Is Wholesaling Really Worth All The Struggle?

Episode Transcript
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Speaker 1 (00:13):
is wholesaling worth it?
Is it worth the sacrifice, thelong days, the embarrassments,
the termination and, honestly,having to overcome all of the
fears that you have?
After a decade of doing this, Ican honestly say it is.
Do I feel like this business isfor everybody?

(00:35):
No, I don't believe everybodyhas the necessary mindset and
the skills developed to besuccessful as a wholesaler, but
I do think it is a business thatis simple enough that everyone
can obtain those skills that areneeded and the mindset that is

(00:58):
needed to succeed.
I'll share a story that Ihaven't shared very often, but
it was a couple of years ago.
I'll share a story that Ihaven't shared very often, but
it was a couple of years ago and, from the outside, looking in,
most people probably thought wewere a highly successful
business and by most metrics wewere Deal flow, revenue, gross

(01:18):
revenue, our credibility, whatwe could point back to on what
we had accomplished as abusiness.
It was all there, but at thetime we were broke, we had made
some mistakes and we had gottenourselves in a position to where
we could not make payroll.
On a Friday I had to go to myteam and, as most entrepreneurs

(01:41):
that face moments like this.
You have a couple of differentways that you can handle it.
You can tell the truth, you canhide behind it, you can point
blame what I like to refer to asexcuse, plus a story.
Hey, I can't pay you payroll,and here's the reason why.
Let me tell you the story.
I could have easily done thatand why.

(02:03):
Let me tell you the story.
I could have easily done that.
However, what I did was is Iset my team down with Cassie
next to me, and I explained tomy team not so much about the
power of wholesaling and ourcredibility and what we had done
, but really asked them tobelieve in me and Cassie and who

(02:26):
we were as entrepreneurs andwhat the vision looked like, on
how we were going to turn ourbusiness around, admit the
mistakes, talk about thefailures that we had, what we
had learned from them and how wewere not going to replicate
that over and over and overagain.
And because of that, everyonethat was sitting in the room

(02:47):
said they understood, they werewilling to delay their payment
and we were able to turn itaround.
And now I'm happy to say thatup until a couple of months ago,
every single one of thosepeople was still on my team.
Now Keaton has left us.
He decided to go into businesswith his wife and go do
something else, and I'm morethan proud of them and I'm happy

(03:09):
for it.
It was on good terms, but everyother person that was sitting
in that room at that time isstill a part of titanium and, as
an entrepreneur, that's one ofthe proudest moments that I have
and the fact that we were in abad spot.
But we looked at it and we saidthis is how collectively, as a

(03:31):
unit in an organization, we aregoing to overcome the struggles
that we have, and from aleader's perspective, it was
highly embarrassing.
I did not want to walk out ofmy office and tell people I
don't have $500.
I don't have a thousand dollarsto give you, but I legitimately
didn't.
I didn't have it, and thereason why we didn't have it is
because of the choices and thefailures that we had had up
until that moment.

(03:52):
But, that being said, thosefailures that happened yesterday
do not dictate what we can dotoday and tomorrow.
And we looked at that and westared at it point blank and
said we are going to turn thisaround, we're going to right the
ship, we're going to turn thisback into what we know we can
create and because of that, nowas an organization, we're more

(04:15):
tight knit, make a lot moremoney.
We have a lot more fun together.
Is it always fun?
No, it gets hard.
Just a couple of days ago lastFriday to be perfectly exact it
was awkward.
There was many, many closingsthat were supposed to be going
down.
Some of them went downperfectly, without any

(04:37):
communication whatsoever.
Wires were sent to our bankaccount and then other ones.
There was extensions, there wasupset, sellers, realtors
involved a chain of events towhere even two, three
transactions after ours wherebuyers and sellers and realtors
were calling us and wanting toknow why we weren't performing.
Those are what the moments thatwe sign up for as entrepreneurs

(05:01):
.
Is it worth those moments?
Absolutely.
Today alone, we're going tohave close to $100,000 wired to
our bank account.
That moment is a moment that Iliterally wrote down a decade
ago as a yearly goal.
I wanted to make $100,000 in ayear wholesale and real estate

(05:24):
and now I'm getting that wiredto me in a day.
Now is every day like that.
No, friday, there's $10,000wired and a lot of frustration
Long day At the end of the night, when I sat down on my couch, I
had a massive headache.
I was stressed and very rarelydo I get stressed like that, but
it happens For each and everyone of you that is wondering

(05:48):
right now should I continue downthis path as a wholesaler?
You need to have a realconversation with yourself and
ask am I prepared for this to begreat and difficult at the same
time a decade from now?
Because, despite the fact thatyou will develop skill sets,
there's always going to besomething that comes up in

(06:09):
transactions.
There's always going to be theneed for you to step up and make
a decision.
The key for long-term successis are you willing to stand by
those decisions when they winand when they lose?
See, when I had to go out andtalk to my team about the fact
that I couldn't pay them theirpayroll a couple of years ago, I

(06:30):
had to stand and sit there andlook at my decisions and say the
reason why we are where we areis because of my decisions
Moving forward.
If I change those decisions forthe better, this is how we will
dig ourselves out of that hole,and that's how we were able to
do that.
Now, as an organization, wehave better processes and

(06:51):
because of that, our skills havegotten better.
When things happen duringtransactions maybe a buyer
doesn't have funds the day ofclosing, maybe there's a title
issue, another wholesaler filesan unwarranted memorandum on a
deal we have dealt with thosesituations and we deal with them
as they go.
The key here is to make suremore wins happen than losses

(07:13):
inside of your business.
And if you're prepared forthose moments, then, yes, every
aspect of wholesaling is worthit.
But if you look at it and say Idon't know if I want to deal
with those hard moments, thenquite frankly you need to start
questioning not is wholesalingworth it?
But is being an entrepreneurworth it?
Because ultimately, thishappens in each and every

(07:35):
business.
The people that win are theones that are able to look at
the difficult times and thosedifficult decisions and say this
is what I signed up for.
The people that don't wannadeal with that are the ones that
work for people like me thatsay RJ, you deal with that,
that's what you signed up for asbeing the boss man, and I

(07:56):
welcome it.
I don't ever plan on changing.
I love those moments because Iknow those are the moments that
allow me to have a $100,000 day.
I also know that the days thathave $0, that's also the day
that I signed up for and let mebe honest with you as an
entrepreneur, I have a lot moredays that there's $0 that come

(08:17):
in than days where I have$100,000 come in.
That's just part of the cashconversion cycle of a wholesaler
.
Now many of you are questioningwhether or not you can sustain
the failure early on to developthe skill sets, and that's
frustrating.
That's why most people have ajob that they're also trying to
wholesale and see if they canreplace that income.

(08:41):
I had a one-on-one with a TUmember about two months ago and
it was a very interestingone-on-one.
It's probably one of thefavorite ones I've had so far
because he was talking about hisprevious experience with
working with three separatehedge funds back in 2020 through
2023.
And he acquired millions andmillions of dollars worth of

(09:04):
real estate and he wasquestioning whether or not he
could do this on his own becausehe had success as an
acquisitions rep for a hedgefund, but it wasn't quite
clicking yet inside of his ownwholesale business.
And the funny thing is is, aswe continue to talk, the skills
were there the ability to compand underwrite and have

(09:25):
conversations with sellers arethere.
He really just needed to havesome confidence in himself and
his ability to do it withouthaving a boss there to say this
is how you do it.
He just really needed to buyinto the fact that he was the
one that acquired those dealswhen he worked for the hedge
fund not the hedge fund itselfand very quickly, right after

(09:48):
our one-on-one, he startedseeing success and I don't think
that there was anything magicalthat I told this member.
I think it was literally.
Just he told himself that I cando this and I'm going to.
He started putting in more reps, a little bit more hours per
day, and then, the next thing,you know, it was closed and

(10:10):
funded, closed and funded.
Then it was closed and fundedfor a $40,000 assignment.
Now, all of a sudden, he'sapproaching six figure months.
I'm super proud of this memberbecause he stuck with it.
When we had our one-on-one, hewas on the brink of quitting.
Now think about that.
How many of you guys are on thebrink of quitting right now,

(10:33):
when really all you need is tohave a little bit of confidence
in yourself and say I can dothis?
The proof of concept is outthere.
With so many different peoplein this industry and I say it
all the time our competition isnot very good.
But if you can focus on whatsomeone that is succeeding, what
they're doing day in and dayout, and replicate the effort

(10:56):
that they're willing to put inand not give up right at the
finish line, you can absolutelycreate whatever reality you want
for yourself.
If it's just I want to do twoto three deals a month, that's
easy.
If you want to do six figures amonth, takes a little bit more
work, maybe a little bit of help, but it's not impossible.
There's plenty of people outthere doing it.

(11:18):
So decide what goals do youhave for yourself inside of your
business, but also have a realconversation about am I willing
to work at this until I succeed?
Or are you always thinking inthe back of your head if it
doesn't work soon, I'm going toquit?
Because I'll be honest with you, when I stared at my bank

(11:40):
account and I realized I didn'thave the money to pay my people,
there was never a contemplationabout quitting.
That was never an option.
And if you give yourself thatoption, you'll always be
thinking is this the moment Ishould quit.
Personally, I don't thinkentrepreneurs quit.
I think we just fail when welook at it and say what's the

(12:02):
next move, what's the nextsolution?
If you've got that in you, thenyeah, it's worth it.
If you don't, you should gowork for someone else.
Let me know what you think inthe comments.
Show me some love.
Like today's video.
We'll see you guys tomorrow.

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Is Wholesaling Really Worth All The Struggle?

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