All Forum Posts by: Jarrod Wright

Hi All!, 

I am in the beginning stages of starting a virtual wholesaling business. By which I mean,  my goal is to find and close wholesaling deals consistently, with a large focus outside my local market, I currently have no solid idea how I will acheive 95% of what is needed to do that, but I am certain that similar to the x-files 'The Answer is Out There!!' 

Or more specifically, in the minds of lots of the awesome people here on BP, so I am reaching out in the hope that some of you trailblazers will lend me a few choice words, book titles specific to virtual wholesaling, links to articles here on BP (there are sooo MANY!!) that really pack a punch, and if you're really feeling generous your own top tips! Thanking you deeply in advance. 

Below I have included more about my own situation, if it interests you to understand my specifics, read through to the end to find out WIIFY ;)

I am looking at wholesaling as the strategy to begin my REI journey, because it will introduce me to all the skills to be successful outright in REI whilst allowing me to build my own capital for investing. Virtual wholesaling seems to be my best option, because I currently live in Berlin, Germany, and the language barrier(negotiations/legals) would put a very high degree of downwards resistance on my new business potential than is tolerable IMO, and of course if I can master virtual wholesaling, then I can finally run away and join the circus and STILL become a kazillionaire as well (operate a location independent business).

As a total newbie, I am attacking my planning in the following way. At the beginning of every work session, I set myself a list of objective to achieve in the session, which are tied to my over all business plan plan. Which is this simple list of topic headings, which each of course encompass a great deal individually.

1. How to choose a great operating area, and know when it's time to focus elsewhere

2. How to consistently attract highly motivated sellers and get them to contact me 

3. How to grade, select, negotiate and have sellers accept and sign my offers

5. How to attract and negotiate and close with serious cash buyers, with a focus on building long term repeat buyers

6. Contract specifics, location specific legalities, tax implications, incorporation procedures/requirements, technicalities and the weird fiddly stuff that will undoubtedly make itself known

7. What are my options to systematise/automate, how to plan to review and optimise operations, and how to strategically plan goals for my business

To me in my mind, as I pass by each of these main markers, I will naturally be forced to ask and answer at least enough of the questions that will allow me to get and close my FIRST DEAL!! I am not even off the starting block and I am chomping at the bit in anticipation already!! I have a strong sales background, and I love structuring and closing and just being IN deals. 

Currently I am still on Step 1. How to choose a great operating area and know when it's time to focus elsewhere. I am broadly considering either the US, Australia, the UK. I am a dual Australian/British national, and I have networks of friends and relatives in both London, and around Australia that I could draw on. I am considering the US simply because the largest degree of information readily available on this strategy has been written with the US in mind, which means it is a proven strategy within local US markets. I am currently searching for a step by step guide, or a book that outlines processes and methods of conducting fundamental and technical analysis of market areas to asses their potential. ie: what data, what grading criteria, and why??

To any currently active virtual wholesalers who have chuckled along remembering your own initial brave forays into the virtual wholesale jungle, I would happily love to discuss the potential to offer my time virtually to your business, in anyway that benefits you, in return for guidance and support. I have a great deal of data admin and CRM (cold and warm) tele-sales experience, please feel free to PM me to discuss! 

Thanks so much for reading, and especially so if you do take the time to reply and help me on my way. 

Cheers, 

Jarrod

@Svetlana Foley @Brett Goldsmith

Thanks to both of you for welcoming me into the BP community, I am greatly excited to be exploring the wealth of information that this community provides and shares. 

Thank you Brett for reaching out to me, I will certainly be in touch if I come across any deals in LA.

@Zahrah McFadgen

Cheers! We seem to have a very similar vision for our personal financial development over the coming years. Although from reading your profile I can see you have one very important talent that I am yet to develop. How to express myself both eloquently AND concisely.. see above for proof XD

I look forward to sharing our lessons and triumphs in the coming months, all the best! 

Hi!

I have been reading away and listening to the BP podcast for the last month, and now today is the day I finally step up and introduce myself. I got the kick up the jacksy that called me to action whilst listening to an BP podcast episode and hearing 'and if you're the type of person who just lurks in the forums.. GET INVOLVED!! because you're really missing out!!'. ( I not sure which episode, as I usually listen to several a day).

I began learning about investing and entreprenuership in early 2011 when I first read... that's right.. Rich Dad Poor Dad, which totally blew me away. At the time I was working as an industrial laborer, earning a high comparative income, but somehow still at a loss as to why I still always seemed to be broke at the end of every month. 

After reading Rich Dad Poor Dad, I kicked my financial education into gear, taking control of my personal cashflow management for the first time ever, and began to develop a much greater sense of financial purpose beyond 'pay rent / buy stuff'.

Towards the end of 2011 I started my first commercial business, a catering company that targeted week or weekend long music festivals in Australia. I was very fortunate in this that I was able to meet and partner with some friends who where doing this in Europe, and in partnership we successfully operated in Australia for 5 years, before I decided to go take a hiatus and go travelling. 

I have since found myself based in Berlin, Germany, and I am currently investigating my options for further study here, as I have not yet attended university, and if I do begin studying here it will be in Economics and Finance. 

I have a driving passion for increasing my financial acumen, which stems from growing up in a family that had very little financial awareness and whilst we were not dirt poor, I always had to go without rather than with. Whilst I have matured greatly since being a child, and I have developed a more detached and practical perspective on money now, I continue to nurture the burning yearning to have and create the visions and dreams that I want for my future, and not be stopped by a lack of capital or creativity. 'First you get the money, then you get the options, then you make your dreams come true', someone once said something similar to that right?

At the moment I currently work full-time as a bike courier here in Berlin, which affords me the added benefits of getting fitter and also listening to lots of podcasts and youtube videos on CREI and wholesaling. I am currently spending on average 1 to 3 hours a day reading about and planning the details of how to begin Virtually wholesaling property in the UK, and I have set myself the goals of having my first property deal completed before the end of April next year, and to be consistently completing two wholesale deals a month by the last 3 months of next year. These are goals that I feel are practical given my current inexperience/commitment. 

Thanks for taking the time to read my (surprisingly lengthy) introduction. I look forward to learning lots from you all as we share this exciting journey together, and definitely doing some deals with BP members very soon. 

I am a big believer in the idea that more players might mean more competition but it also means more opportunity.. and besides competition is what makes a good player strive to be great!!

Happy hunting!!

Jarrod Wright

Hi Christina, 

I was hoping you might have a moment to update us on your experience so far with this course? 

I am also personally considering, despite being uncertain of it's value for me being in Germany. 

I am also interested to know how you would gauge your own prior experience in RI? Personally I am just getting started, and I am wondering if I might be better off reading more before taking a course like this?