Philadelphia, PA · Member since 2009 · 97 posts · 31 votes
I started researching wholesaling in December, about the same time I joined BP. I have wanted to get into REI since I was 18 (im 26). I got laid off and felt it would be the opportune time to get into REI. I started marketing at the end of July/late February. I will be getting my 1st check this friday. I got a property under contract for $15k and I am assigning the property for $20500. I will gross $5500. I just want those out there who are thinking about getting into REI to know that if you put in the time and effort in this business, it will pay off. It wont happen overnight but with patience and persistence it will happen!!!! Thanks BP for all the information and motivation!!!
Thanks Mike. I am obviously trying to make money, but at the same time I want all parties involved to walk away from the table happy. They cant all be home runs, so I will take what I can get!!!
1. I did not have to finance the deal because I just assigned the contract.
2. They both were fixer uppers and I assigned them as-is.
3. I dont really have a set formula. I just asked what the owner was looking to get and made it a win/win/win situation.
4. I got the leads from bandit signs, so they were deals that were not on the market.