How to Net $25K on One Real Estate Deal

In this season’s last episode of Meet the Investors, we’re going to find out about wholesaling in Baltimore with Elizabeth Leigh.

With that, let’s meet her!

Meet the Investor: Elizabeth Leigh

Hi! My name is Elizabeth Leigh, and I’m based in Baltimore, Maryland. I am a wholesaler who started in January 2020. Right before the pandemic in March, I started my own company. And since then I’ve closed 14 deals, and I am here to share my story with you.

Baltimore has lost some of its charm. But what we are trying to do as investors is bring Baltimore back to life.

In the video above, I will show you around a house that is pretty rough. It is exactly why the potential in Baltimore for investors is really high. We have a lot of board-ups here—over 18,000—but many of them are being renovated. The area this property is in is definitely up and coming.

How Real Estate Investing Changed My Life

Prior to real estate, I was doing construction. I ran a construction office for 20 years and then I became a project manager for a large company in the Baltimore area. I started finding out about the vacant houses in Baltimore, and then I got into real estate.

When I started to dive into it, I learned about wholesaling. So it was kind of a no-brainer to jump right into that. I had an amazing mentor. I still work with him to this day.

As a beginner, it’s hard doing your first sale, but once you get that first sale and once you make those connections—real connections with the people—that’s why I’m in the industry. I love people. The fact that I can earn a living helping people is just a bonus for me.

How I Found Out About BiggerPockets

BiggerPockets was introduced to me by my mentor. Immediately when I went on the site, I loved it. The connections with the people and how quickly people reach out to you and genuinely want to help you is amazing.

Still to this day, when I’ve posted something and am looking for properties, I will get phone calls and emails from people who have seen me on BiggerPockets and want to connect with me in different ways—whether it be wholesaling, investing, or hard money lending.

It’s been one of the biggest saving graces for me. You can go on there and ask questions, whether it’s about buy and holds, wholesaling, investors, anything you need to find out. If you want to find investors for your wholesaling deals, it is the best place to go. I have been fortunate enough to connect with some amazing people.

My Most-Recent Property

One of my current wholesaling deals that I have under contract is a multi-unit row house in Baltimore City. It gives you a good example of what you may have in store when you begin to invest. Check it out in the video.

We have this property under contract for $90,000 and are marketing it for $115,000, looking to get $105,000. The negotiation is always key in the real estate world.

The thing with Baltimore is you have the continuous cash flow; this can rent out for $3,200 a month. While the appreciation might not be Baltimore’s thing, cash flow is. So if you are looking to invest in continuous cash flow, Baltimore is your area.

How To Be a Successful Real Estate Investor

I think the reason why I’ve been so successful can be attributed to my 12-hour days and my connections with people. I’m either online and emailing investors and buyers, or I’m going and showing properties. I’m going to look at properties. I’m driving around—”driving for dollars,” as we call it—here in Baltimore and looking at properties, writing down addresses, cold calling (which is not actually my favorite).

But the best thing that I can suggest is going out and connecting with people. The people are where you need to be. The houses are everywhere. You can find them anywhere. Online especially—going to groups, checking out Facebook groups, checking out BiggerPockets, going to meetup groups, continuously connecting and checking in with your investors even after you’ve sold them a house.

You are making a genuine connection with the people. And the houses, again, are just houses. The money is going to come and go. The houses are going to come and go. But the people and who you connect with is really how you’ll be successful in this business.

My Advice to Real Estate Investors

I want to give you guys three tips that have made me successful in the wholesaling world.

Be Safe

Wholesaling street smart tip of the day: Never go into a home alone, especially a board-up, especially in a city. You never know who or what can be in there. Also, once you actually get into the house, be careful where you walk. There is wood rot; there are nails. There are a lot of things that you don’t even know exist until you go inside a home.

Make Connections

Who are you connecting with? Connect with anybody and everybody in your community and outside of the community. Facebook, BiggerPockets, Facebook groups are huge. All of these things are going to help you connect with investors, with buyers, with sellers. Friend request everyone.

People genuinely want to help other people. And if we are helping other people, then we all grow together.

Let Go of Your Excuses

I am a single mother of three, and I started out on a yoga budget. You can do anything you want to do. It’s the excuses in your head that are telling you you can’t.

Whatever you are doing or not doing, change one thing every day. When you wake up, do something to achieve your goals. Write them down, talk to people about them, go to meetup groups, whatever you need to do to change the patterns in your life.

If you are continuing to do the same thing, nothing is going to change.

Find Your Person

Find a mentor, a group. Find a person.

Find somebody who is going toward the same goals that you are, who wants to see you grow and be successful. They are out there. I have met them in that very short time that I have been in the business.

People in this industry are amazing. People on BiggerPockets want to genuinely help you. That’s why we’re here.

Reach out to your community. Let go of your excuses, send a friend request, market yourself. What makes you special? Let people see that.

Good luck out there.

How has human connection helped you in your investing journey?

Let us know in the comments.

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.