What’s going on everybody today, you’re here obviously, for Nathan Payne’s wholesaling story time hails from the trenches. That’s exactly what we’re going to be going over today. Is my experience as a brand new wholesaler, getting deals, giving you guys the truth. Because a lot of the stuff out there is not real.
A lot of people just talk about their wins. I’m about to tell you guys about my wins, my losses, so you can learn from my experiences. Okay, so if you were here on the last week’s episode where I told you how we got a deal from working with Don and the $19,000 deal that we got from flyers, and if you’re part of our email newsletter, you got the exact template of the flyers that we use, so you can use them yourself if you want. But this week, this deal that I’m about to let you guys know that I did a $28,000 wholesale fee.
dSounds great. It was good. Had a lot of ups and downs, and my life was threatened, okay? And I’m not just exaggerating here this. It was really threatened. And I want to let you guys know how to avoid situations like this, if you can. And about this crazy deal, because the deal with Dawn, if you remember the last episode, it went by pretty smooth. We were the worst negotiators ever. We offered more than what the seller asked. We just walked in that when we got lucky.
dThis one, this deal that we’re going over this week, the $28,000 deal that we got from targeting specific lists, which I’m going to give you this specific list we targeted inside, if you’re subscribed to the newsletter, I’m going to give you the exact list we hit. This was not an easy deal, guys, this was like my third or fourth deal when I first started. It was something I’ve never dealt with, and I’m gonna get into everything about it. So let’s dive right in. So the years 2018 Okay, first year I started documented here, and we targeted a specific list that one of the mentors we had at the time said, Hey, try this list. It works. So we did it, and we got this lead from it. We ran into a guy named Lee. He had inherited a home.
dHis father had passed away and inherited a home, and he was desperate. He was in need of cash. He inherited the home. And unfortunately, guys, this was my first experience in my entire life of dealing with someone that was addicted to meth. Okay, never dealt with anyone with like that in that situation. So I didn’t really know how to navigate this situation. I just you’ll hear in the story, but yes, he was addicted to meth, and it was a very interesting story, which I’m gonna lay out with you guys. A lot of challenges, okay? And nothing like dealing with Dawn, where we sat on the couch with her and her husband and we just came to an agreement. This was not like we just went and had a civilized conversation.
This had ups and downs and arguments and threats. It was like walking on a tightrope to negotiate this deal, but we were able to negotiate it. So again, if you want the resources, if you want more information about what I’m going to deliver in this story, make sure to subscribe to the newsletter on Nathan Payne’s wholesaling story time, tales from the trenches. But let’s dive right into this. So we meet with this seller. Super urgent to get money, and you know why? Okay, he needed money, and he was like, I need to sell this house. I need to make money. I need to get my money right now. So at the time, I wasn’t going there to negotiate with the seller. Corey was going with the broker we were working with. So they ended up going to negotiate with Lee multiple times. And I was doing leads management, and they were doing negotiations, acquisitions management.
We were bouncing around roles at that time. But anyway, so they’re negotiating, and I think they had to go like, seven or eight times to to Lee’s house to negotiate, and they ended up finding that he had no money. They we we ended up buying him groceries so we could help him make it until the day that we closed. And during negotiations with Lee, you know, this is interesting, Corey told me this when he got back. He’s like, bro, we were at the his house, and on his kitchen table, he had like, 20 or 30 mailers from other investors in in the area that were interested in buying the house, right? They had sent mailed his house. And Corey was like, Hey, Lee, are you planning on calling these other investors to get their offers? Or what are you doing? He’s like, No, I’m gonna work with you guys. So Corey is like, Okay, do you mind if I take these then? And Lee’s like, Yeah, that’s fine. Take those mailers.
So Corey took all the competition, all the mailers from the competition, and he just took them, I think we just looked at the mail pieces to see what they were saying. But that probably saved us getting the deal versus, like, having a bidding war. But hey, he said it was cool and he was gonna work with he liked working with us, but anyway, we worked with Lee. We got him groceries. We were able to kind of work out a deal, and he owned the house outright. He had inherited the home. There was no mortgage on it. So the deal that we ended up working out with Lee was that we would make him do a creative finance deal where we would make him payments every month. And he liked this because, you know, he didn’t want all the money up front where he would just blow it on, unfortunately, drugs, he was like, just give me enough and all that will keep me from blowing it. So we made them payments every month, and we structured a creative financing where we gave them a little bit of money up front, made them monthly payments, interest free, right? Just beta monthly payments, and we would pay him off once we were done flipping the home so they were able to structure the deal. And what happened was, again, guys, this very beginning, I did not focus on buying, finding buyers.
I focused on, unfortunately, I focused on just finding deals. So when it came time to sell these deals, we didn’t have a lot of buyers, so we reached out to Roger, who bought our first deal, and he was at this point. He was like, you guys, got to pay your dues. I’m not paying what really the deal was worth. He’s like, you guys, I’m not going to pay that much. We had a great deal. The house was worth about half 1,000,004 50. We got it at 215 again, it was not in good shape. It needed. To, like, complete rehab, but Roger or buyer was like, Nah, I’m not paying you guys as much as the houses were, and we had a hard time finding someone again in the time that we needed to. So we ended up wholesaling it to the broker, and we wholesaled to him for $28,000 now, great deal, right?
Everyone. That was the biggest deal we’ve done. At that point. We were stoked, but knowing what I know now, if I would have had buyers, or if I would have known how to flip, I would have definitely kept this deal, because, guys, we ended up wholesaling to the broker, and the broker ended up flipping it and selling it for half a million dollars. So he made probably about 100 150,000 we made about 28 which is fine. I’m not like saying, Hey, I regret that he didn’t make that. He making money good for him, but knowing what I know now, you need good buyers, or you’re gonna lose out big on some deals. Okay, so we ended up wholesaling the deal. But that’s not where the story gets crazy, guys. This is where the story gets crazy.
We wanted to ensure that he’d make it to the title title company to sign when we were buying the house, so we picked him up, and he shows up. He’s an older guy, but he’s got like, a ball cap, a gold chain. He’s looking geed up from the feet up, and he comes with his girlfriend. We pick him to the title company. As we’re driving a title company, he is letting us know the craziest stories experiences I’ve ever heard. You think my stories are interesting. He was letting us know when he was homeless and things that he did with the homeless people for fun. He told us, like, as he was a bouncer, how he would take people out. They were crazy and a little inappropriate as well, but I’m not going to get into that. So we get to the title company, and he signs. We sit at the closing table with him, and he signs, and everything’s fine. And they let him know, hey, the money will be released within 2448 hours. Now he probably didn’t hear the 48 hours part, because the next day, when he did not receive the funds that he was going to get the next day, because apparently, maybe the broker didn’t fund it on time, or whatever happened.
He didn’t get the money next day. He ended up calling me and Corey cussing us out saying he was going to kill us, he was going to find us, he was going to take our lives because he didn’t get the money immediately. Guys, it was crazy. It was a crazy excuse. I’ve never had my life threatened seriously like that before. And the lesson I wanted you guys to learn is when you’re dealing with situations like this, I’ve never dealt with someone that you know has highs and lows from withdrawals and drugs. You have to keep your distance. You got to be careful, because in this situation, I think we got a little too close with him and friendly, where he felt like he could talk to us like that. It was a really interesting experience. But anyway, we were able to get over he was obviously, he got the money. It just got wired to him the next day, like within 48 hours, like two days after close, interesting experience.
Definitely nothing like guys, nothing like what we had experienced with Don, the nice lady with her husband, but look, I wanted to share this experience because you’re going to run into situations where people, you know, when we work in this industry, we want to help people that are in situations that he sell fast, quick. He’s inconvenient, and they can’t sell. Traditionally, you’re going to run into some situations like that, but we handle it the best we could. And what I want to invite all you guys to do is I want to give you a gift of the list that we targeted so we could get this deal done. And if you subscribe to the email, we’re going to give you that exact list. We’re going to show you exactly how to do it and give you a link where you can get access to it for free. Okay, so you can target it, but I just want to let you guys know that you know this, this game, honestly, it’s not fun talking about this guy that’s uh addicted to uh was addicted to method. I hope he’s doing great.
Shout out to him, like prayers, God to him. I hope he’s overcome his addiction. It’s not fun seeing the withdrawals that he went through, how he was really happy when he was high and when he was not high, and going through withdrawals, he almost looked like he was going to die. It was terrible, and I feel terrible that they had to go through this. But hope he’s doing good. And you know, I wish there was more we could do for him. Obviously, that money that he gets from the inherited house like that’s probably not going to solve his issue. He’s probably, you know, hopefully, gone to rehab anyway. I don’t want to talk too much about that, but look, as you go through this journey, you’re going to run into some people, so just do your best to serve them and help them. And you know, the solution that we came up with him, it did help him, because, again, he didn’t get all the money up front. He wanted that, and we’re able to negotiate and work through that deal. Just be careful how close you get when people are running through those highs and lows because you don’t want to get your life threatened.
All right, so I hope you enjoyed this. Today’s episode of wholesaling Story Time with Nathan Payne, tales from the trenches. I want to invite you again to subscribe to the newsletter. We’re giving away the painless offer calculator that cost me 1000s to make and hours to build. I’m going to give that to you for free, along with weekly resources for free. Guys, I want to hook you up. Go get it right now, and we will see you next week, where I talk the hoarder that I moved personally, I moved her stuff, got into u haul, drove two hours away. That’s a crazy story. You’re gonna find out about that next we’ll see on next week’s episode later. Everybody.
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