In this episode, I interview Sharon Vornholt. Sharon has been investing in real estate since 1998. She is also a blogger, coach, online marketer, and a regular contributor of articles for several national sites for real estate investors.
At the start of the show, I let everyone know that Sharon is a highly successful real estate wholesaler. She did not start as a wholesaler; she started her career in real estate with a successful home inspection business back in 1991.
Sharon then worked as a rehabber and a buy-and-hold landlord. She did it all this part-time while running her home inspection business.
She became a full-time wholesaler back in 2008 when the market crashed. Sharon struggled to figure out the whole rehab thing early on. She knew people from her local REIA, and called on them when trying to sell a house. It was also around that time that she became aware of the fact that, in order to be a successful buy-and-hold landlord, she would have to have 50 or more properties; that thought did not make her happy at all.
Because wholesaling is such an active type of real estate investing, Sharon shared with us that her long-term passive income strategy is teaching others through product creation.
Sharon explained that as, a wholesaler, the most important aspect of your business is marketing. Sharon is an expert marketer, and she shared tons of great information about marketing and its importance in real estate.
When I asked Sharon for a typical day in her business, she said that she tries to keep a tight control over the very beginning and the very end, but the middle of the day is often unpredictable. She did share a tip about when to look at houses; basically, she tries to look at houses between 11:00 AM and 3:00 PM in order to avoid rush hour traffic. That’s a great tip for any real estate investor.
The biggest mistakes that Sharon sees new investors making is that they pay too much for their houses. New investors need to go out on the field and look at houses, so they can become familiar with their target areas, the rehab that needs to be done, and the cost of that rehab. Sharon also mentioned the importance of networking and real estate groups in your local area in order to build your contact list and make connections with people in the industry. I could not agree with her more! Networking is huge for any real estate investor, and especially for new real estate investors.
Sharon went into very good detail about her business and how she has made it the success that it is. Particularly for wholesalers, the information she shares is incredible! She also gave an ingenious strategy for finding people to put on your wholesale list.
LouisvilleGalsRealEstateBlog.com – Sharon’s website
Probates and Absentee Owners: Your Fast Track to Real Estate Riches – Sharon’s free Report.
DropBox.com– file sharing software
Fiverr.com – Get anything done for $5.00 on Fiverr.
Postlets.com – create great flyers
Oovoo.com – create great videos