How long did it take you to close your first deal in wholesale real estate?

Question

I have already been told to start negotiating deals and talking to sellers. I have already been working on this for three days, and have talked to two sellers and have not closed any deals. Is this normal? How long did it take you to close your first deal with a seller, and how long did it take you to close the second deal? How many deals are you closing now a month as of today and how long did it take you to start closing, for example, if you are closing 5+ deals a month as of today, how long did it take you to get there? My goal is to at least close 4-5 deals a month.

Brandon Hightower · Answer

Hi Arthur,

To put things in perspective, I closed my first deal after a while of persistent outreach and process improvement, and the second one happened much more quickly after I realized what motivated sellers were really reacting to. We got started in 2020 and it took us 2 months to get out first. I don’t know what’s average but I wouldn’t expect anything tangible before 2 weeks. Obviously, you’re building traction everyday if you’re doing the right things.

Question; How many conversations do you have per day? After every call, are you getting better? Do you regularly follow up?

Additionally, 4-5 deals/month is feasible, but that's not a starting point; rather, it's a result of systems + volume + expertise. Be steady and you'll get there.

Happy to share more if it's helpful — feel free to DM me.

Jay Toluganti · Answer

Congrats on taking your first step. Thats a good start. Wholesaling is a numbers game. You will know your KPIs once you close your first deal and get money in your pocket. For now, focus on that first deal. It may take 2 months or 3. Depending on lot of things. Once you close, you will know how many calls it took to close that one. Then you multiply by 5 if your target is 5 deals a month. Things happen parallelly. So, keep going. Good Luck!

Arthur Hernandez · Answer

@Brandon Hightower Sorry, just to be clear. I did no have chats with those 11 homeowners, those 11 homeowners said when they answered "I have already sold my home", "My home isn't for sale", "You got the wrong number". A few besides those 11 homeowners just hang up. So is this still a good start? Or does this change things? Or is that what you meant in your answer?

Arthur Hernandez · Answer

Okay. And the only ways for lead generation I know of at the moment, are finding leads through manual prospecting, like PropStream (there a few other tools like this), the tool I am using Primetracers, the County Recorder Office, I have been told to use Zillow (FSBO) but only a few houses show that are within 30+ days listed. And then there is marketing to get inbound leads. What lead generation channels are there for finding prequalified leads?

Arthur Hernandez · Answer

Hey Brandon, thank you for leaving a comment. I truly appreciate the time you have taken to answer my post. 2-3 months is what most have been telling me so I assume this is correct. I have been making phone calls to sellers that I get off a web app tool called Primetracers. I have called 82 homeowners and have left 65 voicemails (I have gotten two calls back from the voicemails) and have talked to 11 homeowners but I have had no "meaningful conversations" with them, for example like checking for the 4 pillars check. They either answer and tell me "I have already sold my home", "My home isn't for sale", "You got the wrong number", a few just answer and hang up, and I have offered a Subject-To to a homeowner but rejected the offer. Today is my fourth day. I feel in my very first phone call I did okay but after the second, third, fourth, etc... I felt sorta nervous and my voice was a little shaky, but I have gotten way more comfortable and I think yes I am doing more better after every call. And that is where I am at right now funny you mention, I was planning to ask Gemini AI on when should I "Follow up"? I am hoping within 2-5 months I can close my first deal. Just wanted to know how long it would take.

Brandon Hightower · Answer

This is actually a good start. Most people don’t even get to 80+ calls in their first few days.What you're going through is normal. Many of those answers, such as "not selling," "wrong number," and "hang-ups," are simply a part of the game. There is nothing wrong with what you're doing.Eleven chats is still insufficient to anticipate a "meaningful" one. More repetitions and improved targeting are typically associated with that.On follow-up:

-Follow up in a few days if they expressed any interest at all.

- For not interested, it depends on their additional statement aside from not interested. E.g not now maybe next month or maybe in a couple of weeks and so on.I would say, pay more attention to calls you can reliably answer each day and how can you make your daily discussions better than to "when will I close."

Have you thought of exploring other lead generation channel where you can focus on working with the prequalified lead instead?

Izaiah Barba · Answer

Hey Arthur, three days and two seller conversations is not enough data to judge anything. That's completely normal.

Our first deal took a couple months of consistent outreach. The timeline varies a lot depending on your market, your list quality, and how fast you're improving on the phone. The reps compound quickly though. The more conversations you have, the faster everything clicks.

We now average around 10 closed deals a month but that took years of building the right systems, team, and marketing channels to get there. 4-5 a month is a very reachable goal, just don't let three days of activity set your expectations.

Stay consistent, track your numbers, and focus on getting better on each call. Shoot me a DM if you want to talk through where you're at!

How long did it take you to close your first deal in wholesale real estate?

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