On today’s episode of the BiggerPockets Podcast, we sit down and chat with a real estate investor who wasn’t seeing a lot of action in his business – until a friend challenged him to take his investing seriously and start treating it like a business.
Our guest today, Tim Gordon, accepted the challenge, changed his approach, and his business took off! Several short years later, Tim Gordon runs a successful investment business that focuses primarily on finding and wholesaling incredible deals in a competitive market, making tens of thousands of dollars every month in his business while still working a day job. Tim shares with us the lessons he learned to overcome inaction and the steps needed to consistently fill his pipeline with deals worth tens of thousands of dollars.
Whether you are a new investor struggling to get your first deal, or you’ve been investing for years and need a motivational kick to take your business to new levels, this is the show for you.
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In This Show, We Cover:
- How Tim used BiggerPockets to get started
- Why it took Tim a full year to get his first deal
- Should new investors start with wholesaling?
- The major skill you need to succeed at wholesaling
- How Tim uses direct mail to find leads
- Reverse engineering to find success in wholesaling
- Tips for negotiating with motivated sellers
- The exact messaging on Tim’s direct mail postcards
- How Tim finds the “Big Dog“ cash buyers
- How many cash buyers do you need?
- The best deal Tim has ever done – $48,000 over a round of beers
- The catalyst that helped Tim take his business more seriously
- Working with assistants and others in your wholesaling business
- Why Tim makes $60 every time someone calls him
- And a lot more!
Links from the Show:
Books Mentioned in the Show
- Good to Great by Jim Collins
- Think and Grow Rich by Napoleon Hill
- Rich Dad Poor Dad by Robert Kiyosaki
- Lifeonaire by Steve Cook and Shaun McCloskey
“The idea of running a business through an excel sheet – if there is a Hell, that’s it.” (Tweet This!)
“Until I can go away for 2 weeks, and have the business still making money, it’s still a job.” (Tweet This!)
“Wholesalers are not your competitors, they are your allies.” (Tweet This!)
“My favorite word in all of real estate is ‘vacant.’” (Tweet This!)