For those of you struggling with whether or not you should get into wholesaling, I just want to share a little story for possible motivation. This past, Friday night (5/18/18) around midnight I thought I'd check Craigslist before going to bed just to see what was there. (This was a little unusual for me because even though I have gotten a couple of deal before from Craigslist, it's not very often so its not like I check it everyday) but, at any rate, I checked it and there was a posting that had just been put up maybe minutes before of a house for sale in a great area not far from me. It was a fixer-upper and from the description sounded like the kind of house I'd be interested in so I sent an email and text to the contact info listed. Early Sat, I got a text from the guy saying to give him a call. I did. Found out he was selling house his father's house who no longer lived there. This guy lived out of state and was only going to be in town a couple of days to get house cleaned out and sold (so he was motivated). The greatest part was, because the house needed a little work (which was mostly cosmetic), the asking price was almost half of what the ARV would be (I did my research before going). So, I knew immediately after walking through that I wanted the house but I had to play it cool. He mentioned some other people were coming by to see it but I knew I wasn't leaving there without that contract! So, after a little negotiating back and forth, I presented my contract. He said he needed time to read over it but, again, like I said, I wasn't leaving there without it so I told him I'd walk through again and check it out while he had time to read it over. I sensed he was trying to buy time so he could see what the other offers might be but I wasn't leaving. Someone else arrived. I gave them space but I stayed around. Turns out, it was an agent looking for a house for a client. So, after a little more going back and forth, and him seeing that I was serious, I got the contract. That afternoon, I sent it out to a few of my buyers via text. By Sunday afternoon, I had 3 offers. Monday, I signed a contract making a $5,000 profit. Now, that may not sound like a lot to some and I have done bigger deals, but the point is, this is the only business I've found where you can make that kind of money (legally) in less than 72 hours that doesn't require any special skill or hard labor. I'm sure there are some out there, I just don't know about them. Now, let me say, obviously, it doesn't happen like this on every deal and I had a list of buyers I've cultivated over 3 years so it helps to have real buyers in place BUT still its nice to know you're in a business that can generate that kind of cash that quickly. So, hopefully, this might motivate some of you who are on the fence about this business. It works! So, dive in and good luck!
Awesome. Thank you for your story and the motivation!!
You're so welcome, Colleen!
Nice! That’s the way to do it, you have to chase after that contract in this business! Thanks for taking the time to share your story..
Thank you so much for taking the time to share your story Lena. I am still looking for my first wholesale deal and this really picked me up.
Great story, and thanks for sharing. Where are you in NE LA? My father's family is all in Tallulah and over the river in Vicksburg. I have a cousin that flips farmland.
@Holly Williams I'm down in the Ruston area. Definitely, familiar with Tallulah, though. Your cousin is smart 'cause there's a lot of farmland down in that area. I've tried to flip a couple of land deals but it wasn't for me. So, I pretty much stick to what I know, SFRs. But I applaud anyone who can do it. I know it can be very lucrative if you know what you're doing.
They all went to La Tech! Thanks again for sharing your story.