Today I’m excited to bring you an interview with Tom Krol, an incredible wholesaler from Florida. Tom shared so much about his story and his business with the listeners of Just Start Real Estate that I decided to split his interview into two parts. Trust me, if you’re even a little interested in wholesaling, you’re going to want to look out for part two next Monday! I’ve been pursuing Tom for the past couple of weeks and I’m so glad I was able to bring him on the show.
Today is Tom’s two year anniversary in the real estate business, and he’s just killing it! He describes wholesaling as the cornerstone of all real estate investing and says he often can’t believe it’s legal because it’s such a great, honest way to make a fortune in a short amount of time.
Before Tom got his start in real estate, he lost his job selling long care service, and he says that was the fifth time he had been fired from a sales job. But you don’t have to be a salesman to be a wholesaler! He says you want to be a deal-finder, not a deal-creator. After he lost that job, his brother Todd Toback urged him to consider real estate. Tom was initially very skeptical, but Todd convinced him to try it and showed him the ropes.
Tom started his career by educating himself as much as possible and soaking in information from podcasts, but it took him a while to realize that it was time to actually start! He describes that first phase as “too much education and not enough action”, which I know a lot of the listeners of this show are familiar with. Tom and I discuss analysis paralysis and how to cross the hurdle of education to get started.
The secret is:
You are never going to know everything about wholesaling. You have to be comfortable not knowing. You have to be comfortable being uncomfortable.
Tom has a very impressive business right now. He does a phenomenal job of utilizing other people’s time and energy, and he gave great advice on hiring people for your business, and specifically on hiring virtual assistants. Listen to the full interview to hear Tom explain the difference between a visionary and a leader, and how he finds and utilizes his employees’ talents. He currently has great systems in place and everyone who works for him has very specific tasks to complete every day. His business is really a well-oiled machine, and I strongly suggest you listen to the interview for the details of his day-to-day.
Check out Tom’s website at hotseatwholesaling.com for more information about Tom and his business!
Tune in next Monday for the second half of this awesome interview!