Check out the latest interview with Pro Wholesaler Student, Joe Lechert!
Joe joined the Pro Wholesaler Program about three weeks ago and has already gotten his first wholesale deals under contract. Joe has 2 wholesale deals he plans on closing in October that will bring in $10,000 each for a total profit of $20,000.
Come learn how Joe went from knowing NOTHING about real estate to wholesaling his first real estate deals!
In this interview we cover:
- How Joe has gone from working Uber, Lyft, and driving for Amazon to Wholesaling Houses.
- How Joe was able to find his first wholesale deals and get them under contract.
- How Joe is getting one wholesale real estate deal under contract for every 6 to 7 offers he sends!
- How Joe was able to find cash buyers for his wholesale real estate deals.
- How Joe is anticipating to make $20,000 total from wholesaling two houses for $10,000 each.
- How Joe was able to go from having ZERO real estate experience and work on wholesaling his first real estate deals WITHOUT a real estate license or any money.
- Joe's Golden Nuggets of Wisdom for anyone looking to get started wholesaling real estate!
- Joe's real estate goals moving forward.
- How Joe is easily able to send 1-2 offers a day from utilizing the MLS (Multiple Listing Service).
--- In case you enjoy reading, right below is the transcription of the interview! ---
Alex: Hey Joe, I'm glad to have you in here. Guys, for everyone listening, Joe is a new student in the Pro Wholesaler Program. He joined a few weeks ago. He's getting his first deals under contract and most importantly he's been taking action and so we've had other students come in here and get their first deals under contract in three weeks, but that's not always the case for everyone because that most important part is taking action. Joe is someone who has done that. So, I want to bring him here today to talk about his experience so far about joining Pro Wholesaler, about these deals, how you got them because, like we were just talking about, anyone can do this. It's just about taking that action.
Joe: All right. Yeah, no, I don't know where to start. Joined about three weeks ago, shortly after Labor Day. Grinded through the whole program in about three days. First thing I did just start lining up people for the MLS, got a couple of realtors in my pocket, got MLS access in two different states from the same agent and they actually helped me find one of my first buyers for one of my two deals that I just got started up with.
Joe: I was going to look at the Real Estate Investor Association meetings first, one of the first steps, but that literally happened right before I signed up for the program, so I went down to the next step to MeetUp.com. I found a realtor who wants to work with me. It's helping provide me a couple of buyers right to start up with and been getting a couple other buyers on the way and that was off.
Joe: I found a property that I took a little while to get under contract first. You kind of just negotiating the price at first and that's still in the works. They could actually move out by the end of October, so I'll get that deal later on this month. And I also added another deal under contract as well. That one actually fell through just based on the location of the deal. And it was actually in New Hampshire, so I didn't quite get that one yet. So, found another deal lined up in Massachusetts. House that barely needed any work. I had no business getting it as a wholesale. I just happened to beat everybody else to it. They took a cash offer right away and I'm working on that right now. Should have that done within the next week or so and-
Joe: Yeah. No, this-
Alex: Awesome. It's working.
Joe: Yeah, no. You just got to keep at it. It's not that hard. You just keep working. You just keep throwing down offers and you know, if one out of ten, one out of 15 bites, I mean you would just make two offers a day and you know that should at least get you one a week. I mean-
Joe: I don't know about anybody else.
Alex: Easy enough.
Joe: I sure wasn't making that kind of money. I was driving for Uber and Lyft and Amazon and they don't care about you. They keep cutting our pays and everything. That kind of motivated to find something else. It's no ends to a meat, no means to an end doing that kind of work. I have a four year old car with 200,000 miles. It's laughable. At least now when I'm driving I'll pull that extra mileage and I do do a lot of driving doing this, looking at a lot of properties all over the place. At least I know that I'll be getting more bang for my buck and I'll be able to just go out and buy a new car with a couple of sales if I need to. I can't do that with anything else I've ever done.
Alex: That's powerful man. I'm excited for you to see that because that's what I found when I started eight years ago. I mean my first deal, like we talked about, was $22,000 eight years ago and that was, you know, out of college. People saying, "Oh, if you make $60,000 you're crushing it." Well in one week I made that, you know, one third. One third of that average salary amount. And that's what you're seeing now. And how much are you anticipated to make in October from your wholesale deals you got under contract?
Joe: Yeah, no, I'm making about, I'm making 10,000 on both of them. I am going to spot the realtor a little bit of a finder's fee for helping me out, getting my first buyer on my first deal that I'm going to get paid on because they did help me out with that. And you know, pay it forward. I believe in good karma and you know.
Joe: I'll be doing a lot better than they are. I had a talk with them. They get about 12 sales a year. I mean, I'll be getting that in probably a few months. So, just pay it forward. I'm going to help them out a little bit and yeah.
Alex: Awesome. Yeah, I mean, so important to take care of your network and treat everyone fairly. And I mean, that goes a long, long way when we're treating everyone the right way. You know, it's easier to cut corners. It's easier to go behind someone's back and that's why some people do it. But when we treat everyone the right way we build long term relationships with them. They're going to bring you multiple deals over and over again. So, you're not just focused on this one deal this month, but hey, how can we build, you know, how can we build your deal flow? So, these agents who are doing 12 deals a year, you know, talk to them and say, "Hey, you know, picture, imagine doing 24 deals a year. How does that look with us working together where we can have you do dual representation on each and every deal? You know, and we're both making money along the line." So, you're setting yourself up for a lot of success. I'm proud of you Joe and excited for you.
Alex: And so these two deals about 10,000 each from starting a few weeks ago, looking to make about 20,000 which is pretty impressive. Definitely doable for anyone to do this. And before, you know, three weeks ago before joining, what was your real estate experience before that?
Joe: None. None at all. I was paying $1300 a month in rent. That was the closest thing I had to real estate experience. None at all.
Joe: I've looked into other programs and they just all seemed like scams. They all ask for a whole lot more money and it just seemed like a, I've looked into it but that was the extent of it. Nothing else.
Alex: Yeah. So, wow. I mean, no real estate experience. You know, there's always people who join right away and make it happen and those who take a little bit longer. And so what was your key to the success? I mean obviously an undeniable belief in yourself and that this was going to work. You said you grinded through it in three days. Any other secrets to success for someone who-
Joe: Motivation, man. I just couldn't stand my other jobs. I just couldn't stand not having a savings account. If other people are doing it, why can't I? It's just all that comes down to it. I know how smart I am. I just didn't come up with this idea first. I wish I'd found you years ago. That's it. I just, I've lived a crappy life and so to speak, I wanted my kid to have a better life than I had and I didn't go anywhere. My kid is more well traveled at her being age five than I was up until I was age 30. So, I just want to give her, my wife, a better life. And it just wasn't happening with what I was doing and I needed to make a change and I knew it a long time ago.
Alex: Well, I commend you for putting in the work and using that motivation as fire. You know, when I started, I had a strong why and just want to be able to support my family, you know, forever and not having to worry financially and I feel that I've been able to do that. And so I'm happy you have that strong why and you know about that and commend you for taking action and building yourself a better life and your family. And do you feel like you're on that path now with what you're doing?
Joe: Oh absolutely. Because even then when a deal falls through, you're still that much closer to your next deal. I've already got multi, I've got two appointments set up later on today. I've got more appointments set up tomorrow and I don't have to slave and work seven days a week and work a 80 million hours to just get by. I mean, it's a whole lifestyle change. I can take the work wherever I want it. I can go live my life. It's refreshing.
Alex: Awesome, Joe. Yeah, I'm excited for you. I mean, it's just the beginning. You're just getting started and so with anticipating $20,000 in October, I mean let's start hitting that consistently. 30,000 like you said, you break it down. If you do two offers a day, it should be a lot. 60 offers a month. That can be a deal a week when you break it down and that's what we're able to do here. And I think that's why a lot of people getting started, Joe, a lot of people don't break it down like that and it's hard to keep that effort going like day in, day out when you don't know how many offers it takes to get that next deal. And so really from doing this for eight years, right? We're able break down those numbers. We know the average amounts we should be getting. We know about 15 offers will get us one deal. And so I hope that's help been able to break it down. So, it's almost like a game I like to look at it.
Joe: It hasn't even taken me that many offers honestly. It's maybe six or seven offers gets me a deal depending on the location. If I stay outside of the city, there tends to be less competition. That's what I've been finding. A lot of people stay in that local big city area. I just use the MLS and just make sure I make bids outside of it and I'm more likely to get the deals. At least that's how it seems to me.
Alex: Yeah, I mean that's huge. You're doing six to seven offers to get a deal. It really is different each and every market and that's what I've seen. 15 offers gets you a deal, typically a wholesale deal. It makes you 10,000. So, man, double down, triple down on that. Are you able to do like an offer or two a day right now?
Joe: Yeah, easily.
Joe: Most of the time. I mean there are days where I'd make calls and like I had a call that I was going to go take a look at a place and then they told me it's a tear down and I'm like, "Why didn't you just list that in the listing?" You show me one picture of a house and he had just like, you're marketing the thing like it's a haunted house and it has to be torn down. I ran into that like five times Monday, but most days I'm able to get at least one to two offers easily.
Alex: Awesome man. I mean that's what it takes. It's that consistency. And you know, I've said it a lot before, you're going to close those deals, you're going to get your first deal. And what a lot of people tend to do is that they party, they celebrate and they forget that, Oh, those last four weeks of an offer or two a day got me here. And then they get inconsistent. So, if there's one thing I always say is just you keeping consistent like you're doing. Just keeping consistent those offers.
Joe: Nothing wrong with partying. Just make sure to make double the offers the next day.
Alex: Right? Right. Yeah. You go party. You could hold the offers for a little bit, but then double the offers the next week. Absolutely.
Alex: Awesome man. And Joe, I mean, thanks for sharing so much. I mean hitting those points, you've been motivated. You did everything step by step. You're following Pro Wholesaler, you've got multiple deals under contract. They all haven't worked out so far but you got two really good ones lined up for October to close. With our average wholesale fee amount we see a 10,000. So, looking about making 20,000 a profit, give or take in October. You know, one thing that-
Joe: I'm looking at even a better one. I'm just waiting to hear back from the agent. It's been a couple of days looking for one that I think I can make about 20,000 on. It's a foreclosure down the street from me. Just waiting to hear back, but...
Joe: They actually priced the thing well below the value it should have been. I offered them just about what they were, or a little bit more than what they were asking for because I figured everyone's going to bid what they're asking for with the ARB. So, it's, you just got to realize that kind of stuff ahead of time though.
Joe: Like the ARV on the house is like 230, 240 it's at 100 and it needs about 40 grand worth of work. I mean I think I could make a little bit of extra money on that one, so.
Alex: There's some room in there.
Joe: Oh yeah, definitely.
Alex: Awesome. Awesome. And you know, Joe, we're just getting started here. You're just getting started. You're seeing a lot of success. Where do you want to take this thing? What do you want to do with it? Because the sky's the limit.
Joe: Let's see. You made about a million after your first year?
Joe: I've got some catching up to do, but I think I could pull that off.
Alex: I think so too if you keep up the pace. You know, that first year I worked the hardest I've ever worked and talk about my offer goal was about five offers a day, you know? And that's what it takes.
Joe: I'll get there. Well, once I get my first paycheck, that's where I'm heading though. Seriously. Do that five days a week. Take the other two off to party as you said.
Alex: Yep. Party, everything in moderation, everything in moderation. But absolutely it's a consistency.
Alex: And man, any other golden nuggets you want to share? You've shared a lot already and I really wanted to hit on these points. You know, I really wanted to talk with you, Joe, to congratulate you on your success. You've done the work, you're putting in the work, you're being consistent, you're seeing the results extremely quickly within 21 days. And I want other people to be able to see that, because you don't need to be a rocket scientist. I'm not a rocket scientist. You're probably a lot smarter than me. All I've done is I've just focused on something, wholesaling and flipping real estate. What I like to think more so than a lot of other people and being able to systemize it and help a lot of other people to do it as well and achieve those results. That's all it is. I've just worked at something more than someone else. So, I just want to ask you if there's any other golden nuggets, any tips? We went over a lot.
Joe: Yeah. You know, it's how bad do you want it? That's just all it comes down to. Making a change. Do you want to change your life? Everything is there for you. It's, you know, do you just keep trying? Someone says, "No," you just keep going. You just find another way.
Alex: That's it.
Joe: Nothing really. It's nothing really special here. You just got to want it. That's all there is to it.
Alex: Absolutely. Couldn't have said it better myself man. Joe, so proud of you. Once again, for everyone who's listening in, Joe just joined Pro Wholesaler three weeks ago. He's got multiple deals under contract looking to make about $20,000 of profit in October. Sky's the limit. He's got the goal of $1 million this year, 12 months, the next 12 months.
Joe: Well, 12 months, yeah.
Alex: 12 months, 12 months. Not this last quarter. So, I'm looking forward to helping you do that and working with you and every step along the way. And I've no doubt that you're going to achieve that whatsoever with you put in the work, when you put in the work.
Joe: Absolutely. Appreciate it, man.
Alex: Yeah, of course, Joe. All right, I'll see you, man.
Joe: Thank you.
Now that you've learned that wholesaling & flipping houses without using any of your own money is possible, it's time to take some action and bring yourself to making it happen!
If wholesaling houses is something you want to do, and you're serious about changing your life and your business for the better by flipping houses in your neighborhood, then you need a step by step system to follow to take action.
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