Where I Got Started

Michael Kimble First Deal Where I Got Started
The story of my first wholesale real estate deal…
If you’re interested in earning money part-time for simply finding and wholesaling houses… here’s  how I made $6,000 — in less than 2 short weeks — on the very first house I ever found…I remember it like it was yesterday.I received a call from a very nice lady in Dallas, Texas who responded to one of my cheap little ads that “find” houses for me.

Her name was Alice.

To Alice, this house was a “problem” that was costing her money (taxes, insurance, maintenance, etc.)… and she desperately wanted to get rid of it.  (She was a motivated seller.)

So she saw my little ad and called my telephone number that was in the ad.

I spent approximately 10 minutes on the phone talking with Alice about her vacant house (using a simple phone script I created.)

Then, after making a couple of quick, simple calculations (which I can show you how to do)… I made her a “cash offer” for her house.  (A cash offer that I will not pay… my buyer will pay it.)

She agreed to my offer right over the phone!  Even though my offer was way below the fair market value of the house, she was excited and relieved to be getting rid of her “problem”… as most people are who respond to my ads.

(After I ended my conversation with Alice, I immediately called my wife on her cell phone to tell her the great news!  This was my first “wholesale deal” as a “finder”!  I was pretty excited about how easy this was!)

I then sent Alice a simple one-page contract to sign that allowed me to “take control” of her house.  This one-page document allowed me to get her house under contract… without putting any money down, and without using any credit whatsoever!

Once I received the signed contract back from Alice, I was now in a position to offer (“sell”) her house to a group of professional investor-buyers (which I will talk about another day).

I offered the house to the investors for $6,000 more than I got it under contract for.  (The $6,000 is my “finder’s fee” or “assignment fee”, if you will… and I simply added that fee to the price Alice agreed to sell for.)

The very same day I offered the house to the investors, it was sold for my asking price!  (And get this… I didn’t even talk with the buyer!)

I then sent another simple one-page document (an Assignment Agreement) to the buyer which states he will pay cash for the house (the amount I got it under contract for)… plus pay my $6,000 finder’s fee (which he is happy to pay because I found an investment property he wants at a very good discounted price).

One week after the investor-buyer agreed to buy the house, he closed on it at a title company.

Alice received a Cashier’s Check for the full amount she agreed to sell it to me for… and the title company FedExed me a Cashier’s Check for my $6,000 finder’s fee (assignment fee).

Alice was extremely happy (she just got rid of a house that was a problem to her)… the investor-buyer was happy (because he just bought a house way below its fair market value — that he can now sell for a profit or rent out)… and I’m happy because I just made a quick and easy six grand!

A true win-win-win!

Basically, all I did was find a house (actually, my ad did it for me) and then “flipped a piece of paper” — the contract — to the buyer.  The buyer bought the house and I got paid!

(Also, I want to mention that I never saw the house.  I live in Austin and this house was 200 miles away in Dallas!  Using my methods and “tools” I teach on this blog… you can also do these types of transactions anywhere you want in the country, without ever seeing the houses!)

These kinds of deals are everywhere right now.  And what you just read is how the process — my process — works.  You can easily earn anywhere from $3,000 to over $15,000 on each house you find doing what I just told you! (My average is $8,400 per house.)

Best,

Michael Kimble

P.S. In a nutshell… my little ad got Alice to call me.  I got her house under contract for below market value (using no money whatsoever).  I flipped the contract (with my finder’s fee added) to an investor-buyer, who paid cash for the house.  I made $6,000.

The entire process took less than two weeks.  There are thousands and thousands of these deals out there.  And right now is the best time in the history of real estate to be doing this!

cmsvoteup icon 32x32 2 Where I Got Started dco icon 32x32 Where I Got Started

Comments

  1. Saved being a preferred, I actually like your website!

  2. Brysen says:

    Thanks guys, I just about lost it lokonig for this.

Speak Your Mind

*