How To Start Wholesaling Houses or Become a Rehabber In The Fix and Flip Real Estate Business Today

How To Start Wholesaling Houses or Become a Rehabber In The Fix and Flip Real Estate Business Today

How To Start Wholesaling Houses or Become a Rehabber In The Fix and Flip Real Estate Business Today

Hey there and thanks for checking out today’s blog post. I’m going to keep this one relatively short and sweet, cut straight to the point and get to what matters most. We are here talking about flipping houses in today’s market, and there are a couple of things that I think a lot of people don’t realize when it comes to being in the real estate business whether that’s full time or part time. How to start wholesaling houses is we’ll start…

One of the common misconceptions or myths is that you need a whole lot of money to flip houses, and the other one is that you have to actually purchase a property in order to make money as an investor. Now obviously there are a lot of different things that can be done in the world of real estate investing, one of them being investing with a company such as mine or anybody else out there who is in the business, and you have, let’s say, a small amount of money or even a large amount of money you want to invest. Now most people struggle with the fact that they don’t have enough capital to purchase a property themselves, so they invest with a partner or with another company that does some similar business model as mine where we purchase single family and small multi-units, renovate them, and then resell them on the marketplace mainly going through the MLS.

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That’s the basic concept, but for today’s subject material, today’s blog post, I want to talk a little bit about the realities of being able to flip a house and get into the business without actually needing a ton of capital. While you will need a little bit of money for marketing and possibly earnest money deposits, it’s not going to be tens of thousands or even hundreds of thousands of dollars. Ultimately the real question comes down to which game do you want to play. Do you want to get into the wholesaling arena where you’re able to get out there and purchase properties by getting them under contract, and then flipping the contract effectively to an end buyer a.k.a. another investor, and keeping the difference in the middle? Or do you want to buy, renovate and retail the property for maximum profit? Let’s have a look at both scenarios and maybe then you will have a clearer picture of what best suits you.

How To Wholesale Real Estate With No Cash or Credit

If you want to wholesale a real estate with no cash or credit. Let’s say you have a property that’s worth $100,000.00. You’re able to get the property under contract for let’s say $60,000.00. You find an investor willing to pay you $70,000.00. You keep the $10,000.00 difference and just sell your paper basically. You’re selling your right to purchase the property. You can do this a handful of different ways and I will give a little bit of a caveat here. I am not an attorney. I’m not giving you legal advice, so certainly check with your attorney in your local area to get any specific legal questions answered. In a nutshell I’m just going to tell you about the overall process and how it generally applies. The specifics you will need to do a little bit of your own due diligence and research and then conduct yourself accordingly.

In a nutshell you take a purchase contract or option agreement that allows you to assign that contract, and that’s what you’re going to have signed between you and the seller. You get it signed. You then take that contract, that valuable piece of paper that is worth something to yourself, and then obviously the seller as well, but there is a little extra. There’s a little something else in there for someone else and that would be the investor . Being able to actually purchase and fund property you bring them adds tremendous value because they always need to have someone out there looking for deals, looking for properties for them other than maybe their realtor who is always looking in the MLS and obviously that’s retail nine times out of ten.

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The true investors tend to buy properties that are off market. That are either at the auction and you need all cash, sight unseen, and you have to pay the balance within twenty-four hours of the winning bid, – OR –  they’re looking for wholesalers, bird dogs, property finders, whatever that lingo is that they’re using in their local marketplace. That’s really ultimately where you come into the picture as a wholesaler. I wholesale a lot of properties myself. On average I would say it’s probably two to three a month that we’re able to move just by a little bit of online advertising, Craigslist mainly, back page, things like that, and then our email list.

I have a pretty extensive email list currently of investors and realtors and other opportunity seekers within the real estate space, so that would be lenders or even contractors that we wind up selling properties to because they’re just really looking for something where they can maximize their return for time and effort and dollars spent. So you’ve really got two options if you’re looking at kind of an entry level place to start as an investor. The two places most people look at real estate investing… they’re looking at can they or should they be a wholesaler and get properties under contract, flip them to other investors, or should they be a rehabber. Should they buy, renovate, and flip these properties to a retail buyer at the end of the life cycle of this project?

Become a Rehabber in the Fix and Flip Real Estate Business


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One thing that a lot of people aren’t paying attention to is the opportunity for them to actually either be a lender, a hard money lender themselves or private lender, whatever you want to call it, to a possibly joint venture with somebody, be an equity partner with somebody.

There are plenty of people who are comfortable with the landlord concept. You purchase a property, either do or don’t renovate it as needed depending on what it needs. Find a tenant. You move that tenant in or they move themselves in quite frankly, and then what happens next is they go to work every day and at the end of the month they bring you a portion of their hard earned pay in exchange for the place you give them to live.

These are all different types of real estate investment strategies. Another strategy would be tax liens. You can purchase tax liens and collect interest nine point five times out of ten the person who is delinquent in taxes is going to redeem. This is a national statistic, by the way.

They’re not typically going to let their property go to foreclosure to a tax deed foreclosure where you will actually own the house for two thousand or five thousand dollars. It’s an unlikely scenario.

It does happen but it only happens on average national between two and a half and up to five percent of the time. If you’re really focused on tax lien certificates or tax deeds that is definitely a lucrative strategy, however it’s going to be something that isn’t going to be necessarily the most likely for you to actually own the property.

You’re going to make good interest on your money. It’s backed by the local government, the municipality or the county that is conducting the sale, and that’s usually the way that that goes. For today I want to talk about should I be a wholesaler or should I be a rehabber, and that’s really going to depend more on you and your time availability, your money availability, and your desire to be in the project for a very short time versus midterm. I would say midterm instead of a long time because when you’re flipping, typically you’re looking at anywhere from three to six months. If you’re wholesaling you’re looking at three to six weeks.

The first thing you need to do is determine that. What is the level of time that you want to commit to actually being in the project itself? Now while it seems like the logical answer might be, well, I’ll just wholesale a bunch of properties really quick and make all of this money, make it up in volume. You have to do that in order to make the same money that you would typically make on a rehab. However another point is that the money is less as a general statement. The rehabber is always going to make more than the wholesaler just like the investor theoretically would make more than the realtor that they hire. I mean the commission that an agent is going to make should not be the same, greater than or equal to the profit an investor would make. It does happen from time to time when mistake happen, but generally speaking the reality is the investor makes the lion’s share of the money, and the realtor takes a percentage of it, a percentage of the sale price.

Lead Generation

Knowing that, we have to bring the next part of the equation into the picture here. That is how long is it going to take you to generate leads, go on appointments, I’m talking about as a wholesaler here. How long is it going to take you for all of these items to get done? Marketing, get the leads, qualify the leads over the phone, go on the appointments, get contracts signed, then take those contracts and get them out to your list, advertise the properties, find a buyer, and then get to the closing table. While it might seem like there’s a greater aspect, a greater possibility of profit in being a wholesaler, I personally don’t believe wholesaling is a very sustainable business that you might do for the rest of your life.

The reason I say that is there are too many moving parts: market fluctuations, up-down, left-right, you never know what’s going to happen, and then competition comes into the picture and it starts to become a little bit hairy from time to time. I’ll talk a little bit about the market shift we’ve had recently in our local market here in Chicago, but before I do that I do want to get into a little bit more with you so you understand that you don’t eliminate any of these things when you’re a rehabber as far as market conditions, competition, up-down markets, things like that. What you do have is a lot less running around, a lot less spinning your wheels because you have a project to work on.

If you’re going to make ten grand flipping a property as a wholesaler, you’d make fifty thousand dollars rehabbing that same property in theory, in an example that I’m talking about right here. If that’s the case and you make fifty thousand dollars and it takes you, let’s just say, five months, it’s ten thousand a month. If you make ten thousand on a property you got to repeat this process five times, one a month to hit that same fifty thousand. Doesn’t matter to some people and some people it does. Some people just want to do one big project, get into it. They know what they’re doing. They see the process unfold before their very eyes and they put the property on the market and they’re good to go, sell it, and move onto the next project.

How Much Effort Do You Want To Put Into Your Real Estate Wholesaling Business?

It is all a matter of personal desire. How much time and effort do you want to put into it? Neither one of these two options that I’m talking about today is really any more or less work. It is just a matter of the work process and its cycle. As a wholesaler you’re going to cycle through your process usually within four to six weeks. As a rehabber your cycle is four to six months and both things being equal the money is about the same either way if you look at it from a time production of money. Again, I gave you that example, ten grand when you wholesale. It takes you a month. Fifty grand when you rehab and you sell, and it takes you five months. It’s still the same effective ten thousand dollars a month. It’s just over the course of time and then the course of volume as well.

What suits you best? That’s the big question mark here that you need to answer. You should probably sit down, take a pen and paper, write this down, get an answer that makes sense to you, to your personality type, to your time ability to be involved in the business, to your people skills. Are you better as a salesperson or are you better not dealing with people, and just dealing with contractors or your own crews or whatever as a rehabber? You do have to have a little bit of salesmanship in you in order to be a good wholesaler, get properties under contract. You can’t be afraid of people. That’s a big no no in this business. You just simply can’t. You can’t be shy. You can’t get defeated every time somebody says no to you, because every no is going to take you closer to a yes. You got to remember that.

People say no all the time. That’s just a common expectation in the world of sales. As a wholesaler you are in the world of sales selling your solution, possibly you might even call it a service, that, hey, we’ll buy your property as is, cash, close when you want, no inspection, no mortgage contingency. It’s going to be X amount of dollars. That’s what I can pay you. All of that is going to be relative to your personality type, your time availability. Do you work a full time job? Are you a full time parent? Sometimes that makes things a little bit difficult, but as a full time parent I will tell you, if you’re at home, I mean you can be dealing with this on a regular basis. It’s actually, if you don’t mind working from home, it’s actually a great business to do out of your living room or your home office on a laptop, or, quite frankly any other kind of computer. That’s as a wholesaler.

It might be a little bit more challenging for you to start rehabbing houses if you are a stay at home parent, because you got to be there, the kids are there, and you got to manage the house. I mean that’s one of the most important jobs in the world. You got to be the backbone of the household, so how do you do that if you’re out off on a job site all day. Sometimes you just simply can’t. It is not possible, but does that mean that real estate investing is not possible for you? No. Not at all. You just have to be able to figure it out. What is your personality type? What is your time availability?

The next thing is what is your financial capability right now? Let’s talk about where you want to be. That’s great. Write that down. Make it a goal. Put it on a vision board. I love it. You might even get a small tattoo of it on your wrist to remind you, however, right now I’m talking about today’s reality, not the fact that you know you will be a millionaire in five years or six months or whatever the case is. I’m talking about real life right now. If you only have two or three thousand dollars and that’s all on a credit card, most likely you’re not going to be able to flip a house, to buy, and renovate, and flip a house. Let’s talk reality.

I’m not here to sugarcoat anything for anybody. You’ve got to have something. You’ve got to have some skin in the game. I had a lady call me the other day and we were talking a little bit. It was funny because we were talking and she says, “Okay, I want to flip a house. I want to buy one of your properties. I get your emails all the time. You have great deals. Obviously there’s equity there. I want you … I want to buy one of your properties from you, so you provide me the property.” I said, “Okay. Great.” She says, “Then I want you to finance the property.” I said, “Fine. No problem. I can make arrangements. Not a big deal.”

“How much money do you have down?” I asked her. She says, “I have nothing down. I want you to finance a hundred percent.” I said, “Okay, let me get this right. You want me to find the property. You want me to fund it. You have no money, no skin in the game whatsoever. Then what?” “I’m going to rehab it,” she says. I said, “Okay. Great. Where are you going to get the money for rehab?” I’m going to borrow it from you. I said, “All of it?” She said, “Yes.” I said, “Okay. Fine, so let’s continue this ridiculous conversation.” I said, “You know what, this is really probably not something that’s going to be able to materialize for you because obviously I make my money when I flip a property.” If I wholesale it to her, right, as an example.

I’ll put her in touch with some of the private lenders I work with and they’ll be able to go out and just make a loan for her, but they want equity. They want some skin in the game. What do I do when the lady doesn’t have anything to bring to the table? There’s not a whole lot that I can do. I mean it’s pretty much a given if you have a little bit of commonsense in your brain you’re going to know this is as ridiculous a conversation as I’ve ever heard in my life. We get to talking a little bit more. We wind up coming to the conclusion that the lady could certainly use some business strategy.

In the world of real estate investing everybody refers to it as coaching or mentoring but what I really do with people in getting them set up in their businesses is more than coaching, mentoring. Certainly you could call it that but I would say I’m more like a business consulting and business strategist when it comes to the world of real estate investing, so that’s what my coaching, “coaching,” mentoring program is about, is really about setting up your business, telling you exactly what to do, how to do it, when to do it, and what your results are based on certain criteria.

5.Relationships

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We start talking about the one-on-one, the real consulting service that I offer, and it’s a little bit under two thousand dollar a month. It is a month to month process, so after three, four months, depending on where you are in your business and if you want to plateau or you want to continue growing the business, you kind of drop off. I get totally involved in your business on a weekly basis, live, in person, and if you’re out of state obviously we do this via a webinar meeting link, but it’s just a one-on-one business strategy, every week this is what you need to do from day one. This is week one, week two, month one, and month two, okay, and we build out that process.

You take all of my software. You take all of my whole entire business model, considerate it in a box, a so called box, and it’s yours now. Now this is how it works and I walk you through that process. I told her, I said, “It’s two thousand a month is the cost.” She almost fell out of her chair on the phone. “Two thousand dollars a month?” Here’s a person who wants to get into real estate investing. You want to make tens of thousands of dollars per transaction, maybe even a hundred thousand or more on a flip and I’ve done it myself and I can tell you it’s very doable. We do it regularly. More often it’s five figure checks, but we’ve certainly had plenty.

I mean that’s totally provable and a very sustainable business model. We can show you how to do that on a very regular basis because I have done that on a very regular basis. She almost falls out of her chair. She says, “Two thousand dollars a month?” Well, yeah. Of course. Why? Is that not enough money? Should I be charging more? Maybe I’m cutting myself off. I don’t know. She says, “NO. This is too much money.” I said, “Lady, I,” and I don’t want to mention her name.

I said, “Lady, listen, you’re starting a business. How much do you think you’re going to be able to start a business for? I mean if you open a pizza place, a little hole in the wall take and delivery only pizza place, and you buy all of the equipment, you buy the sign, you buy the counter top phones. Everything is ready to go. The business itself functions. It can function, but you don’t have anything to bring. You don’t have any of the product. You don’t have the dough or the tomato sauce, cheese, pepperoni, sausage, whatever it is.” How successful is you’re business going to be? “Well,” she said, “not very successful obviously. That’s kind of a loaded question, isn’t it?” I said, “It is.”

So, let me ask you this, you have no experience, you have no money at all, nothing to bring to the table. You don’t even have a property. I mean if you brought me a property and said, “Mike, I want to do a JV deal with you. Let’s go fifty-fifty. Here’s this property. It’s paid off. I have the mortgage debt on it. I’m going to bring it. You run it. We split.” Great. You’ve brought something to the table. If not, what do you need to do? You got to be able to bring something even if it’s just your investment, you know, buy that product for your pizza place. How are you going to buy a list of leads? How are you going to market to those leads in order for you to wholesale a property if you don’t have a couple, a few thousand dollars to do it? It’s not possible. I’m telling you right now. You’re listening to me. I’m telling you the absolute truth.

This business, you can make money with no money. That’s a very vague statement. The reality is that you’re going to make money but it’s got to be someone else’s money. Maybe you bring an investor. Maybe it’s your credit card. By the way, your credit card money is not your money. It’s the banks money. They’re making you a loan. That’s why you pay interest on a credit card. You have to bring something. Do you have to do the coaching? No. Do you recommend it? Yes. Absolutely. Does it have to be with me? No. You will find a mentor out there, a coach, a business strategist, anything. You can find them.

It doesn’t have to be me. You might find somebody that’s a tenth of the price. I don’t know if they’d be worth the money. There’s an old saying in the marketing world, the most expensive information is bad information, and that’s true no matter what the industry is. Most expensive tile setter if you’re doing your bathroom is a bad tile setter. Why? Because you paid the material. You paid him to do the job and now you got to pay someone else to tear it out, buy new material and do it right. That’s just the reality of how things work, so keep that in mind. I want you to just really try to pay attention to this. Listen to what I’m saying. It’s important. If you want to get into this business, regardless of the level, whether that’s wholesale or rehabber.

Pick Your Path And Follow Through Until You Reach Your Destination

Again, the subject matter of today’s conversation, you have to pick your path and you have to know that either way you will have to spend a little bit of money, and certainly depending on either way you choose, you’ll have to also spend a little bit of time. That’s okay. This is your future. This is your income for your life, for your family to improve your life, your lifestyle. It’s okay if you spend money on yourself. It’s okay if you invest in yourself, in a business that makes sense, that makes money for you, and improves your life. Just make sure you do it right. The worst thing you could do is jump into something blindly like I know I have done.

I’m an entrepreneur at heart. There’s no doubt about it. I’ll blindly jump into something, try it, but not really give it my all, never see it for its full potential. Get bored with it or say it doesn’t work. “Ah, you know, this is nonsense.” Then leave and say it’s always somebody else’s fault. It’s not. If you really take some self inventory and evaluate just a little bit, anything that you might have had an opportunity in the past, nine times out of ten the reality has been, for me anyway, that it has failed because I failed. I failed to see it through. You need to see it through, whatever your choice out of these two options that I’m talking about today whatever that is see it through.

Go through and do a deal. If you have the time and you have the money then I would explore the opportunity and options of being a rehabber. If you are limited on funds and you are limited on time then get into wholesaling. Now the one great differentiator between the two is going to be your personality, your personality type. If you’re the kind of person who I used to be like that I’m the greatest guy in the world to get along with as long as nobody argues with me or questions me, that’s really not the greatest salesperson or boss, or manager. As long as you’re getting your way everybody is happy.

That’s kind of nonsense, isn’t it? It’s kind of bullshit, isn’t it? Think about it. You should be willing to have somebody tell you no, challenge your opinion, challenge your thought. It strengthens your mental muscles. It really does. If you come back and you say, “Hey, you know what? This property is worth sixty thousand dollars.” Well, my neighbor just sold theirs for a hundred and twenty thousand so I want a hundred thousand for mine at least. What do you do? You get a little deflated. You shouldn’t even be. It should bounce off of you like a raindrop off a window. It shouldn’t even affect you.

Well, Mr and Mrs Seller, I’ll tell you, I understand your neighbor sold their property for a hundred and twenty thousand dollars but if you look at the pictures here from the MLS you can see very clearly that their property has been completely remodeled inside and out and yours, if you’ll look around with me you can see the kitchen needs to be remodeled. It’s really not something that you can compare, so you can’t compare the price to your neighbor’s if the condition isn’t also comparable. Simple, simple little thing. That makes your mental muscle a little stronger. That’s pretty much all I have to say about picking your battle here between you’re going to be the wholesaler, you are going to be the rehabber.

When you start networking with people you are going to find that more times than not these people are, in the same industry of course I’m talking about, a fellow real estate person, so we’ll call that realtors, we’ll call that wholesalers, rehabbers, hard money lenders, JV partners, contractors even, maybe some landlords. You are going to find that over the course of time and constant communication there’s going to be this give and take, this exchange that happens, so you’re bringing deals. You’re bringing wholesale deals or you’re the rehabber and you’re bringing retail properties to market.

Guess what the buyer’s agent says? Oh, this is great. Oh, my God. I looked, I saw how much you paid for the property. I can’t believe it. You know, oddly enough I’ve got this listing over here that I can’t sell. Man, it’s perfect for an investor, but nobody will pick it up off the market. You take a look and you now realize that because you’re a rehabber you know your formula and what you need to buy the property for, you realize the thing is overpriced. You’re not going to necessarily advise that realtor that the price is high. He knows it or she knows it, that’s very obvious, but the reality is you can say, okay, you know what, let’s evaluate the situation, now strengthening that mental muscle.

Let me see. The property has been listed for seven months. They haven’t done a price reduction. They owe no money on it. It is rundown. They’re asking three hundred thousand. The property needs a hundred and fifty thousand dollars worth of work and it’s worth five hundred thousand. What’s the price? In a nutshell I’m shooting from the hip, but in a nutshell that price would be about two hundred thousand dollars, so they’re a hundred grand over price. Whose fault is it? The realtor for taking an overpriced listing or the seller for asking too much? Kind of both, right?

Now you have that conversation with the realtor. Well, okay, here how about this, I won’t use another realtor, or because I am a real estate agent myself, me, Michael Kevorkian. I am a real estate broker. A lot of times when I buy a listed property or I buy an off market property from another agent they bring them to me because I have a reputation of not taking a commission for myself. You keep both sides. You sell this two hundred thousand dollar property. Instead of making five thousand or six thousand you’re making ten or twelve. You’re getting double ended. They’re going to be a little more motivated to have that sit down with their seller and symptom, “Hey, look, we both overpriced. We tested the market. Seven months nothing has happened. We’ve had three showings. Nobody is ever going to buy this house not in decade for this money.”

Sold

Circumstances may have changed for the seller. Seller decides, okay, you know what? That’s fine. Cash, as is, no inspection, no mortgage contingency, close in two weeks, get it over with. Love it. Let’s do it. I cannot tell you how many times that very scenario has played out in my business, in my life. It didn’t happen by accident. It happened because I was able to take information that is readily available, evaluate it, and come to the seller or to the seller’s agent with a proposal, and say, here, this is what I think the property is worth. This is what I think it’s going to cost me to buy it, to renovate it, and then to resell it I’m going to have a cost to sell.

I’m going to also in between all of that have holding costs. As you can see my profit isn’t as huge as it may appear to you. If I buy the property for two hundred and sell it for five hundred that doesn’t mean I made three hundred thousand dollars. I wish, but that’s not the way it goes. You can see here, Mr and Mrs Seller, or Mr and Mrs Seller’s agent, I’m making you a fair offer. You as the agent, you can either split your commission with your seller if it’s going to make a difference or you can keep it all for yourself. Personally I don’t care. Either way it’s not going to affect what I can pay for the property. That’s me talking as a rehabber.

As a wholesaler you can have that very same conversation. It doesn’t matter. This is very simple. This business is so simple. It is just about math. It is not about emotion. It’s not about feelings. It’s not about I don’t like the way that somebody looked at me. I don’t like the way this construction, this house is built and the construction of it. In this day none of that matters. Because in this business with enough time and money anything is fixable. The question is where is that money going to come from and where is that time going to come from.

Brings me back to the original point where we started, the point that I wanted to make in this blog in the first place. Figure it out for yourself. What are your time capabilities? What are your financial capabilities, and what are you personality capabilities? When you nail those three true to yourself, not what you want to be, not what you could be, not what your mom said you were supposed to be. “You’ll be the president of the United States.” I know I used to think I was going to be. That will never happen, but I can and became the president of three corporations that I own, and I’m proud of that.

You could do the same thing. You just have to know your strengths. Play on your strengths and in time strengthen your weaknesses. That’s what you need to do, so look at where you are today and start there. Forget about where you want to be tomorrow or in six months or in a year. When I say forget about it, don’t try to be something you’re not yet. Be who you are. Be true to yourself and your business and your money will flourish. Because of it your profits will flourish. Your life will flourish. Imagine it. Imagine working in a job you hate. It goes against everything about your personality, your lifestyle, your character. Why do you do it? Because you get a paycheck. That’s how you justify it.

But that paycheck is never enough to actually make you happy. You think, “Oh, more money will make me happy.” Statistically, I believe the statistic was less than two percent of people, they got significant raises and significant being ten percent or higher. Only two percent were actually happier with the additional money. Money won’t really truly make you happy, more money anyway. It is that level of accomplishment that, hey, you know what, I have my own business, or I’m working for myself, or I’ve made this extra ten thousand dollars, fifty thousand dollars this year in twenty hours with no money out of pocket or very little. I say no money but I want to make it very clear you still need a couple, a few thousand bucks for marketing even as a wholesaler.

With very little money out of pocket I’ve made this incredible shift in my life. Is it the money? Is it really that you made ten or fifty thousand dollars? No. Really it’s not. It’s that you did something. You did something that you never thought you’d be able to do, so that’s the important part. I want you to really give that some thought, and I do want to make a point that obviously the money issue can alleviate a lot of stress. If you’re stressed out because you don’t know how you’re going to make your mortgage payment, you don’t know how you’re going to pay for your kid’s school, put dinner on the table, keep a roof over your head, pay your car payment. That’s not the kind of money I’m talking about. That will make you happier if you have more money because you’re living on the edge so badly. That’s not what I mean.

I mean if you are actually okay, everything is just going along okay, then more money tends not to be a real key factor in happiness. It is being able to do what you want when you want, living your life on your terms. Live your life on your terms, and the way you accomplish that is by starting at the foundation, just like when you build a house you don’t build the roof first and then say I’ll hoist it up on top when we build the rest of the house. No. You start with the foundation. You start with a good foundation. Where are you? Level things out a little bit that need work, but there are strengths within you. Find them. You only need to discover three right now and you’re off to the races.

What are your time abilities? What are your financial capabilities, and what are your character or personality traits? Are you truly a salesperson or are you more of an introvert. If you prefer not to deal with multiple different phone calls, qualifying sellers over the phone, going and meeting with them, selling them again in person, getting a contract signed, then going and finding the buyers. Going through that same process over and over again. If you are more of an introvert and you don’t like to deal with people that’s going to be a big struggle for you. Consider these things. I’d love to hear what you think about this blog post today.

If you would, humor me. Leave a comment below or send me an email. Just give me some remarks and I get some very, very interesting remarks via comments on the website and emails, some things that I wouldn’t dare repeat in my living days, but I also get some really great ones, more so I get some really great ones, so I’d love to hear either way whether you loved the subject matter today or you hated it. I’d really love to hear what you think. Send me an email. It’ll remain confidential just between you and me. I just want to know if you’ve ever given any consideration to these things in life and in your business.

Mainly, again, the top three: time, money, personality. You can call it a lot of different things: personality, character, whatever it is. That’s fine. Tell me your thoughts. You can email me at Michael@ExtremeRealEstateInvestors.com. I’d love to hear from you. Again, thank you for checking out this post. I appreciate your time. I’m going to cut you lose, and let you go about your note taking about yourself and which way you should jump into this business or maybe even transition from a rehabber to a wholesaler or vice-versa. All right. Until next time. Have an awesome day and I look forward to hearing from you soon.

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About the Author: I’m Michael Kevorkian and I am a real estate broker and investor in the Chicago area. I own New Market Realty Inc. a residential real estate investment brokerage in the Wicker Park neighborhood.  My blog is here to help spread the word and love for real estate to all who care to know more. Realtors & investors alike, if it’s real estate and it’s good… You can bet I’ll get it on my website to share the awesomeness with you! You can follow me on , Twitter, and Facebook.

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