Nowadays, many wholesalers (especially the new ones) are looking for help and guidance in terms of how to best navigate the current pandemic-affected market. If you’re one of them, this episode is for you!
In this short but meaty episode, Mr. TTP himself interviewed Dane Bollwinkel. Dane is a rockstar wholesaler from Salt Lake, Utah. Just like most people, Dane is also working on strategies to ensure he stays profitable and keeps the business afloat despite the unique challenges brought about by the pandemic.
Fortunately, things are looking up for him. In fact, he just earned a massive $41,000 assignment fee from one of the recent deals he did. Clearly, Dane is doing something right!
In this episode, Dane shared some of the effective strategies he’s been using to find deals and stay profitable, so don’t forget to tune in!
Pandemic Deal Review – Doing Real Estate Deals In A Changed World With Dane Bollwinkel
I am here with Dane Bowinkel out of Salt Lake City, Utah. I’m excited. What I’m trying to do is I want to do these quick little interviews of real estate wholesalers from around the country that are closing deals, and making money during the Coronavirus situation. Dane, how are you?
I’m doing good. I’m pushing forward and trying to figure out things amidst all the craziness.
Let’s talk about a deal. You’ve got a deal that you’ve closed since we’ve had this crisis. Tell me about that. How did Coronavirus affect your deal?
In fact, it’s been interesting. I’ve had two and they closed right at the beginning of it all. Frankly, I feel like a lot of people didn’t know what to think about it. That was a blessing for us. One of them is more unique. It was like a 4,400-square-foot house in a city. That’s a good city, but not necessarily one of those screaming areas. That was a blessing to close that one. The deals moving into more have been fascinating to look at.
I’ve got three that we’ve been marketing. Two of them are in my favorite place to work in our whole market. Because it’s super hot, we sell them for premium. People love them. It’s great. To give you a rough idea, we did a deal out there. ARV on is $320,000. It was a nightmare. I needed probably $60,000. We sold that one for $259,000. I had 30 people who came and walked it.
This was before all this craziness. I want to give you a little bit of a baseline. There are about 30 people in this hot area. In the last couple of deals that we’ve done in the same area, I had 10 interested instead of 30. The other one’s a manufactured home, so it’s a little less desirable. I’ve had about five interested in that one. Definitely, it is still interest from our buyer’s end. You’ve talked about it a bunch of times. The people that have said, “You only need like five good buyers,” I think you’re struggling like I do. We’ve got about 5,500 buyers on our list and thank God for that.
A lot of people are like, “Should I be discounting my property? Should I be backing off my marketing?” Honestly, we’re taking the approach business as normal as far as marketing is concerned that I’m not necessarily dying to go double down. We’re not pulling back either. We’re taking it week by week to see how things work out. So far, we’ve been blessed. Things are moving forward. My one deal that we’ve got going is a $41,000 assignment fee.
Keep your head out of the sand, keep your eyes open, and be aware of things that you need to do to change.
It’s my favorite area to work in anywhere that we mark it. I was a little bit hesitant to show that. I’m thinking that we double close it. How do we manage that? Some people double close everything. I double closed in the last years, 1 or 2 deals. We’ve shown massive assignments, but I’m trying not to recoil. Someone is like, “What do we do?” I was like, “It is what it is.” I’ve got plenty of interests that he wants to back at it or just see. There are no concerns at all.
Are you excited about the next months in your business?
We’re cautiously optimistic. That’s super fair. There’s going to be a massive amount of opportunities. We’ve been looking at opportunities both in real estate and in other markets as well. It’s been cool and then that’s a whole other conversation. We’re excited. Keep your head out of the sand, keep your eyes open and be aware of things that you need to do to change. A lot of the people in TTP and readers are the small guys. They don’t have massive teams. They’re not spending tens of thousands of dollars on marketing. That could be a benefit.
We can move quickly. Being tight, keeping your costs down, being proactive, you can move the ship wherever it needs to go like you’re talking about. What is the advice that you would give somebody that’s on the fence about wholesaling?
If you’re on the fence, I would say two things. The two things that we’re doing that I feel are the most important. You need to be marketing in a cost-effective way. In TTP, you can’t be much more cost-effective than that. We have a texting platform that I built with our developers and we’ll be taking the market as well. Maybe someone wants to reach out to me about that.
The ROI has been massive. Make sure you’re being super nimble with how your marketing and your marketing budget, and then be building your buyers list. Now is a good time to tighten up your processes. Make sure you’re finding the guys, but also make sure that you’re not finding 1 or 2 that are you’ll be hamstrung if they don’t do your deal.
Thank you so much. It’s great stuff and inspirational, the $41,000 deal. You’re still going and proactive. It’s an inspiration.
Thanks. See you.
If you’re interested in joining the most proactive group of real estate investors, you know what it is. It is the TTP program. Go to WholesalingInc.com/TTP. Check out what it’s about. Check out all the testimonials. If it feels good in your gut, sign up for a call. I look forward to working with you personally. Thank you for reading. I encourage you always to talk to people. I love you. See you.
- Be Sure To Join The Wholesaling Inc Facebook Group
About Brent Daniels
Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low-cost, and incredibly effective telephone marketing program…
Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!
Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events…
A natural leader, Brent combines his passion for helping others with his high energy, and “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!