Quit My Job and Plan to Wholesale

537 Replies

Originally posted by @Caleb Heimsoth :

@Melanie Hartmann been about a year. How many deals have you done?

Purely wholesale transactions that have closed and I've been a part of or solely responsible for? There have been 3. (let the negative comments commence!!)

In addition, I bought a property in June that I'm selling today and have a few more little wholesale deals closing this month. 

For numerous reasons, it's taken a while to get the train going but it's going now and it's not stopping anytime soon nor do I have any interest in going back to a W-2 job. Sometimes the jump and risk is worth it, sometimes it's not. Regardless of the outcome I knew for me, I had a "safety net" to fall to if I absolutely needed it, but I had to give myself an honest shot and I'm so very glad I did.

 

Originally posted by @Melanie Hartmann :
Originally posted by @Caleb Heimsoth:

@Melanie Hartmann been about a year. How many deals have you done?

Purely wholesale transactions that have closed and I've been a part of or solely responsible for? There have been 3. (let the negative comments commence!!)

In addition, I bought a property in June that I'm selling today and have a few more little wholesale deals closing this month. 

For numerous reasons, it's taken a while to get the train going but it's going now and it's not stopping anytime soon nor do I have any interest in going back to a W-2 job. Sometimes the jump and risk is worth it, sometimes it's not. Regardless of the outcome I knew for me, I had a "safety net" to fall to if I absolutely needed it, but I had to give myself an honest shot and I'm so very glad I did.

 

 Woman...

this is just the beginning! Wait till you see what happens when you get my SEO started and rank #1.

you will seriously not believe your live change!! 

Originally posted by @Bryan S. :

@Melanie Hartmann I just came across this thread and skimmed much (couldn’t just go to last one wth lol) of it to see the update. I am happy for you, glad this is working out for you.

Cheers!

Haha, Thank you Bryan! Yes, this thread had gotten "out of control" with all the posts - part of the reason I stopped writing on it for a while. Was too much to respond to everything. Though, I figured I'd pop back on to give an update. It's about to be "next level" around here baby! I'm so excited! 

Originally posted by @Jerryll Noorden :
Originally posted by @Melanie Hartmann:
Originally posted by @Caleb Heimsoth:

@Melanie Hartmann been about a year. How many deals have you done?

Purely wholesale transactions that have closed and I've been a part of or solely responsible for? There have been 3. (let the negative comments commence!!)

In addition, I bought a property in June that I'm selling today and have a few more little wholesale deals closing this month. 

For numerous reasons, it's taken a while to get the train going but it's going now and it's not stopping anytime soon nor do I have any interest in going back to a W-2 job. Sometimes the jump and risk is worth it, sometimes it's not. Regardless of the outcome I knew for me, I had a "safety net" to fall to if I absolutely needed it, but I had to give myself an honest shot and I'm so very glad I did.

 

 Woman...

this is just the beginning! Wait till you see what happens when you get my SEO started and rank #1.

you will seriously not believe your live change!! 

Jerryll! I can't wait! I'm sure the first part of our convo will be me just gushing all over the place. I may even cry happy tears, just fair warning. I feel so fortunate to be at the place to start REALLY re-investing back into this business and begin building my portfolio. I am PUMPED! Closing is at 1PM today and I'm having the hardest time focusing on "work" right now. Oh but wait, I COULD take the ENTIRE rest of the day off if I want to. Why? Because I'm da boss... that's why, haha!

 

Originally posted by @Melanie Hartmann :
Originally posted by @Chris Anderson:

@Melanie Hartmann @Meggan Kaiser

Melanie, I hope you have done great in your journey.  I pray you have been blessed in abundance in your deals.  Thank you Meggan for giving those encouraging words to Melanie.  Even if wholesale deals have not happened over this past year (I don't know if they have), then put your name on lists as a cash buyer.  Have wholesalers send the deals that don't need as much rehab (5-10K cosmetic), get the funding for the deal, make sure the numbers make sense, close the deal yourself, and take it to retail.  Just pay the money costs and make even more money as the end buyer.  Continue failing forward toward your goals and be a blessing to others!

Thank you Chris! I'm actually selling my first wholetail deal today. I bought the property, had the front door boarded, the grass mowed 2x, spent 15 minutes cleaning glass up from the storm door that fell down, and am flipping it to an investor who's going to tear it down and rebuild. Not including taxes, I'm netting more on this deal than I cleared my entire last year of working my W-2 job. Real estate investing truly is a life and game-changer and I can only imagine what the builder is going to profit on this deal! 

this is not wholesaling this is investing and flipping.. and that is sustainable.. ready aim  CLOSE make big checks.. keep that mind set.

I got a payoff yesterday from a female investor in CA.. that I would like to share I think she is a big inspiration.. her path was to work for a hedgefund doing analytical on all the houses they were buying.. she went out on her own.. she found me.. I funded maybe 10 flips for her in CA as a equity partner.. 8 made great money 2 lost money  that happens..  but then she set her sights higher..  and now is doing whopper deals .. I just loaned her 100k just for earnest money 30 days ago she was between deals and EM in CA can be huge.. she paid me yesterday closed the deal its a multi million dollar MF deal.. She is a rock star no doubt. and I put her together with another lady I know who is wicked smart Jilliene Helman who started Realty Mogul. between those two ladies they really are killing it.. As a builder developer we cherish those that bring us build jobs.. the days of trying to make small fees on D class I hope are going to be behind you.. step up your game like your doing control your inventory and resell. it..  We are working on an App that is going to just kill it for inner city infill and how to find deals.

Once your realize this is a lifestyle  things come into clarity and its just as easy to do a deal that makes you hundred thousand as it does hundreds of thousands  just like my Gal in CA  I am so dog gone proud of her.. and in a small way take some credit in helping her launch. 

 

Originally posted by @Melanie Hartmann :
Originally posted by @Jerryll Noorden:
Originally posted by @Melanie Hartmann:
Originally posted by @Caleb Heimsoth:

@Melanie Hartmann been about a year. How many deals have you done?

Purely wholesale transactions that have closed and I've been a part of or solely responsible for? There have been 3. (let the negative comments commence!!)

In addition, I bought a property in June that I'm selling today and have a few more little wholesale deals closing this month. 

For numerous reasons, it's taken a while to get the train going but it's going now and it's not stopping anytime soon nor do I have any interest in going back to a W-2 job. Sometimes the jump and risk is worth it, sometimes it's not. Regardless of the outcome I knew for me, I had a "safety net" to fall to if I absolutely needed it, but I had to give myself an honest shot and I'm so very glad I did.

 

 Woman...

this is just the beginning! Wait till you see what happens when you get my SEO started and rank #1.

you will seriously not believe your live change!! 

Jerryll! I can't wait! I'm sure the first part of our convo will be me just gushing all over the place. I may even cry happy tears, just fair warning. I feel so fortunate to be at the place to start REALLY re-investing back into this business and begin building my portfolio. I am PUMPED! Closing is at 1PM today and I'm having the hardest time focusing on "work" right now. Oh but wait, I COULD take the ENTIRE rest of the day off if I want to. Why? Because I'm da boss... that's why, haha!

 

 Take a picture of that check and post it here and I will give you a discount!

@Jonathan Hulen

It depends. Everyone's situation is different. I, personally, just this month, went from full-time to part-time for the exact same reason. I decided to stop working so many hours on my W2 so I can focus that time on real estate. The industry I am in was demanding 80 to 100 hours a week. That was enough 2 put me in a prison. I had absolutely no time to meet with anyone concerning real estate, investigate deals, meet with anyone professionally during business hours, Etc. Sometimes less money and more time is the way to go for the long game.

@Melanie Hartmann

Realize, before getting too angry at the naysayers, 99% of them never read any of these comments and are just responding to your original post. So, the fact that you've already explained that you are the boss of your life and that you are awesome has gone completely over their heads. I agree with your reasoning wholeheartedly and I'm very excited for you. If anyone will, you will get it done!

Originally posted by @Jerryll Noorden :
Originally posted by @Melanie Hartmann:
Originally posted by @Jerryll Noorden:
Originally posted by @Melanie Hartmann:
Originally posted by @Caleb Heimsoth:

@Melanie Hartmann been about a year. How many deals have you done?

Purely wholesale transactions that have closed and I've been a part of or solely responsible for? There have been 3. (let the negative comments commence!!)

In addition, I bought a property in June that I'm selling today and have a few more little wholesale deals closing this month. 

For numerous reasons, it's taken a while to get the train going but it's going now and it's not stopping anytime soon nor do I have any interest in going back to a W-2 job. Sometimes the jump and risk is worth it, sometimes it's not. Regardless of the outcome I knew for me, I had a "safety net" to fall to if I absolutely needed it, but I had to give myself an honest shot and I'm so very glad I did.

 

 Woman...

this is just the beginning! Wait till you see what happens when you get my SEO started and rank #1.

you will seriously not believe your live change!! 

Jerryll! I can't wait! I'm sure the first part of our convo will be me just gushing all over the place. I may even cry happy tears, just fair warning. I feel so fortunate to be at the place to start REALLY re-investing back into this business and begin building my portfolio. I am PUMPED! Closing is at 1PM today and I'm having the hardest time focusing on "work" right now. Oh but wait, I COULD take the ENTIRE rest of the day off if I want to. Why? Because I'm da boss... that's why, haha!

 

 Take a picture of that check and post it here and I will give you a discount!

I wasn't planning to but, Jerryll, for a discount... here is why I do this: To create solutions for others and work towards building wealth for my family. My net profit, NOT including tax withholding, will be just over 36K or 41K, pending an outstanding water bill (darn you ransomware attack on Bmore City). I paid cash for the property and doubled my money in less than 2 months when I sold it to a local builder (9K was held back from this check for water escrow till we can get that bill sorted). Not bad, eh? This is technically my first actual "flip" but we didn't do much. Found the property while marketing for off-market deals - as most "wholesalers" do. Plan is to rinse and repeat: wholesale contracts that aren't a good fit for me and keep the ones that are. As Jerryll might encourage me to do, though I do try to keep it professional/cordial most of the time and even this isn't bad, but... BOOM GOES THE DYNAMITE! IN YO FACE NAYSAYERS! I'm sure there will be plenty of negativity no matter what is said or posted but who the hey cares! Ya'll naysayers are just bitter, haha! And for those considering it jumping in: just know it took me almost 1 year to get to this point. I hit the ground with no real plan aside from the drive to keep going and I would not recommend doing that for most. I did have solid back-up plan or two in case this didn't work out but I unlocked those "golden handcuffs" and now I'm free!

Originally posted by @Melanie Hartmann :
Originally posted by @Jerryll Noorden:
Originally posted by @Melanie Hartmann:
Originally posted by @Jerryll Noorden:
Originally posted by @Melanie Hartmann:
Originally posted by @Caleb Heimsoth:

@Melanie Hartmann been about a year. How many deals have you done?

Purely wholesale transactions that have closed and I've been a part of or solely responsible for? There have been 3. (let the negative comments commence!!)

In addition, I bought a property in June that I'm selling today and have a few more little wholesale deals closing this month. 

For numerous reasons, it's taken a while to get the train going but it's going now and it's not stopping anytime soon nor do I have any interest in going back to a W-2 job. Sometimes the jump and risk is worth it, sometimes it's not. Regardless of the outcome I knew for me, I had a "safety net" to fall to if I absolutely needed it, but I had to give myself an honest shot and I'm so very glad I did.

 

 Woman...

this is just the beginning! Wait till you see what happens when you get my SEO started and rank #1.

you will seriously not believe your live change!! 

Jerryll! I can't wait! I'm sure the first part of our convo will be me just gushing all over the place. I may even cry happy tears, just fair warning. I feel so fortunate to be at the place to start REALLY re-investing back into this business and begin building my portfolio. I am PUMPED! Closing is at 1PM today and I'm having the hardest time focusing on "work" right now. Oh but wait, I COULD take the ENTIRE rest of the day off if I want to. Why? Because I'm da boss... that's why, haha!

 

 Take a picture of that check and post it here and I will give you a discount!

I wasn't planning to but, Jerryll, for a discount... here is why I do this: To create solutions for others and work towards building wealth for my family. My net profit, NOT including tax withholding, will be just over 36K or 41K, pending an outstanding water bill (darn you ransomware attack on Bmore City). I paid cash for the property and doubled my money in less than 2 months when I sold it to a local builder (9K was held back from this check for water escrow till we can get that bill sorted). Not bad, eh? This is technically my first actual "flip" but we didn't do much. Found the property while marketing for off-market deals - as most "wholesalers" do. Plan is to rinse and repeat: wholesale contracts that aren't a good fit for me and keep the ones that are. As Jerryll might encourage me to do, though I do try to keep it professional/cordial most of the time and even this isn't bad, but... BOOM GOES THE DYNAMITE! IN YO FACE NAYSAYERS! I'm sure there will be plenty of negativity no matter what is said or posted but who the hey cares! Ya'll naysayers are just bitter, haha! And for those considering it jumping in: just know it took me almost 1 year to get to this point. I hit the ground with no real plan aside from the drive to keep going and I would not recommend doing that for most. I did have solid back-up plan or two in case this didn't work out but I unlocked those "golden handcuffs" and now I'm free!

 What do you mean "but" when you say you flipped it bit you didn't do much. That is the way you should do it. As little work as possible. You probably did the best flip in history woman!

so now get the SEO started. You should never have stopped. You would have been #1 5 months ago!

@Melanie Hartmann - If you make it to Chattanooga, TN I’d love to help!

I’ve quit a great job and it was an even greater decision! It allowed me to live a little and see some of the world. No regrets. I did have plans in place.

I quit my career after reaching the top of the ladder and realized it was a short ladder (collegiate adventure education and recreation).

I wish you the best. FIND A MENTOR

Originally posted by @Riley Kurtts :

@Melanie Hartmann - If you make it to Chattanooga, TN I’d love to help!

I’ve quit a great job and it was an even greater decision! It allowed me to live a little and see some of the world. No regrets. I did have plans in place.

I quit my career after reaching the top of the ladder and realized it was a short ladder (collegiate adventure education and recreation).

I wish you the best. FIND A MENTOR

So funny you should say that! We actually, if/when the time comes within the next 1-5 yrs, are seriously considering moving to TN. It's in our top 3 states. I plan to continue networking and building relationships around Baltimore and Maryland so that we can continue working the area virtually when we move. Then exploring the virtual real estate market further in other markets. May try to virtually do deals in TN before we move if/when the time comes. I'll definitely reach out! Thank you!!

And this business is not for the faint of heart, oh no! But It's so great to hear others doing the same and making it work! Keep the positive stories coming. Not everyone will succeed but it's not IMPOSSIBLE as so many people will try to tell you.

Congrats. Happy to see this!!

Originally posted by @Melanie Hartmann :
Originally posted by @Jerryll Noorden:
Originally posted by @Melanie Hartmann:
Originally posted by @Jerryll Noorden:
Originally posted by @Melanie Hartmann:
Originally posted by @Caleb Heimsoth:

@Melanie Hartmann been about a year. How many deals have you done?

Purely wholesale transactions that have closed and I've been a part of or solely responsible for? There have been 3. (let the negative comments commence!!)

In addition, I bought a property in June that I'm selling today and have a few more little wholesale deals closing this month. 

For numerous reasons, it's taken a while to get the train going but it's going now and it's not stopping anytime soon nor do I have any interest in going back to a W-2 job. Sometimes the jump and risk is worth it, sometimes it's not. Regardless of the outcome I knew for me, I had a "safety net" to fall to if I absolutely needed it, but I had to give myself an honest shot and I'm so very glad I did.

 

 Woman...

this is just the beginning! Wait till you see what happens when you get my SEO started and rank #1.

you will seriously not believe your live change!! 

Jerryll! I can't wait! I'm sure the first part of our convo will be me just gushing all over the place. I may even cry happy tears, just fair warning. I feel so fortunate to be at the place to start REALLY re-investing back into this business and begin building my portfolio. I am PUMPED! Closing is at 1PM today and I'm having the hardest time focusing on "work" right now. Oh but wait, I COULD take the ENTIRE rest of the day off if I want to. Why? Because I'm da boss... that's why, haha!

 

 Take a picture of that check and post it here and I will give you a discount!

I wasn't planning to but, Jerryll, for a discount... here is why I do this: To create solutions for others and work towards building wealth for my family. My net profit, NOT including tax withholding, will be just over 36K or 41K, pending an outstanding water bill (darn you ransomware attack on Bmore City). I paid cash for the property and doubled my money in less than 2 months when I sold it to a local builder (9K was held back from this check for water escrow till we can get that bill sorted). Not bad, eh? This is technically my first actual "flip" but we didn't do much. Found the property while marketing for off-market deals - as most "wholesalers" do. Plan is to rinse and repeat: wholesale contracts that aren't a good fit for me and keep the ones that are. As Jerryll might encourage me to do, though I do try to keep it professional/cordial most of the time and even this isn't bad, but... BOOM GOES THE DYNAMITE! IN YO FACE NAYSAYERS! I'm sure there will be plenty of negativity no matter what is said or posted but who the hey cares! Ya'll naysayers are just bitter, haha! And for those considering it jumping in: just know it took me almost 1 year to get to this point. I hit the ground with no real plan aside from the drive to keep going and I would not recommend doing that for most. I did have solid back-up plan or two in case this didn't work out but I unlocked those "golden handcuffs" and now I'm free!

 

@Melanie Hartmann good for you. I don’t think you owe anyone a explanation. I’m pretty sure you and your husband thought this out. I can’t see you just quoting your job with children while never really thinking things out. Most people will criticize you for the faith that they don’t possess. I pray all goes well.

God bless you.

Originally posted by @Zane Mears :

@Melanie Hartmann so happy that you took a leaf of Faith and are going all in. All the best to you in this amazing world of Real Estate. By the way, what market(s) are you planning to work in?

Thank you Zane! It was scary for sure as I've usually done the "safe" thing. It just got to a point where the risk of failure was more appealing than staying in my current W-2 position. I loved the idea and methods behind the work I was doing but the politics made it nearly impossible and I was miserable. So it was time for a change!

Primarily we focus on properties in Baltimore, MD but depending on the numbers will take a look at almost any property in MD or DC. We are growing our network and have partners in a few other states to pass any stray leads that find their way to us.

 

Originally posted by @Linda D. :

@Melanie Hartmann You did what you did. That’s the past. You know what you want to do. How can the BP community help?

Thank you Linda!

The next leg of my real estate journey will be to purchase buy-and-holds. I've wanted rentals for years now and I think next year I'll be in a place to start buying them. There are so many more directions to go with rentals! 

Acquiring and maintaining rentals actually feels more overwhelming now than it did before I started actively investing in real estate. Maybe from all the horror stories I've heard and seen the after-math of, ha!

My initial plan was to buy a small multi-family but would it be better to put money towards a syndication to start with? Not sure where to start - guess I'll have to get learning!

 

Originally posted by @Hasan Miller :

@Melanie Hartmann good for you. I don’t think you owe anyone a explanation. I’m pretty sure you and your husband thought this out. I can’t see you just quoting your job with children while never really thinking things out. Most people will criticize you for the faith that they don’t possess. I pray all goes well.

God bless you.

Thank you Hasan! I did have a general idea but not a solid plan. However, I would NOT recommend to anyone else that they leave a steady job to do this until they've closed a few deals first and have more in the pipeline. 

There are a lot of gurus out there showing off big checks. They often provide just enough information for it to "make sense" but not enough to actually help. It is not fun getting started when your main focus is, "How will the bills get paid after our savings runs out?" 

I too would be and am a Naysayer of what I did. That being said, I do NOT regret that decision as its led me to where I am today and where I'll be heading tomorrow.

@Jerryll Noorden - I'll be SEOing straight to the top! Am I right, or am I right?!?

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