Why 95% of Wholesalers Fail This Year | Wholesaling Real Estate

Why 95% of Wholesalers Fail This Year | Wholesaling Real Estate

– Hey everyone, it’s Max Maxwell, and welcome to another YouTube video. I know I’ve been a little
bit absent with YouTube the last couple weeks as far as uploading some regular
videos, some tips and tricks in a vlog, but I promise I’m
working on getting consistency. Frankly, I’ve been busy, working on a few projects at
the beginning of this year, getting things rolling for
my wholesaling business and one thing we’ve kind of been doing is implementing some new exit strategies for properties and leads that we’ll get. For example, we mainly did a
lot of wholesaling in 2017, now we want to carry on
and do some other things as far as like hoteling and more rehabs and more things like that. So for example, we’ve
got this campaign going where it’s like no lead left behind. we want to be able to help
the lead no matter what, whether that can be just wholesaling the
property or all the way to just referring it and
getting it listed on the MLS with Francis who is our
in-house real estate agent. Right? So that’s what’s kinda
been keeping me business. But I know you’re probably lookin’ up and lookin’ at the title of
this video and saying what? Reasons why most and 95% of
wholesalers will fail this year? Well, this was on my mind. I just wanted to get this out there since we’re still kind
of in the first quarter of the new year, and I wanted to say, here’s what the reality of wholesaling is. And I’m gonna give you my reasons why I think 95% of wholesalers that have started this year or last year will not be wholesaling by
the end of the year, okay? First things first. Wholesaling and real estate investing is not a get rich quick scheme, guys. And I notice people going
around in these hotel lobbies and meeting rooms and trying
to tell you that this is place where you can build wealth. Yes they are correct. How fast? Kinda depends on you. Right? You can get your first
deal within 30 days. I did. It was three weeks and
I got my first deal. But my persistency, my persistence with
this was actually crazy. So you can do the same thing. You just have to be persistent, right? So, number one, it’s not
a get rich quick scheme. All right? Moving on to number two, you’re truly not obsessed
with real estate. And what I mean by obsessed. I mean when you’re with
your family members, your spouse, your friends, and you’re talking about
real estate too much and they tell you to shut up, that’s when you truly
know you’re obsessed. If you’re not listening to
every podcast in our downtime, searching YouTube for videos on how to do this and how to do that, reading a book on wholesaling, reading a book about rehabbing, reading a book about, just actually studying your market. Just going on your tax
data assessors website and just searching and
searching and searching? If you’re not doing that
you’re not obsessed with it. And remember the person
that is obsessed with it is probably gonna be the
one that is successful and still doing this at the end of 2018. So if I were you and you’re
not really obsessed with this you probably should move
onto something else. Now ding ding ding, number three. A big factor is consistency. A lot of people are
looking for what they call the magic bullet when
it comes to marketing and finding leads,
finding motivated sellers. And listen, this business is
not really that difficult. Finding motivated sellers
and leads is not that hard if you really just put your brain to it. But first and foremost,
you need to be consistent with whatever marketing channel you’re actually going to do. For example, if you’re going
to be doing door knocking, if you’re gonna be doing PPC, if you’re gonna be doing cold calling, whatever you’re doing, you can’t give up after week
one, week two, or week three. This business needs consistency so that you are able to
get leads in the pipeline. And that’s really the majority a lot of our actual deals come from. You don’t actually, it’s very
rare that you call somebody and on the first time
you get an appointment and you book it, you get the house. Right? Those are the unicorns in our business. It doesn’t happen that often. This business, the majority of the leads from last month or two months ago end up being leads today. It’s called the pipeline. So you need some time to
build up your pipeline and be able to get leads that
you’ve nurtured over time. That’s call consistency, all right? And another huge one, real estate, this game, really any sales, any sales job you’re in ever, is all about the followup. You have to follow up with your leads. And that plays on the last one, which is consistency. Following up with your leads
allows you to have a pipeline of people to talk to. And just because three months ago when you sent that postcard, made the phone call, and they weren’t actually motivated then, things change now and they
actually could be motivated now. So here’s what I would say. Be consistent and do your followups. Your followups will
actually give you so much when it comes to the leads and your flow of your business. Because, like I said,
majority of our deals are from three or four months ago and now coming in now. All right? And then here’s one that
you’ve probably heard if you’ve watched any other
YouTube video or podcast, and it’s called analysis paralysis, okay? This is where you are actually
watching YouTube videos like you’re watching me right now, and you keep watching me next week, the week after, all of that, you’re on my YouTube
channel, my Instagram, my Facebook page, you’re
reading books and podcasts, and you never actually get started. You don’t have the confidence in yourself to actually get started. That is what we call analysis paralysis, and it defeats many wholesalers or real estate investors before
they actually get started. I tell you what, I make mistakes every
week in this business. In my business we don’t
have a magic bullet either. I try and test things to
see what works consistently. So things that I’m doing
I need to put it in motion over and over again, and if it doesn’t work then I move onto the next marketing strategy. So don’t get caught up
in analysis paralysis and feel like you need
to be a complete expert when it comes to real
estate in order to make a wholesaling, or in order
to make a lot of money wholesaling or investing in real estate. I’m telling you, you don’t do that. And for that, don’t become
analysis paralysis rat. I’m gonna give you a thing to do since you stayed at the end of this video. If you’re new to
wholesaling here’s my task, and I want you to comment once
you find out below, right? Whatever state you’re in
I want you to find out if you’re a tax lien
state or tax deed state, and then I want you to find out how often your county that you live in actually holds tax sale auctions. All right? So comment below if you’re
a tax state, tax lien state or a tax deed state, and also tell me how often your county has tax auction sales. All right guys, so this is Max Maxwell. Thanks for watching my channel. I promise you I’ll be more consistent when it comes to these YouTube
videos over and over again. I’m just taking a break from something. You can see I’m usually not behind this pretty white background and
all these lights shining on me. I’m usually out in the field
and you get to see that. But I wanted to drop you this video. So actually comment below what I said. Don’t get stuck, don’t fall in the trap, and don’t be part of the 95% that will be watching this video next year that will no longer be in wholesaling. All right guys, so take care, keep rockin’, and I’ll see you in the next video, later. (upbeat music)

100 thoughts on “Why 95% of Wholesalers Fail This Year | Wholesaling Real Estate

  1. I’m in California it’s a tax deed state I believe they have auctions that go on once a year

  2. Illinois tax lien, holds auctions annually

  3. Illinois is a tax lien state and they hold a tax auction in cook County annually

  4. My state, Utah is a tax deed state. The counties in Utah, specifically Salt Lake and Utah county hold tax sales once a year on May.

  5. Tax deed ….Tarrant County. First Tuesday of every month at the courthouse steps.

  6. Georgia is a tax lien and tax deed state. My areas have an auction every 1st Tuesday of each month.

  7. New jersey is a tax lien state, essex county has auctions pretty often

  8. Texas is a tax deed state, and Wichita county is every first Tuesday between 10 am and 4 pm

  9. New York is both, Tax Leins in New York City only sold to private investors, Tax Leins in Nassau County publicly auctioned using a bid down method starting at 20% interest. The rest of the state is Tax deeds, I’m here in Rensselaer County and our auction is the 1st week of every month.

  10. Hawaii is a Tax Lien State with a Tax Deed after a 12-month Redemption Period at 12% Annum. Auctions are announced to the public 4-weeks prior.

  11. Harris County is a Tax Deed every Tuesday

  12. Hearing California after five years the state of California create a tax deed on a property for delinquent payments. I appreciate that

  13. Illinois is both Tax Deed and Tax Lien. Cook county has a yearly tax auction and this year it is occuring on May 3rd.

  14. VA is a tax deed state and the next auction is April 29th.

  15. Nah frl im 17 and live in desoto now everytime i bring it up they start a whole bew conversation 😂

  16. I live in a tax deed state

  17. Colorado is a tax lien state and in Weld county they only do annual tax sales 🙂

  18. “Certain states allow the tax lien to become a first lien on the property, which is then turned around and sold at auction as a tax lien certificate. Texas does not have tax lien certificate sale, rather, they hold tax foreclosure sales (also called tax deed sales) on the first Tuesday of every month at the county.”
    -The Basics of Buying Tax Liens in Texas – BiggerPockets

  19. I love, love that you did an actionable event at the end of the video!

  20. Texas is a tax lien state and the sale of tax liens are prohibited here. Bexar County holds property auctions on the 1st Tuesday of the every month.

  21. In Arizona, we are a tax lien state. In my county, we hold auctions every February (which seems sort of strange that its only once a year).

  22. Both and have auction it appears to have on every month

  23. Lol for those of you that didn't catch it,,,,, what a wonderful way to obtain great info for EVERYBODY..

  24. MD – Tax Lien; Tax Sale is May 13th

  25. Florida is both, tax lien and tax deed and for 2019 bidding starts May 10 and close in June.

  26. Also to add to my first comment Florida counties Aution dates are held on different dates from one another.

  27. California is a Tax Deed State, it seems as if they hold auctions every month. But I'm not sure

  28. New York is a tax deed state. Looks like my county hold auctions once of twice a year

  29. Louisiana Tax deed and annually in may

  30. Missouri is both a tax lien and tax deed state with the exception of St. Louis. Land tax sales are held 5 times a year. April, May, July, August, and September.

  31. Florida is tax deep but Now what ?????????

  32. I’ve only been watching you for two maybe three days. I appreciate your info. My state is lien. They release a tax lien list twice a month then once a month they have auctions
    I found a private investor and a real estate agent both willing to help me get started and share info locally and I requested a bunch of wholesaling groups(yours included lol) on fb and ig

    Hopefully I’ll have an update for you in a week I started building buyer and seller list today …even though I’ve only been at this for like 72 hours and really have no clue what I’m doing but it’s fun and it got me out of my minor depression so we shall see what happens
    I might have just needed something to do lol

  33. Arkansas is a tax deed state! (Woo, hahaha) Auction is held annually in April!

  34. California is a Tax Deed state
    San Diego County hold anywhere between 0 to 3 Tax Deliquent Property Auctions a month just depending upon how many properties they have.

  35. California is a tax deed state and they hold auctions about once a month I believe. Thanks for the great helpful videos man

  36. VA is a tax deed state. But I'm still looking for the frequency of auctions…

  37. State has both. County has liens. County Auctions are held once a year.

  38. Washington tax Deed state only. Property Sales held every Friday for Yakima county!

  39. Hello Max I'm a 19 year old real estate investor, and I live in Alaska, which is Primarily a Tax Deed State

  40. Tax deed ! NC

  41. Georgia is both! Tax auctions held every 1st Tuesday of the month at the discretion of the tax commissioner! Thanks for all the great info!!! 👏🏽🤝🏽

  42. Texas, a deed state

  43. Tax deed state (CA). Looks like we’re doing auctions once or twice a week in Los Angeles County!

  44. It's cause guys like….I won't say names…..made videos way back when after the bust saying "OMG it's so easy just put up a sign and you'll get calls IMMEDIATELY. Btw buy my program to learn WHAT TO WRITE for guaranteed calls!!!" Next 10 bandit signs I see I'm tearing them down and burning them. Hacks. They've junked up the city; they're evvvvvverywhere.

  45. According to what I have been able to find Colorado is a tax lien state and holds auctions yearly from Oct.-Dec..

  46. Indiana is a tax lien state..wasn’t really specific on how how often we do tax sales I know we have a surplus sale in September of this year though!!

  47. Actually Max Indy is both it turns out!!

  48. Any good recommendations on real estate wholesaling books? Thanks in advance.

  49. I talk to much my girl gets mad because I’m steady talking about wholesaling

  50. Shalom Max., Blessings
    I 💓 Your Passion for Other People. You are Totally Awesome !!! ✌

  51. First Tuesday of every month
    In Texas a tax deed state !
    Don’t know much about real estate but I know I have what it takes! When I land my first deal I will come back and comment !

  52. Florida is both a Tax Deed and Tax Lien State.

  53. Both and once annually

  54. Clark County NV

  55. Texas is a Tax Deed state, and auctions are held on the first Tuesday of each month.

  56. Texas is a Deed state and My county holds auctions regularly

  57. Georgia does deed and lien tax. they have sales in Dekalb and Augusta on the first tuesdays.

  58. Tax deed state and auctions are held monthly.

  59. Texas tax deed

  60. Florida is both

  61. Florida is both Tax Deed & Tax Lien, Sarasota County holds auctions once or twice a month varies! Best of luck to you all!!

  62. Texes is a Tax deed state

  63. florida is both tax deed and tax lein state and lee county holds auctions evry tuesday at 10 am

  64. Texas tax deed every Tuesday of the month 10am-4pm

  65. Ohio seems to be a lien and deed state. But, from I could gather, my county, Cuyahoga, is a Lien County.

  66. Florida is a tax lien and a tax deed state.. My county has a auction every first week of the month. From 9am-4pm..

  67. Pa is a hybrid state but two years to redemtion

  68. Tax deed state – Ma

  69. I found that I must be going through analysis paralysis because I have known this for a while. Harris County / Texas is a Tax Deed County/State and hold the auctions on the 1st Tuesday of every month. I guess that good to keep the list smaller than a thousand pages lol.

  70. South Carolina is a Tax lien state, though I'm not really sure what the distinction between liens and deeds are. Greenville County holds a tax auction annually. I'm not even sure if they have a date yet, the only information I was able to find is "Fall 2019" lol. Guess I'll be looking at other Counties.

  71. I live in a tax lien state NY, auctions are held every year

  72. MI
    * Tax Deed

    March 1
    * every year

  73. Wisconsin is a tax deed state. Milwaukee County has tax auctions every Monday morning.

  74. Cali is a tax deed state and it does hold tax auctions

  75. North Carolina is a tax deed state, Some states allow local county tax collectors to sell tax lien certificates while other states sell *tax deeds and allow investors to own the properties after purchasing the deed.

  76. Tax Deed State and the county holds auction 1st Tusday of every month.

  77. Texas holds tax deed sales once a month. Thank you for your advice/videos! 🤗

  78. In Illinois we are a lien state , and as of watching this video we have an auction coming up on 7/19/19 and another the following weekend .. thanks for snapping me out of my paralysis

  79. My issue is getting trustful cash buyers!!! Where are they?!!!

  80. Texas is a Tax Deed State and the auctions are held on the first Tuesday of each month in Travis County.

  81. FL is both a tax lien and tax deed state, and Volusia County has a tax auction sale once a year! 🙂

  82. Virginia is a Tax Deed state, and the city of Norfolk holds tax sale auctions every December 31st.

  83. I live in cobb county in Powder Springs Georgia. We are both a tax lien and a tax deed state. My county holds an auction the first tuesday of every month.

  84. Texas is a hybrid state (both lien and deed) and auctions are held every first tuesday of the month for Dallas County

  85. Californa is a tax deed state and has tax defaulted property auctions

  86. VA is a Tax Deed state. Great video!!! I am getting back into the game but I will be watching your videos to gain the needed knowledge. I had a terrible time wholesaling the first time I got into the game lol

  87. Super smart way of getting you followers to show their market, super smart

  88. Delaware is a Tax Deed State that holds monthly auctions. Please tell me the importance of this.

  89. Can you wholesale foreclosed homes?

  90. Montana Tax Lien state. Yellowstone county- pretty often

  91. Guilty of analysis paralysis. Can’t be afraid to fail let’s get it!

  92. California is a Tax Deed State.

    La County auctions held in August and October

  93. Pennslyvania is a hybrid! Neither tax lien nor tax deed. Allegheny county holds auction the 2nd of every month.

  94. AR is a tax deed states. Tax sales auction for Pulaski county was held April 9, 2019 so once a year.

  95. Arizona is a tax lien state and they do tax lien sale every February

  96. Illinois tax lien State cook county once every year in May

  97. Colorado has both although it takes three years to apply for a deed. El Paso Co. Only holds tax lien sales once a year in October

  98. Texas has been referred to as a hybrid tax deed state because its laws provide homeowners with an opportunity to pay delinquent taxes for a period of time after a winning bidder takes possession of the county's tax lien against the property.

    The Sheriff’s Tax Sales are now held at the Old Red Courthouse, 100 S. Houston St., 4th Floor, Dallas, TX 75202 the first Tuesday of every month beginning at 10:00 AM.

    Auction days and times are listed at the Dallas County Courthouse, 600 Commerce Street, on the Public Information board located on the first floor. Visit www.taxsales.lgbs.com for additional information.

    Bidder’s Certificates are required to purchase property at the tax sale. At least 24 hours prior to the sale, all certificates must be purchased at the Dallas County Tax Office, 1201 Elm Street, Suite 2600, Dallas, TX 75270.

  99. I am in Pittsburgh, PA & I think PA is a tax deed State.

  100. California is a Tax Deed state and they have tax Auction sales throughout the year.

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