Have you ever thought about something so much but still struggled to make a decision? Real estate investing can be an excellent way to achieve your financial goals. However, most people who think about real estate investing never get started and hold back from taking action because of analysis paralysis.
Nate Beekman has been listening to real estate podcasts since he was 16-years-old. He quit his full-time job in November 2020, started his real estate journey in February, and hasn’t looked back since.
In this episode, Nate will talk about how he got into wholesaling and why he chose to go virtual. He will then give a breakdown of his first virtual deal—which netted him $32,000(!)—and share how he overcame analysis paralysis.
Case Study – How This Wholesaler Was Able To Close A $32k Deal By Going Into Another Market With Nate Beekman
If this is your first time reading, congratulations because you found the best resource for wholesaling real estate in the world. If virtual wholesaling interests you, you’re in luck because that’s what we’re talking about now with our guest Nate Beekman. In this episode, we will talk about how he got started in wholesaling and why he chose a virtual model to start. We’re going to deep dive into the first virtual deal that netted him at $32,000. His first deal was insane. We will talk about how he got through analysis paralysis because that was something he had to deal with before he got the courage to take action. Welcome to the show, Nate.
Thank you, Lauren. I’m happy to be here.
I’m very happy to have you because you are killing it right now. I want to find out everything. I want to hear about your virtual journey and your journey to getting started in wholesaling. Tell me, how did you get started in real estate investing and wholesaling? Where’d you start?
I think I’ve always had that entrepreneurial spirit, as you hear with most of your guests. I was never the best student. I got by and everything like that. My father and brother did a little bit of real estate back in 2008. I was like a little kid, like a fifteen-year-old. I saw that there was an opportunity there. Since I’ve been 15 or 16, I’ve been listening to BiggerPockets learning about flipping houses, the BRRRR strategy and stuff like that.
I always knew even then that I was going to create financial freedom through real estate, but I wasn’t sure how I was going to get there. It started happening when COVID first started. I was working at a sales job, financial planning, which was a good base because understanding finance is the most important skill that you can have in this day and age. I didn’t like it, though, that I was working from home because COVID-19 happened. I was like, “I’ve got to figure out a different way to jumpstart my career in real estate.”
It was a BiggerPockets Podcast, they were talking about wholesaling and I was like, “I got to figure out what’s going on here.” I stumbled upon your show. You, Brent Daniels and the whole community are so giving. It’s awesome. Immediately, I dove in. It was crazy because I started studying and I became obsessed. I was reading the blog every single day, spending hours. I was like, “I’m going to quit my job and do this.” I was crazy. I did that. I quit my job in November 2020 and started hitting the ground running in February 2021. That’s how I stumbled upon wholesaling. I know I’m a little crazy, but I’m happy I did it.
You quit your full-time job. Did you have money saved up? What was your backup plan?
Understanding finance is the most important skill that you can have in this day and age.
I didn’t have a backup plan. I burned the bridges, but I was strategizing. I saved up and moved home for a few months. I was studying like a madman. I remember I’d walk my dog around the block and every single day, I’m listening to this show. I visualize being on the spot at this exact moment. It’s freaking cool to be here right now.
I had another person say this on the show like, “If you want to learn something, you need to fill your media up with that. It’s like you’re listening to it all the time, and then you need to visualize.” You need to visualize yourself in the future posting something on Instagram that you did it that you’re on this show. That’s funny because I did the same thing. When I first got started, I was listening to the BiggerPockets Podcast and this was years ago. I think this show came not much later.
At the time, I was listening to that podcast and I had envisioned that one day I’m going to be on that podcast and I was. It was so cool, and then now I host this show, which is bananas. It’s so crazy the way when you visualize stuff. I never in one million years thought I’d be hosting a show that I used to fill my media up with.
A lot of people don’t know this, but my brother got me started. He started house flipping a couple of years before me and then he taught me everything. We did a couple of deals together. We split off, I did my own stuff and we never intended on being partners. He was just wanted to teach me so I could keep going. It’s funny because one day, he texted me. He was like, “I had no idea. You were hosting this show. I turned it on to listen and I hear your voice. I’m tripping out like, ‘Is that my sister?’” I think the power of visualization is so important to meeting your goals.
I’m huge on the whole entire mindset thing. Even several months ago, I would have been terrible. I probably would have avoided going on podcasts or a situation like this. It goes hand in hand with learning the business but then also learning how to put your mind to something and how to achieve it. Honestly, that’s been the biggest part of my journey so far.
I get you now. I don’t know if you mind me asking, but how old are you?
Virtual Wholesaling: Why not start virtual if that’s what you’re going to do?
You’re young because I was like, “Were you listening to podcasts about real estate investing when you’re sixteen?”
Honestly, I don’t know.
If my kids were listening to podcasts like that when they were sixteen, I knew I did something right. That’s really cool. Why did you choose to go virtual or at least my coaching part? I know that that’s how we know each other because you’re in my coaching program. Why did you choose the virtual coaching program?
I thought it was a great model. It was COVID-19 time, which was almost essential, but I also figured, “Why not?” If you can do it sitting in your living room, why would you not do it? It’s also down the line, I came in to build a big business, so I envisioned myself going into multiple different markets. Why not start virtual if that’s what I’m going to do eventually?
The virtual is where you need to start if your end goal is to be scaled and more having a business that you work on. I’m more fully scaled and for the lifestyle like my employees are talking to sellers and because we’re set up virtually, I don’t have to be physically at the halls. I couldn’t agree with you more. That is cool that you went into it with that mindset. When you first got started, did you choose a virtual market? It sounds like you did like it was a market a few hours away from where you were living.
Yes. I knew some people in the market and I was familiar with the market because I went to school near it, so I figured it was a good place to start.
Why did you not choose the market where you were living?
You can learn a lot of stuff just from watching YouTube videos, but you literally just have to pick up the phone and start calling people. There’s no way to get around it.
I had heard that it was crazy saturated and all markets are saturated. I probably could have done it in hindsight, but I figured I would start with a market that I thought would be easier.
There’s nothing wrong with that and that’s the beautiful thing about when you’re virtual. You can go chase a market that has the profit margins you want or if there’s maybe a certain business technique or real estate investing technique you want to do, but maybe it wouldn’t be suitable in your current market. You could go to a market where it’s suitable.
I think it’s easier to test different markets as well.
Tell me about your first deal.
My first deal came from texting. It’s funny because I was learning for a few months, diving deep into education. When I got started, it was my first lead ever. I got lucky with that. It was a super distressed property and she was a super nice old lady. She had moved out of the property but had left a bunch of belongings and stuff behind. She was ready to sell. I don’t know if other people weren’t able to get ahold of her or what, but it was perfect timing. I think I locked it up a week later after I saw pictures and stuff like that. We wholesale that one for $32,000. It was pretty awesome.
Did you get $32,000 on your first wholesale deal?
Virtual Wholesaling: Once you get those reps in, it just becomes natural.
How many have you closed since?
Three since then and then, of course, the first one, there were issues and liens. It took two months to close, but still, yes.
It’s still $32,000 and you learn a lot when you have a deal that has issues that come up in escrow. You’ve got to learn more. Now you’re playing the game and you got to learn more about real estate, so you can overcome these objections and navigate through transaction coordination. It sounds like you’re one who likes to educate himself and listen to the podcast. You seem like you are going to completely consume yourself with a topic when you’re interested in it, but did you ever struggle with analysis paralysis when you’re in that research mode?
I did. As I said before, “How do I learn how to flip or how do I learn how to BRRRR?” It seemed impossible to me, but when I found wholesalers, I was like, “This is possible.” I did have analysis paralysis for a few months, but when I finally committed and invested in the course, at that point, I was all in, so there was no looking back.
Let’s get back into that you months because a lot of people that are reading right now could probably relate. They might be in analysis paralysis. Take us back to that. What could have helped somebody during that time to take action a little bit sooner?
It might depend on what you’re looking to do. The best way would probably be to start driving around your markets and look for distressed properties unless you’re looking to go virtual. You can learn a lot of stuff from watching YouTube videos, but you have to pick up the phone and start calling people. There’s no way to get around it. At first, I was nervous to talk to people, but it becomes natural once you get those reps in.
Is that why you were stuck in analysis paralysis? Was that big fear of talking to people?
A lot of people are hesitant or afraid to invest, but the best investment is in yourself or a coaching program.
It was part of it.
Everybody says that. It’s hard and scary to talk to sellers and make offers on their houses. I still remember that fear of when I first got started. I would have a seller lead and have that initial conversation, which wasn’t bad. I could handle that, but when I had to deliver the offer I was going to give them, I would face my room back and forth before the call. I would practice what I was going to say. I would write down what I was going to say to one seller. It would take me an hour to build up the courage to say the number to the seller. It was awful.
Eventually, you do it so much that one hour, and then maybe I cut it down to 30 minutes to prep, then it was 20 minutes and then now, it just gave me a number. If I know the number, I’m going to call the seller up because I’d have all these canned rebuttals in my head anyway now. I don’t need to pre-think and have my little flashcards in front of me of what am I going to say if the seller says this?
The thing is, sometimes people will get mad, but what’s the worst that’s going to happen? You have to get used to it. It’s not your fault. It’s just they’re going through something and they don’t like the offer but it is part of the game.
The way that I handled the sellers getting mad was I fine-tuned my scripts where it’s not a surprise to the seller. I’m not hiding from the seller who I am or what I do. I let them know right up front that I’m going to look up other investor purchases in the area and I’m going to make sure I’m in line with them. It turns into a don’t kill the messenger that other investors paid this for their homes in your market. Anytime a seller would yell at me, I’d hang up the phone and I would find three different ways to say that where maybe the delivery would have been better, and the seller couldn’t yell at me. If they yelled at me, they’d be almost a little bit crazy.
That’s the scripts that I put in the coaching program. That’s how they were born is from every time I would get yelled at, I would write three different ways and then I started practicing. I learned like, “If I say it like this, I never get yelled at.” It helps. When you get yelled at, it craps on your day. It is bad. You’re human.
After you get yelled at, you’re hurting a little bit. It puts you in a bad mood. You don’t want to get back on the phone. You look at the phone like a lion or something. You have all these fight-or-flight feelings. I like to get practical advice and anything that I do. Practical advice is to get yelled at, hang up the phone and find three different ways that you could have delivered that message that would have made it more difficult for someone to yell at you. Did you look at my scripts? Did it help you at all?
Virtual Wholesaling: You just have to put yourself in the mindset that you’re going to be able to do it. You’re going to be able to make your money back.
I read the scripts all the time and it does help. I think it was Steve Trang mentioned. He said the word, “Qualify.” Sometimes you’re like, “Mr. Seller, this is what the property qualified for. That’s the same type of thing. This is what I’m going to offer you.” They can’t get mad when you say that either.
It’s all about how you say it. You are on your way. You’ve closed three deals. I think you said you’ve made $55,000 so far in your journey. That’s amazing. Do you regret quitting your full-time job?
Not at all. I don’t think I was born to work a 9:00 to 5:00.
I’m sure a lot of people reading feel the same way. Why did you choose to get a coaching program? Why did you think that was important to do?
A lot of people are maybe hesitant or afraid to invest, but I think that the best investment is into yourself for a coaching program. I’ve invested in other programs as well, not just wholesaling, like mental programs and things like that, to become the best version of myself possible. That’s my goal. You have to put yourself in the mindset that you’re going to be able to do it and be able to make your money back. It’s like a no-brainer when you think about it. You’re going to learn from experts that have spent many years doing this and they condensed it into a program that you can go through in a few weeks. You got to invest.
It’s cut your learning curve like learn from my mistakes. I know when I put my coaching program together, it was a compilation of many years of my mistakes in real estate. You don’t have to make them. I couldn’t agree with you more. Nate, thank you so much for coming to the show. I know a lot of people are going to be inspired. If anybody wants to reach you, do you want to drop maybe your IG handle? How can we get ahold of you?
You guys can hit me up on IG. It is @TheNew_NateBeek. I’m pretty active, I don’t post a ton of content, but if you DM me, I’ll respond.
Thank you, Nate. If you’re reading this and you want to get started in your virtual wholesaling journey, make sure you check out my coaching program that Nate’s in at www.VirtualInvestingMastery.com. Nate, thank you so much for coming. You were so inspirational and I’m so proud of the success you’ve had.
Thanks so much for having me, Lauren. It was a blast.
Thank you so much for reading. See you next time.
About Lauren Hardy
Lauren Hardy is a Virtual Investing expert and Real Estate influencer who owns multiple companies in the real estate industry including real estate investment, coaching, and software companies. She is also a Wholesaling Inc coach and co-host of the Wholesaling Inc Podcast.
Her experience in the last decade has been focused on real estate investing and creating products and services to serve the real estate investing community. If you are interested in investing in real estate virtually, house flipping, or virtual landlording, Lauren’s your girl.