How Many of Your Deals Fall Through?

[Alison M.]

Hi all, I'm a little bummed tonight about a deal that has hit a bump and it got me to thinking - on average how many of your wholesale deals don't work out?

I've had 2 in a row since July that have cratered, both from sellers who wanted more than the market would support. Overall all I'd say about 30% of my wholesale contracts never get to close. Anyone else want to share?

Not looking for advice, just thought we could exchange some war stories :-).

Alison

[Aaron Mazzrillo]

When I first got started, I used to suffer from the same illness - lostdealitis. It is a horribly dreadful feeling. While lamenting my situation publicly, a very successful wholesaler said to me;

"In this business, we sit at our desk all day long and little clouds of equity pass over. We constantly throw a lasso up and try to wrangle them in. Most get away, but every once in a while, we're able to get that lasso around one tight enough that we can reel it in all the way down to our desk and create a check out of it."

Hearing this, coming from a guy who has been doing this business for almost 30 years and is still closing at least one deal a week, opened my eyes to the reality of real estate.

As Jimmy Napier said, "It isn't the ones that got away that harm ya."

Keep throwing up your lasso and be happy about the ones you reel in. Time spent thinking about the ones that get away is better invested looking for new ones to throw a lasso at.