How I Closed My First Wholesale Real Estate Deal At 15 ($30k Profit)

At 15 years old, I was able to close my first wholesale deal for $30,000 after struggling for 7 months. In this video, I'm going to show you the exact way on how I closed that deal from start to finish. And unlike your favorite guru, I'm not going to promise you the strategy that worked back then is going to work in today's market. So I'm going to show you the exact way on how I would start if I was starting today. If I was able to do it as a 15-year-old looking like this, then you're definitely able to do the same and better because you're learning from my mistakes. Let me take you back to 2018. I was watching every single YouTube video on how to make money with real estate, from flipping properties to being an agent. Now, I knew I didn't have the money money to buy houses. You're broke. And I knew I couldn't get my real estate license to sell houses because I wasn't 18, but I knew that couldn't stop me. So I kept looking and found out about wholesale real estate. You didn't need a real estate license and you didn't need past experience, but you still needed someone over 18 to sign the agreements for you. So I went and asked my parents, and to keep it short, they said, fuck no. So I got a family friend that was 21 at the time to start this journey with me, and it was off to the races. Now I knew there was no wholesale business if I didn't have leads, so I started off with driving for dollars, postcards, banded signs, and reaching out to real estate agents looking for deals. Now you might be asking, hold up, wait a minute, Jay, isn't this exactly what you tell us not to do? Yes, yes it is. But at the time, I thought that was the only way for me to get deals with the money that I had. So I started going to the Dallas hood. So if you know anything about these areas or you grew up in those areas like myself, you know shit can go left very, very quickly. I was always in and out because you have to be on your P's and Q's. You have to be aware of your surroundings. I would go there, take these addresses down, put them on a spreadsheet, go to True People Search, skip trace it to find the contact information, and I would start calling. If you've done this before, you know, "Who are you?" is normally the response that you get. Most people that I called weren't even related to the property. And to add fuel to the fire, the people that I did talk to were already called 30 times before. So after months and months of putting out our bandit signs through the weekend, getting calls from the county to take them down, talking to people that weren't interested, getting hung up on the phone, we finally got a call back from this lady saying she was ready to sell. So I went ahead and gave her an offer, which was literally 20% of what the properties in the area were selling for. And she said yes. So me and my friend, after screaming for 5 minutes that we got our first deal— hey, come on, baby, come on, yes, come on, yes— we went ahead and printed out the Texas 1-to-4 Purchase and Sale Agreement. And after watching 5 YouTube videos on how to fill it out, we printed it out and we started heading to this lady's house. As great as it would sound to say, hey, we met up, she signed the contract without any questions being asked, she ghosted us 2 times before actually meeting up with us at a Starbucks and signing the agreement. So then we took it to a title company and it was off to the races to find a real investor to purchase this contract. From posting it to every single Facebook group that we could find and calling all the people that we skip traced, we had no luck until we went to a real estate meetup and then we found a real estate investor that said, hey, I'll buy the deal. So then we got the B2C contract signed by him and 30 days later we closed on the property. Now I wish I could say I invested all the money that I made, but I went and bought a Charger and some Yeezys. Oh brother, this guy stinks. When you close your first deal, please don't make the same mistake. Now let's get into how you're going to close your first deal in the next 30 to 50 days, avoiding all the mistakes that I did. #1 Get out of your metro city. I was born and raised here in Dallas all my life. I still live here. And even at the point where I'm at where I'm closing at least 3 deals a month, I wouldn't touch Dallas with a yardstick. Why? Because everyone and their mom is a wholesaler in these metro cities. Dallas, Houston, Austin, New York, California, Florida, and especially Arizona. That's fucking wholesaler central. Try to stay in central areas of the map where you'll find this. Instead of this. If a nigga hops out their car right now, some weird shit, it'd be like 5 fast guns shooting at them. I ain't gonna lie. So quick. So quick. Predominantly try to stay over $120,000 for the average property value. Next, you need to understand how to talk on the phone. Either you're broke as a joke calling for sale by owner listings, or you're a rich nerd that's launching his own ad campaigns for inbound marketing. The sales process is still the same. Next, you need to understand the why. Why is someone selling their property to you and how will you offer the solution? The mistake most people make at the start, including myself, was focusing on the price. What I failed to realize was that price is a direct reflection of their motivation level. So here are some pointers. A script will never fix your inability to sound like you know what you're talking about. You must sound like you know what you're talking about even if you don't, because we're not talking to 20 or 30-year-olds, we're talking to people that are 45 through 60 and have way more life experience than us. So having confidence in your voice is number one. Next, you will need a framework to follow. In order to have a successful and scalable business, you need to have a formula that is replicable, AKA you can teach this to someone that has zero real estate experience and they will thrive. For that, my outline will be down below. Next, you will need a simple agreement that can be used across multiple markets and is easy to explain over the phone. That way a random person, AKA a homeowner, can easily understand it and sign away while you're on the phone. Now, my personal agreements I don't give away for free. Those are only for the contract flipping members. In the meantime, you can use the purchase and sale agreements that are provided by the Texas real estate commission in whatever market you're in and use those to close your first couple of deals. Title companies. It's super simple. Let's say I'm working on a deal in Louisiana. I'm going to go ahead and call 10 title companies local to the property that I'm working with and ask them, do you work with wholesalers? Do you work with blind HUDs? Are you okay with assignment agreements? The first one that says yes and says that they don't charge an upfront fee, I go ahead and work with them. And that's where you're going to send over your purchase sale agreement and your assignment agreement, and you're going to get the wiring instructions from them to go ahead and have the buyer submit earnest money. Now to the part that most people overcomplicate, finding the real estate investor. Zillow, Realtor.com, Redfin, Trulia. For these listing websites, you're going to go back to 6 months of sold listings where the description of those properties said this property has been renovated. You can also go through the timeline on when that property has been on or off the market and see how quickly it took that real estate investor to flip it. Next, you're going to reach out to the listing agent and ask them this. Hey, my name is Jay. I have this property in this zip code that's off market and ready for a real estate investor. I saw you helped this guy sell this property on Main Street. Would you be interested in connecting us for a fee? If they say yes and they actually reach out to them, you can go ahead and give them a percentage or you can give them a flat fee. If they are being lazy like most agents, then you can just take those addresses, skip trace them, and go ahead and talk to the real estate investor directly. Investorbase, PropStream. For these, I want you guys to focus on the properties that were bought for cash in the last 6 months by a corporation. You're going to go ahead and skip trace those and give them a call. The call is pretty simple. It should sound something like this. Hey, Joe, this is Jay. I saw you bought this property in this zip code. I have another one right by it that you might be interested in if you're looking for another project. And for the love of God, when they ask for the property information, do not send it out like this. It doesn't look professional. You look like every single other wholesaler. If you can, build a website off a template with your logo, the property pictures, and the property information, and send out that link. But the easiest way when you're getting started is use a Google Doc and put it in this format like this. When you're talking to these real estate investors, please be straight to the point and direct, but also do not forget to vet them. Don't accept offers unless they walk the property. Never agree to an option period with a buyer. Always have earnest money sent over to the title company no matter how near the closing date is. And keep up with the buyer and the seller to make sure they're all on the same page before closing date. Now, I just told you how I closed my first wholesale deal at 15 years old and the points that I would focus on if I was starting today. Now, if you're still skeptical if this works or not, here's Greg. He joined my program 30 days ago and now he's about to close his first wholesale deal for $17,000 only 30 days after joining. Now, I've had a bunch of other students that have had similar results because I know what I'm talking about. If you're interested in getting started with wholesale real estate and you're looking for a coach and you want to close that deal as soon as possible, click the link down below and apply to work with me one-on-one. We'll talk soon.