"My wife and I took a 5 day vacation. While we were gone our dispositions manager locked down 4 contracts, our top deal finders added 30 properties to Deal Machine, our VA made a bunch of calls and set up 2 appointments. I locked down 2 JV deals driving back today. Man we’re small but our team is legit. We are super happy and proud!" That's a post our guest Phillip Placencia made in the DealMachine Community group in 2019. We check in with him today. This is the podcast for 10xing your income and replacing your W2 with wholesaling real estate, a strategy where you make big checks for finding run down houses. Our guest also shares a framework for addressing a large gap in offer price vs what the seller will accept that you won't want to miss. In this conversation, David Lecko interviews Phillip Placencia, a successful wholesaler. Phillip shares his experience of making $7,500 on his first wholesale deal and provides valuable insights into negotiating with sellers and addressing price gaps. He emphasizes the importance of building trust and providing value to sellers. Phillip also discusses his transition from corporate America to full-time real estate investing and the growth of his business. He highlights the benefits of starting with wholesaling and shares his future plans for a development company and a tiny home community. Takeaways • Wholesaling is a great way to start in real estate as it teaches sales and marketing skills, negotiation, and the legalities of real estate. • Building trust and providing value to sellers is crucial in negotiations. • Hiring the right team members is essential for scaling a wholesaling business. • Social media, especially platforms like Facebook, can be a powerful tool for building a brand and generating referrals. • Wholesaling can be a stepping stone to other real estate ventures, such as development projects. Chapters 00:00 Introduction and First Wholesale Deal 01:34 Making Offers and Negotiating with Sellers 04:17 Providing Value to Sellers 06:15 Addressing a Large Gap in Offer Price 08:12 Preventing Disappointment for Sellers 10:28 Transitioning from Corporate America to Wholesaling 12:57 Hiring and Building a Team 15:26 Future Plans and Expansion 20:40 Starting with Wholesaling 23:18 Possibility of Meeting in Person David's Social: @dlecko https://www.dealmachine.com/pod Ryan's Social: @heritage_home_investments https://www.heritagehomeinvestments.com/
In this conversation, David Lecko interviews Phillip Placencia, a successful wholesaler. Phillip shares his experience of making $7,500 on his first wholesale deal and provides valuable insights into negotiating with sellers and addressing price gaps. He emphasizes the importance of building trust and providing value to sellers. Phillip also discusses his transition from corporate America to full-time real estate investing and the growth of his business. He highlights the benefits of starting with wholesaling and shares his future plans for a development company and a tiny home community.
Takeaways
• Wholesaling is a great way to start in real estate as it teaches sales and marketing skills, negotiation, and the legalities of real estate.
• Building trust and providing value to sellers is crucial in negotiations.
• Hiring the right team members is essential for scaling a wholesaling business.
• Social media, especially platforms like Facebook, can be a powerful tool for building a brand and generating referrals.
• Wholesaling can be a stepping stone to other real estate ventures, such as development projects.
Chapters
00:00 Introduction and First Wholesale Deal
01:34 Making Offers and Negotiating with Sellers
04:17 Providing Value to Sellers
06:15 Addressing a Large Gap in Offer Price
08:12 Preventing Disappointment for Sellers
10:28 Transitioning from Corporate America to Wholesaling
12:57 Hiring and Building a Team
15:26 Future Plans and Expansion
20:40 Starting with Wholesaling
23:18 Possibility of Meeting in Person
David's Social: @dlecko
https://www.dealmachine.com/pod
Ryan's Social: @heritage_home_investments https://www.heritagehomeinvestments.com/