Closed on my 1st Wholesale Deal!!!
Hello BP!
I'm a little late to announce this, but I closed on my 1st wholesale deal on Feb 6th! It was a learning experience, and I could not have done it without the info on this site. It was all about just taking the 1st step and start marketing. I didn't have ANYONE on my buyers list, but was able to start building a BL once I got the house under contract. It took a little over a month to close due to title issues, but in the end I walked away with a $10,000 assignment fee of which I paid $3150 to a Real Estate agent that brought the cash buyer leaving me with $6850 net!
Things I will do differently:
--give my buyers a short window to close--I had 2 buyers string me along and held up the deal.
--Go to the 1st couple of closing to ensure everything is correct--The title company made a mistake at closing, which held up closing an additional day.
--Get the property on Craigslist 5x's per day, Zillow, Facebook, back page, a flyer at REIA meeting, etc All with links to my squeeze page-- IMMEDIATELY--- It took me 2 weeks to do this because I thought I had 2 buyers (but both were full out it)--Once I did this I got a real buyer in 2 days and 60 buyers on my buyers list.
Well on to the next one!! I have another house under contract!! My goal is to wholesale 50 properties by 12/31/16!