Wholesaling real estate has become known as the fastest and most cost-effective way to build wealth. And thousands of new investors are flocking to the industry monthly to gain financial freedom. And with all of these new faces, there are many, many blogs and videos that are offering tips and guidelines to become successful. But can you whittle it all down to one simple tip or philosophy?
The short answer is yes. While there are many important aspects and concepts to learn and practice to become successful in real estate wholesaling, there is one idea that must be applied in all of these areas. You need to be consistent to be successful. Real estate is very cyclical. There will be extreme highs and lows. But regardless of the current swing in the market, you need to be consistent in your efforts.
It can be easy to forget about your meager beginnings when you are riding a super high and have tons of deals rolling into your office. But these are the times when you need to be vigilant and continue driving for dollars and sending out postcards and emails. Because as quickly as the market went up, it can go down. And you need to have a consistent supply of deals rolling in at all times.
It can also be easy to forget who got you your first few deals once you find a comfortable level of success. But never forget to keep in touch with all of the people who helped you out in the beginning. Consistency in your relationships is another critical factor in maintaining a constant flow of deals.
There are no shortcuts in life or real estate wholesaling. Think of the tortoise and the hare. You need to keep moving forward at a constant and consistent pace to win the race. A fast burst will be followed by a slow stall. But steady effort and energy will sustain long-term success and growth.