HOW TO WHOLESALE REAL ESTATE IN 2024 (VIRTUAL)

At the age of 14, I decided I didn't want to go to school anymore. The college route of going to get a job and working for 40 years was never going to be an option for me because I hated following the rules. I still do and hated being told what to do. So I decided, let's do what everybody else has done. Google on the internet how to get rich online. I got a lot of results from real estate because real estate creates the most millionaires from equity. But I needed to get results fast. I wanted to at least. So then I found out about this loophole called wholesale real estate. I actually had a friend that was over 18 at the time, and he was willing to sign the contracts for me, so that's where the journey started. Fast forward up to this point, I'm 20 years old, I've closed a lot of deals and had a lot of experience in this industry over these past 6 years. I'm going to show you exactly how I would start today with wholesale real estate, with experience, without experience, with money, without money, with time, with no time. So stick along till the end and make sure you apply everything that I'm telling you to do. Otherwise, what's the point of watching these videos? What's the point of learning? If you're not going to do anything about it. What is wholesale real estate? And the most simple way that I can put it is we're connecting two different people. We are connecting a homeowner that's looking to sell their property and an investor that's looking to buy a property. Where do we fit in this equation? The perfect example is the seller is in a tough situation. He needs to sell his house fast. He needs to collect cash. He doesn't want to do any repairs. He wants to close in a span of 15 to 30 days, right? Right? He doesn't want to deal with any of the hassles that a normal real estate transaction when you're selling your property, which is you go talk to a real estate agent, he lists your property on the market, it pops up on Zillow, and you have a bunch of retail people looking at your property and willing to make offers. The problem with that is that it probably takes 30 to 90 days for the property to sell. You have a bunch of random people walking through your property. You have to do some repairs to make it look a little bit better, and you have to pay closing costs. And you have to pay the agent his commission. A lot of people don't want to do that, that's why they work with us. Now, we go ahead and get that motivated seller a contract and a purchase and sale agreement. We get that signed saying me, the wholesaler, is going to buy it for a certain amount. Let's just say $100,000. We go ahead and have that paper signed, we take it to the title company to make sure that everything is good, that the homeowner is the actual owner of the property, and everything he told us is true about the ownership status. Then we go ahead and get a different piece of paper, an assignment agreement. The assignment agreement is, pretty much all it says is, I am assigning that first contract, the equitable rights that come from that, to this other person. This other person is going to be a flipper, developer, landlord, whatever you want to call him. He's an investor. He is looking for these properties to force appreciation into them, keep it as a rental property, or flip it into the open market and actually get the top value possible. So we connect these two people. First contract says $100,000, second contract says $120,000. We go ahead and bring these two people together and we go ahead and collect the difference at the title company once closing happens. So in this case, it's $100,000 and $120,000. We go ahead and collect $20,000 for connecting these two people and providing that amount of value. That's why we get paid that much because we're connecting 2 people. Now you might be asking me, how realistic is it to make $20,000 on a deal? I will tell you, it is realistic and it isn't. It depends on the property value. If a property is worth under $150,000, you're looking to collect between $5,000 to $15,000 per deal. If your property is worth over $150,000 and under $300,000, you're looking to collect between $15,000 to $25,000 to even $30,000 per deal, right? The reason is that is because Under $150,000, you don't have much room for the investor to make money, the seller to be happy, and for you to collect your fee. So that's why those deal sizes are a little bit smaller. But when you get into these bigger spreads, you do have more space so the investor is making more money, the seller is getting more money, and you're getting paid a bigger fee. Now, to actually do this, there's two parts of the business. You have acquisitions and dispositions. Acquisitions, the simplest way I can explain it is acquiring the contract. Acquiring the property that you are looking to dispose of, right? So you acquire the property, you dispose of the property. Acquisitions, dispositions. For acquisitions, you need marketing and sales. You need to market to a certain seller that is going to give you his property to assign to somebody else. So you need marketing to get to them, and you need sales to convince them to sell their property. Same thing on the dispo side. You need marketing to talk to the motivated investor, and you need sales to get them to buy the property. So it's 2 steps for the 2 steps. Now, you can do marketing of multiple different ways, but that's where the factors come in. Do you have time? Do you not have time? Do you have money? Do you not have money? Right? So let me go ahead and explain that. How to get started with no money. I will tell you off the bat, this is not the best way to do this. This is the only way that you'll be able to do this without money, And it is with on-market wholesaling. Now the cons of that is it'll take way longer, you're gonna get burnt out faster, you're gonna start to hate the industry because you're not getting the results that you want, and your deal size is between $3,000 to $10,000 per deal, right? Not too bad, but the amount of work you have to do to get that amount of money is not worth it in my opinion. So how do you do this? Redfin, Zillow, Realtor.com. You go ahead and reach out to realtors. You can either ask them, hey, I'm a local investor, I'm looking for new properties to buy. Do you have any pocket listings? Do you know anybody that's looking to sell? I'm looking to pay cash and get closings done fast. That, if you do it to enough realtors, eventually you'll have a network of them bringing you deals on a consistent basis. But it will take a lot of calls and a lot of convincing because a lot of people will ask you off the bat, are you a wholesaler? Which you have to say no. And then they might ask for proof of funds. Yes, you can go to random Google websites and get a proof of funds. Funds. But to handle your business off a lie and off of hope, I don't recommend it. Another way that you could wholesale without money is JV. JV is a joint venture, meaning somebody else is doing their marketing to talk to sellers and get properties under contract, and you would go ahead and take that contract and sell it for them, collecting a percentage. This is only doing a part of the wholesale process and not being a full-service wholesale company, which is not a problem. You can make money with that, but it is also unreliable. A lot of wholesalers aren't very truthful. A lot of them are sketchy because it is a low barrier to entry industry. We get a lot of the bad people that think this is a get-rich-quick scheme when it's not. So you can do that. And to find these JV partners, you can go ahead and go to Facebook groups, real estate investment groups, and whatever city you think would be fit. And to go ahead and find the cash buyers, which is the value you're going to provide to the JV partner, You can do multiple ways. You can reach out to Redfin realtors, talk to them, ask them if they have any buyers in their network that they might be interested in buying a new project from. You can go ahead and see listings and skip trace. Another way is you can go ahead and look at 6 months of past sold listings for renovated properties. You can take those addresses, go ahead and skip tracing, and talk to the real estate investor that flipped the property and sold it for a profit. And especially if the property that you have under a JV contract is in the same area, he will be most likely to be interested in the property making an offer on it. That's another way that you can wholesale without money. Now we talked about joint ventures, we talked about agent outreach, and we talked about on-market wholesaling. Those are all ways to make money with wholesale without money. I don't recommend them, but if you're down bad and you really need to make money with wholesale and you want to get started today, go ahead and do that. Now, when you have money and you have time to get started the right way, this is my best recommendation where you're going to get the best results as soon as possible. Your budget will be between $300 to $500. You're going to be spending on a software service, which is where you're going to be pulling your real estate data from. You're going to be using a skip tracing service, which is going to be the most accurate to get the contact information to actually talk to these sellers. And then a dialer to not waste time talking to people one by one through your phone number and getting flagged as spam by your phone service carrier. We're going to be using a dialer. Those are the 3 softwares that you will need. Now, to actually do this, your marketing aspect of it will be pulling lists of high equity, non-owner occupied properties in areas where people are moving into. There's a lot of properties being renovated. There's properties being sold off market and on market. If they don't fit that criteria, do not go into that market. Markets that I don't recommend as a beginner are Texas, Florida, New York, California, Ohio, and Louisiana. I don't recommend those because you need to have experience to compete in those markets. It's like me putting you in a shark-infested water versus putting you in a pond with Nemo, right? You can compete in Nemo, you can't really compete with the sharks. Not yet, at least. So we're gonna be pulling these lists, we're gonna be skip tracing with the skip tracing service, and we're gonna be putting them into the dialer and not hand dialing it. We're gonna be dialing with a dialer, right? Now, to actually talk to them, you need a script. You can use something as simple as, hey, my name is Jay, I was reaching out about the property on Main Street, I wanted to see if you ever thought about selling it. The main thing with these first conversation, as a cold conversation, that you will need to get is condition, timeline, motivation, and how much they wanna sell for. If you can get these 4 aspects out of them on that first conversation, then you are set for a follow-up call. You have all the information you need. Now, for the follow-up call, you will need to reconfirm motivation, come into the call with high energy, and let them know, hey, this is how our process works and this is the offer we are able to make. If we agree with everything today, we can get this signed tomorrow morning, I'll send it over to the title company, double-check that title is clear, and then you can go ahead and move on to the DISPO process. Sounds very simple, but you need a lot of reps to be able to do this in a freestyle way like you see on my Instagram videos. Now you might be asking, when should I be making these calls? The best times for me, I'm on Central Standard Time, are from 9:00 AM to 11:30, 1:30 to 2:30, and 4:00 PM to 5:00 PM. Those are the best times where I see most people pick up the phone and answer. Do not call on Sundays. You can do this Monday through Saturday during those times. Normally after 5:00 PM is when I personally do my follow-up calls to get these properties under contract. And during the day is when I'm doing my cold calls. That is the best schedule that I can give you. If you can do those, that'd be perfect. Please don't call on Sunday because these people will get pissed off. A lot of people work 6 days a week. Their only day off with their family is on Sunday, so imagine yourself in that position. You're getting called on a Sunday while you're just leaving church. Hey, do you want to sell your property for cash? Yeah, nobody wants to hear that. Now the reason I recommend that option the best is because you get to have a lot of experience for a low price. With this next option that I'm going to give you is that when you don't have time, maybe you're working a full-time job, you just don't have the time to do this, right? You get out of work at 8 PM, nobody's going to answer the phone after 8 PM. Is if you have the money but you don't have the time, we will be focusing in on inbound marketing. That is running Facebook ads, TikTok ads, YouTube ads, Snapchat ads, ads to bring people in, right? They will be filling out a form. They will be going through a CRM and you will be notified when they fill it out and you go ahead and call them to see the same details, right? The same details that we use on the first call for cold calling of why are you looking to sell? How much do you want for the property? How fast are you looking to sell? And what is the condition of the property? These are the questions you'll be asking. The same thing. It's just inbound marketing. You're not doing it cold. And these warm leads, which are warm leads, not cold leads because they came to you. Will be more likely and more interested in selling than somebody you're calling cold, right? The problem is you will be paying more money up front to set up these campaigns. And then because you don't have the experience of talking to people cold, you will be burning through money at the start. But as long as you're a quick learner, as long as you put in the time to learn a script and understand the business, you shouldn't have any problem making your first $10K, $20K in your first month. Now, if you don't have the time or money to do the business, I recommend you either save up more money from your job or you go ahead and fix your schedule to have time to actually do it. If you don't have any of those, I don't recommend you get into it. You're going to waste a lot of money, a lot of time, a lot of resources, and you're just going to get tired of it. You're going to get burnt out of entrepreneurship and think it's not for you when in reality this time in your life is just not worth it. Right. You can go two ways around this. You can go ahead and figure it out yourself. It's going to take a lot of time. You're going to make a lot of mistakes, but you're eventually going to learn it if you don't quit. Or you can go ahead and follow a mentor's proven system. If you want to work with me, you can go ahead and click the link down below. Follow me on Instagram, DM me, ask me any question you got, and we'll see if you're a good fit. Talk to you soon.