Are you yearning to break away from the 9-to-5 routine and ride the wave of financial freedom? Wholesale real estate might be the golden ticket you’ve been searching for. This strategy is more than a buzzword; it’s a practical side hustle with the potential to net you a cool $7,000 or more just by spotting a rundown property, snagging it at a contract price, and then smoothly transferring it to an investor — a seamless transaction that leaves you with a handsome finder's fee.
The Wholesaling Success Story of Alex Bradley
Alex Bradley’s narrative is particularly instructive — from episode 44 of the DealMachine Podcast — this wholesaler first dipped his toes into the real estate waters in 2019. Initially, wholesaling was his side gig alongside a full-time job and a part-time stint at a restaurant. Year one reaped four deals, and the second mirrored the first. However, as he plunged full-time into the wholesaling world, he hit a snag, closing just one solitary deal and witnessing his savings pool evaporate.
Yet, it was not defeat, but a detour — a return to restaurant work, humbling as it was, paved the way for a rebound. By the end of 2021, Bradley joined forces with another wholesaler, handling their 'disposition' — the realm of wholesaling occupied with selling contracts to those end buyers, often real estate investors. Rallying from his former setback, Bradley helped his team rake in $1.6 million in assignment fees during this golden era of wholesaling — a testament to the boom times when deals were snapped up, sometimes sight unseen, mere hours after hitting the market.
Carving a Niche in Disposition
However, Bradley's contribution to the wholesaling scene reached new heights when he realized that his passion wasn’t in direct-to-seller transactions. Instead, he thrived on the buzz of interfacing with buyers and steering clear of the theatrics that sometimes come with seller negotiations. He honed in on dispo and joint venture (JV) deals, offering a lifeline to wholesalers in need of assistance. His proposition? Instead, they bring their deals to him, and together, they taste the sweet victory of a finder's fee split.
Aiding the Struggling Wholesaler
The wholesaling journey isn't without its hurdles — and Bradley understands this firsthand. Many newcomers to the game often grapple with a critical stumbling block: offloading a deal once under contract, especially without the funds to close on the property themselves. Enter Bradley, armed with Investorlift, a powerhouse software that casts a net on a sea of eager buyers nationwide. For those lacking a broad buyer base, he marshals a force of contacts that could furnish that essential leg up in a sale.
People like you, yearning to navigate this real estate roadmap, could feel intimidated by the daunting task of amassing a buyer's list. But listen to Bradley's wisdom: Start small, list your buyers' preferences, ensure you have fresh deals to sift through daily, and connect the dots where opportunities align. If you shudder at the thought of cold-calling property owners, let others take the reins as you focus on the dispo side.
The Power of Communication and Relationships
Amidst all this talk of strategy, tactics, and software, Bradley underscores one truth that transcends the technicalities: the pivotal role of communication. It's the glue bonding the deal together, the cornerstone of lasting, productive relationships in the wholesaling business — and beyond. Even in the face of deals that resist closure, forthright, timely communication shapes the bedrock of trust and paves the way for future transactions.
The Takeaway
So, if you’re a whip-smart hustler eager to embrace wholesaling, whether you're newly minted to the scene or are finding yourself boxed in a corner, remember the story of Alex Bradley. Take his lessons to heart — leverage the power of networking, software, and most crucially, the art of communication.
To those wanting to cut the cord on their nine-to-five and heat up their wholesaling endeavors — tune into the DealMachine Podcast for that needed nudge. It’s more than a learning curve; it’s an avenue to a reality once envisioned only in dreams.
And now, you hold the key — not just to transact, but to thrive in the vibrant realm of real estate wholesaling.
About Benjy Nichols
Benjy has been a media specialist at DealMachine for the last 2.5 years. He produces, writes, shoots, and edits our media content for our member's DealMachine and Real Estate education.