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Investing Strategies

Why Are Some Wholesalers Rich And Others Are Broke?

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whyWhy 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.

choosyIf 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.


Always think VOLUME.

Make it happen.


Do It To It! Immediate Action Steps

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.

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