7122 Normal Blvd. Chicago, IL 60621
In every sense of the word, this one was a doozy. I came across this project doing driving for dollars. I skip-traced the owner, found his phone number and began conversation with him about what his plans were for the building. We ultimately agreed on a price for the building and I began to market it. We went through multiple potential buyers, but eventually found a serous one. We had some minor hiccups and delays with title work, but it all ended with a $20K profit for myself and my partner.
Englewood 6 Unit
The Water Bill Building
6716 May St. Chicago, IL, 60621
I call this one the “water bill building” because of how much of a central role the water bill played on this particular deal. As always with any wholesale deal, you’re gonna have tire-kickers and time-wasters. Showing after showing, and advertising resulted in me finally finding a willing cash buyer. A failed sale earlier in the wholesale process from a buyer led to me being stuck with a water bill I paid—the day before closing—to help with the closing. I learned a lot from this deal, but ultimately got the job done and profited nicely on this building. This was my 4th building sold in this zip code in a little over a year, with a 5th pending at the moment.
14301 S State St. Riverdale, IL 60827
This was a relatively “easy” deal in every sense of the word. We had a buyer fall through early on, but through the power of social media, I was able to find another buyer and get this deal completed. The house is in a nice neighborhood right outside of city limits and was in good shape prior to rehab. The home needed mainly cosmetic upgrades and will be used as a rental for the buyer client. On this one, I provided multiple services, as I was able to provide the actual deal, gave contractor recommendation, and broker the loan for the rehab construction. All parties involved were satisfied with this closing, including the seller, who has other property he would like me to offload for him.
Facebook Layup Deal
a. Wholesaling is the act of canvassing for properties before they are listed on the MLS, and contacting the owners or deceased owner’s heirs in pursuit of getting the property under contract to sell to an end buyer, for a profit
a. The short answer is “no”. The line between what is “brokerage” and wholesaling” blurs more and more every day. Check with your local municipality and REIA’s on updated laws pertaining to the matter.
a. This is a very valid question. Besides money, the most important resource will be cooperative relationships that help you progress. You will look completely incompetent if you’re trying to do a deal and you don’t have these resources and relations at least initiated.
a. It becomes easier to sell deals once you have a consistent list of buyers who you have vetted and know to be bonafied investors. But above anything, the most important thing is to have a great deal. Calling investors and attempting to gather a grocery list from them of what they would like to purchase comes off as robotic and amateur. Every Youtube wholesaler in America recites the same speech when they call. Don’t be that wholesaler.
a. Absolutely not! In fact, most people who wholesale start that way because of a lack of credit or resources to be able to rehab homes themselves. Credit helps in being able to purchase goods needed to advertise for deals but is certainly not needed in order to make deals happen.
What You’ll Learn:
- Wholesaling Houses Basics
- Prospecting Homes
- How to Market A Wholesale Deal
- How to Sell a Wholesale Deal
- Closing Residential Deals
- Investor Mindset
- Winning Strategies
Once you enroll, you have immediate, UNLIMITED access to the course content. You can watch as many times as you need.
This is an easy-to-use, step-by-step guide that covers all you need to know about buying, marketing, and selling your first wholesale deal.
In an easy-to-read PDF format: you can read it on your tablet, computer or even your smartphone.
Start learning today with an immediate download.
Need a 1 on 1 session to help grow your wholesaling business?
- How to qualify deals for wholesaling
- Driving for Dollars
- What sites to use
- How to talk to sellers
- How to deal with title companies/lawyes
- And much more!