Wholesaling Real Estate | How To Find Wholesale Deals |Focus on Revenue (Making Money)

– Hey guys, Lex Levinrad over here and I just wanted to do a
brief discussion if you will with you guys, about
the number one question that I get asked. And that is, how do you find a deal? Alright, so I see too many people, too many new investors,
and if you’re watching this you may be a new investor yourself, I see too many people
focusing on the wrong thing. And I see you guys focusing on content. In other words, you’re trying to analyze and absorb all of the
information that’s out there. You’re logging on to every webinar, you’re going to every seminar,
every workshop you can, reading every ebook or every
free download you can get to try and learn how to
start flipping houses. And I see a lot of you
not achieving results, and the reason is, is because
I think you’re focusing on the content side. And what I want you to
try and do is focus more on the action side. And what I mean by that is that,
don’t pay so much attention to the specific method
or one specific method. They all work, okay? I’ve trained 2,000 plus
students how to wholesale and flip houses, and I
can tell you for a fact that just today for
example, we were speaking with different students. And one of our students
found all of these deals on Hubzu.com. And another student we
were talking to today found a bunch of their
flips, including one where they made $32,000 on Hudhomestore.com. And that’s just a wholesale deal, right? Without touching the property. I’ve got some of my best deals and some of my students’
best deals have come from motivated seller marketing where
we’re sending out postcards or yellow letters. And I interviewed a student today who’s got a lot of these deals
where he’s made a huge spread of $30,000, $40,000 on a
house off of bandit signs he put out in the neighborhood. And you know, when I go to
these real estate meetings a lot of times I see, I overhear
investors talking about, “Oh, bandit signs don’t work,” or, “Postcard marketing doesn’t work,” or, “Hubzu doesn’t work.” And I’m here to tell you that
they all work, but the key is you have to be consistent number one. And number two, you need to
know your product, right, you cannot buy a house in a
neighborhood if you have no idea what that house is worth,
or what other investors would pay for it. You also cannot really
fix and flip a house in a neighborhood unless
you know what other people who are buying a house with a mortgage would pay for that house. So first do your homework. Pick one specific location
and learn it well. Understand what cash buyers
would pay in that neighborhood, and understand what, if
you fixed a house up, what you could sell it for. Now, once you’re armed
with that information, making offers becomes much easier because whether you’re
going on Hubzu’s website or Auction.com’s website or
maybe even if you’re doing a mailing campaign, you’re now
targeting that specific area and you’ll know exactly the price point of where you can buy at. And you’re very comfortable
that you could flip a house to someone at a certain price point. Or, what price point rehabbers would buy a property from you for, right? So if you start doing that,
you’ll start getting deals done. And then if you wholesale a
couple of deals like that, and you build up a little bit of capital, you’ll be able to come to
someone like me and say, “Hey, I want to buy this property, “I can put $10,000 or $20,000 down, “can you give me the loan?” And I’ll say, “Yes,”
if it’s a decent deal. And at that point in
time, all you’ve got to do is come out with the rehab
money, and that’s when you can start making $40,000
or $50,000 or $60,000 like you’ve seen some of my students do. And I got to tell you, when you
start doing deals like that, if you’re making $50,000 or $60,000 a deal and you start doing four,
five, six deals at a time that really, really adds up. And you can start making an incredibly large amount of money. But it all starts back with
going back to the core, to the beginning. And that’s what I try
and teach at my bootcamp. And I do that bootcamp
twice a year for wholesaling and I have another fix and
flip bootcamp twice a year. So it’s a total of four bootcamps a year. And that’s what I teach
people is the fundamentals because there’s too many people out there that are just focusing on content, and saying, “This is the method,” or, “That’s the method.” And there is no one method. In any given week if I
were to look at the deals, last week I bought seven houses, if I would look at those seven houses, I might have gotten one
house with a yellow letter, one house with a postcard, one house off of Hudhomestore.com, one house off of Auction.com,
one house off of Hubzu.com, and one house from a realtor,
right, as a referral. So does it really matter
where I found the house? No. Does it matter if I bought
it from a wholesaler and paid them a fee? Absolutely not. I got a house that I just put
on the market for $169,000 that I found from a
wholesaler for $88,000. Now, he made his $5,000 fee
flipping that house to me. So, when you start adding
up all of these sources, wholesalers that are sending out deals, sending out postcards,
sending out yellow letters, putting out bandit signs,
making offers on Hubzu, making offers on Auction.com,
just going on the MLS and looking for deals
and calling realtors, even on Realtor.com you
can find deals, alright? The point is, pick a market,
be consistent, and make offers. And a good rule of thumb I like to make is make five offers a day,
which is 25 offers a week, or 100 a month. And I’ve got to tell you, if
you’re making 100 offers a month and you’re not getting at least
five houses under contract you’re doing something horribly wrong. You’re either offering way
too low, which is what I find a lot of beginners do, or
you’re just not understanding the numbers in your market, alright? So, wholesaling and flipping
houses is not rocket science. It’s actually quite easy. You’re just finding deals
at a discounted price that you can flip to other
investors so that they can fix and flip those houses and make a profit. That’s it. Don’t overthink it, alright? So, we’ve got a Distressed
Real Estate bootcamp coming up which teaches wholesaling, and if you want to learn
how to wholesale and flip, then by all means go ahead
and add your info below and we’ll send you some info to show you how you can get started.

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