35 min
Wholesaling Beginner Blues (Michael McDonald) REIClub | Real Estate Investing Podcast
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- Investing
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
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
35 min