3 closings this week, including a 21K Wholesale fee.

3 closings this week, including a 21K Wholesale fee.

Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes

All,

I have a success story to share. But it is not a success for the reasons you may think. I really learned a lot from this and from these mistakes I have made I changed the way I do my thing and this is causing a noticeable shift in my success rate and the way I run things.

I have been gone for a while. Had a hard time being social as I kept dealing with very dishonest sellers and buyers. I was in no mood to be social

If you are at all following my blog you will see that in May I signed a contract. I sold the contract and made a very easy 14K. That next month I signed an other contract... Well I was waiting to market till I got my fee, for selling the contract I signed. A few weeks ago the contract fell through. 

Yes you read it right I was dealing with this piece of &@)@&#@ for about 4 months. Then a dishonest buyer came my way by the name of Noreen Miller. I showed her the house and she signed the contract. By pure coincidence the home owner showed up just as she was leaving  in her car In the rear view mirror she  saw a car pulling up and she made a circle and came back to the house as I was talking to the homeowner. She got out of the car and introduced herself, exchanged names and I saw it coming. She waited till our contract expired by delaying things requesting very odd paperwork from my attorney that made no sense. My attorney told me that what she was asking was extremely odd and we couldn't make sense of it. Then I found out that she and the owner were in contact days before my contract expired already negotiating prices. Suddenly it made sense why she was requesting weird paperwork.

So it all fell through and lost a lot of money and time on this stupid deal. I made the biggest mistake a wholesaler can ever do. I stopped marketing because I was waiting for that deal to come through to get more funds to market. Big mistake!

From that point on I was done trusting people and I stopped helping others till I helped myself first.

So I stepped back, focused on ranking my site and took care of business without distraction. 

I placed a post here on BP (before I withdrew) asking if anyone was willing to fund, finance a deal both purchase price and repairs, and split gains 50-50. I was laughed at and told a hundred times that you need to have skin in the game and no one would agree to this.

I simply responded with... "I don't care how many will say no!, I just need one yes".

And guess what, I did get a yes!

Fast forward to October. I was invited to Zurich for a robotics competition called the Cybathlon. (Look it up, it is wicked cool). We placed second at the exoskeleton competition. 

When I got back 2.5 weeks later I had a hot lead waiting from my motivated seller website! I was worried the lead had gone cold, but it was blazing hot still!  This was one of the 3 closing I did this week.

ARV 255K

Signed contract for 64.5K and repairs are 65K

We will be in it for 135K and we are hoping to sell it for at least 235, but we will list it for about 255K

If we get what we are hoping to get for this house we will be splitting a 110K profit while the rehab will take about 8 weeks. The guy that was willing to fund it all and split everything 50-50 is now going to make about 40-50K with me. And I will do whatever it takes to keep this connection nurtured fat and happy!

This closing was not at all easy... but I will spare you the details. If you want to read on what exactly we had to go through to make it work, I am documenting this flip from beginning (finding leads and tweaking my website to make it a motivated seller beast magnet, to the entire flip). Find my blog to see it all come to life. To the new investors, this vid will be your golden ticket on how to do what we accomplished from newbie to 3 closings this week.

But getting leads from my website is "cheating". That is passive. They come to me.

I still want to make things happen for myself. So I did a scary thing.

I emptied my miserable retirement account and marketed again. This was the 3rd of November. Yes just last month.

A few days after my pieces landed I received a call. I signed a house with ARV of 160-180K for XX.5K. I was done dealing with dishonest buyers and sellers, so I bought the damn house myself. The next day I sold the house for XXK. Made 21K in about a week.

During those 24 hours, I got myself a 7K piano and other old antique furniture that came with the house when I bought it. 

So why is this a success? I tell you why.

I have marketed 3 times since I started. Every single time I marketed I have made a deal. 14K my first deal  21K my second deal, and an amazing flip opportunity for my 3rd deal. The reason I made just 3 deals this year was because I was stupid. Trust in people and waited for a good deal to market.

If you think that you need money to market you are so wrong! In reality, you need to market to make money. I learned this the hard way. But I beat it. With this I am stepping it up to insane levels! I have a lot in store for the next few months. You all shall see... soon enough!

This is why this is such a success for me. Sure the 21K is nice. But what I really got from this is a shift in mindset. I will be a beast in this game from this point on!

I am not slowing down one bit. I will not stop till I OWN CT!!

Newbies, read my blog if you want to know how I made it this far. It is a step by step recipe of the steps I took to get here. Of course thanks to many here on BP that held my hand. Now let me hold yours!

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Jay HinrichsBusiness Member
Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
9y

Jerryll controlling your inventory via taking title is when you move from beginner to advanced and create a real business.

I under stand the lure of wholesaling and assigning.. but if you were simply listing these deals you would not be dealing with a bunch of defective folks with broken moral compass's  and with your ability and energy in that same 4 months you would probably have listed and sold 4 props a month not one in 4 months.

but fast forward to your new found gig of flipping.. Done right that is were the money is.  And it can then catapult you into bigger and better things as you get track record of success and experience in the industry.

Now just make sure you pay your income tax's and keep on rolling  don't get behind on that..

See this reply in the discussion

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  • Jay HinrichsBusiness Member
    Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
    9y
    Originally posted by @Jerryll Noorden:

    Day 3 On my super flip! First time on a roof. Was scary awesome. My contractor is teaching me the ropes. What is so awesome about it is now I know what exactly is involved with Demo and replacing a new roof. Now I can make even better estimates on offers!!

    Hustle is the game!

    you need a safety rope..  more beginners are killed or maimed falling off of roofs than you can imagine.  talk to a good roofer and get your safety gear on before you do this again..

  • Lender 路 Staten Island, NY 路 Member since 2017 路 30 posts 路 12 votes
    9y
    Jerryll Noorden My friends are surely going to love this post. One does sanitation for NYC, the other works in book publishing, and the other in the restaurant field.
  • Lender 路 Staten Island, NY 路 Member since 2017 路 30 posts 路 12 votes
    9y
    ^ think for one second if they rather being doing real estate. Lol. I got to get peeps on board. Please DM me your blogs as I want to start studying. Thanks for everything.
  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    @Chant茅 Owens ^_^ thank you Gurlfriend!

    Yeah, I really think it is all about not giving up. This whole thread has people asking me how I did it.... seriously, I am just a newbie, not a guru, and I have done just a few deals, so I am no different than any other newbie here. And that scares me, suddenly people are looking up to me.. hey hey hey now.. I am not a guru! 

    BUT...

    I do believe I am on to something. Every single time I have marketed I have gotten a killer deal. 3 times can not be coincidence so true or not, I will use that to set my confidence level up there. As this is all you need to succeed. 

    So let's try it :)

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    @Tina S.

    It is funny when at first you are scared anxious and it is not a lot of fun ... when you need this to work in order to keep your head above water. But with every deal you make and with every dollar you put in your pocket, it is a little tiny miserable bit less worry and a little tiny miserable ittie little bit more fun.

    The more deals you make the more fun it becomes. It becomes a game.

    I never liked wholesaling, and I couldn't be happier about my flip. If this flip does well, I will be SET!!!

    That would be my break into the big boys!!

    And then, ooohh and then.. 

    Ohh nelly!!

    Brandon will then ask me to do an interview and I will tell him "if you shave your head bald I will, and show your left nipple".

    See if he will do it!  That dude is WAY too serious for his age!

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    @Jay Hinrichs

    You are right. Hard to contain excitement and I just flew up there. Not too smart. My mom would climb that roof and kill me if she saw that picture...

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    @Sean Senatorethank you stranger!

    Don't mind your friends brother. Yes it is a lot easier with friends in some ways. You all can motivate each other. The problems start when one person is waaaay more motivated than the other. Then drama happens...

    Will send you the blogs now :)

  • Investor 路 Philadelphia, PA 路 Member since 2015 路 69 posts 路 28 votes
    9y
    Thanks for sharing! Best of luck in the new year! Would love to read your blog!
  • Real Estate Investor 路 Miami, FL 路 Member since 2013 路 474 posts 路 214 votes
    9y

    @Jerryll Noorden Just stumbled across your thread. Very inspiring story! Glad to hear you doing well and only getting better, congrats!

  • Real Estate Investor 路 Philadelphia, PA 路 Member since 2017 路 2 posts 路 0 votes
    9y

    Congratulations @Jerryll Noorden seems like you've worked tirelessly and are finally starting to reap the rewards of your hard work. I am literally brand new to this community ( not real estate in general, but this community). Today is my first day on the site and your blog was the first thing that I saw. Pretty inspiring, I must say. I would like to, if possible, gain access to your blogs so that I may follow your site and your progress. Thanks in advance and keep up the good work.

  • Real Estate Broker 路 Laval, Qu茅bec 路 Member since 2014 路 183 posts 路 59 votes
    9y



    Originally posted by @Jerryll Noorden:

    I placed a post here on BP (before I withdrew) asking if anyone was willing to fund, finance a deal both purchase price and repairs, and split gains 50-50. I was laughed at and told a hundred times that you need to have skin in the game and no one would agree to this.

    That is awesome Jerryll!

    That is one of the most motivating things to me is when the naysayers inadvertently try to discourage me.  They don't realize how much that it makes them sound like a one percenter, that whole attitude of "Nobody is to be trusted unless I have known them for years or they are putting money in, I will only trust you if you don't need my money but ask me to finance you anyways".

    Good on you I have not shared this on Bigger Pockets but I have actually wholesaled 2 properties over the summer here in Montreal, Canada for a total of 26k assignment fees, another one worth 15k is waiting on some title issues to be cleared and I also just closed on two no money down sub 2 deals that will be make between 80 and 200k profit once they are resold.

    I have the aforementioned naysayers telling me that that sort of thing couldn't be done to thank for giving me the motivation to prove them wrong and succeed :)

  • Investor 路 Montr茅al, Qu茅bec 路 Member since 2015 路 22 posts 路 6 votes
    9y

    You are an inspiration William!

    Look forward to doing some deals with you in 2017!

    馃榾

  • Wholesaler 路 Charlotte, NC 路 Member since 2016 路 6 posts 路 0 votes
    9y

    Awesome job!!!! First time hearing about IC... have to look into it..

  • New York City, NY 路 Member since 2016 路 41 posts 路 10 votes
    9y
    Very nice! Impressive and definitely a great motivational booster! If you don't mind, please link me your blog as well. Any help to get my investing platform started will be greatly appreciated!
  • Massapequa Park, NY 路 Member since 2017 路 2 posts 路 1 vote
    9y

    Jerryll,

    Congratulations- that's awesome! Your excitement and enthusiasm are contagious- love it! I am new and look forward to checking out your blog. :)

    To continued success!

    Kerri

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    Hey @Kerri Dillon

    Thank you very much. :) 

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    @Shiv Choythani

    Thank you very much man. Just sent you my blogs :)

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y
    Originally posted by @Monique M.:

    Awesome job!!!! First time hearing about IC... have to look into it..

     You should ^_^

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    @William Johnson

    Wow man, that is insane awesome. You are the inspiration. Totally fantastic!!

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    @Abdul-Hakim Abdul-Ahad

    Wow man, what an honor. I hope my blog won't disappoint then.

    I will send you my blogs through PM. Thank you for writing me and commenting here, especially that you are new here. Welcome brother!

    Now let's go out and do deals!

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    @Maxwell Lee

    Thank you very much.

     Things are crazy now. ant wait for my next marketing pieces are going out!!

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    @Igor Avratiner

    Thank you man. I will be honored to send you the blogs :)

  • Flipper/Rehabber 路 Wilton, CT 路 Member since 2015 路 4k+ posts 路 4k+ votes
    9y

    Dudes!! 

    I just did an interview with a guy named Joe Fairless.

    I have no idea what is going on, but the universe is setting me up for a trap I TELL YOU!!

  • Investor 路 Marietta, GA 路 Member since 2016 路 29 posts 路 13 votes
    9y

    Congratulations, my friend! Looking forward to all of your other successes!

  • New York City, NY 路 Member since 2013 路 114 posts 路 20 votes
    9y

    Hey there.  Can I read the blogs too?  Where is the site?  Oh, and tell me more about your bird dogging car magnet opportunity?  I'm thinking of moving to the Orlando, FL area.  Do you buy out there was well?  

    I also have the feeling that I might hate wholesaling too.  But I am new to investing and I need a way to raise cash.  I suppose I have to pay my dues and get myself an education somehow right?

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