How to get started wholesaling for newbies with David Dodge – Payneless Wholesaling Podcast

In this video, we’re going to have a special guest, David Dodge. He’s a real estate investor and coach who loves helping people learn how to flip houses and make money using real estate! He will also tell us how to get started wholesaling for newbies. Check this video to know more.

What is going on investor Thrive nation? This is the Payneless Wholesaling podcast I have David dodge on here with me who is the man the myth, the legend. What’s up David?

What’s going on Nathan? How are you brother?

Dude, I’m doing great and everyone that’s listening here that maybe maybe this is your first time listening to Panis wholesaling podcast. This is Nathan Payne. And my goal is to make your journey into real estate investing, wholesaling, whatever you do painless, Alright, I gotta make it painless, because it can be painful, and I can’t take away all your pain, you’re gonna have to go through some growth. That’s why I bring on experts like David to hear to learn from so we’re gonna dive into what David’s about how he’s done hundreds and hundreds wasn’t like 700 deals.

So far. David has 700 wholesale specifically to Underberg about 1000 transactions in the last eight years.

Well, you better slow down did. So we’re gonna dive right into, you know, what David’s about how he got started, how he’s doing so many deals. Let’s go right into it. So, David, kind of tell me man, like, tell us in 30 seconds, just a quick overview of who you are.

And then we’ll dive into your story.

Yeah, man, no worries. So I started investing in real estate at the age of 20. I’m 38. So I was 18 years ago, and for the first 10 years, I was doing it the wrong way I was doing it the slow way, I was finding properties at full retail on the MLS, I was buying those properties, via you know, agents, I was going to the bank and getting the 80% loan which required me to have 20% out of pocket. So as either bar when that 20% or saving that 20% Or a combination of both house hacking in the beginning and then just doing rentals. And basically over the first 10 years all through my 20s I was buying about a house a year. And at the end of that 10 year period, when I got to the age of 30, I think I had 12 rentals. So I got lucky two years out of 10 by two copper instead of one, let’s go just slow. It was good. I mean, I’m not I’m not upset about that happy, happy that I did that. You know, it’s a lot of wealth and a lot of equity. But it was just slow. About eight years ago, at the age of 30. I decide, hey, I’m gonna do this full time I learned about wholesaling. And I just started wholesaling for the next couple of years. I just was wholesaling, you know, exclusively. And then probably about four, maybe five years ago, as you know, early 30s. And I was like, You know what I kind of lost track of the buying and holding and landlording, which I had done for 10 previous years, right? I kind of circled back and I’m like, Alright, I now have this new skill set of marketing to sellers and running appointments and making offers and following up and built out systems and you know, had built a team. And I was like, This is great, because I had essentially set myself up for lots of deal flow and high volume of deals. And essentially what I did bout let’s go with four years. I don’t know the exact date here. But let’s go four years ago, I just said hey, you know, I’m going to change the model a little bit, I’m still going to Market, I’m still going to do some wholesaling. But instead of wholesaling every single deal, I’m going to change it and I’m going to do what we like to refer to as keep the best and wholesale the rest. So I just made a small pivot. And over the last four or five years, I’ve bought and rehabbed and rented and refinanced over 200 properties. I’ve done the verb method over 200 times, I’ve written a book on the burr method, it’s available on Amazon and audible. It’s literally called the burr method. Pretty straightforward.

Does that have that same title?

I was about to say that’s a good title. And I’m surprised no one took it.

But you’re saying some people did. But you know, there’s been people, you know,

I didn’t create the burr method. I didn’t invent it. I’m not the founder of it. It’s just an acronym. Yeah. But my book is like 370 pages. It’s really, really deep dives into all the pros and the cons and the mistakes that I made and the ways to do it right and not do it wrong. And we break it all down. But yeah, for the most part, you know, over the last couple years, I’d say eight I’ve been a full time real estate investor, hundreds and hundreds wholesales probably 700 Plus wholesales 200 Plus burgers, I just got my real estate license like last month, I operated without it for 18 years. So you don’t need it. The only reason I got it is just to essentially help friends and family you know, with real estate transactions on the retail side of the business. But I’m not an agent like in terms of like, you know, I am an agent let’s not go let’s not say I’m not I am but I’m not operating day to day I’m not promoting or marketing myself as being you know, an agent. I’m an investor, I just have that tool in my belt. So at this point, I love doing podcasts. I love helping I love giving back. I love teaching people how easy it is to get started. I built out a free community online that teaches people how to get started. It has free courses. And what was it called was called real estate school. That’s a great name to eat that bro real estate school, but the URL is our E ISKOL.

So it’s school spelled the way because the other one was probably like what, like a million dollars. What’s up the other one must have been like pretty expensive,

because yeah, I couldn’t get my hands on that one, you know, but it’s actually hosted on a platform called school. SK Oh, that makes it easy. Yep. And then and then I’m just a group within that platform but we’ve only had the group live for I think Five weeks, and we already have over 600 members in the group. It’s free to join right now at some point we may start charging. But right now it’s free. I plan on keeping it free for a little while. It’s got free courses on wholesaling free courses on landlording free courses on private money lending and how to get private money free courses on data, how to run comps, how to make offers. It’s all there. Everything’s free right now. It’s phenomenal.

o let me ask you about school because that’s kind of newer to me is that is were you doing something on a different platform before you transition?

Yeah, it was me and I’ve been I’ve been coaching people for about five years. I think I’ve helped over 60 maybe close to 70 people get their first deal at this point. So I love helping Oh, bro. Yeah, man, I love helping people love coaching love mentor. And I’m just like, you know, what, how do I how do I reach more people and help help more people essentially, right?

What were you on before?

multiple platforms think if it Kajabi? My own WordPress website, all these different slash?

Do you like Kajabi? I did not. I didn’t like Kajabi.

You know, it’s got pros and cons. You know, all of them do all of them do. But this new platform, our So our real estate school is better. It’s got it all in one, it’s seven. But check that out, that’s got a community, it’s got a calendar with free trainings, I’ll be do two or three free trainings a week. There’s free courses in there. There’s a community of course, where members can collaborate and joint venture with each other and, you know, market their deals. And it’s just awesome. There’s a leaderboard in there. So it kind of tracks you know who’s engaged in and one of the things I like about it the most Nathan is it rewards those who are there to engage, right? If somebody wants to just come and take a free course, that’s great, we got no problem with that. But there’s five or six courses that I’m going to be adding more and more as time goes on. And I only give away two for free right out the gate, all of its free right now. But in order to access third and the fourth and the fifth course, you got to engage a little bit and as you engage, you get points. And as you get points that unlock stuff. So it’s really built to get people in there and to actually engage. And that’s really what makes groups powerful and strong. It’s not just having big, you know, having a group of 10,000 people for example, in a Facebook group sounds cool. People are gonna watch your watch a video or go take a course or, or engage that’s a group is worthless. It’s worthless. Yeah. So So I’ve just always been to really get great bring people together and joint venture into collaborate.

So yeah, man, I’ve done a ton of deals through collaboration. It’s huge. It’s a great way to get deals. So I have to check that out. Because I use discord right now for my community and in I’ve tried to do whatever I can to get them to engage. And same with the Facebook groups. I have a big Facebook group I just asked as someone that has 170,000 168,000 people in his Facebook group just reached out to me it was like, Hey, can you help me? You know, get this community rolling? And I’m like, sure, but you’re right like the size doesn’t matter.

It’s about to go broke. Check it out. I’ve been I’ve done discord. I’ve done slack. I’ve done Facebook, I’ve done Thinkific I’ve done Kajabi I’ve even been on some other platforms outside of all those and none of them hold a candle to school. It’s it’s so easy to use. There’s a mobile app, it’s got a calendar, it’s got courses, it’s got the community, there’s a leaderboard, like I was saying it forces engagement. And it actually you know, rewards people for the engagement. That’s that’s what you need. That’s what you want. So I would highly recommend it.

Wow, did you just you’re helping me out. You’re helping the podcast, Payneless podcast nation over here trying to make your life Payneless to Nathan, dude, you really are because discord really is I think it’s cool the way you can separate everything and like different categories and have different channels because people don’t want to talk within slack slack. It’s similar to slack. Yeah, is school the kind of the same where you can have different channels, depending on what you want to talk about.

Um, yes, you could have different categories. So your categories, you’re still gonna have a, you’re still gonna have a feed, like any social media would, and you just have different categories, and you can search those categories. But what I like about it is it’s not so much chat, it’s more about posts. And again, that’s what makes it fun, because you can get points for getting likes and comments. And, you know, just chatting is one thing, right? But being able to engage and dive deep on certain topics. So yes, it does have you know, the ability to separate out you know, deals versus questions versus free trainings, or call replays or gold content or, you know, whatever the category you want.

I freaking love it.

Everybody that’s listening, go check out is our E

it. It’s called real estate school. That’s just the URL that gets you there quickly.

Friggin dope. So let’s let’s dive into newbies. everybody that’s listening here it was it is a newbie or was once a newbie. How do you suggest a newbie goes in get started, brother. What’s what’s Yeah,

I love it, man. So you know, here’s the thing. I was a newbie once I trained tons of newbies. Like I said, I’ve helped 60 Maybe even 70 people get their first deal at this point, right. And most people, including myself, when I’ve started, we get analysis paralysis. We think we need to know everything. We want to go study something we want to go read 10 books, we want to go join five groups and five masterminds and go on this retreat and do this and do that and here’s the thing, you don’t need to know it all. That’s the secret it. In fact, the more you try to learn, the harder it’s going to be. I know that sounds counterintuitive, but what you need to know is is that you only need to focus on the next step, you don’t need all of the steps you don’t need at all, what you need to do is you need to focus on step number one. And here’s the deal, guys and girls. Step number one is marketing. And guess what marketing is just a fancy word for getting people on the phone. So you either spend money to get your phone to ring, or you spend time ringing other people’s phones, that’s it, that’s the business. It’s the whole, that’s the whole thing.

So that’s step one. So don’t even worry about step two or step three or more about the contract yet,

Bro, are you sure?

Absolutely get people on the phone, because people are gonna get the contract. And they’re gonna say, Well, this guy’s got a contract, and this guy’s got a contract. And they’re not gonna know which contract to use. And they’re gonna spend five days or five weeks trying to make their own contract from pieces from their contract. Listen, guys, I give away all of it for free. All of it inside real estate, school free contracts, free joint venture agreements, free assignments, it’s all free. It’s all out there already. Right? If you don’t want to use my contracts, then go use somebody else’s. But no, I would happily sit here today. And I’m not arguing by any means. But I would say no, knowing what contract to use is not part of step one. Part of step one is getting people on the phone that own a home, asking if they have any interest in selling, figuring out what motivations or problems they have, and then going to helping them solve those problems. And then if you can make an offer or they are interested in selling, then let’s go to step two. But don’t worry about step two until you’ve gotten step one down, or you are actively doing step one, if you don’t have any leads, you don’t have a business, Nathan, you know this. That’s true, brother, I don’t care what business you’re in, you could be a dentist. If you ain’t got no buddies teeth to fix, you ain’t got no business, bro, you got to have leads. And that’s what marketing is. It’s getting people on the phone in some way, shape or form that own a property that have interest in selling that property, the more motivation they have, the better for you and I as the investor or the wholesaler, but you got people on the phone 100 percents a day,

Let me ask you this is for people that are in analysis paralysis, and they’re like, Okay, David just made it super easy. So I just need to call somebody call somebody. What happens when you’re coaching these people, and they want to do everything but call somebody? How do you help them because that’s, that’s kind of where I’m at to it’s like, I tell people to go establish relationships with buyers. So they have like someone that they can reach out to is like another mentor, and can tell them what to pay. And but yeah, either way, they get again, the great approach.

But I think that I think that needs to be happening all the time in the background. It’s not like if I’m just gonna sit down with somebody right now, like new person walked in, and they work at a restaurant, and they don’t know the first thing about real estate never even bought a house. They’re like Dave, I’m ready to get started. I’m gonna say, All right, cool. Don’t read any books. Don’t take any courses. Let’s pick up the phone and start calling for sale by owners, or people that have properties listed on Craigslist, Facebook marketplace, Zillow, for sale by owner or for rent wires, just call them and say, Hey, do you have interest in selling this? If so great. What are you asking? And then start making offers to people start setting appointments with people, you can learn everything in the evening, in over the weekend. Next week, we can always There’s always time to learn step two. But guys, step one is the most important part. It’s leads, it’s getting people on the phone. And if you don’t have any leads, you don’t have any business. So it’s all about starting. And when people come to me and they say, Dave, I get this all the time, Dave, I’ve been I’ve been you know, doing this part time for six months. And I say, Oh, great. What are your numbers? And they say, Well, what do you mean? And I say, Well, how many sellers have you talked to this week? Have you made any offers this month? And they’re like, No, not yet. I’m not there yet. And I’m like, Well, you’re not doing anything you have you’ve done zero, you have not taken any step towards that first deal. You’re in analysis, paralysis land, trying to learn step nine. And guess what, you can’t go from step one to step nine. It doesn’t work that way. Get people on the phone and make friends find problems and then go solve them. And then come in, in real estate school, we basically are offering mentorships and coaching, right? It’s indirect, but it’s in there. And it’s like, Hey, I got this seller appointment. What do I do now? You’re gonna have 20 people comment. Great. Have you determined the comps, have you? If you got the repairs, you need help drop a link with photos, we will help you it’s there. So don’t worry about step two. Don’t worry about step nine guys. Step one, start making calls or start spending money via mailers or ads online or radio or billboards or bandit signs or park benches or just go to networking events, right. One of the things that I tell everybody that I work with everybody, no matter what is that you can’t keep your business a secret. And I know it sounds dumb. It’s like oh, duh. But I can’t tell you how many people I work with that have said they’ve been doing this business for two months or five months or a year in some cases. And they’ve never made a single Facebook post saying, hey, you know anybody that needs to sell a house, they’re keeping their business a secret, guys, you can’t keep your business a secret. When’s the last time you drove by any business? And they didn’t have signage up? That’s right. Nobody does that. You got to tell everybody you know.

So hypothetically speaking, you need to be shouting from the rooftops what business you’re in it even if you even if you? Will you feel like you suck, right? Nobody sucks. They’re starting. Everybody has to start somewhere. But I feel like a lot of people don’t shout because they don’t feel like they’re worthy yet right? Or they’re, they’re ready or they don’t know,

They’re not worthy. They’re not ready. They don’t know how to do this guys are the limiting beliefs right in the field. Yeah, absolutely.

That’s, that’s very interesting brother. So I coach you coach, and a lot of times is people are looking for everything. But to get on that that first step right there. Everything why?

Why wouldn’t they? Let’s let’s talk about this for a second. Nathan, the hardest thing for most people to do is to make the first phone call, it’s so much easier to say, You know what, I think today, I’m gonna get a business card. And tomorrow, they say I’m going to work on my logo. And then they say, oh, you know what, it’d be kind of cool to have a website. And all they’re doing is kicking step one down the road, bro. That’s it. So you know, business cards might be necessary. A logo, probably not necessary, but it’s cool to have. Same with the website. I did 30 deals before I had a website, I probably did five or six before I even had a business card. You know, you don’t need these things. What you need is leads and all these other things can be helpful. They can build credibility. They can help showcase your, your you know, you and your business and your credibility, your testimonials and all that good stuff. But it’s not necessary. It’s not step one, guys. Step one is talking to people that have problems that own houses, so we can come in and solve these problems for them. That’s step one. So the free mentor session is this podcast right here. Stop picking up more books and stop going to YouTube and stop going to these places to try to learn more. You know enough. Yeah, this what are we been on this for? 17 minutes, you know enough in the last 17 minutes to get started?

I promise you a year right, bro?

Like, really? If you you take a look at the people that have been in analysis paralysis in you say how many calls have you made? They probably narrow it down to like, less than 10?

A dozen. I made calls and you’ve been at this for six months? Guys. I made a dozen calls before 8am. Today? Come on. Yeah, right.

So well, hey, so let me ask you this. So how long have you been coaching for five and a half years? Five and a half? To six actually has your approach to coaching always been this direct? Where you’re just like make a call? Or did that take time to be like okay, this is really find it over the years?

Absolutely, absolutely. But I just know now, you know I have I have a lot of students that can get a deal. Usually within about six to eight weeks. Not every student but most of them worse. And the reason is, is because I tell them, hey, if you want to kick this can down the road for six or eight weeks, that’s fine. Let me know when you’re ready to take step one. And that’s when I’m ready to start helping you but I don’t want to work with people that aren’t ready to take that first step. I literally turn people away all day because they’re like, oh, Dave, I gotta go do this, I gotta go to this retreat. I gotta go read this book. And it’s like, cool. When you’re ready to quit doing all that bullshit, pardon my language, and you’re ready to actually do deals. Step one is step one, you can’t go around it, you got to start there. So when you’re ready to start showing me your numbers, how many calls, how many texts, how many mailers you know, whatever it may be? How many bandit signs, how much time? Or how much money have you spent on your marketing business? Because that’s really what business we’re in, then I’m more than happy to help people. But I turn people away more than I actually bring them on because they’re not ready. Well, I think a lot of people that aren’t ready, I’m happy to help. But you got to be ready to do step one. And if you want to think okay, I can, I’m not gonna I don’t have any reason to work with you.

I just think a lot of people think this business is like something that they can just sit back and relax and just like, Okay, this is like my kid what

it is they can be, here’s the thing, it can be right. When you want to scale meaning hire acquisitions, folks, right? They want that they want that lifestyle immediately. They want that they want that day one. And that’s you know what I tell people straight up if that’s what you want, go find somebody that’s gonna sell you that dream and take your money. I’m not that guy. I don’t want to take your money. And have you hired me and pay me as a coach to lie to you. I’m not gonna lie to you. And hopefully anybody watching this live tonight, tomorrow next month, 2027 doesn’t matter. This is who I am guys. I want to help. But I want to help people that want my help. Not just people that want to pay and then hope and pray. I don’t I’m not interested in that. I’m not interested in hoping I’ll get you results. But you got to you got to be able to put in the work.

And Nothing’s worse than that. You know, and that’s just inevitable. Sometimes people just they feel like paying sometimes. Is there them taking that first?

Action? No, I get though, you know, yes, I agree. 100% Nathan, you know, it has taken action in a way because it’s showing that you’re serious, but then prove it. That’s kind of where we’re at now. Right? Prove it. Right. So it’s not hard. You know, we use simple, simple, simple scorecards with our students. Here’s the scorecard. And basically, if we go a week without talking and they’re like, Hey, I got a question about this. I’m happy to answer that question. But typically, I’m saying show me your scorecard. And if you don’t have any, any calls or any marketing, we’re not even going to talk about your question. It’s not relevant All right, and I’m not gonna be rude of course but firms a difference right? I’m gonna be firm who gives a shit about assignment contract to us you’re not on Step six. Yes sir. Go back to step one. So you can tell I’m very passionate.

You know you’ve been coaching years you’ve been you’ve been coaching for a while you you’ve seen what the excuses are and you’ve seen what was required to succeed and you’re saying you’re just preaching it bro from the rooftops?

Let’s go screaming from the rooftops man. You can’t keep it a secret. You gotta you gotta get it out there.

David, you’ve been you’ve been more than gracious enough with your time to paint the investors, Dr. Nation here. Appreciate you. Where can we find you? I know you’ve already said it. But just realizing school

baby, go Google it. And you can Google it. sch O L or S K O L either spelling will find me on there. I’m on there. That’s my preferred method of communication. It’s free to join right now. We’re gonna start charging down the road at some point. But anybody that joins before we start charging might not for another 567 weeks, to be honest. But anybody that joins in the meantime, it gets free access to life. You can make posts and tag people in there. You can send DMS in there. There’s free courses, there’s a community, it’s got everything. It’s it’s basically the product that I’ve been looking for for five and a half, six years. And I just found it myself about three months ago, and I used it for so long. It’s phenomenal.

I’m literally looking at it right now. We got Steven Townes. Plus 206.

You know, he’s Steven is my he’s one of my, one of my, you know, most active guys in there.

That’s right, Robert, we got Kim Harris. Number four, I love it man is giving people giving people recognition for taking action. That’s what’s important.

So hey, David shows how many people are online? Like right now? There’s eight, which is cool. Yeah. But sometimes there’s 30 or 40 people online, and we only we’re only at 600. And I’m gonna I’m gonna make this group 100,000. No problem. You know, it’s, it’s one of my goals.

So well, let’s get it. And that’s a great, great name. So I wonder if you get organic traffic there just from people searching, you know,

the group was private until two days ago, not not not meaning charge, just private. And I just opened it up to public literally two days ago. And it just finally got Google index this morning. So I imagine we’ll start seeing some pretty massive growth over the next couple of weeks. We’ve been running ads, I’m running ads. I’m paying money. Let’s go to a free group. That’s how much I love helping people.

What’s your coaching business? Is it also Rei school? Or was this just the name that you found for

The coaching business is called discount property investor? Because that’s what we do. We buy properties at discounts.

Don’t Don’t get it twisted people. We don’t buy it at full price.

But real estate school is where I want to push everybody. It’s free right now. It’s awesome. There’s so much value in there. I mean, it’s we’re constantly, I’m doing two or three free trainings a week right now. And all the calls are recorded and archived. There’s a call library. It’s awesome. Yeah, of course, there’s a mastermind and an upsell. But that’s not why I’m here today.

Now. I want to get in there. Why wouldn’t there be any right? It sounds like you got a lot of value. So yeah, honestly, I want to check it out. Because this court, when people go in there, they’re freaking lost.

They sign up. It’s free. You’ll you’ll be he’ll have access in 10 minutes or less.

My brother, David dodge, everybody. Thank you for coming on and reach out. And if you don’t go to real estate school, I don’t know why you wouldn’t.

I don’t know what else to tell you.

Nothing else to say and then go right now. All right. Everybody has an excellent piece out Dave. I appreciate your time, brother.

Likewise, man. Thank you


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