When I was starting my journey to becoming a real estate wholesaler, there were not many educational opportunities available. A few books on house flipping, in general, were out there, and a couple of websites that outlined the wholesaling process in brief. Thankfully, I wasn’t completely alone—I had a great mentor who helped me to hone my craft as I fumbled my way through my first few deals.
The good news is that you have more tools at your disposal than ever before to learn everything you need to know about starting your own real estate wholesaling business. However, not every source of information available is high quality or suitable for every newcomer. Fear not: I’ll walk you through the best house-flipping training wholesale methods that will put your real estate career on track for success.
Educational Paths for Self-Directed House Flipping Training Wholesale
No matter which house-flipping training methods you end up using for wholesaling, you’ll need to learn the following skills to succeed:
- Networking with other investors
- Finding leads
- Property valuation
- Calculating repair costs and transaction costs
- Getting financing at an attractive rate
- Closing deals profitably
Let’s take a look at a few learning modalities to see how effectively they can help you to master these activities.
- ➔ Books
Reading books is probably the primary way many investors try to get house-flipping training for wholesaling. Books are great because you can move at your own pace and get vastly in-depth information about each topic. In particular, classic wholesaling books like “If You Can’t Wholesale After This: I’ve Got Nothing For You” and “The Book on Negotiating Real Estate: Expert Strategies for Getting the Best Deals When Buying & Selling Investment Property” are must-reads for aspiring investors. While these books have plenty of granular tactical information that’s great for beginners, their primary focus is on cultivating the appropriate mindset, which is critical. Others, like “The Ultimate Step By Step Guide To Real Estate Wholesaling,” are more about the nuts and bolts of wholesaling than they are about becoming a clear-eyed and sharp-minded investor. If you’re looking to get a comprehensive education from book learning, you’ll need to cover both areas. Nonetheless, books can let you down if you don’t have a crucial factor in your hands called time. They tend to require a lot of time investment, and sometimes it’s faster to dive in and learn as you go. But don’t let this turn you down; we also have other options.
- ➔ Online Courses
Online house-flipping training courses for wholesaling are more popular than ever, and they should be a part of your investor education. Whether it’s a program by a group like Elite Legacy Education, Fortune Builders, or Freedom Mentor, online courses tie together everything from case studies to videos and even discussions with classmates for your benefit. You can also take online courses from accredited educational institutions, which can be advantageous. It’s possible to get pretty good house-flipping training by using online courses alone, but the difficulty is that courses tend to vary wildly in quality. Taking courses with outdated materials will ultimately leave your business vulnerable. On the other hand, you might have to shell out a pretty penny to get access to the newest and best classes.Overall, the best training courses for wholesaling specifically include a hands-on component as well as active participation from the teacher and classmates. In contrast, weaker programs might not teach you the fundamental principles that underpin the work, focusing instead on how to fill out legal forms or other minutiae that are easier to learn on the go.
- ➔ Youtube Channels
Youtube channels like Flipping Mastery TV and Wholesale to Millions are an easy way to start learning about wholesaling. Many channels have extensive material, often including detailed how-to’s, relevant background information for specific markets, and plenty of investing war stories. And, some of that material may be both current and useful enough for your education.One of the most significant issues with learning via Youtube is the lack of content vetting. Many channels have many subscribers but produce videos espousing dubious facts or promoting unethical or inefficient practices. As a new learner, you won’t have the experience to know which is which, and that’s a significant risk.
- ➔ Mentorship
Having a mentor to guide you through the wholesaling process is a wonderful way to supercharge your learning. Mentors can give you tutelage that specifically addresses the areas of your understanding that may be weak, while also helping you to avoid the consequences of making mistakes while closing deals. A high-quality mentor will also help you to understand how to approach questions like whether house flipping is a good business practice or not. The trouble is that mentors are hard to find, and not every senior real estate wholesaler will be willing to put the time in to give you full house flipping training for wholesaling. Plus, there’s always the (small) risk that would-be mentors aren’t actually as skilled as they may seem, so it’s possible to learn bad habits too.
Hands-on Comprehensive Training Is Best
For most real estate investors at the start of their careers, a multi-modal training program combining book learning, mentorship, coursework, and guided dabbling in actual dealmaking is the most effective way to learn. With such house flipping training for wholesale, you’ll build core skills like valuation while meeting new investors and deepening your understanding of financing options.
In particular, becoming a HomeVestors® franchisee is a great way to start the comprehensive training regimen that’s likely to serve you best. Independently owned and operated HomeVestors® franchisees have the opportunity to be taught by and work with some of the most experienced real estate wholesalers in the business, and they also get access to on-demand financing, lead generation programs, and real estate valuation software. All the while, you’ll be getting your feet wet in real markets and with real deals so that your practical skills grow equally alongside your theoretical knowledge.
Once you’ve gone through the HomeVestors® training program, you’ll be better equipped to succeed with wholesaling than most of the other investors in the market. Plus, you’ll understand wholesaling principles as well as the critical details about how to do the paperwork to close deals and how to negotiate with sellers.
Want to learn more about our house flipping training wholesale program? Request information about becoming a franchisee today.
Each franchise office is independently owned and operated.