You don’t get a steady income, plus benefits.
If you’re someone who prefers counting on an expected income every couple of weeks, you need to decide how important that is. Due to the nature of the process, you can’t predict when you’re going to find a great property, line up that buyer, and have all the paperwork go through. You’ll also be in charge of funding your own retirement account and making sure you have health and other necessary insurance. However, there are some ways to lessen the stress that can come with an unsteady income, such as ensuring you put some of your profits into a savings account that can help cover you if you hit some leaner times. It’s also helpful to take a good look at your financial habits to make sure your money is going to the right places and you’re not overspending. Also, keep in mind that “unsteady income” doesn’t mean “less income.” Yes, you might sometimes have to wait a little longer for payday, but a great investment deal can make it well worth the wait.
You don’t have control over whether the deals go through.
The truth is that sometimes deals don’t go through, and it might not even have anything to do with you. For example, sometime buyers simply back out. (Yes, they can legally do this.) This can be even more stressful than the irregular income, especially for investors new to wholesaling. According to The Real Estate Wholesaling Bible by Than Merrill, new wholesalers have about a 50% chance of deals successfully going through.
This stat might seem off-putting. However, when you know
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