Newbie Wholesalers

Newbie Wholesalers

East Stroudsburg, PA · Member since 2015 · 22 posts · 10 votes

what's going on BP?   First I was like to say, this site is a great source for information.   You have so many minds coming together to share their wealth of knowledge with you.   I don't have a question about wholesaling, I would like to just state something.

To the newbies.

You come on here to learn.   It's as simple as that.   The main idea of wholesaling is taking what you've learned and applying it.   It took me 2 weeks after I figured it out to get my first deal, and now I have 5 waiting to close, all within a 2 week span, and I started last month.   You just have to apply and focus.   True story, I'm a convicted felon.   So as far as it goes for looking towards a regular job, the odds aren't in my favor.   So I chose to get into real estate as a way to provide for my mom, simply because I made a lot of mistakes, and I owe it to her for making sure she knows she's appreciated.    If I can do, you can do it.   Ask questions and learn.    

To the negative people on here.

You should be ashamed.   You were inspired some way to get into real estate, and when see a post on here from somebody new that's trying to find a way out of their current situation, and you down play it, making it seem like it's hard, you give them a false insecurity, and then they stop being interested.   Instead of giving harsh words, why don't you raise these newbies?   How about pushing them to be successful as far as they want to go?   I had no help, just looked up laws, different deals, and how to structure deals and I WAS GOOD.   So it disappoints me to see so much negativity on here.   But I can't blame them for being that way ( mean people ) I guess it's just in their blood not to love and spread positive vibes.    

I've learned from my mistakes, and what I've gotten out of it was this.

Learn & Apply, and above all, NETWORK!

RIP 2Pac & Biggie

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  • Chris K.Pro Member
    Investor · Baltimore, MD · Member since 2012 · 1k+ posts · 655 votes
    10y

    Good for you for going out there and getting deals done. Pretty impressive to get 5 deals within a month of starting. You will do well if you keep pace. Care to share the details of the deals? Howd you market? How much was your spread? I know people who've been doing it for years who have never done 5 deals in a month. 

    I agree with you on the negative people. If you're not there to help then no point in making negative comments. With that said not everyone has bad intentions when they say negative things or things that "appear" negative. Wholesaling is by no means easy so some people may just be grounding people who may have been hyped up after attending a $997 seminar. 

    Lol @ Rip 2Pac and Biggie

  • Wholesaler · Waldorf, MD · Member since 2015 · 459 posts · 245 votes
    10y

    @Jay Walcott great story and attitude!! Give a little backstory on the deals, please.

  • East Stroudsburg, PA · Member since 2015 · 22 posts · 10 votes
    10y

    @James Green @Chris K.  the first deal I've done, there was this guy.  He had a house in Shendenoh PA, I don't think I spelled it right lol but he lived in NJ.   I contacted him via Craigslist.   The price he was selling it for was ( no bs ) $1.   I thought to myself, there's a catch.   No way, NO WAY does he want a dollar for a property!   The property had fire damage on the roof and the second floor, it was single family.    So I contacted him.   I spoke with him, cool guy.   He told me that he lives in NJ, the house caught on fire from a tenant that use to live there.   So we spoke more about the house, and then it came down to price.   I told him " Sir, I seen on your ad that you were asking for a dollar, I mean I know you're not selling for buck, so what's your REAL asking price?"   He replied ( once again no BS ) "A dollar".   I said, " like 4 quarters?" .  He said yes because he was collecting the insurance money from the fire.   Morally, I felt bad taking his property for a dollar, so I told him, what price would you truly like for the house?   He said $500, and I said done.  I was upfront with him and told him what I planned to do, and he said go ahead and make your money.   I sold it for $4,500.   I can't speak too deeply about the other deals, but I will say this about how I got them.   Business cards and being in the hood.   I'm from Mount Vernon NY, but lived in the Poconos PA, Fairborn OH, Harrisburg PA.   I bounced around and shook hands with people at clubs, sporting events, jail, and college for a semester.   My business cards, and my self marketing ( knowing how to speak and relate with people ) helped me.   I was referred to the other properties.   People I knew, knew people that were selling their houses.   And I took it from there.   And not once did greed ever cross my mind, because you're dealing with people and their houses.   I don't do the whole direct mail or anything like that, I should, but choose not to.   Like I said, I just know people in the hood and they trust me, and I make it happen because TRUST is more important.   Trust makes you money.   If the owner doesn't trust you, how can you sell their house or even MAKE A DEAL?   I don't have a website or do what these other guys do, because I relate to the people.  And that's what they don't teach you.  That, I feel like will make you stand out way more.   Learn how to put together a deal that wins for everybody, and follow up.   It's not complicated as many make it out to be, it's a service.   And I lucked out by having a cousin that's a lawyer lol 

    DONT QUIT AND BE YOURSELF!

  • East Stroudsburg, PA · Member since 2015 · 22 posts · 10 votes
    10y

    @Chris K. the spreads were between $25K-$30K.   Decent shape houses, but I'm only making $2K off of each house.   Like I said, I'm not greedy.

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