Cole Ruud-Johnson’s Wholesale Heroes Review: Is Real Estate Wholesaling Sustainable?

March 24, 2024

Wholesale Heroes is a real estate wholesaling course by Cole Ruud-Johnson and his partner, Mike Gary. The mentorship teaches the A-Z of creating, scaling, managing, and automating a real estate wholesaling business. Wholesale Heroes focuses on off-market wholesaling, cold calling, and outsourcing.

A real estate wholesaler is more of a middleman than an investor. With low capital, the wholesaler buys and sells contracts to investors. The role of a real estate wholesaler is to find off market properties (often distressed properties) to buy under their name and then sell to investors who fix, flip, or rent the properties. Real estate wholesaling is not a passive business. You need to constantly put in time and effort to bring in leads. Outsourcing only adds spending and increases risks.

Local lead generation is a passive income business model. It is a form of digital real estate in which you create and rank a site on Google and rent it out to local businesses. Like long term real estate rentals, you earn passive and predictable passive income. With local lead generation, you don't have to deal with the issues that real estate has, like property maintenance, restrictions and regulations, and high capital requirements. Check out local lead generation for a low cost, low risk, easily scalable business.

Is Real Estate Wholesaling Sustainable?

The idea is to consistently look for properties that are willing to sell and investors that are willing to buy them. This makes your income flow from real estate wholesaling unpredictable if your deals are inconsistent. Real estate wholesaling also heavily relies on the state of the housing market. Any housing crisis that affects housing availability and prices in your area will affect your business. If you are looking to make short term profits to increase your capital for another business model, real estate wholesaling can be a good business.

A real estate wholesaler aims to make short term profits, while a real estate investor aims to invest in long term returns. A real estate wholesaler does not have to be a licensed agent. An agent represents a client while a wholesaler sells contracts. The difference between real estate wholesalers and brokers is that a wholesaler takes the title of the property or note before selling it to a buyer, while a broker does not.

Cold calling is one way you can do real estate wholesaling. You can get 60 leads in 90 days by making 200–350 cold calls (not conversations) in a day. You can pay as little as $6 an hour to outsource cold calling. One wholesaling deal can make you as little as $5,000 or as much as $100,000 in profit.

Cole works 20–30 hours a week managing his wholesaling business, which is run by his call center business. He has currently expanded his business to include fix and flip deals. Other real estate wholesaling courses, like Jamil Damji's Astroflipping, teach other ways of finding leads other than cold calling.

Cole Ruud-Johnson’s Wholesale Heroes Review: Pros and Cons


The courses cover everything you need to start and scale a real estate wholesaling business.

Cole and his partner Mike are experts at real estate wholesaling through cold calling. You will also have access to their office and in-person events.

The lessons cover outsourcing that allow you to scale and automate. Cole also offers a separate course on creating a call center business.


No price transparency.

The course only teaches cold calling as a way of getting leads.


Price is offered during the discovery call.

Refund Policy

No refund policy listed


Cole Ruud-Johnson is a verified licensed broker and successful wholesaler. He is featured on the famed and trusted real estate forum and podcast, BiggerPockets.

Who Is Cole Ruud-Johnson’s Wholesale Heroes Review For?

  • Real estate wholesalers who want to learn how to find off-market deals, scale, and automate their business.
  • Newbies who want to learn how to start a real estate wholesaling business from scratch.

You can expect to learn from Wholesale Heroes the step-by-step process for creating a real estate wholesaling business. From the initial setup and finding off market deals to marketing your contracts and automating your business, the program covers it all. If you're looking for alternatives, Investor Creator is another option. Brad also helps wholesalers to hit their target mark. 

What Do You Get With Cole Ruud-Johnson’s Wholesale Heroes Review?

With Cole Ruud-Johnson's Wholesale Heroes, you get lifetime access to the video courses, access to the Google Drive that has all the processes, tools, SOPs, and more, and bi-weekly calls. You also get an 8-week, done-with-you full business set-up and access to the private Telegram and Facebook groups. Furthermore, you will have access to the Hello Pad office in San Diego and in-person events.

Regularly Updated Video Courses:

  • Acquisitions Course
  • Dispositions Course
  • Underwriting Course
  • Marketing Course
  • Hiring & Team Management Course

8-Week Intensive Done-With-You Program:

  • Week 1-2: Systems
  • Week 2-4: Marketing
  • Week 4-6: Sales
  • Week 6-8: Dispositions & Operations

Are Students of Cole Ruud-Johnson’s Wholesale Heroes Successful?

There aren't any reviews on Cole Ruud's Wholesale Heroes outside of the official site. There are a handful of video testimonials on the site from students who were able to make their first $100K in a month.

wholesale heroes review

Cole Ruud-Johnson is one of the top real estate wholesalers, so you can expect his program to be among the best of real estate wholesaling courses.

Who Is Cole Ruud-Johnson?

wholesale heroes review

Cole Ruud-Johnson is a licensed real estate broker, wholesaler, and mentor from San Diego, California. He founded HelloPad in 2018 at age 19 and had done 150 deals by age 21. HelloPad has done over 400 wholesale and flip off-market deals. Cole also founded a call center, Easy Button Leads, that has over 200 employees.

Cole was basically born into the world of real estate. His great-grandmother created a brokerage in Seattle, Washington, called Ruud Realty. His grandparents did commercial real estate, and his mother and brother also became real estate agents. Cole took business administration and management at Azusa Pacific University but dropped out after a semester to enter the real estate industry.

Cole was featured in the BiggerPockets podcast after closing 150 wholesale deals by age 22. He has since been featured in several other interviews in relation to off market real estate wholesaling.

Who Is Mike Garry?

wholesale heroes review

Michael “Mike” Garry is a real estate wholesaler, mentor, and US Army veteran from San Diego, California. Mike met Cole a few months after he left the army and started cold calling. After working and closing consistent deals as the acquisitions manager for HelloPad, Mike was made a partner in 2020.

Is Real Estate Wholesaling Worth It in 2024?

Real estate wholesaling is worth it in 2024 if you are willing to invest a lot of time and money into it. You need to have a capital of at least $5,000–$10,000 for each deal and spend entire days looking for leads. You need to pay for tools like a CRM, a list tracker, call tools, etc. If you are willing to spend on outsourcing and other tools that are required to build a team, you can free up your time and increase the flow of leads.

Success with wholesaling depends on how many properties you can acquire and sell. You need to invest a lot of time and resources looking for properties, checking the property to make sure you can get it at a profitable price, and looking for buyers. Even with current technological advances, it will still take a lot of time to look for houses and contact owners to convince them to sell at a bargain price. Wholesaling deals with distressed off market property, which can be challenging to find. Finding buyers that would buy the house as is at a price at which you can make a profit is also tricky.

With Cole Ruud-Johnson's route, he was an experienced real estate agent, and his family that works in real estate had a lot of contacts. He did wholesaling full time until he saved enough capital to start his own call center business, which he used for his wholesaling business. Only by investing in a call center was he able to rapidly scale his business and free up his time.

You can check out other real estate investment strategies to see what fits you best. If you are looking for an all-around course that teaches different strategies, I recommend checking out Ryan Pineda's Wealthy Investor program.

Why Is Local Lead Generation Better Than Real Estate Wholesaling in 2024?

Local lead generation is my number 1 business model recommendation for 2024. Compared to real estate wholesaling, in which you need to constantly find deals, local lead generation creates passive income, such as in the traditional buy and rent real estate business.

Real Estate Wholesaling

Local Lead Generation

Startup Cost

You need substantial capital per deal in order to buy property and have the title transferred. Outsourcing also adds additional costs.

With as little as $500 in initial investment to cover tools, the domain, and website hosting, you can create and rank your site on Google.


You are competing with thousands of real estate agents and investors, many of whom have a lot of capital to work with. You also compete with other real estate wholesalers using the same tools and tactics.

There are hundreds of niches and thousands of local areas to pick from. You only need to compete with as little as a couple to a dozen other sites or local businesses.

Profit Margin

The average profit margin of real estate wholesale deals is 3%–6%. Relative to how much you invest, you can make over $100K in one deal, like Cole Ruud-Johnson's first deal.

A highly profitable business model with margins are as high as 90%. Each site can earn you $500-$2000 a month of completely passive and predictable income.


To scale your real estate wholesaling business, you need to create a team or outsource work. This only increases operating costs and increases risks.

Scaling your local lead generation business is as simple as repeating the process of creating and ranking a site on Google for another market and renting it out local businesses.


If you don't consistently find deals to wholesale, your cash flow will be unpredictable and could be negative if you are paying for outsourcing.

The business basically runs itself. As long as your sites remain ranked and are bringing in leads for your clients, you will continue to earn passive income.

There are no limits or barriers to scaling your local lead generation business. This means you can scale as much as you want. This makes local lead generation the best business model to create time and financial freedom.

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Ippei Kanehara

$52K per month providing lead generation services to small businesses is for digital hustlers, industry leaders and online business owners.

His #1 online business recommendation in 2024, is to build your own lead generation business.

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