Wholesale Day 5&6

What a couple of days, these past days reminded me of what many of the specialist (gurus) say regarding the barrier to entry in wholesaling is minimal. I beg to differ, its simple to say what they would do if they were dropped in a completely new city and need 5K in 30 days. I am aware that many people bought the specialist materials, but I was skeptical from the beginning. We all must be reminded that life's passions are not easily obtainable. Goals and dream are earned, and not given. The reason I mention this is because I had a discussion with my wife while driving her to work and we were discussing the 2200 check and she said that you spent more than that to get started. I kindly disagreed (honestly it was not nearly that much), but it made me think about what I have invested to get started. Some of the cost were associated with the following: formalizing the LLC, development of a professional appealing website, office supplies, postage, purchasing list, education, fuel, time spent (opportunity cost), much more that's not mentioned. It is great to have spent the time and the money because a strong foundation is key to building any business.

So the past 2 days have been extremely busy, my to do list is getting smaller but I make sure I always add more assignments for myself to continue momentum. I spoke with a new realtor he is very aggressive a great communicator, and accessible. The reason I highlight these qualities because many realtors will loose interest when you do not try and prove anything to them. I used a technique that I heard on a podcast I listened to lately about framing the conversations. I told the realtor I'm sure that he is very knowledgeable about the market and I would love to utilize his experience. Immediately this boosted his ego and I was able to leverage a lot of information from him that otherwise would not be liberally shared. While speaking with him (obviously while looking at properties), I believe we will be working together, hopefully we can close a lot of deals.

I am currently working on a seller finance deal and trying to navigate my way through everything while working with the seller. The most helpful component is being able to discuss each deal with those more seasoned than I am, basically a mentor. This current deal, the seller is willing to do seller financing, the property is a condo, that has a tenant that recently renewed a lease, the area is good, the condo does have a lien on it for 140k, the property is worth 68-75k. So I am eager to see how we can swing this deal if possible.

Finally, I am still working on a luxury listed property, you may have seen my other post regarding the property. I reached the seller through my 3 mailing. She called me and left a message with her realtors number. When I called back I spoke to the realtor and went to see the property. The seller is very motivated and is looking for a solid offer, the property was listed for 750k with no offers and only 3 showings (including myself) after 60 DOM, now the property is $710, the sellers agent stated her client is will to do 650K (wow that's disclosure), so we are coming in at 510k hoping to close at 550k, keep you posted on the deal.