How To Get Started Wholesaling Part 1

On this podcast episode I discuss how to get started wholesaling real estate. This is part one which is basically an introduction to wholesaling. I talk about the 3 main components of wholesaling which are: 1. Finding Houses To Flip To Investors 2. Finding Cash Buyers To Buy These Houses 3. Finding The Money To Fund These Flips The above 3 items are the essence of the foundation of wholesaling real estate. I find that far too many beginners that are new to wholesaling, spend way too much time focusing on things that don’t make them any money. For example: setting up their business, opening LLC’s, setting up checking accounts, creating web sites and business cards, mailing postcards, setting up CRM’s and phone systems etc. While you will need all of the above in order to be a full time real estate investor, if you are a beginner, spending money without making money is a recipe for disaster. The number one most important criteria for a business to succeed is cash flow. If you spend 6 months or a year and have only expenses going out and no income coming in then you will constantly be losing money and will probably quit at some point. And that is exactly what 95% (or more) of new investors do. And that makes it easier for the seasoned investors that stick around to scoop up all of the deals. Have you ever wondered why there are only a handful of wholesalers making most of the money in each market? It’s because the ones that stay start making a lot of money and the more they make the more they can spend on marketing, advertising and lead generation. What I want you to spend your first few months focusing on, is how to find houses and how to evaluate what these houses are worth. If you can do this well, then there are many cash investors (like me) that would be very happy to buy these houses from you for a fee. I used the example in the podcast of if you could find houses at 50 cents on the dollar and sell them to me at 60 cents on the dollar I would buy every house you showed me. The trick is finding those houses – not finding the cash or the cash buyer. There is no shortage of cash and there is no shortage of cash buyers. What everyone is looking for is a great wholesale deal. So focus on learning how to find deals. Once you find deals and flip them to cash investors you will start making money. When you start making a profit, you can deploy some of that profit into setting up web sites, marketing, advertising and lead generation. And then you too will be one of the contenders in your market. Your biggest challenge is not quitting before that happens. And the easiest way to make sure you don’t quit is by focusing on profit first. Focus on making some money flipping a house and the rest will fall into place. The foundation of wholesaling (and real estate) is learning how to find a good deal, and knowing how to evaluate what you should be offering on that deal. If you know how to do this then you can be making offers all day. And the more offers you make, the more deals you will get. The more deals you get, the more deals you will wholesale. Enjoy the podcast.

Hear What Recent Listeners Have to Say About Our Podcast

Incredible podcast!

This podcast is a must listen for anyone looking to level up their real estate investing strategies! Lex is a great host and his conversations with guests reveal everything you need to know to succeed.


Amazing Content!

Lex does such a good job covering a variety of topics. The guests offer valuable insight as well. I would recommend this podcast to anyone looking to be inspired and informed!


Absolutely Top Class!!!!

Excellent content from one of the top boots on the ground investor. Personally changed my life and my Real Estate investing career. Many thanks Lex for providing amazing content, mentorship and for sharing your knowledge and real world experience.


Invest like the best!

Whether you're a seasoned real estate investor or just dipping your toes in, Lex is the guy you want in your corner - and your headphones! I cannot tell you how much I've learned from this show. Thanks a million, Lex!

Arlie K

Excellent Content!!!!!

This is a wonderful podcast to listen to with such valuable content. I was very interested to listen to your take on why one should purchase rental property.


Best real estate investor podcast.

Lex gives you real tips with actual names of multiple sites and services to use from the beginner up to advanced. I feel he’s giving away his classes for free on the podcast. Most podcasts stop short of details and give generic advice unless you join there groups.


The Real Deal!

I’ve been looking to get into the world of real estate investing but everyone I ask gives me answers that makes it all sound way too easy. This podcast gives you the real deal. More please!

Anna B David

Great show for beginners or experts!

As an amateur flipper since I was in my teens, I kind of have gotten pretty good at identifying great opportunities and taking advantage of them. But, Lex dives much deeper and gives actionable tips on how to make sure you are looking at everthing before making any decisions. I'm hooked!

Mitche Graf

Be Prepared to Learn!

Two words: Information Dense. Sweet Moses. I’ve listened to other real estate investing podcasts but this by far is the most practical, the most hands-on podcast I have heard to date. You can tell that the host, Lex, is very passionate about real estate investing. That passion with his experience translates into an excellent podcast. He shares theory about a topic and then tells a story about his experiences in the real world. That to me is gold!

Cliff Duvernois