My FIRST wholesale!!!!

[Gina Worsham]

I'm so excited!  This month I made my first wholesale deal and am so ready for the next one! 

[Gina Worsham]

Thank you Claudia and Raquel!  It is great to share a win!  This one actually was easy, but I had been looking, calling, working for 3 months before this one happened and was getting discouraged

.   A friend who didn't know I was wholesaling actually mentioned to me that she needed to sell her home.  I told her what I was doing and we came to an agreement.  I immediately went home and started doing my homework on the property.  After a few hours in front of the computer, I decided to post it on my Facebook page.  A friend of mine sent an immediate response that she wanted to see the house.  She bought it on sight.  We are in the process of closing right now.

The seller owned the property outright - no mortgages.  She was willing to do some owner financing.  The buyer needed owner financing.  The buyer has been in a 950 square ft apartment for the last 2 years but couldn't get traditional funding for several reasons.  She is moving into a 2,950 sq ft home and her total payments are no more than the 950 sq ft apartment!  She is thrilled!

The one thing I've learned is make sure to know the closing process (in Arkansas, in order to get the taxes transferred to the buyer, we have to file a Warranty Deed and Mortgage.  I'm the wholesaler, and I'm in charge of this process - all new).   There are some other things that I didn't know about, until I had to find out.

 All the teachers said, "make connections with Title companies, lawyers, etc"  This is why.  You need to have someone who will be ready when you are.  Make the connection before you need them.  Otherwise, they will drag their feet.    The one I had talked to dropped the ball completely.  I cold-called another company and will probably use them for all my closings from now on.  She went into detail about the closing options and spent time with me. 

My goal is 2 wholesales a month.  January is almost over, so if this is my only one this month, I'll work towards 3 in February. 

I look forward to celebrating with you and building a strong network to encourage each other.

Gina Worsham