Brian Trippe is an expert wholesaler who hosts the largest REIA in Alabama. The one time Division 1 college coach first fell in love with real estate in July of 2012. To date, he now owns 80 doors of rental properties. In this episode, he shared how he runs his wholesale business, the ins and outs of doing probate deals, and how he managed to accumulate 80 rental properties in just 3 years! So many real estate and wholesaling insights and wisdom in this episode, you better have a pen and paper handy!
Just like any neophyte in the industry, Brian started his wholesaling journey not fully knowing what he was doing. However, that didn’t stop him from taking massive, imperfect action. While his first deal took him 45 days to close, he earned $10,000 from his efforts! From that point on, he was unstoppable!
- Brian now owns a lot of properties because he does something not many wholesalers do—he manages his wholesaling pay check really well. He pays himself, he saves, and then he allocates at least 20% of the amount to marketing.
- He believes that as long as marketing is targeted and efficient, it can definitely bring in more sales.
- He was also able to accumulate several properties by using the BRRR strategy
- Buy it for cash (Ideally at 70 to 75% of what it will appraise for minus repairs)
- Rehab it (put a renter in there)
- Refinance it
- Other key takeaways from this episode
- The book he got his business model from
- The significance of having a “marketing momentum” going
- The best time to find deals (this might surprise you!)
- What “over-leveraging” is and why you should avoid it
- What are probate deals
- How to find probate opportunities and leverage them
- The importance of networking
- The honest and wholesome strategy you can use when making phone calls (It’s very effective!)
Even if he had a lot of apprehensions at first, Brian went out there and took massive, imperfect actions. While wholesaling can be scary for neophytes, go out there and act anyway. And just like Brian, you just might be the next person to take the wholesaling world by storm!
- Rich Dad Poor Dad by Robert T. Kiyosaki
- Profit First by Mike Michalowicz
- BiggerPockets Website
- Alabama Real Estate Investor Association (ALAREIA) Youtube Channel
- Postal Impact