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On my way to a million

21elnegocio

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Update:

My brother and I partnered up and we have been selling more and more properties. We are at about a little less than $200k on a good month, we are doing more marketing this month to make it to constant $200-300k a month.


I also started a real estate team, I am not seeing crazy returns on it yet due to all my agents being new but once they get the ball rolling they will start bringing a little cashflow in.
 
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Action Mike

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Update:

My brother and I partnered up and we have been selling more and more properties. We are at about a little less than $200k on a good month, we are doing more marketing this month to make it to constant $200-300k a month.


I also started a real estate team, I am not seeing crazy returns on it yet due to all my agents being new but once they get the ball rolling they will start bringing a little cashflow in.

That's awesome! Is that $200k-$300k all in wholesale deals? What do you find is the best marketing method for finding deals?

I am looking in to doing wholetaling in my area where I find a deal, buy it using cash or hard money and then reselling it with no rehab, maybe clean up, cut grass, and that's it. I know of another investor in my state doing this and he is turning about 25 properties a month. Basically traditional wholesaling but with taking ownership before selling to another investor, my state has had some legal issues come up with certain people wholesaling, although they were not managing the process correctly which caused the issues. I guess the idea is if you actually buy it first there is no co0ncern with reselling a property.
 

Action Mike

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What state is this? Because I’m currently in Texas and planning on wholesaling in my neck of the woods.

This was in Indianapolis Indiana. As long as you follow your state laws its perfectly legal and safe to do just make sure you follow the right process.
 
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21elnegocio

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That's awesome! Is that $200k-$300k all in wholesale deals? What do you find is the best marketing method for finding deals?

I am looking in to doing wholetaling in my area where I find a deal, buy it using cash or hard money and then reselling it with no rehab, maybe clean up, cut grass, and that's it. I know of another investor in my state doing this and he is turning about 25 properties a month. Basically traditional wholesaling but with taking ownership before selling to another investor, my state has had some legal issues come up with certain people wholesaling, although they were not managing the process correctly which caused the issues. I guess the idea is if you actually buy it first there is no co0ncern with reselling a property.


Yes all in wholesaling man ! Just deposited $35k (two checks) for wholesale deals done this month, have two more that we are selling on the market like you mentioned. We bough them with a hard money loan and one in escrow that is a wholesale with a $30k profit, it is a porbate that we were supposed to close two months ago.

The best way for marketing all depends in your city, I know some guys that still do mailers and works fine, some do ads ppc (I wouldnt do this one until you have a solid business) It eats up your money really quick and if you are not putting properties under contract and selling them, it will wipe you out of business really quick. Another mistake I made was market too much (Marketing is key for any business) but you must have the man power to get back to all the incoming calls otherwise you just threw money into the sky all at once hoping to catch it all but since its only one you wont catch much.
 

GetRichODT

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Yes all in wholesaling man ! Just deposited $35k (two checks) for wholesale deals done this month, have two more that we are selling on the market like you mentioned. We bough them with a hard money loan and one in escrow that is a wholesale with a $30k profit, it is a porbate that we were supposed to close two months ago.

The best way for marketing all depends in your city, I know some guys that still do mailers and works fine, some do ads ppc (I wouldnt do this one until you have a solid business) It eats up your money really quick and if you are not putting properties under contract and selling them, it will wipe you out of business really quick. Another mistake I made was market too much (Marketing is key for any business) but you must have the man power to get back to all the incoming calls otherwise you just threw money into the sky all at once hoping to catch it all but since its only one you wont catch much.

How are you going about finding your wholesale deals?

I’m a flipper in Dallas and trying to get off of looking on MLS. Not many deals there
 

Gracious

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I know a guy doing pretty well out in UK doing the same thing as me.
@21elnegocio, I'm very impressed with your hard work. I live in London. Would you mind connecting me/ introducing me to that guy in London doing the same thing as you?
 
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Elif

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Yes! Real estate is not a Fastlane business but it sure does pay to pay your bills, I will continue to grow my rental portfolio. By the end of the year I will have another multiunits. Maybe a fourplex if I get a good price on it. That should make me close to half a millionaire if I get the right price on it. Real estate is a lot of work, but it sure does beat the 9 to 5
 

ShinyCarlos

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Hi @21elnegocio,
where are you now regarding to your goal?
Your thread is very inspiring, gives me lots of ideas for the futur.
I have until now bought one formation and I think already refund this investment through an appartment I've bought with a bank loan. I rent it and have a positive cash flow.
Would you have some books/trainings/other stuffs you recommend in order to get better in this field? Thank you!
 
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21elnegocio

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How are you going about finding your wholesale deals?

I’m a flipper in Dallas and trying to get off of looking on MLS. Not many deals there


Contact your local wholesalers, there is plenty of facebook groups. Join the "wholesaling houses full time" thats the best one, pull a list from your title company from pre-foreclosures and sing onto propertyradar. Those are homes with liens on them.
 

21elnegocio

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@21elnegocio, I'm very impressed with your hard work. I live in London. Would you mind connecting me/ introducing me to that guy in London doing the same thing as you?


Not at all man lets talk
 

21elnegocio

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21elnegocio

WholeFlips Wholesaling Houses Virtually
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Yes! Real estate is not a Fastlane business but it sure does pay to pay your bills, I will continue to grow my rental portfolio. By the end of the year I will have another multiunits. Maybe a fourplex if I get a good price on it. That should make me close to half a millionaire if I get the right price on it. Real estate is a lot of work, but it sure does beat the 9 to 5


Very true but it is very profitable in the wholesaling world, you can make up to $500k a month if you do it right. We are still working our way up to that amount, we are currently at about $120-$160k a month on a good month.
 

21elnegocio

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Update:

Deals are still being sold by our company but it gets slow at times, we are looking to expand onto other markets. I have thought about what @MJ DeMarco say son his book. If you are local you will be limited on income but if you do it a national or global business you will be reached. We will apply same model in other counties.


Does anyone know if wholesaling works in other countries ?
 

Real Deal Denver

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Update:

Deals are still being sold by our company but it gets slow at times, we are looking to expand onto other markets. I have thought about what @MJ DeMarco say son his book. If you are local you will be limited on income but if you do it a national or global business you will be reached. We will apply same model in other counties.


Does anyone know if wholesaling works in other countries ?

Awesome thread @21elnegocio

Keep up the good work.

As far as other countries go - forget it. I'm in Denver - a super hot market - so is yours - and you have California not too far away. That's enough to keep you busy for 150 more years.
 

Davejemmolly

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Sampath

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Goodmorning Guys,
Just wanted to give you an update. I am still on the path to becoming a millionaire, I am closer than last time. I currently have 2 fixer uppers going on at the same time, one new build that will start off here soon, our wholesaling business going on, and the real estate sales to pay my bills.


I have also taped into AIRBNB and I have one apartment up for rent, just listed it yesterday and I already have about 8 bookings !


There is a saying that goes like this "Success is leased and rent is due everyday" therefore you can not stop working towards your goals, the moment you stop you start wasting your profit and back at point A. You must also have a balance I believe in time blocking and having a schedule for everything, even family time. Keep working hard guys we will all make it.

Excellent inspirational story. Thanks for sharing.
How is your scaling process coming along?
I am sure you may have figured your powerful process by now
 

21elnegocio

WholeFlips Wholesaling Houses Virtually
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Awesome thread @21elnegocio

Keep up the good work.

As far as other countries go - forget it. I'm in Denver - a super hot market - so is yours - and you have California not too far away. That's enough to keep you busy for 150 more years.


Thank you we already started getting deals in Houston as well our second market, we started ramping up our marketing in Phoenix. That alone is a scary step, you have to commit to bigger contracts with marketing companies and you always ask yourself what if I dont get any deals and I am stuck with a monthly payment in the thousands.
 

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