Wholesaling Real Estate Guide

This is a continuation of “The Great Escape” interview with Eric Thiele. Eric is working with Sean Terry and Flip2Freedom.com to learn how to start up a successful wholesaling business.  In this section, Sean and Eric discuss how failures play a major part in success.

Sean: We’ve got our assignments. Here’s what’s going to happen next week. Eric’s going to come back. We’re going to talk about what we found about the auctions, REIA clubs, and realtors with NAID license there. We’re going to find out about the data that comes in from the realtor and cash transactions. We’re going to find out about all that next week.

Then, what we’re going to do is execute a marketing plan to deploy marketing. The faster we can go out and deploy marketing, the faster we’re going to get calls coming in, and the faster we’re going to create that momentum. I picture a huge, massive train. It’s hard to get the wheels going. Once you get those wheels going, then what happens is the next thing you know is you start getting this momentum that you cannot shut down.

Our goal here is to help Eric have a phenomenal rest of 2012 and help his dreams come into reality by flipping houses. You guys get to follow along and do what he’s doing. Listen to this and start doing these assignments and reporting back and checking in. It’s not going to be easy for him. He’s going to run into difficulties, and we’ll share that exactly. There’s not going to be any rose-colored glass. We’re going to talk about everything that happens. You guys get to participate in that. So, any questions, Eric?

Eric: No, I just wanted to point out to everybody who is listening that I am a real straight-shooter, an honest guy, and I won’t hide any of the stumbling blocks that I hit because that’s how we all learn, right? You learn from success and you learn even better from failures. I’ll make sure I share all of my experiences with that.

Sean: It’s about not being afraid to be able share the failures. Those failures lead to success. It’s only a failure when you give up and quit. That’s the only time it’s a failure. See, I’m here and I’m not going to let you give up and quit. I don’t care if I have to fly to Austin. You’re not going to quit, because now you’re on the spot. Any fears that you have right now?

Eric: No, not at all. I’m sure I’ll be successful at it, especially with the experience and guidance from you, Sean. I’m very excited. Let me ask one question. It’s probably premature. I’m thinking about once I learn to walk, I want to run and turn the crank faster. At what point would you recommend people start engaging other people in the process, so that you can delegate tasks going forward to make it more scalable?

Sean: Well, for me, honestly, when I first got started, I didn’t have anybody. I was a one man show and did it all myself—took all the phone calls, took all the buyers, talked to all the sellers, and did it all myself. I would say once you get the first couple checks under your belt, you have income coming in because now when you take on somebody else, you have their livelihood in your hands as well, even part-time or full-time or whatever.

See “The Great Escape Episode 1″ Part 12…

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