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Updated 4 months ago,
In my career as a Home Buyer, I went through three key stages...
**Stage 1 - Beginner Wholesaler**
From 2017 to 2018, I was just getting used to the ropes. Although I had a background in sales, speaking with distressed sellers was a completely different experience—one that requires a lot of patience and empathy. Through coaching with Tom Krol, I learned how to get a deal under contract and sell to a cash buyer. I kept repeating the process and slowly but surely started seeing some traction. By the end of my first year, I'd completed 10 deals and earned $73k.
In 2018, I stumbled upon Todd Toback and his acquisition skills models. That was a pivotal moment in my journey, allowing me to achieve better conversions at my appointments and helping me reach 24 deals and over $250k in my second year. By the end of my third year, I had a legitimate business and a team. I was able to quit my 9-to-5 job and focus on this full-time. I was all in!
**Stage 2 - Advanced Wholesaler**
In early 2019, I learned a hard lesson that made me pivot the business. I realized that I was slowly turning into a "Cash Buyer Employee," relying on a few cash buyers to take my deals—mostly due to speed and the certainty of them closing. Unfortunately, this often came at a big discount. As a result, my profit decreased as buyers began negotiating for lower assignment fees, using the leverage they had developed. I became the motivated seller, selling my contracts at a discount. I knew I had to make a change.
In early 2019, I transitioned to leveraging the MLS instead of only relying on the cash buyers list. This allowed us to get many eyes on the property, which was a game-changer. My assignment fees nearly doubled overnight, going from $20k per deal to $35k on average.
Shortly after that, in April 2019, I learned about private lending through Chris Naugle’s Private Lending Masterclass and started implementing it. We did our first flip in 2018, but we completed several more in 2019, and the pace really picked up. We hired our first acquisition sales rep, Eddie, in July 2019.
Going into 2020, we expanded into new markets, including Western New York, Wichita, KS, and Las Vegas. While Kansas and Las Vegas had mixed success, Western New York experienced great success.
From 2020 to 2022, we continued leveraging the MLS, added private lending, and expanded our exit strategies to include wholetails, novations, and double closes, along with flips and BRRRs. These strategies faced little competition and made us stronger in acquisitions, allowing us to commit to sellers and contracts with more certainty than ever before.
**Stage 3 - Off-Market Acquisition Specialist**
The new business model really exploded our sales, and we continued growing into 2023 and beyond. We went from making an average of $7.3k per deal in 2017 to $35k per deal in 2019, sometimes hitting home runs of $70k, $80k, and $90k in profits—more often than we could have imagined.
We also started building a team, hiring Acquisition Managers to meet with distressed seller leads. We expanded to new markets, bringing on Dan Toback to lead a new division in Florida.
At the beginning of 2023, we ended our successful journey in Western New York, replaced it with Florida, and despite the challenging times with record-high interest rates, we were still able to complete 78 deals between our Florida and NH markets.
2024 continues to bring its own challenges, forcing us to grow and improve. As we wrap up our eighth year in this business and have seen many people come and go during that time, I can’t help but feel thankful for the success we have achieved and the fact that we are still here, with a rock star team working to get better every day.
We plan to finish 2024 strong and head into 2025 (our ninth year) with hopes of achieving even bigger and better success.
Consistency and perseverance are key to success in this business. Don’t quit—keep pushing.