All Forum Posts by: Joe Gonzalez

Hey Cassidy,

Congrats on taking control of your future!

I have a wholesaling operation here in Houston, I do deals all over Texas (San Antonio, Dallas, Corpus, etc.)

Let me know if you need anything.

What's gong on Kaden,

Congrats on taking control of your future. I've been wholesaling since 2017 and it's been an incredible journey.

Here are some tips for you:

• Wholesaling is a sales & marketing field - become a student to both subjects
• You will have to start from the bottom, use low cost marketing channels to create opportunity, spending tons in marketing comes later in the process.
• Homeowners are usually in tough situations, focus on becoming of value rather than focusing on how much you can earn
• Master how to run comparables & how to come up with a fair offer
• Work on strengthening your mindset daily (no matter how strong you believe it already is). Two books I suggest are 'The Compound Effect' and 'Secrets of a Millionaire Mind'
• Avoid shiny objects - Ignore every other strategy for now and focus on becoming a wholesaler, once you master wholesaling you will be able to practice other strategies such as: keeping assets/fixing and flipping etc. The transition will be a lot easier since you will have a clear understanding of the most valuable aspect of a real estate transaction - the ability to find off market opportunities.

Best of luck. 

Whats going on Michael,

I am in the Houston market and I do virtual deals all over Texas. The key is to get the deal over the phone and then have the seller take the photos of the property, your trusted buyers can then walk the property for you. Your buyers essentially become your boots on the ground and either submit an offer or give you honest feedback. This model is extremely efficient when doing deals in different markets. 

Hope this helps. 

What's going on Anthony,

This is quite the thread with many different responses. I'm a full time wholesaler and here are my 2 cents.

I am currently spending about $20,000 a month in marketing - spending this amount of money positions me to run a more predictable business (although nothing is guaranteed in any business.) 

Would I say that one needs this kind of budget in order to do their first deal? Absolutely not.

I didn't start off with these kinds of funds in the beginning, I am a first generation American with no college degree.

My first deal came from a a hand written letter, I had no marketing budget.
However it took me months of preparation and constant rejection, this business is FAR from easy. 

Although I didn't have the funds this is what I did have:

Ambition, time, a growth mentality, sales background, focus, aptitude for business, no other option but to succeed.

What I sacrificed:

Eliminated all distracting relationships, cut out music for a year and listened to podcasts, 12 working hour days, 1-2 books on real estate a month, reinvested profits into real estate seminars.

As far as your question regarding "what seller would sell at a discount?"- just remember that when you do wholesaling correctly you are a listener more than anything.

Lowballing is not the name of the game, it's all about listening.

If you ask the right questions a homeowner will tell you how much they NEED in order to ink a deal. 

No matter how much it confuses people, the reality is that there will ALWAYS be a market for convince. Every day thousands of cars are sold to car dealerships at a discount, is it because car owners didn't know they could sell it for more on Craigslist? It would be foolish to believe so, its all convenience.

Disregard all negative thoughts/ outside opinions  - focus on growing in this business and most importantly just know it's possible.

Best of luck.

Hey Kaylan,

Stick to the neighborhoods where your middle class Americans live (teachers, mechanics, mailmen, etc) These are the best areas to drive for dollars since most of your end-buyers prefer to flip these homes.

Also, look into pulling the Code Violations list from your county - they are essentially driving for dollars for you.

Best of luck 

Whats going on Logan, 

When I first started I only had $1,500 dollars to my name but a lot of ambition.

I chose cold calling since it is very inexpensive (all you need to invest in is a dialer, a list, and skip tracing.) I also hand wrote 100 letters and sent them out (driving for dollars list.)

They key when starting out is to create as much opportunity as possible - both methods work and if done correctly both will just take your time and not too much start up capital. 

Hope this helps. 

Whats going on Vincent, 

Here are some tips for you: 

• Become OBSESSED with learning everything you can about wholesaling
• Ignore shiny objects like forex, amazon stores, etc. FOCUS
• Read books on mindset - Start with 'The Compound Effect'
• Eliminate friendships that normalize mediocrity 
• Become a student of sales and negotiations

I myself applied all these principles when I started, the result? I have done over 1 Million in assignment fees.

Best of luck 

Whats going on Osman,

Your monthly marketing budget is the deciding factor here.

If you have a minimal marketing budget then you are in what I like to call the HUSTLE stage.This will include you substituting what you don't have in capital with hustle and hunger.

You do this by:

Cold calling, Driving for Dollars, Self made bandit signs, Hand written letters, etc.

The key is to take action and give this business ALL you've got.

Best of luck!

Whats going on Adriel,

If your contract is assignable then you simply just need to have an assignment agreement with a new buyer.

You do not have to have a seller sign off on this since the assignment language is already included in the original contract - the seller would just see a new buyers name on the closing documents. I've never had a seller complain about this and I've done 100+ wholesale deals in the past 2-3 years.

Hope this helps.

Whats going on Derek?

I had all of the same emotions you have when I first got started. One thing to realize is that it is very easy to get caught up in information overload. The best experience and the best use of your time is to begin speaking with property owners.

Will you fall flat on your face at times? Absolutely, but that is growth.

First deal I ever did was 3 years ago for $24,000. It changed my life.

I hope to hear about your success story.

Best of luck!