Why Most Wholesalers Struggle (And How to Change That)
Many new wholesalers spend months chasing cold leads or trying to force one deal to work, often with no results. Ethan Teleky, a new wholesale real estate investor featured in this guide, experienced this firsthand.
After seven months of frustration and obsessing over the same property, he shifted his mindset and signed two deals in one week. He went from earning $2,500 per month working at a grocery store to making $12,000 on his first real estate deal.
His story is a reminder that with the right steps and support, success is closer than you think.
Watch Ethan’s journey from grocery store employee to closing $37K wholesale deals and how a simple mindset shift changed everything.
This guide walks you through the 9 key steps Ethan and other successful investors use to grow their real estate wholesaling business, whether locally or virtually.
Step 1: Adjust Your Wholesaling Mindset
A mindset shift can change everything. Ethan’s breakthrough happened only after he stopped clinging to one property and instead focused on building momentum.
- Stop obsessing over one lead.
- Value each conversation, even if it doesn't lead to a deal.
- Stay consistent and open to new opportunities.
Lesson from Ethan: He called the same property list repeatedly without results. Once he focused on volume and timing, deals started flowing.
Step 2: Expand Your Market Reach with Virtual Wholesaling
Sticking to your local area limits your potential. Ethan started in Bradenton, Florida, and later expanded into Ohio, closing multiple virtual deals.
- Use DealMachine to research new markets.
- Start with areas showing strong investor activity.
- Consider joint ventures with local partners.
Step 3: Invest Time in Cold Calling for Real Estate Leads
Cold calling is Ethan’s primary marketing strategy. It is fast, direct, and scalable.
- Build seller lists using absentee owner and tired landlord filters.
- Use services like Quality Cold Callers to outsource effectively.
- Train your team with clear scripts and daily call goals.
Pro tip: Ethan's team makes hundreds of calls a day, and his biggest deal ($37,000) came from a cold call.
Step 4: Build a Reliable Wholesaling Team
Growth requires a team. Ethan started solo but added cold callers and mentors to scale his efforts.
- Hire virtual assistants for cold calling, lead intake, or CRM updates.
- Ask mentors or other investors for service recommendations.
- Vet services based on referrals and responsiveness.
Success Tip: Find the Right Talent
- Use Upwork or OnlineJobs.ph to hire virtual assistants
- Request references from your real estate network
- Look for people who align with your process and work style
From Ethan: His current cold callers work directly for him, giving him more control and better results.
Step 5: Use Smart Data Tools to Target Off-Market Deals
Data drives deal flow. The right tools help you find sellers before they consider listing.
- Use DealMachine for driving for dollars and skip tracing.
- Stack data using filters like single-family, square footage limits, and absentee owners.
- Track which lists perform best.
Favorite feature: Ethan values DealMachine’s free skip tracing and contact info accuracy.
Step 6: Qualify Seller Leads Effectively
Qualifying leads saves time. Ask the right questions to focus on motivated sellers.
- Ask about recent repairs, updates, and condition.
- Get photos and videos if you're wholesaling virtually.
- Find out why they’re selling and when they need to close.
Ethan’s approach: Motivation is key. Without it, the deal does not make sense, regardless of the price.
Step 7: Optimize Your Follow-Up and Contact Strategy
Do not waste time calling the same people who never respond. Ethan used to call the same list nine times. Now he works smarter.
- Call through your list two to three times, then move on.
- Build a CRM to track responses and stages.
- Focus on new leads and proven follow-ups.
Lesson learned: Do not get emotionally attached to a lead just because you’ve tried hard. It is a numbers and timing game.
Step 8: Develop Strong Negotiation Skills
Negotiation relies on trust, timing, and understanding motivation.
- Build rapport first.
- Use seller motivation to justify price.
- Be direct but empathetic.
How Ethan does it: Ask simple questions about the property, then explore why the seller wants to move. That is the key.
Step 9: Build Systems to Scale Your Wholesaling Business
Systems help you move from hustling to building a business.
- Delegate cold calling, lead intake, and transaction coordination.
- Use automation tools for follow-up .
- Focus on acquisitions or dispositions, not both.
Ethan’s goal: He wants to focus on acquisitions and dispositions while delegating everything else, following the model used by top wholesalers closing 70 or more deals per year.
Supporting Examples from Real Wholesalers
Ethan’s story shows how quickly things can change with the right support and systems:
- First 7 months: 0 deals
- Next week: 2 deals signed
- Current: 12 deals closed, including virtual deals in Ohio
- Biggest deal: $37,000 profit
He started with no college degree, quit his job, and bet on himself. If you are just starting, know that consistent action builds momentum.
What Happens When You Follow These 9 Steps
By implementing these 9 steps, you will:
- Generate more motivated seller leads
- Close deals faster with less effort
- Build systems for long-term growth
- Create a predictable wholesaling business
Wholesaling is not about luck. It is about working smart, solving problems, and staying consistent.
Final Thoughts: Start Taking Action Today
Ethan went from zero deals to a $37,000 payday by following the steps in this guide. Your journey can start today.
Pick one step and take action. Build your first list. Make your first call. Set up your CRM. Progress comes from doing, not just planning.
It is not about the one house you have been watching. It is about the next ten that are waiting for your call.
FAQs About Real Estate Wholesaling
1. What is the fastest way to get your first wholesale deal?
Start with driving for dollars. Build a list of 500 to 1,000 properties, skip trace, and cold call consistently. Ethan closed his first deal after adjusting his follow-up approach.
2. Is virtual wholesaling real estate profitable?
Yes, virtual wholesaling is profitable. You can close deals in any market using tools like DealMachine, cold calling, and local buyers to inspect properties.
3. Do I need a real estate license to wholesale?
In most states, no license is required. However, check local regulations or consult a real estate attorney to avoid compliance issues.
5. How much money can you make from a wholesale deal?
Earnings vary. Ethan earned $12,000 on his first deal and $37,000 on his biggest. Typical assignment fees range from $5,000 to $25,000 per deal.
Ready to start wholesaling? Focus on action, not perfection, and let momentum build your success.
