How I Restarted Wholesaling With $0 (After Blowing $96,000)

What is going on, all my good people? My name is Nathan Payne. For those of you that don't know me, I am a real estate investor. I'm a wholesaler. I've been investing for several years now. And if you're wondering why the heck should I be listening to Nathan Payne's Wholesaling Storytime, well, hey, I'm making this because I am reliving the journey. I've been in, like I said, I've been in this for about 5, 6 years, but I'm going through my journey of how I got started in real estate and how I got my butt kicked trying to build this business. And I'm giving you all the ins, the outs, and what you guys can learn from my experience. And my promise to you is it's going to help you save a lot of money, a lot of pain, a lot of effort in the beginning because I went through all those problems. Now I've done millions of deals, millions of dollars in transactions, not millions of deals. I haven't done millions of deals yet, maybe one day, but no, millions of dollars in transactions and real estate deals. And I want to give you guys the real, the raw, the real deal. Nathan Payne's Wholesaling Storytime. So again, my name is Nathan Payne. That's why you should listen to me because I've been doing this. I still do it. We just signed a contract with someone today where it's about an $86,000 wholesale fee, which sounds crazy, but it's true. And it's exciting. So that's why we're going to be talking about today is my storytime and how in this part of the story, if you've been following me, my journey on the wholesaling storytime, I went from, you know, my first 6 months making $96,000 to blowing it all on marketing and then start having $0 again. Okay. And where we're at in the journey is I don't have any money, but I believe in this. I've already done $96,000 in deals. Like, what do I do now? And I'm going to answer the question, guys, of How do you start wholesaling real estate with $0? Okay, what did I do after making $96,000, paying myself, paying marketing, blowing money? What did I do to restart with no money? I started with $0 twice. I started $0 when I first started, and then I blew it and had to start over again after like 6, 7 months of doing this. So that's what my promise is to you, is you're going to save time, effort, and a lot of pain by listening to this story. And the plan is I'm going to break down not only what I did back in the day when I lost all my money to get that money, which I don't recommend doing, but I'm going to show you what I I did in case you want to do it. I don't recommend it, but you can do it. And what I would do now. Okay, so that's the plan for today's call, guys, on the Nathan Payne's Wholesaling Real Estate Storytime is what did I do back then? What did I do now? Why wouldn't I do what I did back then? It was very, very risky. I don't recommend it, but I'm going to show you guys all today. So let me start with my story and telling you what I did and what happened. And so then I'll show you how I did it and then what I would do now to start doing deals with no money, $0. Okay. But before we get started, if you're watching this live, give me a shout out where you're watching. It's— I like to network. I like to see where my people are coming from. And I got to get my— I'm sponsored, not officially, but I'm sponsored by Kirkland. I love Costco. I'm going to work there one day once I retire, just for fun. I got to drink some so I don't get, you know, parched. Okay. All right, guys. So where we're at in this journey, made $96,000 plus in my first 6 months, blew it all. Now me and Corey, my business partner back in the day, are sitting in his apartment and we're like, dude, we ain't got any money. Like, what are we we gonna do? And we took the leap, okay? This is not a leap that I recommend for a lot of people, but we took the leap of faith and we got 0% interest credit cards. We went to Capital One and we went to American Express and we got $30,000 of, uh, interest-free credit cards for a year. And we're like, we're gonna put $30,000 of marketing on these cards and we're gonna get a freaking deal. That's what we're gonna do. I don't care. I believe in myself. And that's what we did. So we applied, we got 0% interest credit cards, $30,000. We hired virtual— 2 virtual assistant cold callers the Philippines. We started driving for dollars and we called absentee owner lists in Utah and we started doing Google pay-per-click. Okay, those are the 3 forms of marketing that we spent $30,000 on. Now this story, it goes further because we did several deals later on from that marketing. But let me just kind of explain what transpired quickly from that. So we put the money, we got the Google ads going, we started driving for dollars, and we got our virtual assistants. We hired a guy named Brian and Principe from the Philippines. Brian was a cool guy, both, both great guys. And the funny thing was when we hired these virtual assistants, like, we just gave them the dialer and we're like, here are these lists, these are— we've been driving, go ahead, just set up appointments and be leads managers. And that means like they would call, find out if people want to sell. And Brian, you know, he would be calling and Prince, they'd be calling. They got us a couple leads. And from those leads, it took maybe about 30 days from starting from nothing, just giving them the leads, to having some good opportunities that we're about to close. We got a deal from this guy named JJ. It was a $12,000 wholesale fee, and he just had a rental, and he was like, yeah, I'll sell it. And there was this other guy that we did that owned a landscaping company that it was an $8,000 deal. And the interesting thing about that one is we didn't really have a good buyer still. We didn't really focus on buyers. We were just focusing on getting deals. So we actually leveraged another wholesaling company to JV the deal, and they found us a buyer. So quickly— I don't want to say quickly, but we were able to do 2 deals from that, going all in on that marketing expense and getting and putting all that money on those credit cards. Okay, now we Later found out that Brian, he was like sleeping half the time on the dialer, even though he had gotten us that deal. He was sleeping a lot. We would check his screen because we had a service that you could take screenshots of your virtual assistants' screens. We don't really do that anymore because we trust them, the people we hire, but we would take screenshots of them working. And we found out that Brian was just playing video games the whole time as he was calling, which is whatever. If he's calling, cold calling in the Philippines at like midnight or whatever time it was, it's okay to play video games. But eventually he just would call people and they would be like, hello, hello, hello. And then 5 seconds, 6 seconds. I know there's a lag with the Mojo dialer, but he would just hang up on people. So eventually we had to get rid of Brian. We're like, Brian, bro, you ain't even working, you playing video games and you're sleeping. You gotta go, man. And he was cool with that. Was he cool with that? I don't know, but we had to let him go. Prince stayed with us for a while, but that's what happened, guys, when we were at $0. We had to start all over. We rolled the dice and we bet on ourselves, and we put $30,000 in marketing spend on a credit card, and we said, hey, we're gonna figure this thing out. And luckily, like about a month, we were able to get those 2 deals, one for $8K, another $12K. So that was $20K. So We're still in the hole $10,000. And there's another story that I'm going to leave for next time because I told you, I promised you guys that I would show you exactly how I started, how I got that credit cards, the 0% interest credit cards. And then I'm going to show you what I— I wouldn't recommend doing it again now, but I'm going to show you in case you want it. You want to try. I think it's important to have credit cards if you're running a business. So I'm going to show you and then I'm going to show you what I would do now. Okay. Because I wouldn't take all that gamble and just gamble everything on $30K. I wouldn't do that right now, especially if you're brand new. I had experience. I had done several deals at that point. But anyway, where we're at right now is we did a couple deals, and then later from Google, we actually ended up doing like another $20K deal and then another $80,000 deal from Google. Okay, so Google was cool. It was expensive, but it definitely was a return on the investment. And the driving for dollars is cheap. It just takes your time. And we did another $44,000 deal later from driving for dollars. So we started cranking. So that was good that we believed in ourselves and it worked out. But I'm going to tell those specific stories from the guy that we made like $80K. It was an $80K wholesale fee that we split with another wholesaler. I'm going to tell that story time. It's a pretty crazy story. The guy, we had to close within like 2 days because he said he was inheriting like $1 million from his like a rich uncle in Texas. And if he didn't get out there, he was not going to inherit the money. Anyway, we're going to leave that for another time. Let me show you guys exactly on my screen how to get interest-free credit cards. This is what we did. Now, again, I wouldn't recommend doing this, but I'm going to show you. I'm going to show you how to do it. So, hey guys, if you are wondering how to get into real estate or how to get started in wholesaling real estate with no money, this is exactly what I did when I first started. I got interest-free credit cards. I put all my marketing dollars on these interest-free credit cards. Now, that's not something I recommend doing immediately when you first get started, but I'm going to show you guys how to do it just because it is important to have interest-free credit cards that you, you use so you're not paying interest on money because you do have expenses in a business. So I'm going to show you. That's what I did when I first started. So with $0, I'm not going to say zero because obviously you needed to pay the minimum balance on it until you paid it off. But that's what I did when I first started. I got interest-free credit cards. I put some marketing dollars on that. Now, I don't think, again, you should do that immediately when you first get started. There's a lot of better strategies that require no money, no risk, no credit cards. But let me show you right now what I did in order to get interest-free credit cards going. And after that, I'll show you the real deal of what I would do to get started in real estate investing with no money. But let's dive right in. Let me show you right here. So all I did is I typed in interest-free, interest-free credit cards in Google, and then you can find on a lot of these websites like the best credit cards to use. Back in the day, like when I did this, when I started like 5 years ago, like the best credit card was like a Capital One one. And most of them will do 0% interest for a year. So you guys can just see right here and then you can apply for what cards you want and then you can see 0% APR for 15 months. So that means like if you put $20,000 on this card, that means that you can pay the minimum balance on it until you get— you make your investment back. And it can be a little bit risky. That's why I don't recommend doing it. But another service we use is Fund&Grow. If you've ever heard of Fund&Grow, we actually signed up for them. We paid them like $5,000. I think it was like $3,000 at the time, and they actually were able to get us over $100,000 in business credit that was 0% interest. That's one thing we did after we got the personal credit cards in our own names. You know, we ended up getting with— going with Fund and Grow. If you're wondering, how the heck do I get started in real estate investing with no money, but I want to spend money on marketing? Well, the cheapest way to do it— there's still risk involved— but 0% interest credit cards, and you make the minimum payments until you can pay yourself back. Now, is that the best idea? No. Now, it worked for me when I put $30,000 on credit cards. I was able to get a return and I made like $120,000 within a couple months. So it worked for me. Okay. But that's just not always how it works for everybody. Okay. But what I do now, this is what I teach everybody. And this is actually how I do deals going forward. And I've done several deals. Well, I've done millions of dollars in transactions, but this is the best way to do it if you're a beginner and you don't want any risk. So right here in the Painless Flipping Academy, obviously the best way way, in my opinion, to do deals that require little to no risk is obviously you got to pick your market. You got to pick a market that you want to work in, and you can find deals, guys. You can find deals on so many platforms. There's so many, so many platforms right now that need to sell their deals. There's wholesaling brokerages that are professional wholesalers that have deals that you can look at. There's Investor Lift, there's Sunday, there's Keegly, there's so many. The list goes on and on, and there's a link that I have in here to more platforms. Facebook groups have them. You can join tons of different Facebook groups. And I actually like to look at this stuff through like a little mind map. So I created a mind map that shows exactly the step-by-step process of how to find deals with no money. Okay. So like I said, after kind of getting your, your KPIs and understanding what activities you need to do here and the expectations, like, because obviously we coach this and teach it to people, you would go and find online platforms. Okay. So Investor Lift is an example. Properties that are for sale right now. And I call the wholesaler, I call the person that has the deal, the agent or the wholesaler, and I say, hey, do you by chance have a deal? Like, I see that you have a deal that's for sale. Do you by chance work with other investors like wholesalers and JV on deals? And 99.9% of time they'll say yes because they want to sell their deal, they want to— they want help, right? And you can just say, hey, I'll just throw my fee on top. So what we do is we reach out to these platforms that have deals, and then we analyze the deal, we call the wholesaler if you haven't already built a relationship with them, and you start finding buyers for those deals. You either have the buyers or you can go find them on Privy. You can find them on Batch Leads. You can find them on Zillow. There's so many different ways to find buyers like a sniper, okay? So let me just give you an example right here, everybody. If I was like, man, I don't have any money, but I want to do a deal. Let's say I'm in the Florida market, okay? I gotta log in apparently. Let me log in. So if I'm in the Florida market— actually, just go to Utah. Let's just go to Utah right here. So if I'm in Utah and I'm like, well, there's this house, let's go to this one, 438. There's this house for sale right now. It looks like it needs some work. I potentially have buyers that would be interested in buying in this part of Weber County. I can call my girl right here, Abby, and say, hey Abby, I was calling because I think I have a buyer that might be interested in this property. Do you mind if I run this by my buyers to see if they'd be interested? She's going to say yes, obviously, if you navigate the conversation and you're decent at talking to people. She's gonna be like, yeah, why not run them by your buyers? You have that conversation and then you go find buyers for those deals, okay? And you can find buyers for those deals, like I said, by going on batch leads, Privy, Zillow. I have buyers lists in Utah. There's so many ways, but really you just find an opportunity and you analyze it. I'm assuming this is a deal. I'm not breaking deals down with you on this call. I'm just saying you would just find a property of someone that already wants to sell. You're not making a brand new opportunity. You're not having to go find one and pay for leads or anything. You're just going to someone and saying, hey, I think I might have a buyer. You bring the buyer that's willing to pay more than their asking price. And if they want $438,000, You give it to your buyer at $445,000 and you've just made, what is that, $7,000? That's how you do it. Now, the fact that they're asking $438,000 and the ARV is $500,000, that's not a deal at all. So I would be interested to call her and be like, hey, you know, just from your numbers, it doesn't look like there's a giant spread. Can you give me a little bit more information? But Investor Lift is just one example. And I'm not telling you guys to like go around this girl or anything like sketchy. No, I would call her and say, hey, can I bring a buyer deal? We do that all the time. We do this with real estate agents. We do this with wholesalers. And we work with sellers directly. But this is absolutely free. This platform is free. There's tons of free platforms. Like right here, if you just go to prospecting, I actually keep a tab of all the platforms right now that have deals that are free. Like this is another service out there that has deals for free. Orlando, look at all these deals. These are wholesale deals where they're like trying to sell them, and you can go in there and you can be like, oh well, I think I can go find a buyer for this deal. Let me go call. And it has all the information. It's got pictures. So you're basically your own dispo company for deals that are already for I think that's— if I were to start over again, that's what I would do. I would start wholesaling deals that are already available to wholesale, you know, but you call the people that have them. You're not just doing this randomly because you don't want to work a deal that's potentially not going available once, you know, once you've done all your work, you're like, I found a buyer, and they're like, yeah, it's already sold. You want to have the connection with the wholesaler, with the agent that has that deal. So anyway, that's exactly what I would do if I had had to start with $0 as a brand new wholesaler, I would work deals that are already for sale versus when I started back in the day, I had to put $30,000 on a credit card. I had to roll that dice, and if I didn't get a deal, I would be $30,000 in debt. With this strategy, you're not in debt at all. So that's the painless way. That's what I show you guys in my school community. I don't know if I, I talked about that, but it's Painless Flipping Academy. If you want to go to painlessflipping.com, you can join it. There's a 15-day free trial where you can get your money back if you don't like it. Just started it, and it's exciting have something like that. So anyway, I thought it'd be really good to explain to you guys how to get started wholesaling real estate with no money. And again, if you don't know who I am, my name is Nathan Payne. I've been doing this for several years now, and I like to teach people what's going on and what works. Because when I first started, like I told you guys, I ran out of money twice. I freaking made $96K, went down to zero, had to do it again, and I rolled the dice. And if it didn't work, I would be in debt debt. So now there's a better way. I like to show people that in this call that I just showed you guys. That's what it's all about. So watch this. Hope that was helpful. Hope this helps you guys succeed because my goal again is to help you guys do more deals and love to do more deals with you as well. So everybody have a great rest of your day and I hope— leave me a comment if you're like, hey, this has been great. And join me at the Painless Flipping Academy at painlessflipping.com. If you guys love this stuff, I'd love to teach you more and help you guys get more deals. Peace out, have a good one, everybody. Hey everybody, what's up? It's Nathan Payne, and for the first time ever, we just released this insane training bundle that has literally everything that I've learned from doing a combined 4,000 deals in real estate, all from starting with absolutely no previous business background experience or any real estate experience. Plus, there is over $19,000 worth of free gifts that we're throwing in, all for an insanely low, low price. If you want to get your hands on this, be sure to click the first link on the description below right now.