Wholesaling

Real Estate Deal Analysis & Advice
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Wholesaling

Shawn AckermanPro Member
Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
After pounding the payment,negotiating with owners and being told "NO, Not interested"100 times, On the 101st time we got a motivated seller. My company IKEPTIT REAL ESTATE, LLC closed our first wholesale deal 9/14/16!!! The assignment fee was only $6k but felt like 100k after all of our hard work! Just goes to show that as ling as you believe in you, nothing will stop you. KEEP PUSHING!!!!馃挵馃挵馃挵馃挵
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Kirk Zacharda
La Mesa, CA 路 Member since 2013 路 116 posts 路 26 votes
10y

@Shawn Ackerman way to stick with it . If you follow any of the real pro's that are not the Guru's but the givers the #1 advise they give is to never give up. Execute your plan daily and the activity as long as its the right activity will pay off. Dont forget to circle back to what is working for you and dont be afraid to pivot if needed. Way to go. Fyi my first Wholesale deal was 3k in southern cal. 

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  • Melody Everett-NeddoPro Member
    Quality Technician in a CNC Machine Shop 路 Rapid City, MI 路 Member since 2015 路 159 posts 路 35 votes
    10y

    Congrats!!

    0Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @Melody Everett-Neddo Thank you! It felt like a long road. It took 6 months but I'm glad the first one Is in the books.  New Yorkers are tough crowd馃槀馃槀

    0Reply
  • John Thedford
    Real Estate Broker 路 Naples, FL 路 Member since 2013 路 9k+ posts 路 6k+ votes
    10y

    6K over six months? Do you feel that is a great return on time and money spent?

    Wouldn't you make more money doing buy and hold investments without nearly as much work?

    0Reply
  • Tony Gunter
    Investor 路 Canton, GA 路 Member since 2014 路 727 posts 路 500 votes
    10y
    Shawn Ackerman Congrats Shawn! For the sake of argument it would be interesting to hear how much you invested I the sale. Not initial start up cost etc., just marketing most directly associated with landing the sale.
    0Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @John Thedford is that a rhetorical question馃槀馃槀??

    0Reply
  • John Thedford
    Real Estate Broker 路 Naples, FL 路 Member since 2013 路 9k+ posts 路 6k+ votes
    10y

    Not at all. Couldn't you make more than that just having a rental or two? Six months for 6K sounds like a lot of time invested. 

    0Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @Tony Gunter to be honest with you, My Bigger Pockets pro membership did the trick for me. So $29.99 x 6. I met the seller through networking at at REI. I don't send out marketing ads in New York. I do however in The Mid-West where my real estate portfolio is.

     I get business through networking and word of mouth.  I attend @Damon Bodine REI NYC Meet Ups. There's a lot of good people who attend this Meet Up. Besides I run two other businesses so I don't wholesale full time. I guess this deal was more of me just proving to myself that I had the balls to do it.

    3Reply
  • Kirk Zacharda
    La Mesa, CA 路 Member since 2013 路 116 posts 路 26 votes
    10y

    @Shawn Ackerman way to stick with it . If you follow any of the real pro's that are not the Guru's but the givers the #1 advise they give is to never give up. Execute your plan daily and the activity as long as its the right activity will pay off. Dont forget to circle back to what is working for you and dont be afraid to pivot if needed. Way to go. Fyi my first Wholesale deal was 3k in southern cal. 

    3Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @Kirk Zacharda Thanks man!  As you know this Real Estate game is 90% Persistence and 10% talent.  Only those who have the "I won't stop" attitude will succeed.  Congrats on your wholesale deal.  I hear Cali is a tough crowd too.  Glad you kept pushing.  @Tony Gunter from what I hear GA has some markets that are on FIRE!!!!  Good luck down there.  

    If you guys and Gal lol  @Kirk Zacharda @Tony Gunter @John Thedford @Melody Everett-Neddo know anyone looking to invest in the Mid-West, let's J/V a deal.  I have tons of wholesale deals in Milwaukee WI.

    1Reply
  • Tony Gunter
    Investor 路 Canton, GA 路 Member since 2014 路 727 posts 路 500 votes
    10y
    Shawn Ackerman Thanks for the feedback Shawn. Yes, slim pickings down here. If you dive deep I think you can still find them. There are some cash flow areas that look tempting, but definitely tight in areas where cash flow and appreciation potential try to intersect. The better school district areas tend to follow those guidelines directly. In Some of these areas the dirt has become too expensive to put up any new construction at a price point less than $400-$500k. Happy hunting!
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
    10y

    @Shawn Ackerman  have you thought of getting licensed and working in commercial real estate.. there is huge money in that if you have the persistence you seem to have and I can tell by your posts your pretty bright... I often wonder if people really understand how much money can be made on the commercial brokerage side of this business using the same time and effort one uses to wholesale a house and make a small fee for all your time and effort.. you talk to 100 potential commercial clients and have the same stick to it ness and you would be cashing 6 figure checks not 6k... just food for thought..

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    0Reply
  • Mike Lowery
    Rental Property Investor 路 Milwaukee, WI 路 Member since 2013 路 180 posts 路 104 votes
    10y
    Shawn Ackerman I'd be interested in learning more about your deals in Milwaukee.
    0Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @Jay Hinrichs I am a licensed agent in the state of NY. However I got my license last year July. In NY State you have to have your salesperson license for 2 years. I will definitely be taking the Brokers Licensing exam in July 2017. I know exactly where you are coming from..... It hurts my heart when I have to fork over 35% of my commission on MLS deals to a Real Estate broker. Honestly I Havn't really given commercial a great deal of thought however I do know that commercial real estate opens up a "whole" new world. Thanks for the food because I stay hungry! When that time comes I will certainly be reaching out to you.

    0Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @Mike Lowery Let's set up some time to talk during the week.  Mondays are generally no good, however Tuesday 5pm-5:45pm EST is open.  Let me know if that works.  Otherwise Thursday 9am-10am EST. is good.  Have you begun building your portfolio in Milwaukee WI yet?  That is a great market.

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
    10y

    @Shawn Ackerman  not me   follow Joel Owens on this site he is the one you want to learn from

    I am a developer /  builder/ lender  :)  I have not sold real estate retail in many years although we do help an occasional BP client buy here in PDX.. my wife is a broker she lists all our new constructions we are selling here in town..

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  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @Jay Hinrichs Thanks, I'll be sure to reach out to him as I get closer to that time.  It sounds like you and the Mrs. have market cornered in the Port O.  Out of curiosity, do you lend outside of Oregon on the residential side?

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
    10y

    Portalnd is a huge market we currently have 30 homes under construction and 9 flips going.. so we are small fish for sure... over 5,000 new homes will be built in our market this year... but can't complain.

    I only do JV's anymore I don't actually lend and I am in 12 states and usually have about 100 to 120 projects going in these markets that I fund. Keeps me busy.. for instance I was in KC this last weekend meeting with some of my ground teams.

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    0Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @Jay Hinrichs "I can't complain" says the guy with 100+ projects in play LOL!!! Not mad at you at all Jay.  When I read posts like that it just tells me that I need to turn my hustle up another notch.  I have a small portfolio in Milwaukee WI so if your ever looking do some business in the Mill I'd be happy to sit with you and put something together.  Keep in touch Jay.  Just sent you a request.

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
    10y

    I was in Milwaukee in Aug... acutally at the state fair with my mom who is 82... and from there..

    Not an area I am personally interested in for my model.

    good luck... think big get out of the wholesaling mind set and making little commissions start thinking big stuff.. it will come..

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    2Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @Jay Hinrichs Ok got you Jay.  Thanks for the encouragement!  I'll meet you at the TOP!

    0Reply
  • John Thedford
    Real Estate Broker 路 Naples, FL 路 Member since 2013 路 9k+ posts 路 6k+ votes
    10y

    @Shawn Ackerman

    Jay has done quite well if you follow some of his postings. Made millions. Lost millions. Made more millions. Look at Joel Owens. Joel does phenomenal too. I just don't see busting my rear for a few bucks and besides that rentals are the gift that give over and over. In just a few years that have given me the financial stability and freedom everyone wants. I took a 40 year break from investing in RE. My mistake! Started again in 2012. Now I am enjoying the income and also doing sideline business such as HML.

    0Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    @John Thedford Thanks for the input.  It sounds like your point as is @Jay Hinrichs is to think bigger?  I get it!  It's kind of like the Raiders(NFL Football Team) celebrating a win in the pre-season when the purpose of playing in the NFL is to win a championship.  

    I own a rental portfolio John and looking to scale steadily over time. I fully understand the benefits of passive income. However in real estate there are so many avenues to travel so I'm really just throwing bologna at the wall to see what sticks. All while remaining deeply rooted in the expansion of my rental property portfolio. How are you enjoying the HML side real estate? any interests in buying NPN?

    0Reply
  • Dominique Poindexter
    Chicago, IL 路 Member since 2016 路 36 posts 路 10 votes
    10y
    Congrats!!
    0Reply
  • John Thedford
    Real Estate Broker 路 Naples, FL 路 Member since 2013 路 9k+ posts 路 6k+ votes
    10y

    @Shawn Ackerman

    I LOVE HML. Returns have been great. Keep in mind I do both HML and buy and hold. They serve different purposes for me and the returns are made in different manners. Buy and hold gives cash flow, tax benefits, and appreciation which can be leveraged into tax free exchanges. Some of my rentals have almost doubled in 4 years. You can shelter these gains. On the other hand, HML is steady strong income. No tax benefits allowed UNLESS you do it inside a retirement plan and then every dime withdrawn is taxed. Most of the loans pay off in a few months. Add in points, and the annual ROI goes through the roof. I have had several return over 30% per anum. I have never pursued NPN. I know Jay has, and he stated he took down several loans from banks just prior to foreclosure and then got the properties. Phenomenal! As you stated, there are so many different ways to make money in this business. As of now, I have complained to the wife we aren't having enough fun, traveling to see the kids and grand kids, etc and that is what I really want to do. I also have another business that I run that treats me well and in which I have become one of the top players in the country. So, I am not chasing RE deals hard. I am looking for a few more rentals, doing HML (loaned a multi-millionaire some money last week and wondered if it shouldn't be the other way around LOL), and having a good time. Here is a pic where we went for lunch Saturday and met friends from PA. Pics like this help sell SW Florida.

    0Reply
  • Shawn AckermanPro Member
    OP
    Real Estate Entrepreneur 路 Mid West, East Coast 路 Member since 2015 路 3k+ posts 路 1k+ votes
    10y

    LOL!!! @John Thedford you definitely have it figured out my friend.  Keep the encouragement coming.  I'm loving it!  However I will add that your photo of the blue sunny Florida sky is not fair.  I'm here in NYC and the weather doesn't know what it want's to do LOL.  Family is the greatest asset as you already seem to realize.  Again, As I have told @Jay Hinrichs when I read you guys posts and understand your stories, it just tells me that I'm not hustling hard enough.  Looks like I will meet you at the top as well Sir!  Lastly, Please excuse my sarcastic response to your question in the top of the thread as I through talking with you more I realize that your sentiment is coming from a good place.

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