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Updated almost 3 years ago on . Most recent reply

User Stats

41
Posts
26
Votes
Lionel Quiambao
Pro Member
  • New to Real Estate
  • Rancho Cordova, CA
26
Votes |
41
Posts

Lionel: Should've Done This A While Ago

Lionel Quiambao
Pro Member
  • New to Real Estate
  • Rancho Cordova, CA
Posted

Hi everyone, I'm a new investor from Sacramento! I'm posting my introduction because Brandon Turner told me to (from the podcast, mentioning Washington here so that he might see it lol)! Aside from the BP subscription, my next big investment was the BP Rookie Bootcamp for Fall 2021. Met wonderful people through that from all across the US! I decided wholesaling would be the low-money option I wanted to take, and I attended my first local REIA meetup not long after. There was exactly one wholesaler at that meetup, which I was set on approaching. We got together for lunch, and he told me he dropped $5k on a mentor back in July 2021, and it was the best money he had ever spent because he made that money back many times over.

That got me thinking, and after watching non-stop cheesy Jamil Damji ads from AstroFlipping, knowing I wanted to get into wholesaling, I called them up on Dec 10th, 2021. The course was $7,800! But my thought process was if I could do at least 1 deal and 1 deal averages about $9,000 - $10,000, that would pay for the course itself. The person on the phone got me in at $1,950 a month for the next four months. Going into it, I've heard some people doing their first deal within 2-3 months. After a few weeks, I also heard of it taking as long as 7 months to a year for some to get their first deal. But I guess it all depends on the amount of work a person puts in. The course came with A LOT of information. There were 6 modules for 6 weeks, each containing about 20 videos and relevant contracts. There were also Q&As every Sunday and Tuesday and Comping sessions every Thursday and Friday, each of which are recorded for all students. There were also recorded calls featuring some of the more successful students talking with various professionals, like agents, buyers, sellers, etc. Then, you also get the support of the Facebook community group with people itching to JV or help out the nubs.

In the middle of this (about 4 weeks in), I got sold on a Jerry Norton course, called the 10K Club, which dealt with bringing deals to Jerry, and if they were good deals that met his criteria, you would get $10,000. Also, if you brought Jerry a deal, you would get a refund on your initial $1,000. I've come to find out that you must get a deal every 30 days for the first 90 days to qualify for that refund. The course was 6 much more brief videos than what AstroFlipping provided. And it came with a ton of Jerry's software, which admittedly, I haven't had much time to play around with except for the Automatic Deal Finder, a Craigslist ad scraper for campaigns. But there's various tools for finding on-market and off-market leads and analyzing deals.

I missed my initial goal of closing a deal last month, but I'm working towards that goal this month! I got into wholesaling to supplement my W2 income to further my goal of purchasing rentals. I believe wholesaling is a good start for building the fundamental skills and developing the relationships necessary to accomplish that goal. This is my first business, so any advice is gladly appreciated! As for those courses I bought, I only regret the Flipping Mastery one because I don't use it, but I did learn a lot from the AstroFlipping as well as the BP Rookie Bootcamp, and like I said, met other amazing investors!

Edit: Also, forgot to mention, at the end of the AstroFlipping course, Jamil plugged Pace's SubTo course with a little introduction that sounded super intriguing! I said to myself I might take that course, but I want to do a few successful deals first. OR I might just try pair up with someone who's experienced in that area (Who Not How) lol

  • Lionel Quiambao
  • Most Popular Reply

    User Stats

    41
    Posts
    26
    Votes
    Lionel Quiambao
    Pro Member
    • New to Real Estate
    • Rancho Cordova, CA
    26
    Votes |
    41
    Posts
    Lionel Quiambao
    Pro Member
    • New to Real Estate
    • Rancho Cordova, CA
    Replied
    Originally posted by @Justin Windham:

    @Lionel Quiambao

    It’s nice to have you on Bigger Pockets!

    Make sure you check out all that this site has to offer.

    There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

    Thanks for the tips, will do! There's so much to see! What is your favorite perk?

  • Lionel Quiambao
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