A lot of people are interested in finding big opportunities with the Fix And Flip.
Today we’re talking to someone who is making it work for them, and we’re going to cover his first incredible first deal (it’s more than some people make in an entire year!).
Neil Stedman is a former real estate developer who got into Wholesaling two years ago so that he could skip the middleman, find his own deals, and perform his own rehab – and so far it’s working out great.
IN THIS EPISODE YOU’LL LEARN:
- Why Wholesaling lets you cherry pick the best real estate opportunities
- Simple (and often overlooked) advice for Wholesalers
- The value of massive action
Cherry Pick Your Best Deals
One huge benefit of Wholesaling – being the first person in to put their name on the contract – is that it lets you cherry pick the best deals. Neil finds the best houses to fix and flip, but you can also find the best opportunities to fill out your rental portfolio.
Neil’s First (Incredible) Deal
Neil writes out his own mailers – yellow notes, red ink. They’re laborious, but he finds they get results.
He had a lot of misses (he even got kicked out of one house), but then he hit big.
He found a four-story row house in Washington, D.C in disrepair, and it was owned by a very motivated seller. Neil built a good rapport with the seller – it’s simple, but people often overlook the seller, and they’re the most important person in this relationship.
Neil was the 38th person to go through the house, but he got the contract. He signed for $700,000 and received an $850,000 assignment fee.
By thinking outside the box, taking massive action, and putting in the work every day, Neil made a $150,000 deal!
Simple Advice for New Wholesalers
- Don’t overthink things. The only thing that matters is building your system and taking action every day.
- Don’t worry about rejection. If you take massive action, you won’t always win… but when you do, you’ll win big.
- BOOK REC: The Pumpkin Plan: A Simple Strategy to Grow a Remarkable Business in Any Field by Mike Michalowicz