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Why Are Some Wholesalers Rich And Others Are Broke?
I Have No Idea. I Just Work Here.
by R. Preston Ely
The topic of this article is “volume.” Your success as a wholesaler hinges upon your ability to produce a large amount of volume.
- Voluminous leads.
- Voluminous buyers.
- Voluminous executed deals.
- Voluminous capacity to understand big words like “voluminous.”
Actually a large vocab is not completely necessary. Some of the richest wholesalers I know are also the absolute dumbest. Myself included. I couldn’t tell you what continent Poland is on if my life depended on it, for instance. I’m pretty sure it’s near Australia. And I barely know what “voluminous” means. I DO, however, know that mosquitoes are attracted to people who just ate bananas. And they have 47 teeth. Google it.
Your success depends on your ability to do LOTS of deals.
One of the biggest mistakes I see wholesalers make is simply not demanding volume. They seem content to work on a deal or two here and there. And then they are crushed when that deal doesn’t pan out. Well I don’t care HOW much money you want to make, a “deal or two here and there” is not good enough. And it’s not good enough for the simple reason that those two deals will fall apart. It’s just that simple.
If I look at a hundred leads, I will make offers on maybe 35-50 of them, and contract on a handful. One of those “handful” will not sell or will fall apart somehow. Sometimes these numbers are better and sometimes they are worse.
What does that tell you?
This week one of my new students submitted a handful of leads to me for my review. I told her to not bother with any of them. She submitted about five leads and we only made an offer on one of them. She got depressed. I had to remind her that we will be turning down literally dozens of leads to get to those few good deals that are out there.
Listen folks, it’s not often that someone will sell their house to us for 50 cents on the dollar, which is what we are looking for. But sometimes they will. It is your job to get out there, get busy, and produce as many of those “sometimes” as humanly and non-humanly as possible.
The more marketing you do -> the more leads you produce – > the more properties you contract on – > the more money you make – > the more girls you get (did I say that last part out loud?)
Pretty simple huh? Guess what happens when the average wholesaler loses a deal that he has under contract to buy? He cries. Guess what I do when that same thing happens. That’s right – I juggle. I keep juggling balls on my desk, and whenever something happens to me that I know for a fact would make the average man cry – I juggle for joy. Joy Juggling. Forget it. You’ll get there.
I do absolutely nothing when that happens because I DON’T CARE. Why should I? I’m working on 35 other deals for Pete Skouras’ sake! I don’t just say for “Pete’s” sake since I have a friend named Pete Skouras who moved away. This helps me remember him.
Are you getting the picture? I certainly hope so because I’m done writing.
MASSIVE ACTION = MASSIVE RESULTS
Always think VOLUME.
Make it happen.
Understand – Your success as a wholesaler hinges upon your ability to produce a large amount of volume.
Take Massive Action – ‘Nuff said.
Don’t Cry – Don’t cry when a deal falls through. Just juggle for joy.
Is there a topic you'd like to learn more about? Request a Lesson
is a real estate investor, serial entrepreneur, life coach, musician and philanthropist. CEO of Real Freedom, Inc, one of the most influential internet-based information publishers in the world, owns the largest Anytime Fitness Gym in the United States, is recording a music album with Atlantic Records, sits on the board of Advocates Of Love Orphanage, and has a non-profit charity assisting the poor and oppressed in Cuba with both their physical and spiritual needs.
With over 200,000 subscribers to his email newsletter, he is rapidly fulfilling his mission on earth, which is to glorify God by setting people physically, mentally, financially, and spiritually free through his music and his message of FREEDOM. Preston is 37 years old, lives in Tampa, FL with his wife Ashley, where he spends most of his time reading, writing, and practicing mixed martial arts.
Module: Investing Strategies
Expert: Preston Ely
At RealEstateMogul.com, we’re committed to delivering the awesomest, most practical, actionable content to our members … and that a big part of that is getting YOU to tell us what you'd like to learn from us. Since our REI resources are basically endless, we’d love to tailor our upcoming training as much as possible to precisely match what you, our members, really need and want out of us.
Real Estate Mogul LLC
5023 W. 120th Ave, #102
Broomfield, CO 80020
This document describes Real Freedom Inc's Purchase Agreement. When you
complete a purchase from Real Freedom Inc, you agree to the terms of the
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hereafter "SELLER," and you, the prospective purchaser, hereafter "BUYER".
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the information, content, materials, products or services included on or made
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be construed as a modification or an amendment to this agreement or constitute
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SELLER CONTACT INFORMATION
The Seller of this product is:
Real Freedom, Inc.
PO Box 48617
Tampa, FL 33646
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2022 Real Freedom, Inc.
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Real Estate Mogul LLC
5023 W. 120th Ave, #102
Broomfield, CO 80020
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© 2022Real Estate Mogul LLC
Real Estate Mogul LLC
5023 W. 120th Ave, #102
Broomfield, CO 80020
FROM PRESTON ELY - MY PERSONAL DISCLAIMER TO YOU
Hi - we do everything in our power to run a good, clean business and help people succeed.
We've been in business for nearly a decade. Our mission is simple: help 1,000,000 people live lives of greater freedom. That's what gives us juice and passion.
Unfortunately, there are people and companies who do bad things and make products that don't work at all or don't work as advertised. That behavior hurts everyone.
The bottom line is there is no such thing as magic. There is no magic unicorn that will appear on your doorstep and start pooping gold bars or giving you free money.
Just because people in this program have made lots of money doesn't mean or imply the same will happen to you. In business, and in life, there are no guarantees.
Any one of the people who we happen to feature in this program have a BIG WHY - they want to make a difference and help themselves, their families, their employees and customers succeed. They want more and they apply themselves, they get outside of their comfort zones, acquire new skills, work like crazy, make mistakes, and fail, BUT THEY DON'T GIVE UP.
They implement. They don't quit. They serve. They didn't blame someone or something else for their mistakes or failures - instead, they do the HARD WORK that it takes to make a difference.
They use our tools, systems, psychology, mindset, training, community and events to succeed.
If you're the type of person that isn't willing to roll up your sleeves, learn, explore, grow and focus on helping other people succeed, our programs aren't for you.
If you're a blamer, whiner, malcontent, or just downright lazy, our programs aren't for you.
But if the content is this program and our videos resonate with you - and you can see the possibility and potential that this can work for you, then WELCOME HOME. You're in the presence of REAL PEOPLE who are helping REAL BUSINESSES succeed, thrive and survive.
It would be both mine and my team's pleasure and honor to serve and support you so you can EARN MORE, LIVE MORE and GIVE MORE.
Preston Ely, CEO
FULL EARNINGS DISCLOSURE:
RealEstateMogul LLC. (The Company) does not guarantee income or success, and examples shown at RealEstateMogul.com do not represent an indication of future success or earnings. The Company declares all information shared is true and accurate, and any claims made of actual earnings or examples of actual results can be verified upon request.
The earnings, revenue and profit results that a customer will generally achieve in circumstances similar to those depicted in the endorsements and testimonials on this site depend on many factors and conditions, including but not limited to, work ethic, learning ability, use of the products and services, business experience, daily practices, business opportunities, business connections, market conditions, availability of financing, and local competition, to name a few. Because of impediments due to any one or more of the foregoing and other factors, it is generally expected that no earnings, revenues or profits will be achieved with the use of any products or services advertised on this site in circumstances similar to those referenced in any endorsement or testimonial.
Each of the purchasers of our products and services who have provided their endorsement or testimonial for use on this site have received a refund in the amount of the cost of the product and service in exchange for their endorsement or testimonial.