Wait. Isn’t wholesaling real estate supposed to be about hard work?
Not quite. It’s about smart work...
There used to be a saying in the corporate finance community that went something like, “If you’re still at your desk after 5 o’clock, you’re doing something wrong.” The natural reaction most folks have here is, “C’mon, that’s hard work... nose to the grindstone. Burn that midnight oil!” It’s conventional wisdom, but guess what — conventional wisdom can be wrong.
You can start closing deals with ambition and sweat equity alone. But once you have a handful under your belt, you shouldn't have to break your back all the time. Working smart is as important as working hard when it comes to wholesaling. It took me too long to learn that, but it’s why my business is now built on systems that make closing deals second nature.
So how do you maximize your time while still snatching up deals? Here’s a...
You think you know, but you have no idea...
Here's the scary truth when it comes to wholesaling: A signed contract doesn't mean the deal's done.
You should be stoked after getting the seller’s signature, but you’ll blow the deal if you leave the appointment without the necessities below.
Here’s the forgotten to-do’s you must complete to ensure that signature transforms into a payday…
Without the documents below, you can’t transfer ownership of the property to cash buyers. Meaning, all you have is a worthless signature.
Purchase Agreement & Addendums: Everyone knows about this one. It guarantees you can legally build a contract and assign the property to the cash buyer. Consider it proof that the seller is committed to your deal in the making. Without it signed and sealed, you legally cannot pass the baton to buyers.
Authorization to Release Information: Only needed if the seller has a mortgage, I...
Hold the phone...
You’re wasting your own time and money on leads that will never pan out if you hop on a call — or head to an appointment — with a seller and don’t say the magic words to find their motivation.
Stabbing in the dark without a proven plan to uncover their unique motivation is a fatal flaw that robs rookie (and seasoned) wholesalers of deals all the time.
Whether real estate is your side hustle or a permanent escape from your day job, you'll never close enough deals to turn a consistent profit without the skills to recognize (and capitalize) on seller motivation.
With the advice below, one simple phone call can tell you everything you need to know about a seller, so you don’t waste another second chasing a bad lead.
Let’s dive in...
Don’t dive in with a bunch of questions. Instead, kick off the call by letting them lead the conversation.
After all, no one likes a salesperson. Studies show that...
Pick your poison…
Zillow, Redfin, Trulia, you name it.
They all spit out on-the-spot property values.
But what happens when a property isn’t listed yet — or at all? How about when the almighty algorithm gets it wrong? Do the numbers account for wear and tear, hidden damage, and secret seller motivation?
Short answer: No.
And let’s not forget: Every great deal starts with a deeply discounted property.
The apps and the MLS aren’t looking under the hood to alert you that a property is overpriced (or begging to be had at a discount). Nor are they interviewing the owner and scouring every nook and cranny of the home for distress signals.
Relying on computer-generated property values will never get you a discount. No discount, no deal.
But calculating a property’s value on your own is actually a piece of cake.
Here’s how it works so you can lay the groundwork for wins in the world of real estate.
It doesn’t take any previous experience or expertise to close deals in real estate...
But there’s one thing it always requires: Time.
And time is one of the few factors that’s almost entirely out of your control.
Deals don’t grow on trees (though, if you know what to look for it can feel like they do).
And as a total newbie, even deals that close at hyper-speed can feel like they take forever.
Here’s what to expect as you work toward your first deal...
I had a student close his first deal just 7 days in. He literally made 7 grand in 7 days.
But that’s not the norm... and I’d be lying if I pushed it as such.
Truth be told: Even 30 days is a bit ambitious.
That said, I managed to close my first-ever deal on day 39 without any previous...
To make a profit wholesaling, you need to find and corral deeply discounted properties.
Sounds like a sham, right? Why would someone sell their home at a discount?
It’s not because they're crazy.
It’s because there’s 2 valuable things you can offer them:
If they need both — and you can deliver — you have the perfect 1-2 punch to capture a unicorn; a property selling for dirt cheap that you can make a killing on.
Allow me to explain…
As a real estate investor, you’re in a service-based business. But you don’t command a salary, charge hourly, nor invoice monthly.
You offer owners speed and convenience, that in the right situation, give you complete control of the deal.
And ultimately, allow you to get their home for dirt cheap.
Let’s start with the first, speed:
The traditional home selling process takes at least 45 days — and that’s if every little thing that can...
I won’t sugarcoat it... you need money to get into real estate.
Don’t let anybody tell you different.
But there’s a massive, money-saving caveat most newbies miss: You can get in the game for very little.
The truth is start-up costs vary depending on your strategy.
The right strategy is the difference between needing a stockpile of cash you can pull from on-demand or a dirt cheap investment that costs less than your daily cup of Joe.
Keep scrolling to discover the strategy anybody can use to start closing deals for cheap...
Before we dive deeper, a personal story (so you know I’m not blowing smoke):
I closed my first deal while I was literally living paycheck to paycheck as an insurance agent (side-note: my wife and I were dodging double dates at the time because we could barely cover TV dinners on clearance).
I made $24K on that first deal — without any previous...
I catch unicorns all the time — and you can too.
In my world, they’re off-market, deeply discounted properties selling for pennies on the dollar.
And once I’ve snatched ‘em up, I pass them to cash buyers and take my cut (an average of $20K per exchange).
I’ve been uncovering these unicorns in real estate since 2015 - without any prior credibility, credentials, or experience.
And I’ve been in your shoes before: Confused about what to do and where to find them
Here’s the best part: You can be a total newbie and start closing deals at hyper-speed by finding discounted properties using my simple, 3-step methodology.
With this little “talent” that anyone can quickly pick up, you can grow a real estate revenue stream as big as you want without ever owning a home, stockpiling cash, or getting a license.
In fact, it’s hard to imagine anyone not having near-instant success following this simple system.
One of my secret strategies to real estate success is constructing a “Cash Buyers List.”
Consider it your real estate rolodex of hungry buyers who will snatch up your deals like wild banshees (getting you paid big bucks in the process).
I personally used my Cash Buyers List to close my first deal ever (I literally knew nothing about real estate at the time… and earned $24K on the deal), and have since grown that list from 100 contacts to 6,000+ en route to 7-figures a year in deals.
Here’s what other real estate experts won’t tell you (because they don’t want to share the wealth):
You don’t need a license, a stockpile of cash, and years of experience to close deals...
...all you need is the skill to hunt down deeply discounted properties and a quality Cash Buyers List.
With a Cash Buyers List you can:
Unlike wholesaling (quick profits) or buy-and-holds (ongoing profits), fix and flips have an elevator pitch that falls somewhere in the middle:
Make more money than wholesaling ... quicker than buy-and-holds.
You’re no longer just the deal finder cashing in without risking your own coin...
...and you’re not assembling a personal portfolio of properties either.
Instead, you’re in, out, and on with your life — hopefully with a fat stack of cash from a job well done.
While TV glorifies “flipping” as a seemingly effortless (and equally thrilling) sport anyone can compete in, it’s actually a high-risk, high-reward opportunity brimming with uncertainty.
As a former general contractor and a current real estate educator and investor, I’m uniquely qualified to reveal the good, the bad, and the ugly of flipping homes.
Let’s dive in...
In its absolute simplest form, it’s a 3-step...