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Updated about 9 years ago,

User Stats

91
Posts
31
Votes
Shella Sanders
  • Flipper/Rehabber
  • Dallas, TX
31
Votes |
91
Posts

fake it till you make it

Shella Sanders
  • Flipper/Rehabber
  • Dallas, TX
Posted

started wholesaling this year with no knowledge at all, just a friend who is a real estate agent that taught me how to comp properties on mls. Everything else I had to figure out myself.. bought a couple "guru" online courses, sent mail out, figured out that I could pull absentee list for free from tax roles.. when the calls started coming in, I wasn't nervous, I am a people person, so I just had friendly conversations with the sellers more about their situation that causes them to want to sell than actually about the house itself. And everytime they would ask something I didn't know I would play it off or say I gotta check with partner and I work on finding out after getting off the phone. (On my first deal the seller was 80years old trying to unload his 5 or 6 rentals and he was asking me about 1031exchange so that he could avoid capital gains tax and I had NO CLUE what he was talking about lol I ended up wholesaling 2 of his houses but a more experienced me could have sold that whole package to another investor for a bigger spread)

I would pay an agent to go see the properties that had the time, wanted to be involved with wholesaling, and knew what to look for because Im starting to learn now the basics of rehab and what things cost, but I had no clue. Then when I went to a few houses myself to get the experience, I had no idea what to look for, I was just snapping pictures away of any little crack in the wall I saw, any every appliance or thing that could possibly break. 

I am the perfect example of faking it till u make it. I think it is AMAZING that this world of real estate investing allows total newbies to get in and learn as they go, even with little to no money to invest (wholesaling). I couldn't believe when my agent friend even told me in the beginning that I could do this without being an agent or studying anything. I had just had my first born son late last year so I had been a stay at home mom early 2015 looking for something I could do from home to generate income. By the summer I was rocking it out. took me two months to do my first deal. Actually my first two deals closed the same week one for 6500 and the other for 2500. Havn't turned back since! But I still have sooooooo much to learn and I learn everyday, a lot attributed to BP podcasts and forums I read and listen to and learn new terminologies. I am turning into a savvy RE Entrepreneur. Life is good

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