Guy Makes $101.80 PER MIN. Wholesaling His First House
Hello boys and girls, got another thrilling win to share with you. Today's hang-ten high-five goes out to Alain—yet another dude I have the privilege of walking beside as he builds a business. Alain just crossed that huge “first deal milestone” for a tasty $9,162 payday.
BOOM! (all caps this time)
6 things that make Alain's first deal so dang re-freaking-markable:
- This one he totally crushed 10 hour wholesaler style–without ever meeting his seller or buyer in person.
- We've been working together only 7 weeks before this first $9,162 payday.
- After a solid year of prior struggling with zero to show for it.
- All together, he's got around 60-90 mins total into this deal.
- So yep, that's $108.80 per minute of actual time invested. 😀
- It was all way easier than he first thought it could go.
BOOM! (lol, how else can I say it? Might as well make it bigger 🙂 )
When Alain first texted us the picture (above) my boy JP reached out to him to hear about it, and even turned it into a fancy video. So here's his concise-yet-impressive first deal story, including:
⇢ Exactly how he found his cash buyer (easily)
⇢ How he made this deal catch his perfect buyer's eye.
⇢ A few game-changing lessons he learned along the way.
Let's hear it right from Alain…
JP: Tell me the story, it's exciting. I remember my first deal back in 2000 and I just remember that excitement. I don't remember the details anymore, but I remember how it felt and I want to hear about it.
Alain: Well, what I did in this case is I did what I was supposed to, what I was taught to do, right? You've got to build two pipelines, one of sellers and the other one is a pipeline of cash buyers and landlords. And I actually did exactly to the T what Justin teaches us to do. I sat down about a month and a half ago and I had no sellers, no inventory, no idea.
And so, what I did, I contacted a bunch of wholesalers and I called them and I went on their website. And I told them I was a cash buyer, which I do with my son sometimes that we may buy a house and fix it to flip it. But I would always of course tell them that, hey, if I get a house from you and it's not good fit for us, I also have a cash buyer list. You know, is it okay if I sell that house or if I tried to sell it to a buyer that I may have?
And they all said yes, of course, you know, we're going to wholesale it. So I understood what Justin meant by building that inventory using other people's… the marketing ways of, you know, direct mail and all this and that for them. So, I understood that they needed me.
So, I'm like, oh, this is cool. Because the next day I started getting emails from people with their inventory. In the meantime I had put a little, a craigslist ad looking for cash buyers and fix and flippers and things like that. And I had a guy that called me and he wanted to know if I had an inventory for him. And I was honest with them. I said, well, not in your market place. I'm in a certain place now.
But he was like further northwest of Chicago. I'm more like southwest of Chicago, but I kept in touch with him and one day I got this house that was emailed to me from a wholesaler. And I'm like, oh my goodness, this town was Arlington Heights. I'm like, this is exactly where that guy, Mike needs a house.
So, I called Justin. I'm like, listen man, I don't know how to create a fancy flyer where I can wow my guy and he's listening to me and he's like, you don't have to do that. Call the guy up, you got his phone number. I'm like, yeah, I do. Of course, I got his phone number, please give him a call and just tell him what you got.
And I said, well, do I inflate the price? He says no, this is the price. And since you have a JV agreement, which I do, he says, make sure you know that they're still going to honor that. Just call the guy up, you know, and how you're going to split it.
And I just did, I called, I text and I emailed him. I did the three things that, you know, he wants us in order to make sure that some people can know, they check their emails at the end of the day. Some people don't like to talk and they like to text.
So, I did all three of them and he called me back like within an hour. He said, Alan, it's Mike. I've never met the guy. And by the way, this is the beautiful thing about this. Justin, you know, he talks about wholesaling in different states and things like that. I have never met my buyer and I never met my wholesaler. I've never seen the house. All I saw was a flyer email in my inbox sitting at home on my computer.
Uh, you know, like… it was unbelievable. I was like, oh my gosh. So this guy says, yeah, I know where that house is at. I said do you know about it, because he could also have been on that wholesaler's list because he told me he was also on some people's list, but he says no, I don't know anything about it because he ended up telling me that he got that same house emailed to him three times.
Even after we bought it from some people that never contacted him, but they were just sending him the flyer hoping he was going to call them back. Well, because I was personal, you know, like I'm more like I didn't treat him like a number. I called him up. I just texted him and I emailed him. He says, I don't know about this house and at that time and he drove by, then he called me back and says I want to see it.
So that's what I called the wholesaler. And I says, I need to get into this house as soon as possible. So he says tomorrow morning at 10:00 AM. I am pulling up in front of that house and that was a salvation army truck in front of the House that they were unloading the place and the lady was sitting in a corner with, you know, she wasn't doing well, so she was selling a house and the wholesaler put a bid on it.
The asking price of the wholesaler is with my guy paid for and we closed in like four weeks, three weeks, and we split a $19,200 bucks.
So, I made I made $9,160 at the end of the day. I split a couple fees here and there. $19K. We made $19k divided by two minus an attorney fees we had to pay. So, I ended up going home with 9,160.
JP: I saw the picture, 9,162 to be exact. Don't forget those two extra dollars.
Alain: Yea that two extra dollars goes along way. So I was, I was like, I can't believe this because I actually, you know, I met my guy for the first time when he told me I want to see it, so I drove to the house with my son in the car and I pulled up in front of the house and I just met my buyer for the first time and he was on my list now since that craigslist ad for quite a bit for weeks.
I knew he wasn't in my marketplace, but I knew that by going into those wholesalers, being part of those wholesalers list that eventually, you know, something was going to pop and it happened very quickly.
JP: And it happened very quickly. Alain, how long have you been mentored by Justin?
Alain: Like seven weeks into this thing. Yeah.
JP: What were your expectations and then how does that compare?
Alain: This is an easy one because I started with a different company. A guy I knew from work one day introduced me to wholesaling at lunch, and he introduced me to the business. So the two of us, we had this big idea, okay, let's quit our job and let's do that.
And for one year we had no idea what to do, no clue what to do. And I knew that I needed a coach. I'm a big hockey guy from Canada. I coached hockey. I learned how to play. My Dad was a pro hockey player, so I understand training and I understand… it's, you know, you need a coach in anything you do, you need somebody that tells you this is how you do it. And I was looking for that. Then I couldn't find it.
Then I didn't know what to do and I was frustrated because I'm like, I know I can do this, but it's like I can play that sport, but I don't know the rules of the game and I need somebody to tell me and Justin is the one that told me.
He told me how simple this can be. I knew it. I was in, I knew that I didn't have to do too much of a burden. It's just what you do every single day to wake up to turn your computer on and you built two pipelines, wholesalers and cash buyers and landlord, and then we of course use Fiverr.
I'm very big on Fiverr. I had no idea what Fiverr was eight weeks ago. No, I never heard of before and now I'm at big Fiverr guy. I never heard of Upwork until eight weeks ago and now I'm on Upwork. I have people working for me today. I just hired a wholesaler agent because I'm opening already a market place about 25 miles away from where I am that I can't cover, but I see the opportunity over there and I just hired somebody that's gonna work for us as an independent wholesaler
And I'm going to teach that lady what Justin is teaching and we're gonna duplicate what I did over here, which is going to start doing it over there. If it wasn't for Justin, trust me, then I still would be trying to figure things out. It's like golf, right? You can't show up at the driving range trying to hit the ball the same way over and over and over… you need somebody to tell you how to do it. That is what he's done for me and I mean this is only the beginning, but I can clearly see that where I can go. The goal is to listen.
I told him I want to make $25,000 a month and right now I got another deal in the pipeline and I've got a closing in about 10 days this month. I'm going to have $15K already.
JP: That's a really striking story. What a success story. I think people are really gonna be inspired when they hear it. In just over seven weeks, not only did you land your first deal and get $9,000 plus, but you didn't even meet the seller. You didn't even meet the buyer. The whole thing happened basically over the internet and the cell phone. How many hours would you say you had into that one deal, if you just had to guess?
Alain: That one deal, it's kinda of embarrassing to say that one deal… I put that Craigslist ad and that was like, what? And then I just duplicated the ad that he gives us. I never been in Craigslist. I'm 54 years old, man. I don't go on Craigslist. What am I going to do there.
So, I just printed the ad and I looked at it. Then I just created my own ad and I made it look the same way and I just posted it. Next thing I know I got this guy, it's popping up on 10 minutes, 15 minutes. Then I called the wholesaler, you know, everybody I'm calling, which is very pleasant, but it's not, you know, they don't bite too. I mean it's very simple to just build a list of wholesalers. They all want to be on your list too. So, it's like, okay, scratch my back, I'll scratch yours.
So, I would say the whole thing took me about an hour now and a half. I got in my car with my son and looking back, I could have just sent my son, he's 20 years old, go to meet that guy over at that house over there, you know, I could've done this, I could've done the whole thing without even doing it.
Sounds unbelievable and so I can understand now why he says he can surf and wholesale homes, you know, so I mean I'm not there yet, but obviously I can see in my mind where I would like to start wholesaling homes at Milwaukee and Minnesota and you know, just pick and choose your city and you just get on Google and you just look for those wholesalers over there. You call them up and all you have someone calling them for you. With Fiver and Upwork, I can see now the whole picture where they don't ask where you're from and what to do.
Among my favorite nuggets:
- He's already got his second deal, for a ~15K month
- Also already branching into a new market remotely.
- “If I want to wholesale a home a week, this is the kind of system that'll do that for me.”
- “I could have done the whole thing without even doing anything.” (YAS!)
BOOM! (colors this time 😀 )
Alain, a true pleasure to stand by your side through the twists & turns (learning curve) of this deal, my man. Time to rinse and repeat!
What do you take away from Alain’s story?
I’m all ears (soon as I get back from this surf 😉 ) Talk to me below…
(NOTE: Need help wholesaling houses? Consider how a little personal mentoring with Justin could level-up your wholesaling game sooner than later.)