hood, they discover ALL TYPES of options within the RE investing world.
It’s intense, and shiny object syndrome is a real problem.
(Ask me how I know)
Looking back, if I could do it all over again…
I would have skipped wholesaling and flipping (did I mention that we did that too?) all together…
And went DIRECTLY towards my goal.
I understand you may believe that it isn’t possible for you.
You have a story you’re telling yourself (and believing).
It probably goes something like this:
“I’ll buy rentals when I have the money”
“My market is too expensive”
“I don’t want to deal with tenants”
Etc, etc, etc.
I can promise you, right here in this moment, that all of those stories are BULLSHIT.
No offense, I believed them too, for years.
I’m writing this email to SAVE YOU those years…
So that you can get straight to what you really want…
P.S. - I’m launching a super affordable group coaching program in about 3 weeks where I will hold the hands of a small group of people and walk them through the exact process I use to buy rentals…
Click here to sign up: http://bit.ly/GetYourFirst12Houses