Clay Rockwood has only been Wholesaling for a few short months, and in that time he’s found quick results and sold multiple homes. In this episode, you’re going to learn how he got going so quickly and how you can do the same.
A Quick & Clean First Deal
Clay’s first deal was a duplex.
- He found the property off of an absentee owner list.
- The landlord didn’t want to continue owning and managing the property.
- He originally put the property under contract for $350k but, after taking a second look at the property and reassessing the value, was able to drop the price to $315k.
- He found a cash buyer and made about $15k from the deal.
A BIG Deal
- Clay found this property from the high equity owner occupant list.
- He targeted certain highly-desired zip codes in Salt Lake county.
- He sent ~7000 postcard mailers.
- He received a call from a property owner who was interested in moving soon.
- Clay asked the potential seller what he would want to sell the property at, on their first call, and the price he gave was a great deal (mid $300k). The house does need a substantial amount of work, and that’s part of the reason Clay was able to get such a good deal.
- Before the seller would sell his house, he needed to buy a new home first. Instead of walking out and letting them call him back on their time, Clay took the initiative to think outside the box and help them make this deal a win-win.
- The property owners didn’t know how to get started looking for a new home.
- Clay offered to help them find a new home and then close the deal on their current house so that they have the money to put a down payment on the new house. Clay became the solution to their problem.
- After the search started, the property owners were excited and motivated to sell their current property.
- Three cash buyers said they would buy the property sight unseen. He put the property under contract for $350k and ultimately sold it $415k.
- That’s a $65,000 assignment fee! On top of that, he is getting a commission on the purchase of their new home, which is $15,000.
- In total, Clay made $80,000 from this ONE deal because he took the initiative and tried to help the people he worked with.
- The Four Spiritual Laws of Prosperity: A Simple Guide to Unlimited Abundance by Edwene Gaines
- Traction: Get a Grip on Your Business by Gino Wickman