All Forum Posts by: Tony K.

It's good to see responses from a diverse group of veteran and new wholesalers that started doing deals this year like myself.

@Senay BarakiThat's great for 5 months of wholesale!

@Christina R. Good to hear from members w/ full time jobs and REI part-time. 3 deals since February is terrific! I have to get on the DM and churning them out consistently as well, while managing the calls.

@Cass R. Smith You sound like you are on the right track, setting goals and networking with successful wholesalers is the way to go. Good luck on those two deals!

After reviewing the responses, I attribute my wholesale numbers this year being 'low' on several factors.1) My market has low inventory and high prices for homes, 2) wholesale homes quite scarce to find and competition is high. 3) Cash flow in my area doesn't get close to meeting "the 1% rule" in most cases and turn-key business doesn't seem very successful for SFR.

Awesome, well done.

@Curt Davis  Those are great numbers! Grats on the sales this year.  Is that number representative of properties local, or national/global as well? I'm not too familiar with turnkey investments but will plan to learn more. 

@Engelo Rumora NB at all for starting in April! Grats on the sales so far.  I imagine these were local deals? What % turnkey/wholesale?

Wow, so I was expecting responses like 8-25 deals for most wholesalers,. It seems turnkey accounts for a large volume of some investor's businesses. ?

How did everyone do this year? Did you reach your goal? More or less than last year? Let's hear some stories about how many deals you did this year in wholesaling. Perhaps this will provide motivation for other wholesalers and maybe successful wholesalers can shed light onto how they acquire their deals. You don't have to share how much you made, just how many deals. 

I'll go first and say I did 4 deals this year. I met my goal of (3) houses this year and reset my goal to 10 houses. Compared to my 0 sales previous year, I did better wholesaling in 2014. BP was very helpful with education. 

@Aaron Mazzrillo Yeah,I agree that most of wholesaling negotiation should be done on the phone, fielding motivated sellers rather than waste time meeting with unmotivated sellers.

When I said improve my appointment setting with motivated sellers, I meant taking more action for the motivated (call leads back faster, schedule appointments closer to present).. I missed out on a deal with a motivated seller by setting an appointment a week out. Unfortunately, the next day, she met with another investor the next day and put it under contract.

Aaron, do you do lease options negotiations over the phone as well? I'd like to add lease options to my sales arsenal but heard that is better to negotiate those deals in person, to show cash options and seller finance options.

Hey @Jared Butterfield Welcome to BP.

What part of real estate investing are you looking to learn more about?

I am a local wholesaler coach/mentor in Seattle, Wa and I may be of assistance if you have interest in a mentorship within wholesale. It's a great place to start to find fix and flip deals.

Good luck,

Tony

Hey @Dan Chapman ,

Welcome to BP. Lots of great resources and networking opportunities here.

I'm a wholesaler in Seattle, wa and find fix-and-flip properties deals. We should connect and chat.

Tony

I think it's important to keep track of ratios at the beginning of a wholesaling business, as it sets expectations and helps with finance planning as mentioned before.

While markets will likely differ, my experience so far:

1,000 contacts results in about 5-10 appointments.

5-10 appointments = 1 contract.

3/4 contracts close.

These numbers tell me I need to 1) improve my appointment setting with motivated sellers or 2) increase the number of contacts to generate more appointments 3) diversify my business w/ more options ie. lease options

@Mitch Robins Welcome to BP. There is certainly a lot of great information and members are very helpful here.

I am a wholesaler in N Seattle and I work on sourcing deals to investors. I found it very helpful to find a local mentor/guide that's had success before and learned what would work/what doesn't work in our local markets.

I am happy to chat with you about mentorship if you have interest on the wholesaling side.

I recommend checking out the podcasts too. They're pretty motivational.

Tony

Hey @Leonid Stakhov and welcome to BP. I am a local wholesaler in King County. We should connect

@Vlad Kuzin Hey Vlad; I'm also interested in an accountant with familiarity with real estate investing in the Seattle area.. Can I have that referral as well?