How to Make 50k+ a Month at 21 Years Old! | Wholesaling Real Estate | Summary and Q&A

TL;DR

Doug Aguilar, a 21-year-old real estate wholesaler from Houston, Texas, shares how he started in wholesaling through YouTube, built an impressive business through cold calling, and now makes over six figures a year.

Key Insights

• 🥡 Consistency and taking action are crucial in wholesaling real estate.
• 🦔 Building rapport and personal connections with sellers can give wholesalers an edge in the competitive market.
• 🥶 Cold calling can be an effective lead generation strategy if done consistently and with the right approach.
• 🥺 Networking and building relationships with other wholesalers and investors can lead to valuable referrals and joint venture opportunities.
• 🅰️ Understanding the different personality types of sellers and adapting communication styles accordingly can improve the chances of success in negotiations.
• 🤝 Researching and understanding the local market is essential for accurate property valuation and identifying potential deals.
• 🧭 Virtual wholesaling and using technology tools like cell phones, Google Voice, and multiple platforms for comps can be effective in non-disclosure states.
• 🥺 Following up persistently and being proactive can lead to successful deals and opportunities for wholesalers.
• ❓ Avoiding unnecessary expenses in marketing and learning to negotiate effectively can increase profit margins in wholesaling.

Transcript

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Questions & Answers

Q: How did Doug get started in wholesaling real estate?

Doug got started in wholesaling by researching on YouTube and developing his own cold calling script. He took action without mentors or coaches and learned as he went.

Q: How did Doug scale his business and start doing bigger deals?

Doug scaled his business by using other lead sources like pre-foreclosures, propstream, and driving for dollars. He also focused on building rapport and personal connections with sellers, which helped differentiate him from other wholesalers.

Q: How did Doug handle being a young wholesaler and gaining credibility with sellers?

Doug gained credibility by being confident, taking action, and not caring about negative opinions. He focused on building rapport, being personal with sellers, and showing his commitment to getting the job done.

Q: What is Doug's approach to cold calling and how does he handle rejection?

Doug's approach to cold calling is to be direct and personal with sellers. He handles rejection by staying motivated and persevering through it. He believes that the more calls he makes, the higher the chances of finding a deal.

Summary & Key Takeaways

• Doug Aguilar got started in wholesaling at the age of 19 by researching on YouTube and taking action without mentors or coaches.

• His first deal was made through cold calling a tax delinquent list he found on his county's website and using Facebook to find a cash buyer. This initial deal made him a $1,300 assignment fee.

• Doug scaled his business by using other lead sources like pre-foreclosures and propstream, as well as focusing on building rapport and personal connections with sellers.