Henry's $5,000 Wholesaling Win: How You Can Do It Too!
Henry from Vietnam just scored his first deal for $5,000, and we’re here to spill the tea on how he did it! We teamed up to wholesale this gem, and let me tell you, it’s a wild ride of Facebook groups and savvy negotiations. We dive deep into the nitty-gritty of the deal, including how Henry connected with a motivated seller and how I helped him seal the deal with some creative financing magic. If you’re sitting there thinking, “How do I get my first deal?” then you’re in the right place, ‘cause we’re breaking it all down for you. So, grab your snacks and let’s get into it!
How Henry Made $5K Wholesaling His First Deal💰
Visit https://www.paynelessflipping.com to learn how to do real estate deals the payneless way!
A fresh success story just rolled in from Vietnam! Henry, one of my star students, snagged his first real estate deal and pocketed a cool $5,000. Can you believe it? We teamed up, tackled the ins and outs of wholesaling, and I’m here to spill the beans on how we made it happen. I’ll share how I first met Henry, the strategies we used, and of course, the juicy details from our interview. This isn’t just about celebrating Henry’s win; it’s about you too! If you’ve been sitting on the sidelines, wondering how to kickstart your own journey in real estate, you’re in luck. We’re breaking down the steps Henry took, from diving into Facebook groups to hustling with motivated sellers. Seriously, if this info can help you land your first deal, give us a thumbs up! Let’s go on this wild ride together – if Henry can do it, so can you!
Takeaways:
- Henry from Vietnam just bagged a $5,000 deal, and we helped him get it!
- Networking on Facebook groups is a solid way to find real estate deals, trust me.
- Taking action is key; don't let fear stop you from making that first move, yo!
- You can totally fail a bunch, but keep hustling and success will come your way eventually.
- Getting tight with buyers can lead to creative deals, like equity in properties, word!
- If Henry can score a deal, so can you—just start talking to people, for real!
Links referenced in this episode:
Companies mentioned in this episode:
- Airbnb
Transcript
Today we're going to be going over how one of my students, Henry, from Vietnam, just got his first deal for $5,000.
Speaker A:He wholesaled it, and I helped him out.
Speaker A:We worked on it together.
Speaker A:So we're going to be breaking it down and actually have an interview where I had with Henry.
Speaker A:We dived in deeper.
Speaker A:So I'm just going to kind of tell you a little bit about how I met Henry, how he worked this deal, and we're going to dive into the live that I had with him.
Speaker A:And please, please, if you find this information helpful to helping you get your first deal, please, like this video.
Speaker A:Let's dive.
Speaker B:So not only are we going to.
Speaker A:Dive into how Henry got his first deal, but I want to talk to you about how you can get your first deal.
Speaker C:Okay?
Speaker A:So let's actually dive into that first.
Speaker A:So if you're watching this, you're like, man, I have not got my first deal.
Speaker A:I don't know how to do it.
Speaker A:Well, let's talk about how Henry did and how you can do it, too.
Speaker A:Henry went on Facebook groups that he just searched.
Speaker A:That's what I told him.
Speaker A:I said, henry, go to Facebook groups on Facebook that are for real estate investors.
Speaker A:So type in sell.
Speaker A:You know, Atlanta real estate investor groups, Utah real estate investor groups, Missouri, St. Louis, whatever, just real estate investors.
Speaker A:And then you will find tons of groups.
Speaker A:What you're going to do is you're going to look for those for other wholesalers, other people that need to find buyers, and you're going to have buyers or you're going to look for opportunities where people are trying to sell their properties.
Speaker A:A lot of investors who can't sell their own properties put their properties on there.
Speaker A:And that's exactly what happened to Henry.
Speaker A:Henry had a seller that was an investor that had listed her property, and she did not know how to.
Speaker A:She didn't.
Speaker A:She wasn't able to sell it online.
Speaker A:She had listed it, but she wasn't getting the offer she wanted.
Speaker A:Henry called her, and she had motivation, and he said, hey, Nate, I'm a little new to this.
Speaker A:Can you talk to her?
Speaker A:And I was able to talk to her, and I have experience with dealing with, subject to and negotiating deals.
Speaker A:So I called her, and we were able to get the deal done.
Speaker A:We were able to network and strategize with her.
Speaker A:And she was an investor, so she understood the lingo.
Speaker A:We were able to network and talk with her about, like, the best ways to move forward.
Speaker A:And we agreed to take over her mortgage, do a subject to Deal.
Speaker A:And now because of that deal, I was able to give Henry, you know, me and him were able to split the wholesale fee, and I was able to assign it to one of my buyers that I know.
Speaker A:And because I'm tight with him, again, paying this wholesale, you want to get tight with your buyers?
Speaker A:He's like, hey, Nate, I wish I could pay a little bit more than 5k, but how about this?
Speaker A:I'll give you a little bit of equity ownership in the property that now is currently Airbnb in Florida.
Speaker A:He said, I'll give you some of the equity ownership in that property, and you can get paid that way.
Speaker A:So now, instead of just wholesaling the deal and just being done with it, I actually own a portion of that deal and get paid on it every time there's profit.
Speaker A:And we just.
Speaker A:Honestly, we just close this deal.
Speaker A:So we put some money into it.
Speaker A:Haven't made any money off of it yet, but we get the rent every month.
Speaker A:I'm gonna get a portion of that, the profit.
Speaker A:So that's what happened with this deal.
Speaker A:Now, if you want to get deals, go to Facebook groups, look for opportunities.
Speaker A:Just call people.
Speaker A:You're not going to know everything, but you have to take action.
Speaker A:You have to start talking to people and learning your way.
Speaker A:And obviously, if you don't know what you're doing, go to my real estate Facebook group, painless wholesaling group.
Speaker A:I want you to go to it right now and join it.
Speaker A:Pause this video.
Speaker A:Join it, because we're going to have many opportunities for you to bring those deals to people in the community.
Speaker A:And you can go to my free masterclass.
Speaker A:But check that out.
Speaker A:But that's.
Speaker A:That's how Henry did it.
Speaker C:That's.
Speaker A:That's just kind of in a nutshell, how he was able to get the deal.
Speaker A:But let's dive right into his interview I had with him so you can learn that if Henry can do it, if I can do it, you can do it.
Speaker A:Let's dive right in.
Speaker B:So, Henry, what is up, dude?
Speaker C:What's up, Nathan?
Speaker C:Thank you for having me in the boss guest.
Speaker B:Dude, I am so happy that you're on this podcast with me, man, because when you.
Speaker B:When we started working together, I knew you were going to get a deal, bro.
Speaker B:I just knew it because I said, this dude ain't gonna give up.
Speaker B:He's gonna work hard.
Speaker B:And that's exactly what you do, man.
Speaker B:Is that.
Speaker B:Is that something that you've always done your whole life is just.
Speaker B:You're just.
Speaker B:You go for something you want, and you work really hard at it.
Speaker B:Yeah.
Speaker C:So I. I just go for it.
Speaker C:Like, so.
Speaker C:So when I was young, I'm.
Speaker C:I'm just thinking about that and then not taking the action at all.
Speaker C:So right now, I'm just go straight in, take an action.
Speaker C:That's it.
Speaker B:Dude, I love it, man.
Speaker B:What do you got to say for all the people out there that kind of find a little scary to take action?
Speaker B:They've been watching videos, and they just haven't done anything because maybe it's difficult.
Speaker C:Yeah.
Speaker C:So.
Speaker C:So to be honest with you.
Speaker C:Right.
Speaker C:So.
Speaker C:So don't be.
Speaker C:Don't be afraid to take action.
Speaker C:You can be failed sometime.
Speaker C:You can fail a lot, but the outcome is, like, you.
Speaker C:You know that you try your best, and then the good thing will come to you.
Speaker C:Man.
Speaker B:That's some dang good advice.
Speaker B:That's awesome.
Speaker B:So.
Speaker B:Because you know you're gonna fail, Henry.
Speaker B:I fail all the time, man.
Speaker B:When I make offers, I don't get every offer accepted.
Speaker B:Not even close.
Speaker B:I wish.
Speaker C:Yeah.
Speaker C:So I also get a lot of a rejection on my offer, too.
Speaker B:Does that bother you when you get rejected now, Henry, are you.
Speaker B:Have you developed that.
Speaker B:That tough skin already and you're like, who cares?
Speaker C:Yeah.
Speaker C:So.
Speaker C:So the first time, I'm trying to wholesaling.
Speaker C:Right.
Speaker C:And then.
Speaker C:So all of my offer got a rejected.
Speaker C:So I'm.
Speaker C:I'm kind of a gear Friday.
Speaker C:But I know, like, if I keep making a lot of offer, then I know one will be accepted.
Speaker B:100.
Speaker B:So, Henry, let's.
Speaker B:Let's dive into your life and where you're from, because we've talked a little bit, but I've never really asked you too much about, like, your history and how you got started.
Speaker B:So, Henry, tell the audience a little bit about yourself, like, where you're from, you know what you're up to.
Speaker B:Yeah.
Speaker B:Let everybody know a little bit about Henry.
Speaker C:So.
Speaker C:So I'm.
Speaker C: I've been here in the US for: Speaker C:So this is my hometown.
Speaker B:Wow.
Speaker B:So, Henry, what made you want to come to the United States?
Speaker B:So if you lived in Vietnam?
Speaker C:All right, so my family.
Speaker C:So they.
Speaker C:They've been in the US and then my grandpa, they.
Speaker C:They bring my family here.
Speaker B:Wow.
Speaker B:Okay.
Speaker B:So you had family here, so that's why you decided to move, right?
Speaker C:Yep.
Speaker B:Was it a difficult move for you to make to move from Vietnam to the United States?
Speaker C:Not at all.
Speaker C:So this is a Newer adventure of me.
Speaker C:Yeah.
Speaker C:To be in the newer country, new opportunity.
Speaker B:That's amazing.
Speaker B:Do you miss Vietnam at all?
Speaker B:Do you go back and visit?
Speaker C:So let's say so my, my uncle and then my honor, they, they have been come back to Vietnam and then I'm.
Speaker C:I haven't back in Vietnam yet, but that's my goal in the future.
Speaker C:I will be back in Vietnam.
Speaker B:Oh, you want to go back.
Speaker B:Okay, that's amazing.
Speaker C:Yeah.
Speaker B:So I know we, I asked you this before, but let's tell the audience again.
Speaker B:So Henry, why did you want to get into real estate?
Speaker B:You know, you came from Vietnam, now you're in the United States, you've been here for a couple years.
Speaker B:What, what made you want to get into real estate?
Speaker C:So my, my uncle had been invested in real estate for long term and then he really successful with that and then he now become a landlord.
Speaker C:So I'm trying to follow him with his success.
Speaker B:And he's an investor, you're saying is he in Houston or where does he have his rentals?
Speaker C:Yeah, so he investor in Houston also.
Speaker B:Okay, awesome.
Speaker B:And you ask him for a lot of advice.
Speaker B:Do you talk to him a lot about real estate?
Speaker C:Yes, he really busy so he doesn't give me any much of the advice.
Speaker C:Basically I try to learn everything for myself.
Speaker B:Okay, and tell me how you got into wholesaling.
Speaker B:I know again I asked you this before, but how did you come into wholesaling versus just doing another strategy?
Speaker C:So I'm a research on Google how to invest in real estate with no money at all.
Speaker C:And then the first thing pop up on Google ear wholesaling.
Speaker C:And then after that I'm watching a YouTube channel from Jerry Norton base Moby and then another big guy in wholesaling.
Speaker C:And then I, I decided I will give it, give it a try.
Speaker B:And you just start.
Speaker B:You just gave it a try, just like that, huh?
Speaker C:Yep.
Speaker B:That's amazing.
Speaker B:What was your first experience?
Speaker B:Like what, what were you doing at first to try wholesaling.
Speaker B:What were you doing first?
Speaker C:So I have my first try on wholesaling.
Speaker C:Yeah.
Speaker C:Basically I do do exactly the same thing that the YouTuber that I telling everyone.
Speaker C:So like pulling a list of off market property and then skip three and then, and then call and then make offer with that.
Speaker B:And did it work for you?
Speaker B:Did that work for you?
Speaker C:Not at all.
Speaker B:Yeah.
Speaker C:So this is my first mistake right there.
Speaker B:Yeah.
Speaker B:Well, tell me about, tell us, tell this audience about your, your experience doing that of pulling a list, skip tracing, calling it how did it Go.
Speaker C:So it.
Speaker C:It's got a lot of money for me to.
Speaker C:To.
Speaker C:To be.
Speaker C:To be doing that.
Speaker C:So I. I hope I. I try to host here for more than half a year and then it gets in.
Speaker C:No.
Speaker C:No result at all.
Speaker C:So I'm somehow I'll give up.
Speaker C:And then I guess a Delph.
Speaker C:Is it really working?
Speaker C:Yeah.
Speaker C:Yeah.
Speaker B:So you're starting to doubt because you skipped trace.
Speaker B:You called list and it wasn't working.
Speaker B:You spent a lot of money, Is that what you're saying?
Speaker C:That's right.
Speaker B:You know, and Henry, what I teach is I say, hey, look, if you're brand new to wholesaling, don't go out and spend a ton of money on marketing.
Speaker B:There's so many opportunities that are on the MLS that are from other wholesalers.
Speaker B:If you can get in tight with buyers and you know your market, you know your area, you can find deals without spending any money.
Speaker B:And that's exactly what we did on the deal that you.
Speaker B:Your first wholesale deal, right?
Speaker C:That's right.
Speaker B:So tell everybody that's watching how you got your.
Speaker B:How you found this opportunity on this deal that we.
Speaker B:We were able to wholesale together.
Speaker C:So I. I fire my first deals by.
Speaker C:So one time I'm on Facebook, right?
Speaker C:I'm in the real estate investment group.
Speaker C:And then there is one lady, she bought that she.
Speaker C:She tired of doing the Airbnb rental, and then she.
Speaker C:She decided to sell all of her property.
Speaker C:And then she looking for a realtor.
Speaker C:And then, so, So I, I decided, I text her that I can sell.
Speaker C:Sell her property at her asking price without a realtor, so she doesn't have to pay any commission at all.
Speaker C:And then I see, she.
Speaker C:She told me, all right, I will let you do that.
Speaker B:Wow.
Speaker B:Wow.
Speaker C:Yeah.
Speaker B:So, Henry, if I understand you went on Facebook groups that were strictly for real estate investors, and the seller were posted on there that she was looking for an agent.
Speaker B:Is that correct?
Speaker C:That's right.
Speaker B:And you said, hey, I can work with you where you don't have to pay any commissions.
Speaker B:And.
Speaker B:And that's what happened, correct?
Speaker C:Yep.
Speaker B:And then what happened after that?
Speaker B:So you texted her and she said, yes, that's fine.
Speaker B:So what was the next step?
Speaker B:What did you do?
Speaker C:Okay, so.
Speaker C:So the next step, she.
Speaker C:She sent me her property address is a.
Speaker C:All the way in Florida.
Speaker C:And then.
Speaker C:So I, I decided I. I had no experience wholesaler outside of.
Speaker C:Of Houston.
Speaker C:So I reached out to you, Nathan, and then asked that you can JV with me on this deal.
Speaker C:And then we, We.
Speaker C:We wholesale Outsley.
Speaker B:There you go.
Speaker B:Just bada bing, bada boom, Right?
Speaker B:Just like that.
Speaker B:So you found this lead on Facebook without having to spend any money, and.
Speaker B:And then you.
Speaker B:You found out that she was willing to sell for cash, and then you, you gave it to me, and then I called her, and then I started negotiating.
Speaker B:Is that kind of the.
Speaker B:The.
Speaker B:The gist of the story?
Speaker C:Yep, that's right.
Speaker C:And then you, you call her and then you negotiate everything live on.
Speaker C:On a stream.
Speaker C:Yeah, and then I, I was.
Speaker C:You were.
Speaker C:Yeah, I. I listened to everything.
Speaker B:What.
Speaker B:What did you learn from that?
Speaker B:That conversation I had with her.
Speaker C:So she asked him for the retail price, and then I saw.
Speaker C:So there is no way for us to.
Speaker C:To offer her gas offer below the arv.
Speaker C:So, so, so you, you show me one advanced way.
Speaker C:What is it?
Speaker B:Say creative financing.
Speaker C:Yeah, creative finance a little now with a little down payment.
Speaker C:Yeah, and then that's.
Speaker B:That's exactly right.
Speaker B:So everybody that's watching.
Speaker B:So what happened is I called the seller that Henry brought me, and she had some motivation.
Speaker B:There was motivation that she wanted to sell.
Speaker B:She had multiple properties in Florida, she was from California, and she just wanted to get rid of it.
Speaker B:She wanted retail, like, close to retail.
Speaker B:And I told her, like, hey, the only way we're able to buy this property for, you know, close to what you're asking is if we buy it on terms.
Speaker B:If you can give me the terms, I can give you the price.
Speaker B:That's basically what I said.
Speaker B:And she said she was okay with that.
Speaker B:Now, the thing when you make cash offers is they have to be really, really low because you have to have your.
Speaker B:Your holding costs, your hard money costs, all the fees of the flipper that's gonna put the rehab, make his profit, and then resell it.
Speaker B:You have to get it down very low.
Speaker B:This property was an Airbnb already fixed up, already was cash flowing pretty good for her.
Speaker B:She just didn't want it anymore.
Speaker B:So I said, hey, the only way we can do this, if we come into this deal, we can take over your payments and then we can pay you your price in a.
Speaker B:In a balloon payment out in a couple years from now.
Speaker B:And.
Speaker B:But I can't bring any money to the deal because it's just not going to work.
Speaker B:And she said that was okay.
Speaker B:Now, Henry, I've been doing this for a long time.
Speaker B:Not a lot of people are usually open to zero down that I've experienced, but she was.
Speaker B:And it's because she just didn't want the headache of the deal anymore.
Speaker B:She just didn't want it.
Speaker B:So a very interesting situation.
Speaker B:Like I said, I wasn't.
Speaker B:Didn't think she was going to accept that.
Speaker B:But that's why you just have to get on the phone and ask people questions and see what's the best option for them.
Speaker B:You know what I'm saying?
Speaker A:Awesome.
Speaker A:I hope you like that video.
Speaker A:I hope it taught you a lot about how anybody can do anything if they put their mind to it.
Speaker A:If you like this video, please, like, subscribe.
Speaker A:Hit the bell icon so we can grow this channel.
Speaker A:See you next time.
Speaker C:Sam.
