Updated: May 20, 2022
So you decided to make take the first steps into wholesaling!
You’re super excited and filled with fire getting ready to get your business off the ground and make this a full-time position!
Now, most wholesalers who get started in wholesaling start This as a side-hustle or as a part-time job. Logistically, they recognize that it will take some time before they get their first deal.
For some, it takes days, for others, weeks or even months.
It can be super discouraging and can make you second guess your choices.
I get asked all the time, “Jamil, how do I get my first deal?”
Here are some of the things I did to get my first deal.
Knock on Doors with the Batch Driven App
I know nobody wants to hear this, but knocking on doors is a great way to find properties to wholesale!
Thankfully, you don’t have to do it alone. There are plenty of apps out there to help you find that home waiting to be your first deal.
Personally, I like to use the BatchDriven app. In fact, if you use this link, you’ll be able to get a special deal just because I sent you!
What I like about the app is it helps me find specific pain points I may be interested in attacking, like homes in foreclosure. Use the app to create a list of homes in your area and go knock on those specific doors to land your first deal.
Driving for Dollars
Driving for dollars allows you to get a more intimate look at neighborhoods.
The types of neighborhoods you’re looking for are the ones I like to call “warzones” because they’re not in the best condition. I’m talking homes with:
Mail sticking out of the mailbox
Overgrown or unkept yards
Homes in this condition are prime homes to wholesale! A home that is in distress on the outside is more than likely in distress on the inside as well.
Go knock on the door and talk to the homeowner who is in over their head and see if they’d be interested in selling.
It could be a landlord who just doesn’t have the time to take care of that property.
Whatever the situation, remember to be respectful and keep in mind that these are people just like you and me.
Approach them in a way you would want to be approached if you were in their shoes.
I know I knock cold calling a lot, but it is a great place to start. Especially for someone who is trying to get their first deal.
To get started, try looking on Zillow in the rental section and call landlords there. I guarantee you will have more success if you call independently owned rental properties rather than commercial owned or a realtor.
You can tell it’s a realtor because they're required to put in their listing they are a realtor. Nice people, but not what you’re looking for!
You want to approach a home listed and owned by someone with just their name.
When you approach these people, ask them if they would be interested in selling the property rather than renting it out to someone.
Disclaimer, there is a 90 percent chance they will say no. That’s OK!
The right thing to do then is to follow up with them and ask if they have any problem properties they’re trying to sell.
This will get them thinking about “that one tenet” who breaks windows, is always late on paying rent, or something like that.
Engage the landlord in a conversation to get them thinking. This will help you find the property you’re hoping to take off their hands and use in your first deal.
Want More Help? Let’s Meet
I hope that helps you guys land your first deal!
The important thing to remember is - don’t get discouraged!
You’re not alone in this, find a community to help you out! Network with someone who can help you land that first deal!
In fact, if you want an opportunity to network with others - myself included, I’d encourage you to attend our Astroflipping Mastermind ‘22 event!
It’s a great opportunity to learn how to improve your skills as a wholesaler, network with other like-minded people, and put together the pieces to establish yourself on your Astroflipping journey!
I hope to see you there!