That first phone call!

[Gregory Schwartz]

We received our first call from our Deal Machine campaign!!!!

After a little over a month of mailing to a very small specific group of duplexes and 4-plexes we received our first phone call. The call itself, slightly anticlimactic, "You sent me a postcard. How much will you pay?" I asked to visit the property so I can provide a more accurate number, at that point the owner decided he didn't want to sell. 

What did I learn? The mailers work, my ability to close... needs some help.

Baby steps. 

How was your first phone call as a newbie wholesaler? 

[Joshua Ferrari]

How: I made the transition by giving it all I had. My ever focus of real estate was related to learning multifamily properties. More specifically, Class B & C apartment assets. I honed my niche to value-add in those class assets and in just two markets, Mobile & Baldwin County, & Escambia County. 

It was difficult at first to learn all this new stuff and I thought I'd never get a deal done because I simply just didn't have the capital or network to do bigger deals. My thought process was that I needed to dive in head first and learn as I go. I knew if I never took the leap of faith into the niche, that I would've analyzed it to death and would've been stuck wholesaling throughout my real estate career. (I'm definitely the spreadsheet guy.)

When: I took the leap of faith after a little over a year of wholesaling. I got tons of properties under contract, but was only able to actually flip one property. It let me know that I was capable and that I was going for small potatoes, while these other investors are cashing huge checks and they're just like me. They started out with nothing, but created success for themselves through hardwork and tons and tons of networking. So, I decided to do the same.

I found a local mentor who's been really successful in the space and he took me under his wing, so to say. He answered a ton of my questions and guided me to where I am today. Granted, it's been two years and I've just got a four unit, but the experience from that has catapulted me further than I thought it would, with brokers, lenders, investors, property managers, etc. I'm now at a point where I'm looking at 30-150 unit complexes that I'm being sent off-market from reputable brokers that I've built rapport with.  

Why: I did it because my end goal is financial freedom for my family & our future generations. I want to help others do the same. Knowing that it's possible to have this level of freedom is absolutely mind boggling to me, and I can't fathom why more people don't do it. Sure it's hard work, but the pay off is astronomical. 

My advice would be to "Just do it" -Nike. Dive in and learn everything that you possibly can. Don't procrastinate like I did in that first year. If this is what you want to do, then start today! Once you feel like you have a basic understanding of the jargon and the niche, start reaching out to other investors who are in that niche. Your network is your net worth and I learned that very quickly in this niche. 

If you want to know a good place to start being educated on the topic, you're more than welcome to check out our website over on my personal page. Here are some great books too, to get you on the right path. 

Best Ever Apartment Syndication - Joe Fairless

Traction - Gino Wickman

Extreme Ownership- Jocko Willink

Advanced Tax Strategies - Amanda Han and Matthew MacFarland

So Good They Can’t Ignore You - Cal Newport

10X Rule - Grant Cardone

Raising Private Capital - Matt Faircloth

Vivid Vision - Cameron Herold

The 4 Hour Work Week- Tim Ferris

The Miracle Morning/The Miracle Equation - Hal Elrod

The Hands-Off Investor - Brian Burke

Rich Dad Poor Dad/Cashflow Quadrant - Robert Kiyosaki

Never Split The Difference - Chris Voss

Crushing it in Apartments and Commercial Real Estate - Brian Murray

Multi-Family Millions - David Lindahl

Wealth Can’t Wait - David Osborne

Miracle Morning Millionaires - David Osborne

Retire Early with Real Estate - Chad Carson