Episode 64 - Appreciating Wholesaling
What does it take to get into wholesaling property — and then succeed? Sam has another handsome bald man (not Lucas) as his wingman today: FasterHouse’s Dennis ‘DJ’ Montgomery.
DJ is sharing how he went from rehabbing houses for people (after studying plumbing) to seeing a fat $3K paycheck for a wholesaler and realizing that there were easier ways for him to make money.
Appreciating and understanding wholesaling is what this episode of The FasterFreedom Show is all about.
There's authenticity when it comes to connecting with the seller, and there’s a relationship that needs to be managed with the estate agent.
There’s always opportunity, regardless of what the market is doing, and there are ways to expand your network over time in smart, entrepreneurial ways.
Sam and DJ unpack wholesaling in a clear and concise manner, doubling down on the pros and avoiding any long cons as they write down the numbers (on paper) and show those numbers to the seller, all the while preaching transparency and upfront honesty.
This is a refreshing insight into what it takes to be the ‘middleman’ in a deal, while still ensuring that it’s a win-win for all involved in the deal.
“If you’re going to buy a house and you’re going to shop it for a buyer, tell them that you’re going to bring buyers through, explain to them that you are able to bring investors that they wouldn’t be able to find otherwise.” - Dennis Montgomery
“You have to be yourself.” - Dennis Montgomery
WHAT’s IN THIS EPISODE?
- DJ’s origin story (interested in property at 18)
- Leveling up: wholesaling 50 to 60 houses in a year
- Why non-marketed leads are the best leads
- What makes a good agent — and why wholesalers should stay friends with them
- How to do wholesale risk-free
- How do contingencies come into play in wholesaling?
- What does it mean to ‘Dog and Pony Show’ someone’s house?
- Being upfront and honest gets you a long way
- Physically writing the numbers down and being transparent with the seller
- Sitting down and being ‘on their level’ (literally) when you make an offer
- Being human and finding something to relate to as the wholesaler
- Investing in yourself by learning how to wholesale property
- Writing handwritten letters to homeowners in your neighborhood asking if they’re willing to sell
Meet the Founder of FasterFreedom
I founded FasterFreedom to teach people just like me to take ownership of their freedom. There is a reason why real estate creates 90% of millionaires in this country.
It's an incredible vehicle for leverage, cash flow, appreciation and the sheer practicality of it… Everyone (and I mean everyone) has the opportunity to benefit from Real Estate.
Real Estate can be overwhelming at times which is part of the reason why we don’t see more people taking advantage of the incredible wealth creating opportunities it provides.
I launched FasterFreedom to do just that… we provide the foundation and grooved path for individuals wanting to achieve freedom and financial independence through Real Estate Investing.
I pride myself in practicing what I preach, meaning all of my lessons and tips are constantly updated and based on the real investing that I do right now- so you only learn what works and not through theory or outdated practices!
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