If you've ever found yourself jumping from job to job, feeling unfulfilled and frustrated, then Danny Berovides' story is sure to inspire you. In this blog, we'll share how he went from trying 30 different jobs to starting his own company and making $1.4 million in wholesale fees. His journey is a testament to the power of perseverance, finding the right strategy, and building a successful real estate investing business.
The Road to Success
For Danny, the road to success was not an easy one. He didn't have a background in marketing and wasn't sure where to start. However, he saw others succeeding in real estate and knew that he could figure it out too. He had a "do or die" attitude and was determined to make it work.
In the beginning, Danny was using traditional marketing methods like bandit signs to find deals. However, he soon realized that he was targeting the wrong people. Absentee owners rarely visit their distressed properties, so his signs were not getting seen. He needed a better strategy.
That's when Danny discovered DealMachine. He decided to give it a try, despite initially thinking it was too expensive. This turned out to be a game-changer. Danny became a driving-for-dollars king, using DealMachine to target specific neighborhoods with potential properties. He drove around in his diesel truck, snapping photos of distressed houses and adding them to his list.
Thriving on Low Marketing Costs
One of the biggest benefits of using DealMachine for Danny was the dramatic decrease in marketing costs. By focusing on targeted data and driving for specific properties, he was able to significantly reduce his marketing expenses. In fact, he only spent $48,000 on marketing while making $1.4 million in wholesale fees.
Danny estimates that he spent about $500 to $700 in marketing per deal, which is incredibly low compared to industry standards. This allowed him to maximize his profits and reinvest in his business and personal life.
Overcoming Challenges and Making Big Deals
Danny didn't achieve success overnight. He faced many challenges along the way. But with his determination and the right tools, he was able to overcome them and make some incredible deals.
His first deal, which he picked up for $30,000, resulted in a $1,600 assignment fee. While it may not have been a huge amount, it proved to Danny that his strategy worked and gave him the motivation to keep going.
His biggest assignment fee to date was $75,000, which came from a deal he found through driving for dollars. He purchased a vacant lot for $250 and sold it for over $100,000, splitting the fee with a fellow wholesaler.
The Impact on Danny's Life
The success that Danny has achieved through real estate investing has had a profound impact on his life. He no longer has to worry about money, and he has the freedom and flexibility to spend quality time with his family.
Before diving into real estate, Danny had worked 30 different jobs, always feeling unfulfilled and limited in his earning potential. Now, he can take vacations with his family, enjoy life, and have the financial stability he always wanted.
Lessons Learned and Advice for Others
Danny's journey has taught him many valuable lessons that he shares with others looking to achieve success in real estate investing.
- Don't be afraid to ask for help and partner with others to get deals done faster.
- Take massive action, even if you don't have all the answers. Learning comes from doing.
- It's okay to say "I don't know" when asked a question. Honesty is key.
- Follow up on leads consistently. Many missed opportunities can be won through persistence.
- Care about the people you work with. Look for win-win situations and build genuine relationships.
Conclusion
Danny Berovides' story is a testament to the power of perseverance, finding the right strategy, and building a successful real estate investing business. Through his journey, he went from trying 30 different jobs to making $1.4 million in wholesale fees. By using DealMachine and focusing on targeted data, he was able to reduce marketing costs and maximize profits.
If you're feeling unfulfilled in your current job or looking for a new opportunity, take inspiration from Danny's story. With the right mindset, strategy, and tools, you too can achieve financial freedom and personal satisfaction through real estate investing.
