All Forum Posts by: James Burrell

Thank you for the advice guys! Persistence and focus are both going to be key to my success. If you were able to go from 80k in the hole to spending 1M a year on marketing alone (holy crap!) I definitely have no excuse.

Well BP here we go again.

Today I decided enough was enough and started taking action. I got on the phone and started making calls and sending emails trying to get started building my buyers list. Around this time a year ago I made the same decision, but I fizzled out pretty quickly. I'm determined to not let that happen again. The purpose of starting this thread is to hold myself accountable and to get support from the members here at Bigger Pockets because I know how much you guys love to help.

I've done hours and hours of research and listened to just about every podcast imaginable (Sean Terry, Todd Toback, Mark Whitten, etc. and the list goes on) the only thing left is to take action and sustain it this time. Unfortunately, at the moment I have no money to put into yellow letters and other marketing strategies so I'm going to have to get this going the hard way.

I know a lot of you are already successful so I was just wondering if you had any advice for me. I have nothing but time on my hands and I'm anxious to make my first deal!!

If it isn't too late to get in on this opportunity then I'm going to try to keep this short and sweet.

I'm a 21 year old college student trying to break the cycle of mediocrity and complacency that I feel has taken over our country. I want to do big things in my life and help others do the same and I feel like wholesaling and real estate is the perfect place for me to start. As soon as I found out about wholesale real estate it has taken over my life. I spend all but a few hours of the day on it; listening to podcasts, reading threads on BiggerPockets, finding articles, and "driving for dollars."

Since I probably won't win the lottery I need to go out and make things happen rather than sit back and wait for them to come to me. The problem is, I'm a broke college student and I don't get any financial support from home because my mother is going through financial issues of her own (another HUGE motivating factor itself). In order to close the most deals you need the most leads and in order to generate leads you need a marketing budget. Since I am also Student-Athlete I don't have time to pick up a part time job to pay for marketing, so there haven't been very many leads. If Michael Quarles were to choose me, I KNOW it would give me the jump start I need to get my short-term goals accomplished and get my life moving in the direction I have planned. I was already planning on using Yellow letter once I have the money for marketing, so why not begin a long and prosperous partnership sooner!

So there it is. Hopefully this was short enough, and I look forward to this whole process. Thank you for this great opportunity!

I'm still new to all of this so I might be missing something, but my line of thinking would be it's a lot harder to find sellers, and even harder to find sellers who can actually make people money, than it is to find buyers. If you find a good deal, isn't it relatively easy to find a buyer for the property? Like I said I could be missing something.

Also, I was wondering if there were any experienced wholesalers in or around Chicago that would be willing to help me get started and maybe teach me a thing or two. If so, let me know!

Should I work on getting houses under contract and then worry about finding a buyer when I'm first starting out? Or should I work on building my buyers list?

Ryan Webber, That's the problem I'm running into being brand new to this is not having any investors. When you first started how did you personally build your buyers list?

Ryan Webber, I most definitely would but what I'm thinking might happen is I'll find a buyer who, when they find out that I secured the contract for $30K they will try and lowball me. Does this happen? Obviously i would have the leverage since I have what the buyer wants, but if I only have one buyer interested that's going to be a pain.

Hello everybody I just have a couple questions that I hope you can help me with. I'm new to the idea of wholesaling and I haven't even attempted my first deal yet because I am still gathering information and trying to talk to people with experience before I go for it. I was just confused about a couple details of the process. First, let's say you get a property under contract for $30K and you have a buyer who is willing to pay $40K for it, why would the buyer pay you $40K when they know you got it for $30K? Also, does the end buyer always know how much you were able to get the property under contract for?