Kent Clothier is someone that I have an enormous amount of admiration and respect for. The funny thing is that for much of his adult life, Clothier was successful. He joined his father at 17-years old in the grocery business.
But not in the traditional sense. They were doing arbitrage on a wholesale level, with massive truckloads. What does that mean exactly? They would buy truckloads of grocery goods like coffee in one market and turn around and sell it in another market. But after doing that traditionally for a while, he started to go directly to the wholesale buyers and ask them what they wanted. He created demand first.
Then, turned around and bought what they needed. This is called reverse wholesaling. By lining up the demand first, then sourcing the product, Clothier figured out that they could exponentially scale their business. And by the time he was 30 years-old, that business was generating nearly $2 billion in revenue.
But after a dispute with his partners, he walked away, thinking he could start again and succeed. Fast forward 18 months, and the million dollars he had left in his bank account after he left, dwindled down to $5,000.
With his back up against the wall, he had few choices. One late night, surely battling his biggest fears, he caught a real estate infomercial. It was all about wholesaling properties. Within the first 30 days after purchasing that program, Clothier studied day and night, went out there and took action, and was holding a check in his hands for $8,000.
That $8,000, which paled in comparison to the money he was making previously, was easily worth a million dollars in his mind’s eye. It meant freedom. Freedom from the shackles of despair and the fear of cataclysmic financial collapse.
However, what Clothier did that was so revolutionary was building a system called REWW for reverse wholesaling properties. That means, he brought his knowledge of arbitrage into real estate flipping. And he developed a system that houses all the data to support it. It was sheer brilliance, and by all means Clothier is a leader in the industry, teaching tens of thousands of students his exact strategies for making millions of dollars without risking virtually any capital.
But not in the traditional sense. They were doing arbitrage on a wholesale level, with massive truckloads. What does that mean exactly? They would buy truckloads of grocery goods like coffee in one market and turn around and sell it in another market. But after doing that traditionally for a while, he started to go directly to the wholesale buyers and ask them what they wanted. He created demand first.
Then, turned around and bought what they needed. This is called reverse wholesaling. By lining up the demand first, then sourcing the product, Clothier figured out that they could exponentially scale their business. And by the time he was 30 years-old, that business was generating nearly $2 billion in revenue.
But after a dispute with his partners, he walked away, thinking he could start again and succeed. Fast forward 18 months, and the million dollars he had left in his bank account after he left, dwindled down to $5,000.
With his back up against the wall, he had few choices. One late night, surely battling his biggest fears, he caught a real estate infomercial. It was all about wholesaling properties. Within the first 30 days after purchasing that program, Clothier studied day and night, went out there and took action, and was holding a check in his hands for $8,000.
That $8,000, which paled in comparison to the money he was making previously, was easily worth a million dollars in his mind’s eye. It meant freedom. Freedom from the shackles of despair and the fear of cataclysmic financial collapse.
However, what Clothier did that was so revolutionary was building a system called REWW for reverse wholesaling properties. That means, he brought his knowledge of arbitrage into real estate flipping. And he developed a system that houses all the data to support it. It was sheer brilliance, and by all means Clothier is a leader in the industry, teaching tens of thousands of students his exact strategies for making millions of dollars without risking virtually any capital.
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