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REIClub | Real Estate Investing PodcastAuthor: REIClub.com George Uno
Learn how to start or scale as a real estate investor, get your questions answered (email them to george@reiclub.com), and learn from the pros' and their house flipping disasters. Sign up for a free account at REIClub.com/pod Language: en Genres: Business, Education, How To, Investing Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Wholesaling Beginner Blues (Michael McDonald)
Episode 16
Wednesday, 20 September, 2023
I have to confess that I'm guilty of this. Wholesaling houses is often presented as the easiest way to get into real estate investing. Sure it doesn't require much capital and it can generate incredible profits. But the truth is that for beginners, wholesaling can be tough, scary, and even a little intimidating. Michael McDonald started wholesaling a few years ago in a small midwest market, but he's grown that into a team that does deals all across the country. What I loved about interviewing Michael was his openness to share his struggles (5 months of prospecting with 0 deals) and how he got through the struggles and on to closing 6 deals in the next 6 months. ⏰ TIME STAMPS ⏰ 00:50 Michael McDonald Gets into Wholesaling 02:15 Experience with Real Estate Gurus 03:07 Investing in Real Estate Education 05:51 Breaking Your Own Beliefs 08:06 Maxing Out Credit Cards for Education 09:50 When to Quit Your 9-5 12:07 From Solo-Preneur to Partner 14:03 What Makes for a Good Partnership? 17:21 Going from Doing to Managing 19:06 Learning Leadership on the Job 21:30 How to Hire for Real Estate Investors 23:19 What KPIs Matter in Wholesaling Real Estate 26:04 The Best Marketing for Motivated Sellers 29:20 The Reality of Wholesaling Real Estate
