Majan landing a $40,000 deal on your very first wholesale deal sounds like a dream. Well for one of our investors, Dr. Members, it’s a dream turned into a reality. Today we’re going to be breaking down this remarkable story, every strategy, every hurdle, every triumph. What’s up, everybody, welcome to another special episode on investor thrive. So today we’re going to be exploring the step by step journey of this incredible first deal.
Also key strategies that made such a high profit possible and all the lessons learned from Nick that did the deal. So before we dive into this call, I want to ask you to subscribe to the channel because it would mean a ton to me. So let’s dive right into this call. And let’s figure out how Nick made $40,000 On his first deal, and how you can too, by taking what Nick did, and applying it to your real estate journey, let’s talk about this deal. You’re taking action. I know you’re calling agents, you were you’re calling to find buyers, like I was showing you tell me how this this deal happen.
So this deal actually happened just through word of mouth. I had friends at home, who knew what I was doing. They knew kind of that I was investing in real estate and helping a lot of people thought I was flipping at the start. But then they realized, you know, I’m doing this new thing called wholesaling.
And a lot of people don’t know what that is really not a lot of professionals in real estate who’ve been in it for 20 years plus don’t even know what it is. I mean, I usually have to explain it to someone new, at least once a week. So this deal actually came across an old friend of mine, he pretty much reached out to me was like, Hey, Nick, listen, my mom, she has dementia now. She’s going to a assisted living facility, and I need help with the house big house. It’s what he grew up in. I was like, Okay, I’ll see what I can do. And he’s like, I don’t have time. He’s a police officer.
He’s very busy. And I said, Okay, I can, I can definitely help you out and get the ball rolling. And hopefully we can work together. So he he didn’t want to list I told him to I was like, listen, listening is going to be a lot more process, you’re not going to sell as fast as you want to unless you you know, maybe consider going down my path. Right What I’m about to tell you. So he was all open for it. So all of them, because a lot of people are like, whoa, you know, are you sure you want to other people are like, you know, should you tell them? Should you not? I always tell them? Yeah, let’s do it, because you’re gonna make the most Yeah, he did the same thing.
Great job. Yeah. And if it wasn’t for the fact that he’s busy, he needs to he needs to sell he needs to help take care of his mom, then he probably would have ended up listing it. But circumstances, you know, wholesaling, we want to reach out to motivated people, people who need to sell fast and easy.
That’s the the big thing. And he was one of them who were connected all the I mean, match all the points to it. And he needed to sell. So I told him, you know, listen to this is what I can do for you. And hopefully we can get you out of the situation. So at that point, I went straight into analyzing the deal. got pictures of the house, actually, I actually my parents live right down the street, and I had my dad gonna take pictures of the house for me and you go, there you go. Daddy Oh, came in clutch for that. Then at that point, there was a this is a fairly suburban neighborhood.
Very, very nice neighborhood. I mean, I grew up in it, and people were starting to move out. So there were some pretty juicy cops in that area that were old in the last six months. So I had I had some good numbers to work with isn’t it wasn’t one of those things where I had to dive deep into finding a good comparable for it like I didn’t have to do really anything to calculate their B. Okay, so then once I calculated that it came out to close, I was calculating around 650. And then I caught an agent who actually sold two properties there this year in that same development.
And I told him, I said, Hey, I got this property and get it put under contract with Warner, if you could do your own due diligence on it, run by it, and we can work together maybe maybe whoever I assign it to will flip it with you. I’ll recommend you to connecting all great job, networking skills on point, right. And then he’s like, Yeah, sure, no problem.
So he did his due diligence, and he came back to me and he’s like, Hey, man, this this property is worth. I mean, if it’s fixed up 740 Wow. So my numbers are a little off but in a good way. I mean, he told me now this is this is how much it’s worth and it was a good neighborhood. The house was taken care of a probably only needed Max 40,000 and repairs, basic cosmetics, flooring. Maybe?
Yeah, just a basic update. See if it were me and I was there. I want to try to flip it myself. Of course, maybe wholesale it or something like that. But that’s not that’s not the case. I’m in Myrtle Beach. So that’s not happening. Yeah. So at that point,
I use your lovely contract had that showed out sensitive over to easy, right? Easy. Yeah, simple. Yeah. We agreed on a price. We agreed. He wanted to get around 500 for it, negotiated down to four. So
Only five. So that was our that was our price that was a bull’s eye. And then that you were negotiating, did you already kind of have an idea of a buyer in place? Or were you so before in, I was definitely doing your method, I was reaching out to buyers I have in that area, having them look at it and see if they’d be interested in and there was a ton of interest. I mean, I had about five plus buyers that were very interested in it.
And that wasn’t even posted at all. I didn’t even post it on Facebook or anything. Like I mean, I can’t imagine how many more interests I would have gotten if I posted some groups on Facebook and whatnot. And so from that point, I had some buyers go walk through, you know, had two or three buyers walk through it. And they all they all wanted it. I had three that wanted it. And two of them were they offered me around 585 for it. And then I had that one come in at 515 offer 515 for it. And pretty much he said he’s gonna live in it. He’s gonna end up living in the house.
So you had someone Wow, you have 245 And then you had one and 515 so that that what is that like? 2030? Way more than the other? Yeah, just about and I had a couple people come in only offer in 480. So I don’t need 5k. So I’m it which is fine. I mean, yeah. 40 versus five, come on. That’s amazing. Yeah. And then at that point, I was like, Okay, now I got something. So I ended up sending in the contract to a title company got it under contract, we did 14 day due diligence, which was just fine.
And we’re closing right, like two weeks after. Great job. And so how did you find that ultimate buyer that paid? The you assigned it to? I actually found him through a mutual friend who was also an agent in that area. He’s got a lot of connections in that area as well. So he he helped out with bringing that buyer in, did he get a commission as well? Or did he just say I paid him a commission? Cool. Cool. So such a good buyer.
Why not? Right? Yeah, yeah, I mean, he did it. I mean, he handled, bringing the buyer to the property, walking through with them, finding out what they want. And then it worked out. It was supposed to be a cash purchase. So I actually he wanted to finance a little bit of the deal. So you know, I went, I use my chat GBT and ask them, what you know what I should do? And then based off your coaching and your training sessions, I had an addendum signed, and then I had some terms, you know, purchase with the option to finance. Okay, got that sign and then sent in.
So it all it all went really smooth. I mean, it could have there could have been a lot of hiccups in it. Yeah. But did he end up getting a normal loan on it? Or did he do can he put a majority of it cash down? Okay. And then he got funding for a small amount of it. Hmm. Interesting. So yeah, it was just And then he’s planning on living in it for now. And flipping it? Well, those are your best buyers, the ones that are willing to live in there while they fix it. They pay top dollar as you can see what the other guys that came in lower, it’s about finding the best buyer, right?
Because you just explained this, the majority of people came in at 494 85. So you’re making like a 10k 15k. But then through your networking skills through reaching out to people in your sphere, you’re able to find someone that would that paid instead of getting 10 or 15k wholesale fee, which is good. You made 40 Because you weren’t you were really resourceful. Amazing, right? Yeah, that’s where it’s, it’s all talking to people too. I mean, if you can just pick up that phone and dial. I mean, the amount of people I’ve, I’ve met through just talking and you know, meeting up with them, it’s actually insane.
And yeah, I know, it’s gonna help me out in the long run. Yeah, for sure. And the cool thing about this is like zero marketing spin, right? On this one, it was all through relationships, like a lot, a lot of people like on their first couple deals, they have to spend like 27 $10,000 to get their first deal. Obviously, you’ve made some investments but yourself, but this is like, Hey, this is pure profit in the sense like it didn’t You didn’t have to pay off any, you know, marketing to get this deal.
But even then, you know, in the past, I mean, you remember Nate, when I was in the program consistently, I had about five to 10 deals I had on contract all fall through Brio. And it was just, you know, minor things like either my numbers were wrong, or I didn’t find the right buyer and reach out I didn’t have a long enough time to find and dispo the deal, right.
And then this one, you know, it’s just we’re, I mean, it couldn’t have been more smooth. I say that, like, I barely had to do anything. Well, the cool thing about it too, is you’re transparent the whole way through with your buyer. You’re just like hey man, this this and he’s like nah, I really need to get it done quick and you’re like okay, so then you call your buddy and you’re like, hey, this is what’s going on. I can get you a commission send them through so you know it’s not it’s not shady it’s not feeling you’re not feeling weird. You’re just it was smooth and it was easy.
And about the deals that you know you’ve done in the past. I think a lot of people when they first get started you know it is not knowing like what the numbers should be right or it is not knowing what buyers you know, should
You should do work with but now you just explain how you got this deal. You did a great job at running the comps you leveraged an agent to kind of tell you what he thought it was worth great job. And then you leverage your relationships to find a buyer. So you it looks like all through that trial and error.
It got you to a point where this was smooth because maybe if you would have gotten this when you first started, it probably wouldn’t have been that smooth for you. Oh, no, no, definitely. I mean, if this fell on my hands when I first started I can almost guarantee you I would not have ever close I would have mess something up I would have done something wrong and I can almost guarantee I would not have been able to close and how cool is that?
Now through the experience that you’ve had since you’ve gotten started now it’s like Dude, it was smooth because it’s not that it was smooth for everybody like you just said it was smooth because of the things you went through and what you’ve learned, which is amazing. What do you think of that video everybody freaking awesome that Nick was able to $40,000 on his first deal. My first deal made $5,000 So Nick crushed it.
What do you think? Leave a comment below so I can know exactly what you thought means a lot to me when you engage because I really want to know what you’re thinking and what you think of the video see on the next one
