Posted on: May 19, 2020

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 Bowinkel. Dave is a rockstar wholesaler from Salt Lake, Utah. Just like most people, Dave 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, Dave is doing something right!

In this episode, Dave shared some of the effective strategies he’s been using to find deals and stay profitable, so don’t forget to tune in!

Key Takeaways

  • How the pandemic has affected his deals
  • How he feels about the next 3-6 months business-wise
  • Why it’s important to be proactive and keep marketing costs low
  • Two things he’s doing that’s super important right now

RESOURCES:

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Episode Transcription

Brent Daniels:
Hey guys, it is Brent Daniels, Mr. TTP. And I am here with Dane Bullwinkle out of Salt Lake City-

Dane Bullwinkle:
[inaudible 00:01:07].

Brent Daniels:
Salt Lake City, Utah. And I’m really excited. What I’m trying to do is, I want to do these quick little interviews of real real estate wholesalers from around the country that are closing deals, making money, during the coronavirus situation. So Dane, how are you?

Dane Bullwinkle:
Yeah, we’re doing good. We’re pushing forward and trying to figure out things amidst all the craziness, you know?

Brent Daniels:
Got it. Well, let’s talk about a deal. You’ve got a deal that you’ve closed in the last couple weeks since we’ve had this crisis. Tell me about that. How did coronavirus affect your deal?

Dane Bullwinkle:
In fact, it’s been really interesting. So I’ve had two and they closed right at the beginning of it all. Frankly, when I feel like a lot of people didn’t know what to think about it. So I think that was, I mean, a blessing for us, right? One of them was more unique. It was a 4,400 square foot house in a city, that’s a good city but not necessarily one of those really screaming areas. So, that was a blessing that closed that one. But the deal’s moving into, I mean, we’ll probably talk about that briefly, too.
But the deal’s moving into more now have been really 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 just because it’s super hot. We sell them for premium. People love them. It’s great. So to give you a rough idea, we did a deal out there about a month ago. I mean, ARV on it’s like, 320. It was a freaking nightmare, needed probably 60 grand. And we sold that one for 259. I had 30 people come and walk it, within a hour timeframe.

Brent Daniels:
Oh my gosh, during this … Like, recently?

Dane Bullwinkle:
So this was a month ago before all the craziness. So I want to give you a little bit of a baseline. So about 30 people in this really hot area, the last couple of deals that we’ve done like this … This week, start of this week in the same area, I had 10 interested in the one, instead of 30. And the other one’s a manufactured home, so a little less desirable. I’ve had about five interested in that one. So give you a little bit of baseline.

Brent Daniels:
Sure.

Dane Bullwinkle:
So definitely still interest on our end or from our buyers end. And I think that, I don’t know man, you’ve talked about it a bunch of times. The people that have said, “Oh, you only need five good buyers.” I think you’re struggling right now, I really do. We’ve got about 5,500 buyers on our list and thank God for that. So, so far, so good. I don’t know, man, a lot of people are like, “Oh, should I be discounting my property? Should I be backing off my marketing?” And honestly, we’re taking the approach, we’re business as normal. As far as marketing is concerned, I’m not necessarily dying to go double down. We’re not pulling back either. And we’re taking it week by week to see how things work out. But so far, we’ve been blessed. Things are moving forward. My one deal that we’ve got going right now, I mean that one’s a $41,000 assignment fee.

Brent Daniels:
Oh, hold on. So you’re making 41,000?

Dane Bullwinkle:
Right, on that one deal. And once again, my favorite area to work in anywhere that we market, right? And so I was a little bit hesitant, frankly, to show that. I’m thinking, do we double close it? How do we manage that? And frankly, some people double close everything. I’ve double closed, in the last four years, one deal or two deals and we’ve shown massive assignments. But I’m trying not to recoil, right?

Brent Daniels:
Sure.

Dane Bullwinkle:
So I’m like, what do we do? And I was like, “Well, it is what it is. I’ve got plenty of interests. If he wants to balk at it, we’ll just see. So I mean, no concerns at all. Everything went good.

Brent Daniels:
Let me ask you. Are you excited about the next three to six months in your business?

Dane Bullwinkle:
We’re cautiously optimistic, right? I think that’s super fair. So I think that there’s going to be a massive amount of opportunities. And in fact, we’ve been looking at opportunities both in real estate and in other markets, as well. It’s been really cool and that’s a whole other conversation. But yeah, we’re really excited. I think that, I mean, keep your head out of the sand, keep your eyes open and be aware of things that you need to do to change. I think a lot of the people in TTP and a lot of listeners that are going to hear this, they’re the small guys, right? They don’t have massive teams. They’re not spending tens of thousands of dollars in marketing. And I think that could be a benefit right now, right?

Brent Daniels:
A hundred percent, yeah.

Dane Bullwinkle:
Because you’re not the cruise ship that takes forever to change paths.

Brent Daniels:
We can move quick, right? Yeah, yeah. Being tight, keeping your costs down, being proactive. You can move this, the ship, wherever it needs to go. Just like you were talking about. I love it. Give some advice real quick. Last thing, what is the advice that you would give somebody that’s on the fence about wholesaling right now?

Dane Bullwinkle:
Well, I mean, 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 right now. I think you need to be marketing in a cost effective way. Course TPP, 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 to market, as well. So, if someone wants to reach out to me about that. The ROI’s been just massive. So make sure you’re being super nimble with how your marketing in your marketing budget and then be building your buyers list. Now I think is a really good time to tighten up your processes. So make sure you’re finding the guys but also make sure that you’re not finding one or two that are going to … You’ll be hamstrung if they don’t do your deal. So, that’s what I’d say.

Brent Daniels:
Right, right. I love it. Thank you so much, Dane. I mean really, really great stuff. Really inspirational. $41,000 deal, you’re still going, you’re still being proactive. Just an inspiration. Thank you so much.

Dane Bullwinkle:
Thanks man. See you.

Brent Daniels:
And if you’re interested in joining the most proactive group in real estate investing, you know what it is. It is the TTP program. Go to wholesalinginc.com\ttp. At wholesalinginc.com\ttp, scroll down, check out what it’s about. Check out all the testimonials. You’re going to have to keep scrolling for a while. If it feels good in your gut, sign up for a call. And I look forward to working with you personally. And that is it. Thank you guys again for listening. I encourage you always to talk to people. Love you, see ya.

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