They Call Me Mr Wholesaler

Scott Costello Blog 26 Comments

I am pleased to announce that Lance and I have officially closed our first deal!  My partner is in route to the closing company now to pick up our checks.

Never having done a deal before, but reading so many stories of other people and their deals, this has been fairly straight forward and textbook.  The only slight wrinkles in the entire process were making sure that the daughter of the owner had the proper power-of-attorney and our first buyer backing out a few days after he said he wanted the deal.  Other then that it could not have gone smoother.

Here are the details to the deal…

It was far from a home run deal, but none the less it was a great first deal.  My confidence in the entire wholesaling process has increased greatly that is for sure.  Over the past few months I’ve been wondering if I will ever find a deal and then this one came out of the blue.

For anyone who is just getting started, or have been at it for a while and have nothing to show for it, just keep at it.  I started looking for my first wholesale deal over 2 years and finally found this one.   Much of the blame for why it took me so long can be put squarely on my shoulders, but also because I work a full time job and progress is much slower when that is the case.

HAPPY DAY!

P.S.  If you haven’t voted for my blog in the REIClub.com REI Blog contest, head on over and cast your vote now!

Vote Here

 


Follow me

Comments 26

  1. Congrats, Scott! It’s so nice to hear about your first deal – it’s been great following in your adventures. The first one is always the most memorable and it definitely changes your perspective. Great news! 🙂 

  2. OH MY GOSH!!!  Scott that is awesome!  I’m so happy for you.  Way to keep going until you got yourself a deal.  They say the first one is the hardest….now go get you another one!  Congrats!

  3. Your website is very good. It is hard to believe that you are a struggling investor. Who created your website?  Do you know who helped you get a pagerank of two?   I just created a new website to help me get motivated seller leads. At least I hope so. Do you have a website that works in getting motivated seller leads?   My site is at http://www.wecansellahomefast.com . I hope it generates leads for me.

    1. Hi Gordon,

      I actually created the website myself with the help of wordpress of course. I didn’t have anyone help me get a PR2, it is just from posting for a few years and having other higher ranked sites link back to me.

      To answer your other question, I don’t really have a website to pull in leads just yet. I’ve messed around in that area but with my lack of time, my time is better put to sending out direct mail.

  4. Pingback: Lesson Learned: Order of Contracts

  5. Rock on, Scott! The first deal is the confidence booster which propels the next one…and on and on.

    Regarding setting up a website to capture real estate investing leads…I like to keep it simple. Endless scrolling squeeze pages work for certain niches/products, but not for capturing investors’ info. I’m getting a decent conversion rate with an above the fold page with an intro video. Check it out: http://www.cheaphousesbigprofits.com

    As for the all-important autoresponder, you could drop $20/mo on one of the biggies, but I’d rather invest that in a couple bottles of “good” wine. 😉

    Here’s my DIY Autoresponder Recipe (this system assumes you have a domain with hosting):

    1. Log-in to your domain’s CPANEL Admin Interface
    1. Set up a new email address for subscribers (ex. subscribe@yourdomain.com) and one for lily livered opt-outters (ex. unsubscribe@yourdomain.com)
    2. Set up an autoresponder to auto reply to all incoming mail from “subscribe@yourdomain.com”. Craft a strong message. If you have a value added enticement, include the download link. Make sure to inform subs how to unsubscribe (send email to “unsubscribe@yourdomain.com”).
    3. You’ll need a form to capture Name & Email on your squeeze page. Depending how code savvy you are, there are numerous options. Google “form to email” for some free HTML solutions and “contact form wordpress” for, yup, WordPress options. Ideally, you want to place a contact widget on the right sidebar of your page. Don’t ask for too much info. Name and email converts best!
    4. Set up your form-to-email plugin/code to send the info to “subscribe@yourdomain.com”.
    5. Voila! You’ve got yourself a low rent autoresponder! Over time, as your biz/list grows, you should invest in a pro solution. But for newbies, this works very well!

    To our real estate investing success!
    Jeff MacIntyre
    Emmy Winning Investor
    http://www.cheaphousesbigprofits.com

  6. Congrats on the first deal Scott.

    I’ve been trying to figure out a plan to start marketing deals, and like you, my full time jobs is in engineering (not software though). The biggest thing I’m afraid of is not getting a deal after 8 months, a year, or even two years.
    Any advice for me from someone who has been through the steps?

    1. Post
      Author

      John,

      You just have to do it man. Don’t be afraid of failure, you have to embrace it and learn from it. My greatest knowledge comes from working through obstacles that are preventing me from getting what I want.

      Sometimes it’s better for your first deal to take a long time to come, because when it does come you are more prepared for it.

Leave a Reply

Your email address will not be published. Required fields are marked *