All Forum Posts by: MICHAEL YBARRA

Welcome @Alisa W. 

Good luck on your first wholesale deal. 

So I'm very new to wholesaling. I literally just found out about it a week and a half ago.

But I'm starting to get discouraged by alot of the negative nancys that don't have anything good to say about it like this one.

I was watching a video on YouTube about wholesaling when somebody replied to me about a question I had.

+Britney Miller

"Oh, and don't quit your job. The faster you get investment money; the faster you'll have your money working for you. A job is the best way to get guaranteed money asap.

The people who do nothing but real estate worked for the first 10 years or so while getting in to it. No doubt. In order to make as much as $35k a year with wholesaling houses you'd have to w-sale a TON of houses annually.

We're talking 12 plus. It takes 2-7months average to whole sale one, and you aren't going to have enough capital when you first start out to be able to wait to close on your deals.

Diversify your real estate as you would any other investment. Rentals, flips, wholesales, and rent to owns. We don't tell the market what we need it to do; the market tells us."

Is there any truth to what this person is saying? Personally from what I've seen most deals close in about 7 days. I'm not sure where he gets 2 to 7 months from. And alot of wholesalers that I've been following are making much much more than $35,000 a year.

Thanks

Britney

Hi and thank you for the kind welcome!

Eva -  to answer your question, my overall goal is to own a mobile home community.  As my funds to start are limited, buying and selling mobile homes seemed a good place to start.

I see you are from Redwood City.  I miss the Bay Area and plan to move back one day.  :)

Paul - Thank you for the post.  I'll be checking those forums right now!

Regards!

Hi all, 

I am 19 years old, and a senior in high school currently residing with my parents near Augusta, Maine. I will be attending college in Mass. next year. I am taking college courses now and knocking out my freshmen year- as I want to get my MBA in my fourth year of school. I am majoring in Accounting. One of my interest has always been real-estate, and so I am here to learn from the best.  I am wondering if you all think real-estate is more of a full time job, or something I can do on the side as an investment opportunity. I am also investing in stocks/mutual funds ect. Obviously as a college student I have limited funds and time capabilities , but I figure if learn how it works now when the funds are available I will be able to take action. My main goal being; to have a financially sound and prosperous future.Thank you all in advance for your support and expertise, I look forward to your input on the best course of action to take. 

It is official today. I closed on my very first deal as a buyer's agent in a regular Market transaction. I have been so blessed to have joint ventured around 12 deals now, but I listed a house that had been on the market since last year. I listed it, put it out on all the sites, and God just put a great couple into my path who needed an agent. No I did not get to make money on both sides of the transaction but I did pretty well. Just sayin! For me it is not all about money. For me, and it should be for anyone reading this. We need to go into every transaction as if our very existence depends on it-because it does! I just got a call out of the blue where a client wanted to buy the home that I was listing. Not only did I have the honor of representing a great couple buying a great home, but I was able to help my managing broker sell a house! It keeps getting better! Don't stop reading yet!

As I was listing the home and doing my Open Houses I started to get people's contact information and I just asserted myself (something I am not comfortable doing) and started to try to help other's achieve their goals of buying a home. Not just any home mind you, this home is in a Historical District and is a very high-end flip for my area. (Around $300,000+ where $120,000 is the average price of homes in Indy) I was able to form a relationship with a potential buyer who wanted to make an offer on my listing after I had just sent in my offer with the clients I originally started talking to. So, now I have 2 clients where I just started off as helping my broker sell a home. It was not an FHA and technically I was not the listing agent as the original listing was my broker's but he just needed help with it. Now, I put in the offer on the house I am helping to list and the second client wants to buy a home, and wouldn't you know it? They have a house to sell! Boooooom! Oh yeah!

So now I just sold my listing and now have clients that just had me list their home so we can find them a dream house to buy.  I mean luck truly favors those who take ACTION! I was scared to death and probably out of my league and could have just gave both clients to another more experienced agent, but we have to start somewhere right! Who knows where the road will take us so we just have to take action and follow through to get results. Bottom line, I now know that I have served and will continue to serve my clients as if my life depends on it, because my life and my families live's depend on me being successful. When we push ourselves to do what is uncomfortable and what is hard-we can do amazing things! 

The next time you think about taking a break from a client or the next time you think that you will just take on 1 client instead of 2. Just know there is someone out there named Stephen Barton who is doing everything ethically, morally, and legally to take over for you when you do not fully commit yourself to achieving results.  I will be pushing myself to work even harder everyday I am blessed to be alive. We have a gift in the ability to live life and yet, we just do enough or we just get by. Or we just send out 150 absentee owner letters when we should have sent 400! Or we just let our phone calls go to voicemail. Man! I cannot tell you how many times I hear from sellers, "Wow we are surprised you answered your phone". They go on to tell me that they get the same old used up yellow letters and no one ever answers the phone. Why? Because it is work and very few of us are willing to be in the trenches where the real action is. So, to those who just think you can spend thousands of dollars on marketing and let your phone calls from potential sellers go to voicemail...You guys are my best friend! Keep doing that because I am going to answer my phone every single chance I get. I am going to really get to know these "investors" and find out if they do not want to sell then maybe they want to buy! It works, just try it!

When I was just getting started I was so scared to talk to sellers on the phone! I literally would start shaking when the phone ran! Not now! Now, I get a little rush from hearing that phone ring and my instincts kick in and I am ready to control that conversation. I was never someone who could even sell an ice cube to a thirsty person in the desert. Today, I am facing my fear as I am realizing that when I break through fear there is a great victory straight ahead! Come real estate investors! It is time to march to the beat of a different drum. Push yourself like you have never pushed yourself before. Watch what happens when you do. We can all do great things, and I am tired of wasting my life with just getting by. To all those who were looked down upon, mocked, made fun of, and simply just passed over like you did not exist. It is time to get to the next level. Who's with me!!!

 Agreed.  Our screening process will be by the book - backround , credit check and references.  If possible a drive by their current residence might be in order as well.