First wholesale deal in 3 weeks at 18

First wholesale deal in 3 weeks at 18

Developer · Fayetteville · Member since 2016 · 91 posts · 57 votes

Hello, I just closed on a property last week and have another one under contract that I will be closing on in august. I wanted to share some key points in what I did to be able to go to closing in hopes that it will help some of you who might be struggling. 

1) Make sure before you even start looking for deals that you have these key things in place

  • a) Title company that can perform double closings or assignment of contact. (have one more as a backup if need be and make sure you ask them how much your closing fees will be so you can incorporate that in your wholesale fee) 
  • b) List of cash buyers (15 minimum) with a bio for each buyer. Your bio should include what kind of properties they like, what areas they work out of the most, how far away they are willing to go, how much work they are comfortable with doing and obviously there name and contact info. 
  • c) 2 contracts, "Sales and Purchase Agreement"(this one is between you and the seller) and "Assignment of Contract" (this one is between you and your cash buyer) 
  • I have contracts if anyone needs them! 

2) After you have everything listed above you can now begin to start marketing. It is totally up to you how you market your service. Here are just a few things that I have used for marketing. 

  • Bandit signs (your city may be strict and take them down, put them up when city workers are not working and put them in front of a Church,Walmart or any other high traffic area because you will want full exposure) 
  • Craigslist ads (Be very consistent with these, 1-2 a week) 
  • Business cards (Very very beneficial if you give these to waiters or waitresses or people you know and give them a nice referral fee. They will work harder to find property owners for you because they will want that easy $500 to $1,000 fee) 
  • Flyers (Make these things bright and simple, you want to get your point across with as little writing as possible, very effective in church bulletins and message boards in establishments) 

Now obviously I covered the basics of what I did so if you want a little bit more in depth knowledge feel free to inbox me on BP. I hope this helped some of you guys who were struggling to get started or have been at it a while with no traction. Good luck! 

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Real Estate Agent · Camarillo, CA · Member since 2016 · 8 posts · 1 vote
10y
Brian Wheeler Congratulations on the close man! I am also 18 and currently marketing for motivated sellers! This was very motivating knowing someone my age has successfully done this! How did the whole process go if you are willing to share.
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  • Irving, TX · Member since 2016 · 140 posts · 19 votes
    10y

    Congrats on the deals, i been trying to wrap my head around all of this for months and have not found what i need to move on. Im missing pieces and wont go out there till i find those pieces, i would like to see those contracts and see what they look like and get an idea what i use for buyers and sellers and get an idea of it all.

  • Wheat Ridge, CO · Member since 2016 · 12 posts · 4 votes
    10y
    Brian Wheeler 18!!! Congrats man!!! That is huge haha I'm in Denver Colorado and would love to network with you. I also focus on wholesale. Let me know champ! What title company do you recommend out here?
  • Real Estate Agent · Falls Church · Member since 2012 · 2k+ posts · 1k+ votes
    10y

    @Brian Wheeler congratulations on your deals. You have accomplished what a majority of people are to scared, or lazy to do. Keep the momentum going :)

  • Winnipeg, Manitoba · Member since 2015 · 39 posts · 12 votes
    10y
    I'd like to be able to take a look at your contracts if you don't mind
  • Lender · Lincoln, CA · Member since 2014 · 45 posts · 17 votes
    10y

    Nice work Brian, way to take action! Would love to see your contracts 

  • Wholesaler · Brookfield, WI · Member since 2014 · 76 posts · 28 votes
    10y

    @Brian Wheeler anytime! inbox me & we will co-ordinate a time. 

  • Specialist · Honolulu, HI · Member since 2014 · 1k+ posts · 1k+ votes
    10y

    Its really awesome that you youngins (can't believe I am saying this!) are hustling and pushing yourselves. However, there is also something to be said about being naïve, traveling the world, falling in love, and exploring at that age. In my opinion, that is the best time to do the most worthwhile and eye opening things in life, instead of putting out bandit signs and 30 minute phone calls with sellers :p Don't lose sight of the things you will remember when you are older.

  • Deltona, FL · Member since 2016 · 7 posts · 0 votes
    10y

    Hi Brian,

    Congrats on your deals. I would love to have a look at your contracts. How did you find your title companies and what made you choose the one who helped you close.please contact me when you can.

    Thanks,

    Angela J

  • John CasmonPro Member
    Cincinnati, OH · Member since 2013 · 1k+ posts · 1k+ votes
    10y

    @Brian Wheeler Congrats on getting these deals going at such a young age. Keep blazing a path and sharing your success (and struggles) along the way. Much success to you!

  • Real Estate Investor · Oklahoma City, OK · Member since 2016 · 19 posts · 5 votes
    10y

    @ Brian Wheeler congrats on your deal. Hope you have alot more success!!! If you still have those contracts I could use one. Thanx 

  • Developer · Fayetteville · Member since 2016 · 91 posts · 57 votes
    10y

    @Andrey Y I agree with you but you need the money to be able to travel:) 

  • Real Estate Agent · Austell, GA · Member since 2014 · 232 posts · 74 votes
    10y

    Nice tips! And the best part is that you probably learned all of those a decade before most of us do. Lol Keep it up man!

  • Milwaukee, WI · Member since 2015 · 37 posts · 8 votes
    10y

    great advice! If you are ever free let me know, would like to meet up and network 

  • Deltona, FL · Member since 2016 · 7 posts · 0 votes
    10y
    Hello, I would like to see your contracts and see if they differ from mine and if I should alter what I have. Thanks for your help, Angela Johnson
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