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Updated over 11 years ago,

User Stats

21
Posts
16
Votes
Michael Giamanco
  • Wholesaler
  • El Cajon, CA
16
Votes |
21
Posts

First Wholesale Deal

Michael Giamanco
  • Wholesaler
  • El Cajon, CA
Posted

So after 3 years of studying "how to be an investor" I finally got my first wholesale deal out of the way!! Man, it was a tricky one too and it paid off very well. I made $10K on this deal. It did not cost me a dime since the lead was generated from my Facebook page. It was pretty cool.

I realized three years ago that just throwing out some signs was not going to drop motivated sellers in my lap. Also, three years ago I would not have even known what to do with them. I knew coming in that it couldn't be as easy as the gurus make it seem to just become a rockstar wholesaler doing a deal or two a month. I stayed true to my desire though and finally got my first one out of the way.

Now I have a little capital for marketing, and definitely some motivation for doing more deals. I also have one of the most qualified cash buyers in town on my team. They have taught me a lot on this deal on just how the particulars of a deal go down, estimating (or better estimating) renovation costs, and market value. I also learned a lot about how title searches, liens, loans, and escrow work. It was a very creative deal which I am grateful we were able to make happen.

I am exciting to get my next one. throwing up more signs this weekend.

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