how long did it take to close your first deal

Question

Not saying I'm giving up but, how long did it take to wholesale a first deal???  I need a little motivation today.

I've been actively marketing for 6 months now; mailer to probate & absentee, just started using bandit signs a few months ago, D4$ a few weeks.  I've got 26 leads made 10 offers.

I don't have a huge budget cause i just had a baby and bought my first house around the same time i decided to get into wholesaling.

what could i be doing better??  i know it's a numbers game, but 6 months of no results is taking a toll on my enthusiasm.  thanks guys

Rick H. · Answer

It's like fishing. Some catch and some don't. I can go on about metaphors but will spare you the agony.

Here's the way to look at deal flow:

Think of it as a sales funnel. You need X amount to go in, to convert Y prospects and close Z deals. Traffic>Conversion>Monetize.

If you're not getting enough prospects, you have a traffic problem, meaning that you're not getting enough people respond to your offer or proposition.

If you are getting lots of responses but not converting, you either have a problem closing or, more than likely, a problem attracting qualified people and repelling the ones who will not close.

Break it down to figure out where the problem is then you can focus on solving the specifics of the problem and after resolving that problem, improve something else.

Never forget to keep working on your business. It's a more challenging job than people sitting in their basements in their underwear give investors credit for.

I might add that I'm grateful for those who quit looking for gold 5 feet from the vein. It makes my job easier. If that's you, then thank you in advance.

Plan your work and work your plan but don't plan the results.

Donna Jones · Answer

Hi! I started this journey June of this year and I closed on my very first deal last week Friday! I marketed to vacant homes ONLY and I got quite a few leads and I actually still have a few leads pending with that list. Just remember..... they might not call you today but just when you least expect it they will give you a call. Don't give up and remember people are succeeding with investing all they time its just all about consistency and endurance.

Mario T. · Answer

Rick H.

you have no idea how much what you said impacted me.  my mentality changed completely.  I know this is a little late, but I appreciate the advice

Joe Villeneuve · Answer

@Mario Ta2 weeks.

Jordan Thibodeau · Answer

I'm not a wholesaler but it took me 6 months of traveling to Sacramento every weekend to preview roughly +100 plus homes, and I made 10 offers before I closed on a Duplex.

Maybe some other wholesalers can chime in.

how long did it take to close your first deal

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