Wholesale Real Estate | Wholesale House Flipping | How to Get Started in Real Estate Grant Cardone

Wholesale Real Estate | Wholesale House Flipping | How to Get Started in Real Estate Grant Cardone

Learn How to Wholesale Houses: Make $40,000
Profit Money Flipping Hi it’s Neva at timeforinvesting.com. Today
I’m continuing my series on going through some of my real-life wholesaling, assigning
contract transactions. Stay tuned, I’m going to walk through my $40,000 deal.
Hi, thanks for coming back and watching my videos. I’m actually behind because a couple
of things: One my husband went traveling and he had the camera; and then two I got rear-ended
and I’ve just been like kind of in pain trying to get some rest type of things so that’s
why I fell a little behind with posting my videos every week.
Now I’m going to continue back up with going through some of my real-life transactions,
wholesaling and assigning contracts. While I was just kind of chilling getting
some rest, I think it’s A-ida or A-eda I hope I’m saying your name right. But she was looking
at one of my old videos where I mentioned that I had made $40,000 on a wholesale deal.
She kind of asked, Hey, how did you do that? I just thought to feature it in my real-life
transaction segment. This deal is actually old. I closed this back in 2012 but it just
still comes up a lot and people ask questions about it because of the value of the wholesale
deal which is a lot. One of the questions that she asked me was
$40,000 wow. Because what she had previously heard was maybe five or ten thousand is average.
What I will say I’m in the DC area, property values are much higher in this area, like
just an average regular house can be $500,000. That can also be why maybe wholesale fees
may be a little higher in our area because of that.
Another thing is, I’ve done transactions where I’ve only made $2,000. It’s like a range.
When I first started marketing this deal, everything was priced that I was looking to
make $27,000. It just so happens that I ended up making more than I had set out to do.
The first question is in my series that I usually answer I actually need to check. Because
sometimes and that’s why I have to write it down, you guys know I’ll forget my own question.
But the first question in the series the question I answer is, How did I get the lead?
Now this is really a good example because I had to use several different techniques
until I actually had to sign a contract for this house.
Initially, I sent a postcard. I had actually communicated with this property owner at least,
if I remember correctly, like a span over a year or so. I had sent postcards and maybe
within that time, the property owner had received maybe two or three postcards.
He did respond to one and we start our communication. I explained and I initially had made an offer
but we didn’t come to an agreement. At that time, I couldn’t meet what he was asking so
we never came to a deal at that time. That’s why it’s important to also follow up.
Because what I did after that, I would maybe call once a quarter or something like that
and just kind of check in and see if anythings changed with the property owner or something
like that. Because in this situation, we didn’t come
to an agreement. I remember the property owner said, What I’ll probably do is just fix the
house up by myself, and then he would put it on the market because he would make more
than sell it to me while it needed the repairs and so that’s what he had decided to do.
I was just kind of call and check in and see, Hey are you still going to do that? Have you
thought of renovations? Things like that. Another thing that I did, I had started like
a newsletter. An email newsletter that I send out to people that I know that are landlords
and it has like landlord tips and things like that.
Usually if it’s like in a situation someone that I’ve made an offer to before, I was just
having no in there saying, Hey I’m still interested in purchasing your property. Give me a call
if you want to maybe start talking and negotiating again.
He responded again to that email and we started to talk again. Now what’s really, really good
tip for this transaction is that a year had past and within that year, property values
went down in our area. When I did my analysis, I couldn’t even offer
him the same price that I had offered before because the property value went down. When
I calculated it, I actually needed to have a lower offer.
I remember, initially, I wasn’t going to make the offer because I said, Oh I can’t even
offer what I did the last time. Initially, I was going to tell him that and not even
give him the offer. And sometimes, just send him the offer and just explain that why it’s
lower than it was previously. I did that and I don’t know. Somehow he accepted
the offer and I just was blown away like, Oh my goodness. So always, no matter what,
submit your offers and leave the acceptance and rejection to the property owner. Don’t
try to calculate in your head what decision people are going to make because ultimately
we really do not know so that’s an example of that.
This lead I got it from a lot of persistence, a lot of following up. But always follow up
in a professional manner not in a nagging, aggressive manner but just professional marketing,
reaching out, listening to what the property owner’s concerns are things like that.
Because since he told me, Hey I’ll just make the repairs and do it myself, I’ll make more
money. I agree with him, I said, You will make more if you do the repairs yourself.
But however, he was out-of-state and that’s a lot to be out-of-state. He was smart enough
that he knew that not to hire a crew and just be in another state and have them working
so he needed to be here. That was what was holding up him moving forward in doing the
renovations. That’s when finally when he reach back out
to me, he’s like, It’s been a year, I still haven’t done the renovations. Now the house
is empty. Because originally, he at least had a tenant in there but now he was like,
It’s empty, I’m not getting any money.It was just a better time for him to sell and just
say, Hey Neva, you guys do the repairs and just give me my cash up front.
That’s how I got the lead persistence. So what did I do? I sent postcards, I called
and I just followed up with email. That’s three different things that you can do.
That’s why I always say, Follow up and follow up in different ways. Do not do the same [0:08:11]
of thing over and over and over because it’s like annoying. That’s just annoying like I
think it’s annoying for me. I could just imagine the person on the other side.
Just mix it up, do something different and try to also provide useful information while
you’re following up. Like I said I put the email newsletter, I started to offer tips
instead of just reaching out and saying, I want to buy your property, I want to buy your
property. It’s just annoying if you do it that way.

55 thoughts on “Wholesale Real Estate | Wholesale House Flipping | How to Get Started in Real Estate Grant Cardone

  1. Hello again Mrs.Neva, thank you so very much for this awesome video. I hope you're doing a lot better in reference of the accident definitely missed you. As of the tips I agree different strategies would be better I'm going to do the email follow up gotta make sure I get those emails now! Thanks for the tip. And that does makes sence about you being able to get a 40k wholesale fee being that the house you got was on the higher end. Definitely helpful like always :* . By the way you got my name right that was funny. God bless you and the fam. You rock!!!

  2. I wish you would have broke down the numbers πŸ™ inspiring though

  3. Hi Neva, glad to hear your feeling better. Thank you for the video and tips. I too am interested in the numbers, how you analyze values and determine your offer price! Thank you. Keep up the great work.

  4. I love your originality and the "mistakes" during the video…But what is commendable is that you apologize during said "mistakes" through the video while you are just helping newbies like me!!! Thank you for your efforts to educate "newbies" like me…I think you are awesome and I promise to pay it forward…much continued success!!!

  5. Thanks very helpful

  6. Hi Neva, just want to give you a tip. I'm new to seeing your videos and i had to wait until 1:52 Β before you actually starting talking about what your doing. you are loosing a lot of leads by not getting to the point. we as new leads are not interested in your friends and why you didn't make new videos for a while ( your subscribers will be interested though). this my sounds harsh but its true. you need to get to the point and when the video is over you can say those things. im writing this cause not to be a douche but Β to help you.

  7. Great video!!! So refreshing to see a young lady doing a wholesaling video!!!

  8. Neva, I am trying to find a mentor do you have any advice. There are so many people out there who are not honest

  9. Congratulations to you. πŸ™‚

  10. great video

  11. Great video thank you for sharing

  12. Great video!!

  13. I saw your video and I enjoyed it a lot. I've been very interested in getting myself into real estate investing for some time now and have been looking for ways to educate myself on it all. I am also from the dmv and was wondering if you attend any meetups or groups?? Any advise for a person looking to get into investing with not a lot of money up front.

  14. Hey Neva, thanks for all the informative videos! I'm only 19 and have become so interested in the wholesaling and flipping houses. I'm excited to start making deals!

  15. what did you spend that money in? (:

  16. Neva starts cooking the meal at 2:42 guys πŸ™‚

  17. "pro-tip" – stop smacking your lips or sucking your teeth. Not to be rude or anything but your video would be more enjoyable if it were not for that

  18. Thank you for being you. I'm gathering so much information from you.Β  Thank you for showing your personality!

  19. Great advice!

  20. I love your smile πŸ™‚

  21. The lip smacking is annoying and unprofessional.

  22. Hey do you have a email I have some serious questions about this business

  23. Great video and feedback from transaction.

  24. Do you wholesale of of state?

  25. hey Neva great video, my name is Louis i have two questions. 1. what do you say in your second, third, mailings to sellers and ?2. what title co. or attorney do you use to close your wholesale deals. i am in Washington DC. thanks Louis look forward to hearing from you.

  26. Do you offer classes?

  27. U seem very nervous doing this video…but other than that great work keep it going

  28. Hey great info. Could you share with me how to use post cards. my email is [email protected] Thanks!

  29. Neva it's so refreshing to see a young woman in the wholesaling business! I will be moving out to the D.C area and wanted a good set of resources that you could recommend: title company's, contractors, top realtors, etc. my email address is [email protected] please email me at your earliest convenience. Thank you!

  30. hello Neva, I wanted to flip deals in the usa, but I wanted to know if I can use the contracts that I currently have in the uk for a deal in the usa


  31. Good tip: Always agree with the customer.

  32. Thank you for your post! It is nice to see a woman in the business. I'm just getting started. I'd like to add you to my network. [email protected]

  33. i love how you say axin instead of asking, and stop smacking your lips its painful to listen.

  34. Hi Neva, great video. I was wonder how do you conduct a property value analysis?

  35. how much is needed to start?

  36. Thank you for the video and sharing your experience.

  37. Thank you for posting your Videos! You are very encouraging, keep up the good work! I'm subscribing now! πŸ™‚

  38. It's so great to see an successful black woman in the Real Estate Business. I'm just getting started and YouTube suggested I watch your videos. I'm glad it did.

  39. Hi Neva. Will you offer monthly installments for your mentor students? Everyone I have asked is very expensive. I don't mind paying but I am new and have not did a deal yet. So, $$$$$ is too much to start with for me.


  41. im finding all of this information very easy to take in, and inspirational, even. thanks and I subscribed to your channel as an addition to my studies. I hope to see more from you! #yougogirl

  42. hey congratulations on your progress!!! I'm a beginner in real estate investing and I need some help with my contracts..any advice?

  43. In the d.c area too. Could definetly use some tips / a guide on how to close a deal.

  44. Im going into the real estate flipping house in NY the queens area lot of one family houses out here

  45. should I go out and get my post cards put up

  46. I'm so excited I'm becoming a investors wholesale is what I'm looking into things happen for a reason when I lost my job

  47. Thanks Neva! So glad I found you!

  48. good information I have a question my friend want to convert an inherited home to condos DC metro area any advice on how to find contractors

  49. watching this in 2018.

  50. Hello, I am a single mother who works full time. I am just starting to get educated in wholesaling as a means to gain financial stability. What are your tips for people who need to continue to work full time or have limited time to work on their business? I am planning to use early mornings, evenings, and weekends to grow my business. Is that practical? If you have a video addressing this already, please point me in the right direction. I just want to tell you I have found all your videos so informative! Thank you!

  51. With the EMD do you give it directly to the seller or to the attorney/title company?

  52. I am so glad I found your videos this past week. So informative. I have much more confidence in going after my real estate goals. I’m 22 and know for sure I want to pursue REI. Thank you so much for making videos. Please keep making them!

  53. Oh wow I'm in the DC area too! So glad I found your channel!

  54. AWESOME! Do u offer a mentorship program – I need to view a contract for the buyer & seller

  55. Great work and information you gave us thank you so much for doing this video, considering the pain you’re in do to your accident, U are a trooper, and CONGRATS on that great of a deal even if it was awhile back it still deserves it’s praise. I β€˜be been doing this business for 9mths now and still trying to make it work, so I am listen to people like U trying to learn something to be a success tooπŸ˜€πŸ˜‡πŸ€©πŸ€—πŸ˜€πŸ˜€πŸ˜€πŸ˜€πŸ˜€

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