The Real Estate Syndication Show WS1613: Running a Wholesaling Business Model | Kyle McCorkel
Wholesaling properties is a lucrative way for investors to quickly acquire properties with little capital. However, it may not be for everyone because it requires sound knowledge of the market, strong negotiation skills, and a network of potential buyers. However, some investors’ success in the field serves as an inspiration for many.
Safe Home Offer owner, Kyle McCorkel, shares with us how he became a full-time real estate professional with a focus on wholesaling after serving a decade in the consultancy industry. Josh McAllen of syndication company Accountable Equity sits in for Life Bridge Capital’s Whitney Sewell as host in this episode.
Key Points From This Episode:
- Why did he make a move from a consulting role to a real estate career?
- How does his website fit into his ecosystem?
- How important is full radical transparency in his business?
- How much does he spend each month on marketing?
- What is his long-term goal?
- How does he manage a property once he buys it?
- What is his basic targeting strategy?
- How much does he invest in his virtual team?
Tweetables:
“Passive income will be great. So eventually, that got me started on real estate. I started buying some of my own properties in 2015.”
“I then started with buy and hold. Then I started flipping and then I started wholesaling. So I think the reason that that happened that way for me is because I was just always looking for deals.”
“I started finding good deals, and my only strategy was to buy them and hold.”
“So right now I just do like an overall portfolio snapshot. And I'll say, this is the amount we made in the portfolio this month. I think it helps to keep me accountable to my audience out there.”
“There's another entity that's the wholesaling entity that actually feeds deals into the buy and hold.”
“I'm very analytical on the wholesaling side as well.”
“In the past four years since I've been marketing very heavily, I've gotten even more kind of fine tuned.”
“We're trying to go bigger. But the biggest we've done so far is like a four- or five-unit property.”
“I've been wholesaling a lot more, the kind of the percentage of deals that I'm wholesaling has been more like 80% over the last 12 months.”
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