Motivated Newbie Wholesaling in Chicago, IL

[Xavier Y.]

Hello BP Community!

My name is Xavier Yepez and I'm a part-time real estate investor out of the Chicagoland area. Currently focusing on wholesaling and networking in order to build a top-notch, quality team around me comprised of knowledgeable investors, realtors, attorneys, contractors, etc. I started a real estate investment company with my two brothers this year, we have just started the adventure!

I have an engineering background. My twin brother (we're fraternal twins - we don't really look alike) has a finance background and my younger brother has a communications/sales background.

We are looking to gain experience and knowledge through wholesaling and quickly move into rehabbing properties. This is why it is crucial to have people behind you, who you can depend on, that work efficiently and are motivated to succeed.

I look forward to meeting/networking with many of you and partaking in the wealth of knowledge that is the BP Community!

[Wendell De Guzman]

Hi Xavier and welcome to BP.

You are on the right track to start wholesaling properties first. I am an experienced wholesaler. One of the things you need to do very quickly is build a solid buyer's database. To be able to do this, it helps if you have wholesale properties you can market and sell.

How do you have properties you can market and sell if you don't have them yet? One quick way is to work with other wholesalers and help them sell their inventory. For instance, I get 1 house a week on average. In fact just this week alone, I got 4 new properties. I am open to other wholesalers helping me sell my inventory. I also help other wholesalers sell their inventory to my buyers.

Once you have properties to sell, you need to market them extensively or what I call "eXtreme marketing". By doing so, you will get a ton of buyers calling you. You need to save these buyers' calls in a database or a CRM software. I use a database system that allows me to send a text blast or a voice blast to everyone who called me on a house in a certain city or part of town. So when I have new inventory in that town, all I need to do is click a button instead of me calling hundreds of people.

Once you have a solid list of cash buyers (rehabbers), the next step is to become better than everyone else in finding good deals. You have to make an insane amount of offers. I make 100 offers everyday. But I did not start that way. You have to have multiple ways to find properties that are outside the MLS. Then you have to put in the work.

Let me know how your foray into wholesaling works for you. It's always good to find new people from the Chicago area here on BP!