Those “Real Estate Investor Seeks Trainee” Signs: Make $120k/yr With No Experience?!
Those “Real Estate Investor Seeks Trainee” Signs: Make $120k/yr With No Experience?! – Latest News Today
Ever wondered about those signs that say “Real Estate Investor Seeks Trainee?” Wonder no longer…here’s exactly what happens when you call those signs. Enjoy! Add me on Instagram/Snapchat: GPStephan
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So first, lets talk about who’s BEHIND these signs and what actually happens when you call. You have two types of people who post these signs, the first is generally the wholesaler, and the second is the one who teaches you how to wholesale. So lets start with the first one: the wholesaler.
A wholesaler is someone who finds a distressed property, gets it under contract under market value, and then assigns that contract to an investor for an even higher price. The wholesaler then profits the difference in price between what they have the house in contract for, and what their investor is willing to pay.
But the most difficult part when wholesaling is finding distressed sellers. And as a wholesaler, generally your time is not best spent finding these deals…it’s best spent NEGOTIATING these deals, and then pitching these deals to investors. That’s where the sign comes into play. So the wholesaler will them teach you how to find deals…this is usually a time-consuming process that involves calling numbers from the public record that are behind on their payments, calling absentee owners, door knocking distressed sellers, or what’s called “driving for dollars” – which is basically where you drive around a neighborhood, find a home that looks poorly taken care of, and then door knock it to see if they’re willing to sell. This term is also known as “Bird Dogging.”
You as the “Trainee” will get paid for leads you bring in to the wholesaler. Hypothetically, if you product results and bring in motivated seller leads – Yes, you can make some pretty decent money. So in that sense, it CAN be a legitimate business. But this benefits the wholesaler more than anyone else – the wholesaler gets free work, only pays if THEY make money, and with this there’s very little risk to the wholesaler besides their time training someone what to do.
The second type behind this sign is the person will explain that they’re holding a “free seminar” on how to get started making money in real estate. They usually then upset you on programs that you have to pay into to learn the business of wholesaling. These types of companies might also have a second spin on things, as well. You can join their inner program, for a price, and then get a commission for anyone else who buys their educational material.
So either way you look at it, you’re usually getting the short end of the stick anytime you call these signs…just don’t do it.
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