Tenacious D(ealmaker): How Persistence & Creativity Win the Day | Awesome REI

Tenacious D(ealmaker): How Persistence & Creativity Win the Day

2 comments

(keep going… 🙂 )

Today, I have a really interesting deal story to share with you. And by interesting, I mean crazy!

What you’re about to hear comes right from the mouth of a guy named Cy, who I’ve been coaching for a while, sharing his real-life, first deal story. And boy, was it a doozy.

After recently sharing 25-yr old Dan’s first deal story, and Alain’s story where he pocketed $101.80 per minute on his first deal, I figured we should also maybe see the other side of the wholesaling houses coin: When a deal goes crazy sideways… and you still make great money on the other side of it.

Cy’s deal had as many twists and turns as a crossword puzzle, but with some moxie and raw tenacity, we made it all work out awesomely together. With quite a few years (and hundreds of deals now) notched on my belt, many would call me fairly skilled in the wholesaling houses game—especially 10 Hour Wholesaling. But this deal definitely threw me and Cy a few interesting curve balls.

And while I’m super proud to be helping quite a crew of awesome folks level-up their wholesaling game now… Cy really stands out to me. And to me, his first deal is a shining example of why you should never write things off as soon as it starts getting bumpy or you hit crazy obstacles you weren’t expecting.

Let’s hear it straight from Cy…

Crazy and awesome, right?!

Man, I love first-deal success stories like this—especially from my students! And even more so when they face (and flat-out destroy) so many crazy curve balls right out of left field like my boy Cy did.

Lol, are those two baseball metaphors even compatible? More importantly: Did you happen to hear a little of yourself in Cy’s story just now?

I’ll say it again: Cy’s story is a shining example of why you should not just write a deal off as soon as things start getting bumpy or you hit unexpected obstacles…instead persistence, patience and a little creativity can win the day for you.

It’s called tenacity.

After hearing Cy’s story, it makes sense why he called it “the deal from hell,” right? Even now, years later, he still says that it was the hardest deal he’s ever done. And though I’ve been in this business for a long time now… I never stop learning. Even to this day, I still rely on my experienced investor friends for insight and advice from time to time.

Let me briefly touch on the 3 key lessons I see under the hood for us…

(NOTE: Need help wholesaling houses? Consider how a little personal mentoring with Justin could level-up your wholesaling game sooner than later.)

Justin Wilmot Mentoring

Lesson 1: Persistence Rules

Yes, he could have thrown in the towel a whole bunch of times when things got weird…

  • … when the seller’s uncle swiped the lockbox out of nowhere …
  • …when the mother wouldn’t let him see the property anymore till he closed…
  • …when the boyfriend tried to squeeze $1-2k more out for himself…
  • …when the attorney’s full-on funny business kicked in…

Sooooo many times Cy wondered if he should just give this deal a middle finger salute and move on. And I’ve sooooooo been there! I mean, you know it’s getting whacky when the mother and the nutty uncle and the meddling boyfriend all jump in with an agenda.

Whatever.

But by coaching Cy through the many twists and turns, obstacles became opportunities, and well, you already know how it turned out. 🙂

“A River cuts through rock, not because of its power, but because of its persistence.” —Jim Watkins

Lesson 2: Patience Fuels

Life tends to throw up its crazy twists and turns when you least expect them, doesn’t it?! Suddenly things deviate left… then a sharp right turn again before you even have your balance. Sometimes our business is simple, easy and awesome, and then sometimes the crazy train pulls right up into the front of the station.

Talk about crazy train… didn’t it kinda seem like the seller’s attorney was driving that train?!

Cy learned a key lesson: Yes, patience is virtue…and sometimes it’s everything. When deals or plans take a sudden turn, it’s best to just go with the flow for a minute—have patience and see where this sudden shift might take us.

Persistence may be the active stick-to-itiveness that keeps your forward momentum, but patience is the internal fuel you need so you can actually do it.

Sometimes deals take longer to get done than we expect—like Cy’s, which took a solid month with $12,000 on the line. I told Cy and tell people all the time—an attitude of confident patience will, by itself, win you deals sometimes, end of story.

Don’t have enough patience or confidence for fuel yet? Borrow someone else’s if you can. That’s what Cy did.

“Patience is bitter, but it’s fruit is sweet.” —Aristotle

Lesson 3: Creativity for the Win!

This deal involved an inherited property—which means the process itself can be more challenging and you might have to work with more than one seller. Oftentimes, there are multiple heirs or other family members who insert themselves into the situation, even if they have no right to the inherited property whatsoever.

It’s a classic type of deal where you need to think outside the box. Yes, there’s others like that too—they’re not uncommon.

But here’s the thing: Where most people get stopped, dealmakers get creative.

break the rules

Things that most investors see as impossible roadblocks, I usually see as interesting speed bumps or crazy turns in the roller coaster. Wholesaling houses is all a game anyway, isn’t it? Yes, a fun and very profitable game…but still, a game. And clever games like this often take a little creativity to win the hard turns.

“Creativity is seeing what everyone else has seen, and thinking what no one else has thought.”  — Albert Einstein

Patience + Persistence + Creativity = ?

I said it already—it’s called tenacity.

This deal was all over the place and changed in an instant, but I got to help Cy see it through to the end. Thanks to our stick-to-itiveness, patience, and a whole lot of creativity with solving problems as things went along, he ended up winning the deal and winning the payday.

I don’t share Cy’s story to scare you. Quite the opposite—by sharing a story from someone you can maybe relate to, I want you to start believing that you have just as much potential as anyone who’s making $10k, $20k, $50k, even $100k a month. I’m so frickin’ happy for Cy’s success—he’s on track for $25-$30k months regularly now, and I’m sure he won’t stop there.

Bottom line, here’s something worth writing on your wall:

Gumption, grit and tenacity a true dealmaker makes.

What do you think? Let’s hear it below…  🙂

—Justin

(NOTE: Need help wholesaling houses? Consider how a little personal mentoring with Justin could level-up your wholesaling game sooner than later.)

Justin Wilmot Mentoring

 

Justin Wilmot

This guy loves surfing so much that figured out how to make a killing flipping houses, and also spend as much time surfing & enjoying life as possible. After years grinding in restaurants, he stumbled into wholesaling houses for quick cash, but quickly got bored by the "necessary" daily tasks (like marketing, talking to sellers, negotiating, zzzzz...) Then he got this crazy idea for a new way to wholesale houses, and turned into a top-dog in multiple markets. He also digs teaching others how to model his methods and spend waaaay less time in 'busy work' drudgery, but still making great money flipping houses in a few hours/week. (And doing whatever the heck you want with the rest of your week!)

Click Here to Leave a Comment Below

2 comments
Cheryl

I was hoping to hear more details about this deal of how you overcame the roadblocks. But I didn’t learn anything by reading this article.

Reply
    Patricia Gee

    Cheryl, may I suggest that you read the article again, as well as the articles
    that are linked to? The point of these articles was not as a how-to, but to encourage,
    support, and show you that you can do this, no matter what obstacles are
    thrown your way. Also, a little mentoring can go a long way. Don’t be
    afraid to ask for help and guidance when you need it. Enjoy!

    Reply
Leave a Reply:

Share This