Wholesaling Houses Produces Ca$h + Freedom!!

Well it has been a little while since I have posted last. Boy time flies when you are having fun and having mini vacations all over the place! Pretty much this whole summer I have been having company over or been here or there. I will tell you it is good to be back and settled after all the running around my wife, baby, and I have been doing. It is hard to keep the baby on a somewhat decent schedule when you are hardly in the same spot for more than a week!

We have gone to Massachusettes, Maine, North Carolina , Florida, and New York this summer. Massachusettes and least like 3 times. Why am I telling you this? I guess the point is that when you own your own business and can do whatever the heck you want you can do stuff like this.

Wholesaling Houses

Wholesaling Houses

This hotel was great! There is a pool on the the very top floor…basically the roof that had a look out like this onto the ocean! Beautiful I tell ya!

I use to remember having to dread talking to the boss to even ask for a vacation or time off. Shoot it was like pulling teeth to get out the door even a couple minutes early on a Friday! You know exactly what I am talking about and frankly it sucks doesn’t it? That is why I made the jump to the wholesaling business, because I wanted to be my own man so to speak. I was tired of dealing with the boss and all the stress that comes along with that. Sure you get the so called security of knowing where your next pay check is coming from but your trade a whole heckuvalot to get it! Your freedom and sometimes even your sanity!

Am I telling you to quit your job? Definitely not! What I am telling you is that  you need to make sure that you have set yourself up a business that will allow you to do that one da. It was the best move of my life. Is it the easiest business in the world? I would say definitely not! You need a lot of things to survive this business and it all comes back to how bad do you want it? I wanted it bad….REALLY bad!!!

My basic rule of thumb is that when you have had a MINIMUM of 6 months consistent income from your wholesaling business you can think of making the jump. For most I would say a year. I can hear you in your head right now “”Alex a WHOLE YEAR???” Yes, it all comes back again to how bad do you want it? If you want it bad then one day you will end up with checks like this on a monthly basis

Wholesaling Houses

 

I like 12K checks! What I really like is 20K checks! I would like to get some more of those so I gotta keep movin. You know I was actually hoping that month I would have like 30K worth of checks for that month but you know sometimes it does not happen exactly as we plan. I actually had a deal in which we were set to close and the lady told us that she was having sensitive family issues. Well turns out she went and sold to somebody else for 4k more! Can you believe that?!?!? She used some manipulative “family issue” excuse to try to get out of the contract so she could sell to somebody else. So we are in the process of dealing with attorneys and such and should squeak some money out of it. I will tell you if you are in business that this stuff is going to happen. So you just deal with it and roll on!

So what is keeping you from rolling on in your wholesaling business? Leave me a comment and let me know. I want you to be in a position where you can do whatever the heck you want to. Come join me over…its fun 🙂

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  • craig white

    Great post. What I would like to know is how can I build a solid buyers list? Above and beyond everything else this is my main concern right now.

  • craig white

    Great post. What I would like to know is how can I build a solid buyers list? What are your sure fire ways to attain quality and reliable buyers. Above and beyond everything else this is my main concern right now.

  • ana

    Hi Alex,

    I’m still waiting for you to post about how you get the homeowner to accept your low offers. Also do you follow a certain formula ie. 65%ARV-repairs?

    Do you ever make the offer over the phone or is it always in person?

  • admin

    Hey Ana sorry about the delay in the answer for you. If you have been following me on facebook or twitter you can see thing have been really busy for me in a good way! 🙂 I will do a video post exactly for you by the end of this week! Hope all is well for you. Thanks for your continued readership!

  • I totally agree with that comment about being your own boss and leaving the Just Over Broke behind. I just started my own MLM business and it feels great making moves and building my clientele and finding new partners.

  • but the only thing that is stopping me from having a successful real estate biz is finding my endbuyers because I find a lot of Reo’s in the area i am looking at. I am not sure what the process is for the double closing is. Hit me up with some advice. Thanks and Peace.

  • I’m glad you give people the realistic side of this business. I have been wholesaling for awhile now and although I have been closing deals, I still have not reach my full potential. You have to have some real consistency in order to be successful.

  • Hey Alex, great blog! Great info! I think to succeed with direct mail, you have to have a system that you follow consistently. I’m still working on this. I use RealQuest and Click2Mail and mail 500 to 1,000 a month. From what I’m hearing of you, that’s not good enough! I think a minimum of 5,000 is required. My question- how often do you mail your buyers? Do you spend the majority of your efforts mailing motivated sellers? Also, is Absentee Free and Clear the only campaign you run, or do you do Probate, REO, Divorce, Bankruptcy, Burned out landlord, etc?