We pulled lessons from Jonathan Swanson’s episode on the DealMachine REI Podcast and compared them to what other high-performing wholesalers teach, and this is what we came up with for real estate investing tips that are simple and repeatable.
Swanson’s story is a reminder that real estate rewards consistency more than cleverness. He walked away from corporate healthcare, closed his first deal for $25,000, and built a flexible life with rentals, flips, and short-term stays. His main point is clear: get off the sidelines, work your local area, and keep your marketing direct.
That is the heart of wholesale real estate. Show up, follow up, and stack reps until the phone starts ringing.
New investors stall for one reason more than any other. They wait for the perfect plan.
Swanson’s approach is the opposite. He believes steady action creates deal flow, cash, and confidence. His first deal back in 2004 was simple. He bought, did minimal prep, and sold to another investor. He made $25,000 without overthinking it.
Two decades later, he still wins with simple moves:
As Swanson puts it:
“Figure out something you want to do and just go do it.”
One of your biggest “unfair advantages” as a new investor is that you can do what most people will not do. You can drive neighborhoods, spot problems, and talk to real owners.
Swanson’s driving-for-dollars approach matches what you see from other proven wholesalers who are known for results:
Across multiple high-volume operators, the best practice is the same:
Swanson does this by driving for dollars and postcards. Other top wholesalers often blend driving for dollars with outbound calling and strong buyer relationships. The method varies, but the core engine is the same: a local list you built yourself, plus consistent contact.
If you want to do this efficiently, DealMachine helps you:
Swanson’s path is not theory. It is a deal-by-deal process.
He also learned the hard way that time can crush profit. A flip stuck in a flood zone dragged on and lost about $10,000 after holding costs. It required extra steps, such as a survey, dirt work, and an LOMA.
The lesson is not “avoid tough deals forever.” The lesson is “price risk correctly.” If the spread is thin, one problem can wipe you out.
This workflow is the simplest path from “I found a house” to “I got paid.”
Here’s the workflow in plain steps:
Swanson’s advice is practical and beginner-friendly. None of it requires a license in most areas. None of it requires a huge budget.
Drive your target area and look for signs like:
Start small. Two hundred properties are enough to get traction if you are consistent.
Swanson found that adding a headshot helped the response. It makes you feel real, not like a faceless company.
Keep copy plain:
This line reduces seller fear. Many sellers do not want fast. They want control.
This also helps you compete against “close in 7 days” marketing because you are speaking to a real human need.
Swanson tracks by list using different phone numbers so he knows what is working.
A clean setup:
When you know which list produces calls, you can spend more time and money on the winner.
In-person rooms still matter because money and deals move through relationships.
Your goal at each meeting:
Wholesaling rules vary by state. Some states focus heavily on disclosure language, and some focus on whether you are acting like a broker.
This table is not legal advice. It is a starting point, so you ask better questions when you talk to a local real estate attorney.
|
State |
What To Disclose |
What To Watch Out For |
Practical Compliance Tip |
|
Texas |
Texas has specific notice rules around assigning a buyer’s interest. Disclosures often focus on making it clear you do not hold legal title and that you are selling/assigning a contract interest. |
Failing to give the required notice to the right parties at the right time can create problems. |
Put clear “equitable interest” disclosure language in your assignment agreement and keep a standard written notice process. |
|
Illinois |
Illinois is known for stricter limits and disclosure expectations for unlicensed activity. Written disclosure that you do not hold legal title is commonly discussed, along with limits on how often an unlicensed person can wholesale. |
Repeated transactions without a license can be treated as illegal brokerage activity depending on the facts. |
Do not “market the property” like an agent. Market your contract interest, disclose clearly, and get attorney guidance early. |
|
Florida |
Florida’s licensing law focuses on acting “for another” for compensation. Publicly advertising a property you do not own can create risk if it appears to be brokerage activity. |
Marketing the property itself as if you represent the seller can cross the line. |
Keep marketing tied to your contract rights and avoid language that implies you are listing the property for the owner. |
If you only remember one thing: be transparent about what you own. In wholesaling, you are usually selling your contract position, not the property itself.
Swanson’s flood-zone deal points to a common beginner mistake. People underestimate holding costs and time.
Even if you do not borrow money, you still pay to own a house. Taxes, insurance, utilities, lawn care, and time do not stop.
Swanson’s call to action is simple: stop waiting and stack reps. Here is the same 7-day plan, organized as a LinkedIn challenge you can run to build authority and community.
Post: “I’m choosing one neighborhood and committing to it for 30 days.”
Action: Drive the area once without stopping. Learn the streets.
Post: “Today I’m building a list from what I see, not what I scrape.”
Action: Tag 50 properties and add notes on condition.
Post: “Volume matters. I’m going to 200.”
Action: Tag the next 150 properties.
Post: “I sent mail to my list. No fancy copy. Just clear intent.”
Action: Mail postcards or letters and track the list source.
Post: “Most deals are follow-up. I’m calling everyone back.”
Action: Return every missed call and log outcomes.
Post: “Deals are easy when buyers are ready.”
Action: Meet buyers at REIA, collect buy boxes, and save contacts.
Post: “The only way to learn offers is to make offers.”
Action: Make two to five offers based on condition and timeline.
If you do this and stay consistent, the first check becomes a when, not an if.
Do I Need A Lot Of Money To Start Wholesaling?
No. Many wholesalers start with a purchase agreement, a solid closing partner, and a buyer's list. The main cost is marketing and time spent following up.
What Should My First Marketing Step Be?
Start by driving for dollars to create a list based on real property conditions. Then send a simple email or call the owners and track results.
How Do I Find Real Cash Buyers And Lenders?
Show up at local investor meetups and REIA meetings. Ask who is actively buying now and what they want, then keep those contacts organized.
What Is The Biggest Mistake New Wholesalers Make?
Waiting for the perfect instead of taking steady action. The second biggest mistake is underestimating holding costs and time on deals that drag out.