Wholesaling Beginner Blues (Michael McDonald)

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