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

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

Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 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 · Summerlin, NV · Member since 2014 · 45k+ posts · 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..

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  • South Glens Falls, NY · Member since 2016 · 4 posts · 0 votes
    9y

    Hey MSOOTNAUG!!!

    I believe The Law of Attraction led me to you.

    If unfamiliar with The Law of Attraction get on Netflix and watch "The Secret". It's life changing!

    Thank you for the information friend!

    Please send me the information about your website and blogs!

  • Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    9y
    @jean Zambrano thank you!! I will work hard toward a success story every month.. minimum!
  • Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    9y

    @Jeffrey Prendergast

    Heey. I will call up the Dixie and we shall watch it together. I can not wait to see what it is about. Love these random quests of watching movies. When I am filthy and have my mansion I will have 2 theatres side by side. One for each eye!

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

    @Conway Churaman Hi there,

    The birddog works as follows. 

    If you bring me an address that we end up buying you will get $1000. 

    You bring us 15 addresses we end up buying you get... yup 15K.

    Here is the deal though.

    Dont bother finding them on MLS, or Craigslist, or any of these oversaturated outlets.

    It is just a waste of time for all involved. We are loving the  "I just drove to my secret girlfriend with the lazy eye, and I saw this piece of  nastiness sitting there all boarded up, tall overgrown weed and the house smelled like hummus". Those.. Ohh nelly.. those are worth every dollar of your $1000 reward!

    Green?

    I will send you the blogs right....

    NOW!

  • Real Estate Investor · Orlando, FL · Member since 2014 · 10 posts · 0 votes
    9y

    @Jerryll Noorden Great work!!! admire your discipline and perseverance.

    Do you mind sharing the blogs? thanks

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

    WOW.. ok listen up everyone.

    I am getting a TON of messages on help on how to get started.

    Well first read my blog.

    But I will give you a crash course...

    1 FORGET getting a mentor (if you are like me). Everyone is saying you should get one.  If I had gotten a mentor he/she would only have slowed me down. If you are READY, crazy determined and obsessed and have a drive like a fanatic, forget mentorship. You will then only go as fast (slow) as the mentor is. For me.. that is not NEARLY fast enough!! (you really don't neeeeed a mentor to make it). (no disrespect to those that feel you do need one). Don't you just hate opinions? ^_^

    So then how do I start?

    Simple.

    Again this is my opinion and I am a newbie, so I know nothing John Snow!!

    And I assume you get all your admin set up. (gotten a website, gotten a google number etc. etc)

    ok here is the quick recipe.

    You Market your *** off. THAT is how you start. Well that is the goal at least.

    Now... that you have direction ("I need to market NOW"), you work backwards.

    What do I need to market?

    I need a list to market to. OMG I am brilliant.

    So get a stinkin list.

    so I bought my list.. what now?

    pick your marketing piece!

    Great you picked yellow letters (NOT)

    So what is next?

    Well if you do get a call and you sign a contract what then?

    Buy the house, sell the contract whatever your niche is..

    so you need money or you need buyers.

    Always market for buyers. find hard money lenders (if you want to buy the house)

    ok so what have we learned?

    Simple, reverse that recipe. Last item becomes first (remember? you went backwards from marketing).

    1. OK so first get buyers on your buyer's list.
    2. Find a list to market to (motivated seller's list)
    3. figure out what marketing piece to market
    4. Market said pieces
    5. Wait for calls
    6. sign contract
    7. assign contract, buy house whatever niche you decided to do
    8. get paid.
    9. Run 3 laps butt naked^
  • Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
    9y

    hi hi, thank you thank you!

    I have sent the blogs to your inbox ^_^

    Enjoy, you will love my SEO and  tips on how to rank 1 on google!!

  • Raleigh, NC · Member since 2017 · 80 posts · 25 votes
    9y

    I totally feel what you're saying lol.I feel like a crazy woman can't sleep at night can't sleep past 6 in the morning  and running to the computer to get started with my day. I went driving for dollars and have several properties that I'm so thrilled about.  I really want a mentor  because I don't feel like I know  how to find an End buyer once I put the house under contract.  It's scary....so any advice to take the plunge would be great.

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