Epic Real Estate Investing - CHILDS PLAY: The $21,000 Wholesaling SECRET Nobody's Sharing | 1421

Episode Date: February 7, 2025

In this episode, discover how wholesaling real estate can be a surprisingly easy and lucrative venture. Follow a detailed step-by-step breakdown of a recent deal where a property was sourced, contracted, and sold, resulting in a $21,000 profit. Learn how to find motivated sellers using pay-per-lead services, secure deals through efficient coordination, and locate cash buyers without an existing network. Watch as the host navigates through this process seamlessly, with valuable tips on minimizing effort and maximizing gains, proving that even in today's challenging market, real estate wholesaling can yield significant rewards. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. Hey, strap in. It's time for the epic real estate investing show. We'll be your guides as we navigate the housing market, the landscape of creative financing strategies, and everything you need to swap that office chair for a beach chair. If you're looking for some one-on-one help, meet us at rei-i-a-com. Let's go, let's go, let's go, let's go, let's go, let's go.

Let's go. I know I'm going to get some pushback here, but wholesaling today, it's almost too easy. And once you see me break down my latest deal and how quickly I found a seller, locked in a buyer and turned a $21,000 profit, you're going to be hooked. So let's go through it, step by step. Step one, finding a motivated seller. Now, the first step in wholesaling, and I like to refer to it now as flipping paper.

The word wholesaling, it's attracting way too much negative attention these days, undeservingly, but it is what it is. But the first step is finding a property owner who's ready to sell fast and for less than market value. But forget door knocking or cold. calling for hours. I use a smarter method now. Pay per lead. PPL. I use a few different services and I'll share those links with you below, but for this deal, I paid this company My Speed to Lead $290 for 10 leads, and one of them turned out to have just the right reason for selling. He had inherited a property in Alabama, but he lived in South Dakota and just wanted to pull the cash out of it,

and the first time we talked, he wanted maximum cash. So there wasn't a deal there, but listen to this, a couple conversations later. Oh, and we were on the phone for about 20 minutes. minutes, by the way, on this conversation. So I edit it down in the interest of just getting to the point. So, Jason, this is our third time talking, I think. And I know you've talked to a lot of people in between. And I'm just curious, well, why haven't you just sold it? Is no one coming up with your price? I took a few people, like you said, no one's coming near where I want to be. All right. Well, where do you want to be? I'd love to be. I'd love to be. And if I get that, I'd think I'd be able to make this and look happen. Okay. So I don't have my notes in front of me. How much do you owe on it?

I said one around like $360,000. 360. So you need 50. So we put 50 on top of the 360. That would be 410. If I sent that over in a purchase agreement, literally would you have a deal? Let's do it.

All right. Well, I know the property does need some work. And I'm going to have to confirm those numbers with a physical inspection. We can do that right away. And as long as there's nothing majorly wrong with it, I don't see why we can't make that work. But if we do find something, Jason, we may have to have another conversation. Is that fair?

Yeah. All right. Well, expect an email here shortly with the agreement in it. And as soon as you sign it, we can start the process. When will you be in front of your computer? I'm trying to bring up. All right. Well, cool.

We'll stand by. The contract for $410,000 was signed within a half hour or so of hanging up the phone. And see how simple that was? It took a couple of follow-up calls, but still very simple. No begging, no convincing, no negotiation wizardry, just solving a problem. In this case, the only thing to do was to pick up the ball other investors fumble. That happens more than you think. Step two, securing the deal.

Now, if emailing a contract for signature via email sounds complicated, I get it. Here's how I do it. I don't. My transaction coordinator does it. She's way better at the paperwork than me anyway, because I think I'm literally allergic to paperwork that is. I did it all on my very first deal like 19 years ago, and I haven't done it myself since.

So, she sent the contract to the seller via DocuSign and boom, deal locked in. And here's a quick win for you. You can pass this small cost onto either your buyer or your seller so it doesn't even come out of your pocket. Just add in a $250 document fee to your closing docs. If the seller or the buyer, if they challenge it, I waive it, no big deal, but it rarely even gets questioned, and it goes both ways too. So try this with your bank or your phone company or your next hotel stay. You'd be surprised how easily some of these junk fees get waived just by inquiring about them. Step three, finding a cash buyer. Typically, it's going to be another real

estate investor, but I didn't have a buyer's list or know anyone in that part of Alabama with $430,000 lying around. So I used a tool called MyInvestorBase.com to find investors flipping houses in the same city. And with really just a couple of clicks, I actually found a guy flipping houses on the same street as mine. So I shot him a text message. Hey, Shane, I've got a deal on the same street as the one you bought last month. Interested? In no more than 24 hours, Shane and I reached an agreement for $431,000.

That's a $21,000 profit for a few hours of work. And I did this from Las Vegas, the other side of the country. Step 4, closing the deal. Now, at this point, the heavy lifting was done. My transaction coordinator handled the paperwork, coordinated with the title company, and arranged for a virtual closing table using mobile notaries. The seller got their $410,000. The buyer paid $431,000, and I walked away with $21,000-ish.

I never saw the house in person. I never touched a paintbrush or a hammer, and never risked a dime of my own money other than what I paid for those 10 leads. So let's recap. Number one, I paid a few hundred dollars for a qualified lead. Shout out to MySpeedtolead.com. Two, I got the property under contract for $410,000. Three, I found a buyer willing to pay $431,000.

Shout out to my investor base.com for that. And four, my team handled the paperwork. Shout out to the team. Heather, thank you. You made that happen. And number five, I made $21,000 in profit. Now, do deals always go this smoothly? Of course not.

Rarely, actually. But this one, it's real and it's repeatable. And I'm not promising overnight riches, but I am showing you an easier path to build serious income with real estate. Even in today's market where so many are convinced that the economy is bad or the housing market is risky or the interest rates, they're too high. Flipping paper like this can actually make you rich if you're consistent and persistent, but holding on to the property for its income, that can make you wealthy. If you found this helpful, hit the like button and subscribe for more real estate stuff. We do this multiple times every week.

I'll see next time. Take care. And that wraps up the epic show. If you found this episode valuable, who else do you know that might too? There's a really good chance you know someone. else who would. And when their name comes to mind, please share it with them and ask them to click the subscribe button when they get here and I'll take great care of them. God loves you and so do I. Health, peace, blessings and success to you. I'm Matt Terrio. Living the dream. Yeah, yeah, we got the cash flow. You didn't know, home for it, we got the cash flow.

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I thought that the most surprising thing I could offer was an album about joy. You can listen wherever you get your podcasts. Oh, and remember, so much happens before the chorus. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.