I’m sure a lot of people wonder how much money they can make as a real estate wholesaler. There are a lot of wholesale real estate “gurus” out there who make you think that they’re millionaire wholesalers with their fancy websites and “big talk” videos. While it MIGHT be true for 1% of the wholesaler population, it’s just not a clear or true depiction of the type of money you can make in this business. Not any wholesalers that I’ve ever met, anyway.
Before I share with you what I think is a reasonable yearly income from wholesaling houses, let me first be sure that you understand that different people are going to get different results. Top real estate wholesalers who live and breathe wholesaling, have a nice marketing budget, know how to manage money, and have self-discipline, will make significantly more money than someone who can only commit to part-time work or has little money for a marketing budget.
I’m a straight shooter. I don’t want to make you think that you can become financially free during your first year as a real estate wholesaler. You have to learn the ropes. There’s definitely a learning curve. There’s a lot of information and formulas to absorb. You’ve got to grasp the concept before you can turn it up and start cranking deals out. A Coach to help you through scenarios is recommended if you want to get serious and make real money (and sidestep some of the common mistakes that newbies make in wholesale real estate).
Realistically, you can make $25k – $50k your first year. Unless you’re a super freak. Then you’d probably swing upwards of $100,000.00 in your first 12 months. You’d have to be really soaking up all of the education that you could while taking action on it all at the same time. This takes some serious commitment and quite a bit of time (researching comps, values, looking at houses, determining repair costs, trying to figure out how much to offer, analyzing leads, working in marketing campaigns, etc. Check out this blog post on how to find your maximum allowable offer).
After a few years in the business, and you’ve got a few dozen wholesale deals under your belt, you can easily turn this into a $250k – $500k annual income business. By creating systems, using a real estate virtual assistant, and doing what has been proven to work over and over again, it will get easier and easier to make big checks real estate wholesaling.