In this instructional YouTube video, seasoned broker and investor Joe Homs (over 40 years of experience) warns real‑estate wholesalers about three major pitfalls that can erode profits: wasted time, wasted money, and wasted effort. He explains how time‑draining tasks like manual cold‑calling can be offloaded to virtual assistants and managed with a CRM; how money can be squandered on ineffective lists, unused subscription services, and automatic payments that go unnoticed; and how effort is lost when sellers monopolize phone time with repetitive conversations, leading wholesalers to linger too long on unproductive deals. Throughout, Homs urges viewers to adopt systematic, technology‑driven processes, regularly audit expenses, and enforce strict time limits with sellers. He closes with a call‑to‑action for comments, further video recommendations, and offers personal assistance.
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In today's video, I'm going over 3 things every wholesaler needs to be aware of so that you can make lots of money. Coming up next. If I asked you, the real estate wholesaler, what's the biggest thing holding you back? Most would probably respond with things like competition, unrealistic sellers, and cost of marketing. While those do play a factor, they're not nearly as detrimental to your business as these 3 things. Welcome back to the channel. I have over 40 years of experience as a broker, mentor, and investor. Please like and subscribe to this channel and share with anybody that you know that wants to live the life they've always wanted through real estate. Number 1, wasted time. Your time is really valuable. Is there some way that you can shift some of the responsibility, uh, the cold calling for example, to a virtual assistant? The keeping track of who you're calling to a CRM. Those are time wasters, and you want to start to get away from those type of time wasters and move into systems that are going to assist you. Number 2, are you wasting money? Are you pulling bad lists out there? We're concentrating on absentee owners right now. Because they may have tenants in place that haven't been paying their rent for over a year. I've seen as much as 3 years since COVID started, and they're still in there not paying rent. So are you wasting services? Are you paying for something that you're not using? Take a look at all that stuff, because once you start applying for this app or that app or this service, it becomes an automatic payment every month and kind of out of sight, out of mind. You forget about it. So every once in a while you should review everything that you're paying for and make sure that you're actually using that service. Number 3, wasted effort. And again, and we've talked about this in number 1 and 2, are there ways that you can improve what you're doing? Another big time waster are the actual sellers themselves. Some may get you on the phone and keep you on the phone for literally an hour. Or more. Now, it's great you're trying to build up rapport, but then there's a certain time frame for that rapport building to where it falls into time waste, and you need to manage your time correctly. If somebody keeps talking to you about the same thing over and over again, they're just wasting your time. It's time to cut bait and move on and go to that next person. What would you say is the biggest thing holding you back? Let me know in the comments below. If you've been on the fence about wholesaling, click on this video right here. I've laid out plenty of reasons why you should start today. As always, feel free to reach out anytime. I'm here to help.
