Henry’s First Wholesale Deal with No Marketing Costs!

You want to get a deal, but you’re not exactly sure how to get it done. And you’re questioning yourself saying, man, maybe I don’t have what it takes. I want to show you and introduce you to Henry. This is a student that I’ve been working with. And we just got our first deal. But actually, he got his first deal. And we got it done together because we work together, check out his experience, how he got started, and how from being from Vietnam, he didn’t let obviously not knowing the language not being perfect and having the best American accent stop him. He took action and check out how Henry got his first deal using the methods I showed him where he didn’t spend any money to get the deal. Watch right here. What is up everybody you are listening to the painless wholesaling podcast right here. I have one of my ultimate favorite guests. We got Henry on here. Henry is one of my students, he just got his first wholesale deal.

So we’re gonna dive deep into Henry’s life, why he decided to get into real estate, what His strategy was to get this deal done. And we’re gonna dive all into it. So everybody that’s listening can learn from Henry’s experience and how he got his first deal with only being involved in real estate just for a little bit. So Henry, what is up, dude?
What’s up? Nitin? Thank you for having me in the podcast.
Dude, I am so happy that you’re on this podcast for the man because when you when we started working together, I knew you were gonna get a deal, bro. I just knew it. Because I said, this dude ain’t gonna give up. He’s gonna work hard. And that’s exactly what you do, man. Is that Is that something that you’ve always done your whole life. You’re just you go for something that you want. And you work really hard at it. Yeah.

So I just go for it. So. So when I watched your theater, thinking about that, and then not taking the action at all, so right now, and just go straight in? Take action. That’s it. I love it, man. What do you got to say, for all the people out there that kind of find a little scary to take action. They’ve been watching videos, and they just haven’t done anything. Because maybe it’s difficult.
So to be honest with you, right? So don’t be don’t be afraid to take action. You can be fail. Sometimes you can fail a lot. But the outcome is you you know that you try your best. And then the good thing will come to you.
Awesome. dang good advice. That’s awesome. So because you know you’re gonna fail, Henry, I fail all the time, man. When I make offers. I don’t get every offer accepted. Not even close. I wish Yeah. So I also get a lot of rejection on my offer, too. Is
Does that bother you when you get rejected? Now? Henry, are you have you developed that that tough skin already? And you’re like, wow, who cares?

Yeah. So so the first time I’m trying to wholesale lean right. And as of my offer got rejected, so I’m kind of a gear Friday, but I know like I keep making a lot of offer, then no one will be accepted. 100%. So Henry, let’s let’s dive into your life and where you’re from, because we’ve talked a little bit, but I’ve never really asked you too much about like your history and how you got started. So Henry, tell the audience a little bit about yourself, like where you’re from, you know what you’re up to? Yeah. Let everybody know a little bit about Henry.

So so I’m, I’m from Vietnam, and then I’ve been here in the US for 2010. And then I’ve been in Houston for more than 10 years. So this in my hometown, Henry, what made you want to come to the United States? So if you lived in Vietnam, alright.
My family so they are David. They’ve been in the US and then my friend Paul. They, they bring them? My family here.
Wow. Okay, so you had family here. So that’s why you decided to move right? Yep. Was it a was it a difficult move for you to make to move from Vietnam to United States? Oh, so they say a new adventure of me. Yeah. To be in the newer country. new opportunity.
That’s amazing. Do you miss Vietnam at all? Do you go back and visit my uncle? And then my honor, they have been combat to Vietnam and then I haven’t back in Vietnam yet. But that’s my goal. In the future. I will be back in Vietnam.

Oh, you want to go back? Okay. That’s amazing. I know we I asked you this before but let’s tell the audience again. So Henry, why did you want to get into real estate? You know, you came from Vietnam. Now you’re in United States. You’ve been here for a couple years what what made you want to get into real estate? So my uncle had been invested in real estate for long term and then he really successful with that and then he now become a law so I’m proud to follow him with his success. And he’s an investor you’re saying is he in Houston? Or where does he have his rentals? Yeah, so he he investor in Houston also. Okay, awesome. And you ask him for a lot of advice. Do you talk to him a lot about real estate? Ah, yes. So he he really busy so so here he he doesn’t give me any most of the FYI. So basically, I try to learn everything for myself. Okay, and tell me how you got into wholesaling. I know again, I asked you this before but how did you come into wholesaling versus just doing another strategy.

So I’m Marissa on a Google how to invest in real estate with no money at all, and then have the first thing pop up on Google ear wholesaling. And then after that, I’m watching a YouTube channel from Jerry Norton page Moby and then another big guy in wholesaling. I decided I will give it a try, then you just start you just gave it a try just like that, huh? Yep, that’s amazing. What was your first experience? Like? What What were you doing at first to try wholesaling? What were you doing first? My first try on wholesaling the basically like, do I do exactly the same thing that the YouTuber that I tell everyone? So like, pulling a list of off market property, and then skip Cray, and then a cold call and then make offer?

And did it work for you? Does that work for you? Not at all. Yeah. So this is my first mistake. Right? Yeah.
Well, tell me about tell us tell this audience about your experience doing that of pulling lists, skip tracing, calling it how did it go? So
it’s got a lot of money for me to be to be due in there. So I hope I tried to host here for more than half a years and then it gets a no no result at all. So I’m so how are we up? And then I guess a day Alpha? Is it really working? Yeah. So you’re starting to doubt because you skip trace you called list and it wasn’t working. You spent a lot of money? Is that what you’re saying? That’s right, you know, and Henry, what I teach is I say, hey, look, if you’re brand new to wholesaling, don’t go out and spend a ton of money on marketing. There’s so many opportunities that are on the MLS that are from other wholesalers, if you can get in tight with buyers and you know your market, you know your area, you can find deals without spending any money. And that’s exactly what we did on the deal that your first wholesale deal, right? That’s right. So so tell everybody that’s watching how you got your how you found this opportunity on this deal that we were able to wholesale together.

So a lot of time I’m on Facebook, right? I’m in the real estate investment group. And then the one lady CSEC boasted that I see a car tire of the do in the Airbnb rental, and then will decide to sell off her property and then say looking for a realtor. And so I desire I text her that I cannot sell sell her property at her asking price without a router so she doesn’t have to pay in the commission at all. And then she told me Araya I will let you do that. Wow. Wow. Yeah. So Henry, if I understand you went on Facebook groups that were strictly for real estate investors and the seller will post it on there that she was looking for an agent is that correct? That’s right. And you said hey, I can work with you where you don’t have to pay any Commission’s and that’s what happened Correct? Yep. What happened after that? So you texted her and she said yes, that’s fine. So what what was the next step? What did you do so so the next step, she sent me, her property address is on the way in Florida and then I decided I had no experience of wholesaler outside of Houston.

So I reached out to you with a turn and then asked that you can JV with me on this deal. And then we we wholesale outlay
There we go, just Bada bing bada boom right just like that. So you found this lead on Facebook without having to spend any money and then you you found out that she was willing to sell for cash and then you use gave it to me and then I called her and then I started negotiating is that kind of the gist of the story your data and then you you call her and then you negotiate everything live on a stream here and then I was in in that too in that life to listen to everything. What did you learn from that? That conversation I had with her so
let’s see asking for the retail price. And then so so there is no way for her to offer her gas offer below the ARV. So do so you use social media or whatnot events why? What is this? creative financing?

Yeah, creative finance, and then with little now with little down payment. Yeah, that’s exactly right. So so everybody that’s watching so what happened is I called the seller that Henry brought me and she had some motivation. There was motivation that she wanted to sell she had multiple properties in Florida. She’s from California, and she just wanted to get rid of it. She wanted retail like close to retail. And I told her like, hey, the only way we’re able to buy this property for you know close to what you’re asking is if we buy it on terms, if you can give me the terms I can give you the price. That’s basically what I said and she said she was okay with that. Now, the thing when you make cash offers is they have to be really, really low because you have to have your your holding cost your hard money costs, all the fees of the flipper, that he’s going to put the rehab, make his profit and then resell it. You have to get it down very low. This property was an air VMB already fixed up already was cash flowing pretty good for her she just didn’t want it anymore so I said hey the only way we can do this if we come into this deal we can take over your payments and then we can pay you their price and a balloon payment out in a couple years from now but I can’t bring any money to the deal because it’s just not going to work and she said that was okay that Henry I’ve been doing this for a long time not a lot of people are usually open to zero down that I’ve experienced but she was and it’s because she just didn’t want the headache of the deal anymore.

She just didn’t want it so a very interesting situation like I said, I wasn’t didn’t think she was going to accept that but that’s why you just have to get on the phone and ask people questions and see what’s the best option for them you know, I’m saying so Henry, what advice would you give everybody that’s you know, on the painless wholesaling podcast is gonna listen to this or that’s watching this live or will watch it What advice would you give to them about getting started in real estate just like you have Alright,
so So my first FYI that that doesn’t make a mistake like me. Yeah, just uh, you don’t have to spend a lot of money to pull the list and then cold call in a market then is is really caused a lot of money and they just just fire a freeway to do that and then stick with that and then you definitely definitely will get your first deal by me.

That’s right, bro. And you got said we JV need on this deal. So I got to close I sold it to the buyer and we wholesaled it for $5,000 And then I got a little bit of ownership in the property and mean you just split the wholesale fee now obviously there’s a lot bigger deals but for us I mean I’m glad that he got it done you got did you get the money sent? I sent it to you did you get it? Yes I am. How’s that feel bro? How’s it feel to have you know gets get your first check from wholesaling a deal. It feel wonderful. Yes. So I shut down. At that time. I know I can wholesale again and again, roll.

Let’s do it again and again. And the key Henry, I’m just telling you, the key is finding opportunities and motivation. You just have to find someone wants to sell and is open to a cash offer. And they’re open to if not like a lower cash offer open to terms. That’s it. You’re just looking for ways that you can help people because if you call someone like me and say, Hey, can I buy your house I’ll give you cash offer. I’m not motivated. There’s no reason for me to sell my house at a discount. But if someone has a situation whether it’s a rental they need to fix the property or anything. You just have to find those opportunities right. If you liked that video, give that thumbs up for Henry show in the comments that you’re proud of Henry for taking action, and we’ll see you on the next video.


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