Real estate investing often feels out of reach for beginners, but sometimes one smart deal can change everything. Luis Monroy, a determined real estate agent, turned a unique opportunity into a $20,000 profit in just two days—all without closing on the property himself.
Through a mix of strategic wholesaling, quick thinking, and the smart use of technology, he showcased how real estate offers incredible potential for anyone willing to take action. This story not only highlights Luis’s success but also provides actionable insights to help you start your own journey toward real estate profits.
Understanding Wholesale Real Estate
Wholesale real estate is a powerful strategy for entering the property market with minimal capital. Here’s how it works:
- Finding a Deal: Locate a motivated seller who is looking to sell quickly.
- Under Contract: Secure the property under contract at a low price.
- Assigning the Contract: Pass the contract to an interested investor at a higher price.
Luis's success stemmed from a deal he executed using this method, allowing him to pocket a $20,000 difference without even closing the property himself.
Luis's First Deal
A Perfect Start
Luis had a unique opportunity on his hands. He found a motivated seller who needed to sell their property within two weeks. This urgency eliminated the possibility of listing the house traditionally with a real estate agent, leading to a perfect scenario for a wholesale deal.
“They didn't have enough time to list it with an agent.”
Luis's ability to understand and respond to the seller's needs gave him a competitive edge.
Leveraging Technology
Luis utilized a tool known as "DealMachine," which streamlined the process of identifying potential properties. By driving for dollars and documenting distressed properties, he was able to build a list of over 800 possible deals.
This innovative approach involved capturing images and sending out mailers automatically, sometimes revealing opportunities that weren’t apparent at first glance.
The Unexpected Twist
Interestingly, while one property didn't pan out, the mailer led the seller to offer another property that was fire-damaged. Luis’s flexibility and readiness to adapt ended up being pivotal.
"The guy ended up calling me from the mailer."
His quick-thinking eventually led to a connection with an investor willing to pay $20,000 more than Luis’s contract price.
Doubling the Income: The Additional Commission
Luis didn't just stop with the wholesale fee. After the property was flipped by an investor, Luis listed it on the market. This step increased his earnings as he made an additional commission from selling the renovated property.
“I was able to list it using my real estate license and make another commission on this deal.”
His dual role as a wholesaler and agent allowed him to capitalize on both sides of the transaction, showcasing a clever way to maximize an investment.
Network Smartly
Luis’s journey demonstrates the importance of networking in real estate. By connecting with investors and fellow professionals, he unlocked new opportunities and streamlined his processes.
Seeing his friend, a roofer, build connections in the real estate world further validated the value of expanding one's professional circle.
Balancing Roles
While the wholesale deal was a big win, Luis realized the importance of balancing his roles. He initially stepped back from traditional real estate to focus on investing, but later returned when it affected his service quality.
This insight teaches us that while diversifying is essential, maintaining one's core strengths is equally crucial.
Looking Ahead: Luis's Next Steps
For now, Luis plans to continue focusing on being a real estate agent, but the allure of wholesale deals remains. As he drives around for his daily business, the DealMachine app remains a useful ally, capturing properties of interest along the way.
Conclusion
Luis’s story proves that with the right strategy, tools, and mindset, real estate investing can lead to impressive profits—even in a matter of days. By seizing opportunities, leveraging technology like DealMachine, and maintaining a strong network, Luis unlocked multiple income streams from a single deal.
For aspiring real estate investors, the lesson is clear: stay adaptable, use smart tools to streamline your process, and never underestimate the power of networking. Whether you’re just getting started or looking to refine your skills, Luis’s journey offers a blueprint for success. Real estate investing is full of opportunities—are you ready to take the first step?
