We Made $96,000… Then Blew It All in 6 Months

What is going on, everybody? It's my favorite time of the week, Painless Wholesaling Story Time. Well, actually, I got to say the name right. It's actually Wholesaling Real Estate Story Time for SEO purposes. All right. So anyway, guys, it's again one of my favorite times of week to relive the past, talk about how I got started knowing zero, knowing nothing in wholesaling real estate and building my business and going up and doing hundreds of deals, over 2 million in real estate assignments. And it wasn't all great. It was not all rainbows. And that's what I want to That's why I'm telling this story, guys, is because a lot of people, they think that business, you know, in wholesaling especially, like, let me get a deal really quick, you know, comes with your bumps and bruises. All right, so let me crack open my LaCroix because I don't want to get parched during story time. If you guys, this is your first time watching this, I'm reliving the journey. I'm a couple episodes in deep, so I'll kind of do a recap. I'll tell you guys where we're at in the journey right now. And, uh, you know, I didn't make this up. This is a journal that I started in 2018 when I started my real estate journey. What do we got? Yeah, it's right here. I wrote it, wrote it down. So this is the real deal. So let me, let me crack my thing, my drink open. If you haven't tried the black raspberry yet, you should. It's pretty dang good. So cheers. And this is sparkling water. This ain't nothing crazy, guys, but cheers to storytime and let's get into it.

All right, everybody.

So where are we at in the journey of Nathan Payne's Wholesaling Real Estate Storytime? Well, started not knowing anything about real estate, came from the door-to-door industry. Where we're at. Our last episode, I was trying to see a condemned house from a guy that I met on the road, and he's like, yeah, I'm selling this thing, come and look at it. So I went and walked inside. I don't know why it was a terrible decision to go into a condemned house that unboard for me to see. He was selling it and he was the owner. But anyway, terrible decision. Now, what's happened so far is after that deal, we— a previous episode, I talked about how we had partnered with a broker, a broker who was like, yeah, you can work in my office. We can do— you can leverage my Mojo dialer and you can work here. And yeah, and if you get any deals, great. And if you don't, you know, if you get any listings, give them to me. All right, so that's where we're at on this point. So we went from $0, 6 months later we did about $96,000 in wholesale fees. Okay, so we're getting a little ambitious. Okay, 5, 6 months in, we were getting pretty ambitious. We were like, let's spend this money we just made. And obviously I had a business partner, me and Corey, we're splitting the money. Okay, and, uh, we started spending a lot. Christmas time came, 6 months in, because we had started around May. So Christmas time came, we had hired cold calling squad, which I've gone over for all this on my story times, uh, previous episodes, but hired a cold calling team, didn't get any deals, really any deals from it, and it was expensive. Blew that money. We started doing mailers, didn't really get any deals from mailers, blew that money. So pretty much $96,000 down— I wouldn't say down the drain, you learn— but yeah, so getting paid, paying out money on marketing, the money's gone. All right, the money's gone. And we're talking to the realtor, that broker this time, and, you know, we're like, hey man, like, we're pretty much out of money from what we made. And we had at that point, we had said, let's partner 30-30-30, let's go, let's— me, Corey, and then him, let's split everything. And He was doing less work than what we were doing. So we were like, oh, hold on, we don't think this is fair. Plus, we're down to like no money. So we're just like, hey, this isn't really working out. This is where we're at in our journey. Made the money, spent it unwisely. And by the way, I'm working on my wrist strength. I got a jiu-jitsu tournament tomorrow. So spent the money unwisely and we're like, hey, we got to go. So we leave his office, we got no money and we know how to get deals is from like knocking doors, cold calling, like grinding. So where are we at at this point? What do we do? So this is what me and Corey you do. Okay, I've caught you all up to speed. That's where the last episode came in, where I— we're driving for dollars, we saw a home, kind of looked like a homeless guy, he took us into his house. We were trying to do anything to get a deal because we had just seen the highs, you know, we had gotten a mentor at that like previously, and he was like, wow, $96K, let's bring in a show. So we're telling everyone about how we had success, and then a couple months later, zero. We had spent it all and didn't get the return on our money. So what do we do? That's where we're at. We leave the office and I'm like, dang, Corey, I guess we can go work back at my house, you know, my basement. We can work at your, you know, we can switch off and go to each other's houses to work. That's where we're at. So we start doing that. Then I'm like, hey Corey, you know what, it was really nice working at an office, like an actual building. Like, we should probably just network with someone else that'll let us work there and not partner with them and just keep that— keep our autonomy, like keep it separate. And he's like, yeah. So I remember we had sat down with a guy named Andrew who was a really cool guy. He was— we met him at Aria and he took us out to lunch at like Cafe Rio a couple months previously while we were still working at the broker's office. And I said, let me call Andrew, let me see if, uh, maybe we can work to his office. Let's see if, you know, he'd be cool with that. So I call up Andrew, say, Andrew, we just left a broker's office, we were doing well, we spent all our money, and, uh, you know, we're, uh, we need a place to work if you're cool with that. He's like, sure, come on in, I got, I got some couple desks for you guys, come and work. So we're like, okay, cool, we got a new place to work. So we go over to Andrew's office and we tell him what we were doing. We were like, hey man, we did well, we spent all our money, didn't get the return. We stopped, we hired flyer, like, people to flyer, we didn't get any money, like, any deals from that at that point. And this is what Andrew— we, we worked I had to deal with Andrew. I was like, hey, Andrew, if— can we get like $2,000? We're going to like get our flyers going. We're going to get some marketing. We're going to buy the Mojo Dialer. We're like broke now. Okay. And he's like, yeah. So if I give you $2,000, you're going to pay me that money back and let me get a crack at all the deals you have. First crack. And we're like, yeah. And he's like, okay. So we go to town and we start knocking doors again. We start flyering again and we don't see success from the $2,000 we spent. I know that sounds crazy to everybody here. For us, it people was like, "Wait, how are you gonna spend $2,000 and not make money?" Unfortunately, that— I guess that's just the point where— and this was like the winter months, I don't know what it was, but we just, we weren't getting a return on our stuff. And Andrew, Andrew, like, we said, "Hey man, we spent the money, we're trying to get a deal, we haven't made any money." And he was like, "Yeah, it's cool, man. I just figured that money was going to be gone anyway." And I'm like, "Well, no, man, we want to pay you back." And he's like, "Well, yeah, get a deal and pay me back. Like, don't, don't worry about it." We're like, "Okay." So by the way, like, we ended up paying Andrew back as soon as we got a deal. Like, No problem. And he was like, whoa, for real? Thanks, guys. We gave him the check, $2,000. And we're like, thanks, man, for believing in us. And to this day, we're friends and I still chat with Andrew. We're cool. But anyway, that's, that's where I was, guys. We had spent a lot of money. We had made some money, spent it, and we were in a pickle and we were looking for anything that would help us succeed at that point. And that's where I'm going to end the story right here is on that cliffhanger. I'm going to end on the cliffhanger that like things weren't looking up for us 6 months after making $96K and then we're down. And I want to talk about like what I could have used when I was at that point because we were looking at mentorships at that point and they were all like $5K, $10K. We actually had bought one previously for $5K. I'm not going to say anything, but we had done what they had taught and that's actually kind of what got us a little bit in the pickle. We had done a lot of mailers, we had done a lot of, you know, cold calling, hired out teams, kind of what they taught, and we had just scaled too fast. Hold on, people. I know scaling sounds cool, but you got to be careful as an entrepreneur. You can't scale too fast. You can get yourself in trouble if you don't understand your cash flow. You can bankrupt yourself. Like, you can, you can go out of business even if you're making money. Like, if you're spending more than you're making, you're going out of business. And unfortunately, that's what happened to us. But we were able to rebound thanks to Andrew believing in us. What ended up happening with Andrew is he was like, hey, man, I'm actually going to get out of this office lease. I'm going to go somewhere else. So you guys got to find somewhere else to go. And that's why we kind of separated without getting a deal, because it was like a month after after he went there, he was like, you gotta bail, I'm getting a new office, it's smaller and I don't have space for you guys. So that's what ended up happening with that. And so me and Corey are scratching our heads. Again, I'm leaving you on that cliffhanger because we, even though we made that money, we had spent more and paid ourselves more than we made and got ourselves in this pickle. So what do I wish I would have had that would have helped me? Okay, I was in that position. It's a crappy position, especially if like you have people believing in you. People are like, oh, you did so well. And by the way, guys, this is 2018. I'm just, I'm reliving the memories so I can connect with everyone that's in that point and let you know you can get yourself in trouble if you're not careful, okay? And I don't want you to get in trouble. So what I've been trying to do, you know, obviously I've grown a business since then and it's been successful and I know how to do deals. But like, I've always tried to figure out a way to help people that were in the situation that I was in to not blow their money on, you know, mentorships that they're not ready for. I'm not saying that like I don't believe in people, but like sometimes you gotta go, you know, gradually. You gotta take your steps slowly, okay? So I've always tried to build things, you know, where I can educate help people get into this game and not, you know, blow all their money on education, like, before they can, like, scale and grow and actually, like, spend money on marketing. There's so many different things you need to learn before you get into that, like how to have a conversation with someone, how to navigate that conversation, like what paperwork to use, how to find buyers. Like, there's so many things that, like, if you just start spending right off the bat a lot of money, you're going to get in the same situation I was— out of business or in trouble. But thankfully, I was able to rebound, which I'll continue on next story time. But this is why I want to show you guys what I've made, which I'm really excited. I've been— I just launched it like 2 days ago. And this is something I wish I would have had. I'm going to explain why I wish I would have had it with everything that I make. I really am super excited to provide something like this because whether or not 1,000 people join or 1 person, like, I know this will help people and this would have helped me out a ton to avoid a lot of issues that I faced when I first started. So what the heck is this thing? Well, welcome to what's called the Painless Flipping Academy. This is something that I wish I would have had when I first started, and I'm so proud and happy to be able to provide this to people that, you know, aren't in a position to, you know, I guess like drop a ton of dough because again, that can put you in a tough position if you try to do that immediately. Like I told you my story. 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.