Sharon Vornholt started out in the real estate industry running a home inspection business in the Louisville, Kentucky area. She had a great business going but when she discovered real estate investing that was all it took to get her hooked. In this episode Mark Ferguson asks Sharon about her story, the transition into investing in real estate, and the things she’s discovered along the way.
In 2008 the bottom fell out of the real estate market in Louisville, Kentucky and Sharon Vornholt decided it was time to stop being a landlord and became a full time real estate investor. Her favorite means of investing is wholesaling, which means buying distressed properties and turning them around quickly by selling them to cash buyers - either house flippers or landlords. Sharon shares how she goes about that process in this episode of Invest Four More.
What does it take to be effective at wholesaling? Sharon Vornholt is convinced that one of the main things needed is an aptitude or skill in marketing. Without marketing, there’s no way to find the right properties or the people who are going to be eager to buy them. Sharon is so convinced that marketing is the most important skill wholesalers need to learn, she does live events to teach investors good marketing practices that can move their businesses forward.
In this great episode of Invest Four More Sharon Vornholt is going to share why she doesn’t think you need a huge buyer’s list to be successful as a wholesaler, why she does primarily wholesaling over rentals, and the biggest mistake she’s seen most beginning real estate investors make that can cripple their business.
Toward the end of the episode Sharon shares the importance of letting the numbers speak when it comes to assessing a wholesale deal. Too often investors will talk themselves into a deal rather than letting the facts the numbers portray inform them about whether the property is a good deal for them or not. Sharon’s advice is powerful.
All that on this episode of Invest Four More.
OUTLINE OF THIS POWERFUL EPISODE
Sharon’s background as a Home Inspection company owner.
How Sharon transitioned into Real Estate Investing in 1998.
The first real estate investment Sharon did in 1998.
How the real estate crash moved Sharon to become a wholesaler.
Why Sharon transitioned away from rental properties into only doing wholesale.
Why Sharon advises new investors to bring on other team members early in the process.
Vital mindsets you have to develop in order to build a good team.
How Sharon got started using direct mail to find off-market wholesale properties.
Why Sharon built her blog for the sake of building a brand and the pros and cons of having a busy blog.
The purpose of Sharon’s live events and how they help investors develop marketing strategies and plans to fuel their business.
The biggest challenges for new wholesalers.
How to be careful when dealing with Real Estate Agents who think they have a good deal for your.
The biggest mistake Sharon made.
LINKS MENTIONED IN THIS GREAT EPISODE
Sharon’s website - http://LouisvilleGalsRealEstateBlog.com/
Sharon’s podcast - Let’s Talk Real Estate Investing
http://louisvillegalsrealestateblog.com/podcasts-lets-talk-real-estate-investing
