Wholesaled my first house completely virtual

[Kurush Italia]

Hey Everybody,

It feels good to finally say that I completed my first real estate transaction! I joined biggerpockets early last year and started learning as much as I possibly could.. maybe even for a little too long. After doing some research I figured out that I wanted to wholesale virtually since I live in the dreaded Southern California market.

After doing some research at the end of last year I settled on Tampa as my new virtual farm area. I started a direct mail campaign for 3000 prospects to target zip codes beginning January of last year. I shortly got a deal under contract the last day of February and closed on it last week (5 weeks start to finish)! The numbers looked a little like this:

Contracted price: $35,500

Sales Price: $75,000

Not bad for my first deal eh? ;)

Bigger pockets has been an amazing resource. Not having stepped foot in Tampa using bigger pockets I found trusted people to work with. This site helped me find @Brandon M. who not only has been great to work with but also a tremendous resource since he invests in Tampa as well. He was my boots on the ground, coordinated showings and performed flawlessly in some tough situations. I'd also like to thank Anchor Title and Associates for their speed in the whole closing process. Their turn around time for all documentation needed was very impressive. All around a very smooth closing for my first ever home purchase. I would recommend both to anyone.

Thank you Bigger Pockets for all the valuable information and networking. This is only the beginning. I'm going to ramp up my marketing and automate my systems. My goal is to wholesale 14 more houses by the end of this year. To all the newbies my word of advice is take action as soon as possible. Sitting on the sidelines learning is great but you really won't learn until you get yourself in those situations so keep putting one foot in front of the other and fall forward. If anyone is interested in the Tampa market feel free to reach out to me.

[John Thedford]

Originally posted by @Chris Purcell:

On another side - @Kurush Italia   I wouldn't broadcast these huge commissions, all it takes it one person to take this to the RE commission....

 If they are advertising houses they do not own they are in violation of 475.43. I have turned in a lot of these scammers that believe they are entitled to broker real estate without a license. BTW--there is an agent in GA that has been promoting "virtual" wholesaling...they advertised property in Florida...I filed a complaint, and the state is going after them. They called me, crying, all freaked out, calling me a hater, etc...all because THEY violated state law. I have yet to see one of these scammer post on BP that they are under investigation, got a cease and desist, etc.