Posted on: November 22, 2016

How to Start Wholesaling When You Just Have $100 in Your Pocket!

One of the most common reasons people don’t start wholesaling is that they don’t have the means to do it.

Maybe its finances, lack of knowledge or even confidence. The truth is, anyone could do wholesaling if they wanted to! Too often, people talk themselves right out of it. They think about all the things they DON’T know and are gripped by fear.

Or worse yet, they sit around learning and contemplating, but never doing deals or making money! Hey, it feels good when you are “learning” something new. The problem is…learning doesn’t put food on the table!

Today, you will discover how Stephen and Kristian started with just $100 dollars, joined the tribe, took a loan, and dove into wholesaling full force!

They took a big risk by taking MASSIVE (yet “imperfect”) action, and man the results are awesome!

On today’s Podcast, you will discover how they made $40,000 dollars on a recent deal as we put this husband and wife team in the hot seat and deep dive every detail.

If they can do it, you can do it too! Don’t miss this zero to hero story!! Get ready to be inspired!


  • From truck driver to wholesaling houses full time
  • Risking everything to follow their dream
  • Some unconventional (and AWESOME) strategies they used to land some deals
  • How they got their most recent deal
  • What’s their complete process looks like and why they respond to voicemails within 60 seconds?
  • How important it is to become a “friend” in this business
  • How they closed this deal and found a buyer instantly!
  • How they ran the numbers
  • and so much more…


If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!

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Episode Transcription

Cody: Welcome to another episode of Wholesaling Inc by Investor Grit. This is Cody Hofhine and I am absolutely excited to be here today. We have got some rockstar rhinos that are with us today that are just crushing it in the Georgia market. Here we are today, we’re going to deliver the no BS. This is no fluff zone. This is just the meat and potatoes on how you can go from not messing around with the learning and go straight to earning. Without further ado, let’s get our guests live with us right now, Steven and Christian Richardson. How in the heck are the two of you?

Steven: Hey Cody, we’re doing awesome. Thanks for having us.

Christian: Hey Cody, thank you so much for having us.

Cody: Absolutely. Let’s get rock and rolling deep dive right into this. So listeners, rhino nation, I want you to understand, get your pen, paper, your computer, whatever it is that you take notes, get ready because this stuff is going to be solid. You want to learn how you can get into wholesaling. These two are going to blow your mind on how you can do it. They went from zero to hero. Super, super, super quick. And we’re going to just deep dive and just jump right into it so that you can really replicate exactly what they are doing. Are you guys good for that?

Steven: Let’s do it.

Cody: Introduce yourselves. Tell us a little bit about what the background is, kind of where you’re from, what you do, what you were doing before you got into real estate.

Steven: We’re in the Atlanta market and we did our first deal at the end of 2014 and that was while I was still working my job as a delivery driver. Long story short, it started working for us and been doing it full time since February of this year.

Cody: February, 2016, that’s when you’re like, okay, no more delivery. I’m just going to jump into wholesaling full time. That’s when you joined the tribe from that point forward. Is that correct?

Christian: Yes.

Cody: Now explain from there, what has place kind of tell us how that starting point starts. We talked before we got going on this phone call and I absolutely love where these two started where they literally had to look at their bank account. Tell us and help us understand exactly where you came from, what you had to do to get things going before it started just snowballing

Christian: When we first started in November of 2014 and even up to February, we had two children before October of 2015 and then we had a new baby born in October 2015 and we knew some things just had to change financially for us because we were living very paycheck to paycheck. And when we first started we had $100. We were handwriting-

Cody: Now is this a hundred dollars total? Like you open the bank account and it’s $100 sitting there and you’re like, Holy cow, this isn’t enough in there.

Christian: It was like, it was like $99.58

Cody: The beautiful thing is you even know the numbers, which lets me know you probably were thinking, Holy smokes, what are we going to do?

Christian: Oh yeah. There was diapers and stuff that needed to happen. We were just kind of sitting in praying and waiting for things to snowball the way that they needed to. One day we were just like, okay, we’re going to take out a loan, we’re going to buy Tom Krol’s program, we’re going to quit the job. We’re going to do this because we know it works and we’re going to put everything we have into it together and it’s been working.

Steven: It started from, while I was at my job, I had out driving around all day, I was listening to a podcast, which Tom’s was one of them, but I would go down the list of every single podcast that had to do with anything wholesaling or real estate related and just wear it out. I mean, hours and hours and hours. That’s what gave us the idea. I finally came home one day and I was just like, we got to try this thing, we didn’t quit. We, like she said, hand wrote yellow letters late at night and early in the morning. And Craigslist, we did our first two deals from Craigslist. So yeah, it was hard work. I don’t want it to sound like it was super easy and you just, send out some mail and make 50 grand and piece of cake. You got to stay dedicated and then just keep going until you make it work.

Cody: Perfect. So here’s a couple points for our listeners to really jot down at this moment that I absolutely love that you said. First and foremost, the struggle was real. They had $99.58 in the bank and one can imagine we all can relate in some way. When we’ve looked at the bank and thought, man, there is just too much month at the end of the money is how I look at it. Right? There’s just more month left than there is money in the bank and we’ve all had those moments. So this is real life story. It didn’t come from … these were individuals that just had tons of money and they jumped into it because they just wanted to make more money. No, it was looking at the bank account and saying there is $99 in here. And then saying we’re taking out a loan or a credit card, we’re going to get this coaching program because we know it works and they just jumped into it and started doing.
The other key thing was the fact they just went out and did it. They took massive action and started doing, doing, doing. It started first of all, listening to podcasts, but ultimately it led them to where they are doing deals consistently each and every month. So we’re going to break down one specific deal that you just recently did. In fact, you closed on this last Thursday if I’m correct. Is that, is that right?

Steven: That’s correct.

Cody: Let’s start off from the beginning. What does it look like? How do you even begin to, when we talk about this deal specifically, let’s break it down like granular. How did you find this deal? What marketing channel were you doing at this point?

Steven: Direct mail. Postcards.

Cody: Okay, so you’ll send out direct mail postcards. For the Atlanta market, how many are you sending out monthly?

Steven: Monthly? On average about 20,000, sometimes a little more.

Cody: I like that. That’s a great number. 20,000 direct mail pieces. And now is there a specific criteria you’re looking for when you’re sending this out? Are you sending it to tax delinquent, high equity? What kind of mail piece did this specific deal come from?

Steven: We do pretty much all of those. But this particular deal was the high equity list, absentee and non-absentee. Just basically any property that had equity.

Cody: Any property have equity, you get this list and I’m going to throw it out there that it’s probably through ListSource like the rest of us use. I’m assuming where you bought this list from?

Steven: Yes.

Cody: From there you get your list from, you purchase it, it’s all individuals with high equity. Send out this 20,000 mail piece campaign and then from there they receive your mail piece. What is it? Are you getting a live phone call? Are they going to a voicemail? What does that look like?

Steven: They’re going to voicemail, and we have two assistants now who call each call back within 60 seconds. That’s the goal. And so they got called back right away and took down all of their information and from there, me or Christian will take over and call them and introduce ourselves and just learn about their situation. I’ll let Christian tell you their specific situation they had going on and what their motivation was to sell.

Christian: These people-

Cody: Perfect. I’m going to stop you one sec cause this is key. Write this down listeners. Couple things. First of all, it didn’t matter that it goes to voicemail or live this one, this one in this particular case went to voicemail. Here’s the key thing, if I could say like kudos, kudos to these two and why they’re so successful. Did you hear that response within 60 seconds or less from them calling, They have their staff, their team already calling them back. This is huge. The longer that wait time before the time that they leave a message and you get back to them, the longer that time the less cold. This will get cold super quick or they’ll move on and find someone else to share their story with, to find out if there’s another investor out there that wants to do business. So this is crucial, crucial, crucial. One minute or less. That is phenomenal. I don’t even know if I hit that all the time. That is an amazing goal. Kudos to you guys, but that’s why you have massive success.
Okay, Christian, tell us kind of what that story looked like and what it sounded like. When she called in.

Christian: Our assistant gave us a call and said, I think this is a really hot lead. The woman just kind of wants done with the house. It’s got a mortgage on it that they can’t make anymore. Give her a call. I called her and she’s literally the nicest lady I think I’ve ever talked to in my whole life. And I became quick friends with her, but she ended up telling us that she was taking care of her father. Her mother passed away and the house was just kind of sitting there. It was her dream home to, to fix up and retire there. But she didn’t quite get their plans changed and she was having a hard time making that mortgage payment every month and they just never got out there to fix it up.
So Steven and I went out there with our kids and went out and looked at it the next day. And he personally met with, her husband, and it was a lot of work needed to be done to it. Their pay off was 79 and so we looked at each other and we thought, okay, well maybe we can sell it for, just off the top of our heads, 85 or 86 we will offer them 80 then they can make a thousand on top of whatever. We got it under contract right there and we went home and come to that and realize that it was actually going to be a bigger deal. I’ll let Steven tell you the rest of from there on because he did all research.

Cody: So Christian, here’s what I love about both of you, but I’m going to stop with this one for you. Steven, don’t get mad that I’m really going to tell her where she went well because this is where she went super well. I love the fact… Here’s a key point to really, really understand, these two have something amazing together in this business and is the fact that they realize how important it is to become a friend. And Christian nailed it perfect. When she said we quickly became friends.
I can tell you right now all of the deals happen with the people that are friends. The quicker you can establish that relationship of trust, the quicker you can really get in there and let them know that they can trust you, that they can be a friend. That you can be their friend and that you’re there to listen and that you’re truly there to help them regardless of the result. They will do business with you. Nine times out of 10 it’ll be you that walks out of the contract.
So I love the fact that you said, we quickly became friends. She was the nicest person. We sat down there, she told me what we needed, and then on top of it, here’s the best part, let’s see if we can really help him out. Let’s do it for $1,000 more so that they have $1,000. I absolutely love that about you two. You’re always thinking in the abundant mindset and truly looking out for the seller’s best interest. I love the fact that here it is, she’s fine with 79 but let’s do 80 so they can walk away with another thousand that’s awesome.
Steven, get me back on track with what that looks like from here on how the property goes and ultimately how you end up selling it.

Christian: I just want to add one little thing to what you just said is that she actually turned down two or three other offers at the same time for one of them was a quicker close and more money from somebody that lived across the street. I think because both of us were friends with them. I just wanted to tell you that part. I don’t know if I told you that yet or not.

Cody: No, I love this. This individual cross the street was offering more money and she already said no to this individual. Do you feel it’s because you truly went in there with your heart opened and become the friend first before you even talked about the deal?

Christian: Absolutely, absolutely.

Cody: Awesome. Awesome. Awesome. I love that you pinpoint that and I love the fact that it’s not always about the money an individual’s going to offer her more. She turned it down and went with the person that established the relationship of trust, which is huge, huge, huge in this business. It is a business about relationships. It’s not a business about real estate. It’s about going in there and establishing a relationship and being friends and then they will do business with the people that they trust. Would you agree?

Christian: Absolutely.

Cody: Okay, so rock and roll. Let’s move forward and kind of walk me through the, the rest of this deal.

Steven: I went out there and met with the husband two or three times and you know, I took some advice from you that we got at the Investor Grit meeting and we sat down-

Cody: Oh, you’re talking about the sweet, sweet little meeting in Memphis, Tennessee?

Steven: We are.

Cody: that was such a great event. So awesome, awesome. You pulled some golden nuggets from there and applied them. Go for it.

Steven: It was it was just sitting down with the guy and talking with them and just having genuine conversation with them for, I would say it was at least an hour before we even got down to the price. We ended up almost forgetting about the house until it was getting dark outside. And I was like, okay, well, let’s start talking about the deal. Long story short, we got left there with the contract and the very next day, we started marketing that purchase agreement and we did the email blast and text message blast ended up being a realtor who always came late to the party. But Christian dealt with the buyer on this one so she can tell you more about that conversation.

Christian: Yeah, she was awesome. So sweet. And she would call me every single time we sent her a deal and she’d say, Oh, I can’t get out there today. I have four showings and an open house. Oh man, I can’t get out there tomorrow. And she would call two days later and she’d be like, Oh gosh, guys is always gone before I can go out there and look at them. Well this one, she had been looking for something in Cartersville and as soon as she got it, she called me and she said, don’t sell it before I can get out there. I’ll be out there in 25 minutes.

Cody: You already built up this… she was already like drooling over your guys’ deals because every time she wants your deal she’s like, ah, it’s unfortunate. She probably had four showings and she’s like bag it, these guys have deals I am dropping these four showings. I am not losing this deal. And that’s probably the reality of what took place.

Christian: I think so. She was so funny too because she called as soon as she… She actually called me and was like, I want to get out there, just don’t sell it and was super interested. And I said, well you know Sandy, I’m so sorry Steven’s having a showing tonight. He’s going to be out there this evening. He’s shown it to, you know, five other investors, you’re welcome to go at the same time.
So at that point she kind of talked herself out of it and she called me back and she said, you know honey, there’s a apartment complex right next to it. I don’t even think I’m going to waste my time looking at it. And at that time I just said, it’s a really nice apartment complex, but you know, whatever you’re comfortable with. So you know, a 24 hour period went by. A couple of the people that Steven had run through the house with were moderately interested. And then the next day she calls and she says, you know, I’m going to send my husband by there anyway, I just have a feeling about this house. Do you mind? And I said, no, of course not. Here’s the code. I know you no big deal. So she went by there by herself and then she called us and she’s like, Hey, I want it. Don’t sell it. I’ll sign a contract full asking, which-

Cody: Let’s hear it. You put it under contract for 80,000 ultimately, what did you sell this bad boy for?

Christian: 120.

Cody: 120,000 and get familiar with this sound because you guys are nothing but worth victory bells. So hold on.
That is fantastic. So here we have a deal that you put under contract for $80,000 this seller ends up wanting it for full, asking for 120, you sell it to them. So when it comes to closing, is this something you closed on first? Did you do your traditional assignment or did you do, no, we double closed on this. We purchased this and then sold it to this realtor.

Steven: Our closing attorney, we just brought them the contract between us and the seller and then another contract between us and our buyer and they just used the buyer’s funds to fund both transactions, however they do that.

Cody: Awesome. Two points though, Steven, here’s the two points I love.
A: for all of our listeners out there, you always want to do exactly what these two have done. You run it by a real estate attorney that knows exactly how to do it, to make sure that you are wholesaling correctly and making sure that you wholesale the way your state wants you to wholesale.
That’s key number one and key number two is ultimately turning over to the attorney to do the work because I love your response, I never feel bad when I tell people. Everyone’s like, Hey, how are you doing this? I’m like, I don’t know. I don’t know anything about Facebook marketing, but you can call this guy that does it. I have no clue. And I love that you say that and I never feel embarrassed about it because you shouldn’t have to know about it or be involved in it.
You’re turning that work over to the attorney. You’re letting him do the process and voila it’s done. So I love when you say, whatever he does, I have no idea what he does. I absolutely love that answer because you do what you do good. And then you guys get the right people in place to do the other stuff that they do good and together that’s how this deal comes together.

Steven: Exactly. I just want to say, on this one, the point we realized it was a better deal than we thought was when we were looking and it was a historic house. So it was built in the 1800’s and the seller had finished two or three of the rooms inside back to historical status. And we noticed that the comps for those type of historical buildings were between 450 and $500,000. This one needed a ton of money to finish it. But most people go to Zillow or wherever and they see the Zestimate. Like on this one was only 150,000. You always got to take that with a grain of salt because I’m sure some people probably would have passed on it just from seeing that little bit of information that is inaccurate a lot of times.

Cody: Tell me this, cause this is key. When you did a comp on this and you find out initially what was your quick and dirty way to find out, here’s the ballpark area we need to be? Or did you spend on 55 hours on this or did you like, no, I just know I need to do all I can to put under contract as low as possible. What does that strategy look like?

Christian: Initially we didn’t know what it was going to… We thought that lower number. So we got an under contract just at the bare minimum to cover their mortgage. And then Steven did all the research. I’ll let him tell you how he figured it out.

Steven: Yeah, that’d being said we never lock up that we don’t think we’re going to be able to move. It’s just a real quick, we don’t kill ourselves running comps or anything. I just took a quick look on, we use a Redfin, at some of the sold comps built around the same period and same square footage. And those were the ones that were selling all fixed up for 450 to 500. The subject property had a huge lot, two or three times bigger than any of those other comps. It took maybe a couple of minutes to figure out the comps.

Cody: That is awesome, but the whole point that I love is you don’t spend too much and even though you didn’t know exactly what the numbers are. And this is what the point I want to bring across to the listeners is even though you didn’t know exactly what these comps were going to be, you still went out and did something. You took imperfect action. You didn’t wait for this perfect plan, this perfect comp, this perfect, this perfect that it doesn’t exist. The best thing you can do is just go out there and if you make a mistake that is okay, we’re looking for progress, not perfection. Go out there and fail your way forward.
And I can tell you these two rock stars are always doing exactly that. Fail their way forward. Progress not perfection. Take imperfect action and they just go out there and do and that’s what makes them successful. But you start at the start of this podcast, one thing to point out again was they had $99 and I believe 58 cents in a bank account. So we all can relate. It’s not super human, it’s not supernatural. These two are individuals just like each one of us. But what makes them different is they go out and are okay with making mistakes and they’re okay with taking imperfect action. And I want to tell you too, congratulations. Well deserved on that $40,000 profit on that home in, did you say Cartersville, Georgia?

Christian: Yes. Thank you.

Steven: Yes. We appreciate it.

Cody: That is so awesome you guys deserve it. You guys are great people and totally like sound people. I just absolutely loved the time I met with you in Memphis. So couldn’t be more pleased that the two of you found a deal that paid you $40,000 because there is not a couple out there… I’m telling you, I really truly mean this. There’s not a couple out there like you that just deserve good things all the way around cause you guys are great people.

Christian: That is so sweet. Thank you.

Steven: Thanks Cody. You know a lot of it too is just believing that it’s possible. Because I think we worked up to being able to do $40,000 deals where, where in the beginning if we made three grand or five grand, we thought we were on top of the world. But I think it’s just surrounding yourself with people in the tribe and the coaching program, just networking. Realizing that it is possible what other people are doing and making huge, huge profits on deals. I think realizing that it’s possible and believing it’s possible is a huge part of it.

Christian: And Steven still makes fun of me because I get just as excited and work just as hard for a $1,200 deal then then like a $40,000 deal. last week we picked up a $1,200 check and I was like, woo-hoo, and he’s like, Christian, God.

Cody: Every win is a victory? Right. It just might be like half a bell ring where this one was like, if I could ring right now I’d still be ringing for an hour 40 grand is awesome. That is great stuff.

Christian: We actually felt after we found out that it was worth more and the people were so kind. We took a lot of what, Tom talks about tithing to where you get your spiritual food. And also, I heard you say something that hit home with me when we were in Memphis is that you actually cut somebody a check and gave them more because you ended up making more.
Overnight I looked at Steven and I was like, can you just think on this tonight and then we’ll talk about it tomorrow, but can we give the sellers 10% of our earnings tomorrow as a surprise. And the next morning he woke up and he’s like, I know you still want to give 10% to them, don’t you? And I said, yes I do. And and he was like, yeah, absolutely, let’s do it. I think it’s the right thing to do.
So we showed up at their house while they were packing up all their stuff after close to leave and handed them an envelope full of cash. Because I knew if we wrote them a check they would definitely not cash it cause they’re rock solid, wonderful people. I said, don’t open it, we’re just going to give you a hug and we’re going to go. And we got a phone call like 15-20 minutes down the road and she was just hysterically crying and was so touched and happy and it felt really good to be able to do something nice for somebody.

Cody: You two are rock solid. Thank you for sharing that. That will continually help me remember why I’m in this business and it will help thousands of listeners of just what you do when things are good in life. Also return that good back to people and you will continue to be blessed for what you’ve done. So thank you. Thank you. Thank you for sharing that. I am so glad you brought that up because that is an incredible point to do and not many people are willing to do that, but this is why you will continue to find deals and this is why you’ll continue to be successful. It’s the law of the harvest at its greatest. What you plant is, what is it? What you saw is you’ll reap tenfold. So great job to the two of you on doing that. That is awesome. Awesome, awesome. And thank you for sharing that.

Christian: Well thank you and Tom for the rock solid guidance because you know it really clicked with us after hearing you and him both say, you know very similar stuff in regards to that, so thank you.

Cody: Awesome. Awesome. Thanks again you two for being on the show. Stephen, were you going to say something?

Speaker 1: Yeah, I just wanted to say, a lot of people are hesitant out there to join a coaching program because they think, well I can just take that money and send out 20,000 postcards or whatever. But my advice would be it’s worth every penny and you shout out to my dad who actually co-signed on a small business loan for us. We actually used part of that to join the tribe and I wouldn’t change a thing looking back.

Christian: It’s always worth it to get a really wonderful mentor. It is always worth it.

Cody: You two are rock stars really, really, really. Thank you and honest thank you for being on the show and seriously these deals will keep coming because of the individuals that the two of you are so continue to be those people and I promise you success will keep following. So thanks again for being on the show today.

Christian: Thanks so much for having us.

Steven: Thanks Cody. We appreciate it.

Christian: Absolutely. All right, rhino nation. If you want to learn more about wholesaling and hoteling homes, go over to that’s subscribe to our email. We always give out free content that will help you explode your wholesaling business. If it’s something that you want to take your game to the next level and you just don’t know exactly what it is and you want to go from learning… Instead of learning, going right to earning, you click on that coaching tab, book a strategy call with our team, and if we like what you have to say, we just might invite you to be part of the tribe. Until next time, rhino nation. Take care.

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