Virtual Wholesaling 7 day countdown *Final Results*

Final Results!

Today is 7/8/2010 so let me share with you the final results to my 7 day wholesaling countdown. This challenge deadline is  today Friday 7/9/2010.  Can you hear the Rocky theme song? I can, its ringing in my ears. So to quote from one of my all time favorite movies….

“Get up you son of a bitch! Cuz Mickey loves ya!”  ~Mickey Goldall (the movie Rocky)

My initial goal on 6/30/2010 was to complete a wholesale deal within 7 days or less in a state and market I have never stepped foot in. Another caveat was that this would be done using social media and use my contacts from there to get this accomplished.

Just a note… This post is simply me giving people hope that from scratch you can put together a deal from anywhere in the country. This is to give hope to someone who really hates having a J.O.B and wants a way out!  Please do not over complicate things, its much simpler than you think.

Well lets cut to the chase…

DEAL IS DONE!!

From Hawaii to Memphis, we put together a virtual wholesale deal from scratch. And when I say “we” I mean a team. More specifically my partnership with Greg Harris from TheWholesaleKnockoutKing.

Here are the nuts and bolts of this deal. (basic version)

• Set a goal to achieve this in 7 days
• Wrote my goal down via this blog
• Created a plan (blog)
• Created my buyers list by spending many late hours consolidating my contacts I have made through Twitter, Biggerpockets, Linkedin, Plaxo, and all the groups associated with these sites.
• Made a list of all the hard money and private money people I know in the Memphis area
• Got a call from Greg Harris who wanted to collaborate our resources and vision for Memphis
• We found a landlord with a large portfolio that needed to liquidate
• Placed one of the  properties under contract
• Sent an email, tweeted, posted it on Linkedin, made some calls, and sent everyone to the Sellpoint page that Greg setup
• Within minutes had over 60 views to the property
• Had an offer made and accepted on the 6th day!! Earnest money being deposited right now!!!! For a “tad” more than we asked for.

You might be saying..

“Oh thats great and all, but he probably was sandbagging this deal”   Answer: NOPE

“Yeah, they already had well established connections ready to go”  Answer: NOPE

“Yeah, but….NOPE  Zip it!

Things I learned and could of done better:

• I created an investor buyer list of 180+ in a few days. Actually I had them lingering in all my social networks, I just never consolidated all of them and looked at the value of what I had.  Having a list of people that know, like and trust you is much more effective than having just a list. Finding out exactly what your buyers want, and delivering it.
• Learned that you can buy a house in Memphis for less than what I paid for my car
• my opinion Linkedin and Biggerpockets are the BEST sites where you can connect with solid investor buyers. You just need to be saavy about the approach and use all the proper social media engagement rules. And not be spamming idiot. Linkedin groups has a ton of available resources.
• Visit the investor’s blogs that you find on social networks. Many of them will blog about the types of properties they are looking for and that are currently in the works.
• Partnering with the right wholesaler with the same vision can be very fruitful if your partnered up with the right people. Greg Harris from TheWholesaleKnockoutKing and I have collaborated our goals and resources. I am very thankful for Greg, and highly recommend connecting with him if you are serious. I can honestly say if you are looking for a real estate mentor Greg is the man for that. There is a huge difference in getting mentorship from a seminar gur
• FOCUS on the task at hand. And not get tied up in social media, webinars, opting in to everything, or just anything that has nothing to do with the task at hand.
• Of course, progress into direct mail, bandit signs, advertisements, birddogs and a clear website presence.
• Some sites that you might like that I found useful. GoSection8, Zilpy.com, Rentometer, SpotCrime.Com

Thanks again for all my awesome team members!!

P.S I have some huge FREEBIES coming down the line for you. All you gotta do is opt in for the newsletter. Top right…yeah I know you see it! Plus..you want to make $$ don’t you? Sign up, and get updates on properties that can make your pockets burst with cash.