Wholesaling Real Estate: How Long Does it Take To Get Your First Deal?

Happy Friday, everybody- I’ve got a brand new Q&A Friday video for ya today!

This week I answer a few questions from a newbie wholesaler who wants to know how long it should take to get her first deal closed and what she can do to speed up the process.

Although there’s no way to tell exactly how long it will take each individual person to get their first deal under their belt…there are definitely some actions you can implement to ensure that you get that first check in your hands sooner rather than later!

Check out the video and see for yourself…

Enjoy, and have a fabulous weekend!

-Steph :)

  1. On November 18, 2016 at 1:42pm, Real Estate Rachel said...

    I swear sometimes you read my mind Steph!
    I was just thinking today that I feel like it’s taking me forever to get a deal. I’ve been studying my market and my farm area like you’ve suggested in your other videos but I still don’t feel like I’m ready to talk to sellers or make offers.
    It’s good to know that other struggle through this learning curve as well.
    Thanks again for another inspiring video. Please keep them coming!
    Rachel

    • On November 19, 2016 at 7:36am, Stephani said...

      Hi Rachel,

      Like I said in the video- I had a heck of a time getting the ball rolling, but I stuck with it and eventually things fell into place.

      It’s great that you are putting in the time to do your market research- just don’t let the feeling of not being ready keep you from actually getting out there and talking to sellers/making offers.

      Thanks for stopping by and commenting- glad to hear you’re enjoying the videos!
      -Steph

  2. On November 18, 2016 at 2:26pm, Jim said...

    Going on 22 months, and still no deal. Beyond frustrating. Spent over $3000 on marketing, made 150+ offers, zero deals. Everyone preaches about “not giving up”, but seriously….!?!? Everyone has a breaking point (give-up point), in particular when you have a much better, much more viable alternative (my job) that pays much better and actually provides some ROI.

    Any comment?

    Best regards.

    • On November 19, 2016 at 7:50am, Stephani said...

      Hi Jim,

      Sorry to hear you’re having such a tough time.
      What type of marketing are you doing and how often?
      What market are you in?

      Without knowing anything else about your situation, the one suggestion I’d
      make just from what you wrote would be to ramp up your offers. 150 offers in 22 months isn’t
      really that many. At the very minimum, I’d shoot to make at least one/day (at the very minimum). When I was just starting out and making offers on REO properties, I’d try to make ten offers every single day at a minimum. I ended up making over 100 offers before I got my first REO deal, but as I learned to make smarter offers, it took me less and less offers to get a deal.

      One thing I’d like to mention, too, is that I ended up quitting my job so I had no income to fall back on and I HAD to get deals closed or I was gonna be out on the streets. You’d be surprised at how resourceful and productive you can be when your back is up against the wall. I’m not suggesting that you quit your job, just saying that sometimes when you have that nice comfortable income to fall back on, that you don’t really put forth 100% of the effort that you would if you were depending on a deal to survive. Just food for thought. :)

      Steph