How to Make $50k a Month at 21 Years Old!! | Wholesaling Real Estate

TL;DR

Davis Mendez, a successful real estate wholesaler, shares how he earned over $50,000 per month at the age of 21 through his experience in the industry.

Transcript

all right guys we are live welcome to the baxter riches podcast i'm your host zakin and on today's video i am with davis mendez this dude is 22 years old at the age of 21 he was clearing over 50 000 per month in real estate wholesaling davis has the checks he's got the proof welcome on the podcast today davis appreciate it zach what's going on guys... Read More

Key Insights

• ❓ Obtaining a real estate license can provide a solid foundation for understanding contracts and transactions in wholesaling.
• 🏛️ Building credibility as a young wholesaler is possible through knowledge, confidence, and professionalism.
• 🥺 Direct marketing strategies, such as using delinquent tax lists and creative signage, can generate leads for wholesaling deals.
• 💄 Consistency and dedication are essential for finding success in wholesaling, especially through consistent prospecting and making offers.
• 🥺 Investing in cash-producing assets, such as mobile homes and real estate properties, can lead to long-term wealth creation.
• 👨‍💼 Building relationships with buyers and networking within the real estate industry is crucial for scaling a wholesaling business.
• 😚 Staying patient and navigating hurdles in the wholesaling process, such as liens and title issues, is necessary for closing deals successfully.
• 🥺 Using reliable data sources and skip tracing services can help generate targeted leads for potential wholesale deals.

Questions & Answers

Q: How did Davis go from being a real estate agent to wholesaling?

Davis initially obtained his real estate license, which helped him understand real estate contracts and transactions. He then leveraged this knowledge to transition into wholesaling.

Q: How did Davis find his first wholesaling deal?

Davis started by obtaining a delinquent tax list, which led him to a property with a small tax lien. He acquired the property through a quitclaim and used creative marketing strategies, such as putting up a "We Buy Houses" banner, to attract potential buyers.

Q: How did Davis establish credibility with motivated sellers despite his young age?

Davis believes that credibility comes from knowledge and confidence. He extensively studied real estate processes and contracts, which allowed him to have informed conversations with sellers and gain their trust.

Q: What tips does Davis have for someone starting out in wholesaling?

Davis advises consistency and dedication. Making consistent calls and offers, and devoting several hours each day to prospecting, is crucial for success in wholesaling.

Summary & Key Takeaways

• Davis Mendez got his start in real estate by obtaining his real estate license, which provided him with a foundation to understand contracts and transactions.

• He transitioned from being a real estate agent to focusing on wholesaling, which he found to be more lucrative.

• Davis's first wholesaling deal involved acquiring a property with a small tax lien and using creative marketing strategies to attract potential buyers.