10 Mistakes Jamil Made Wholesaling So You Don’t Have To | AstroFlipping Breakout
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 8 August 2023
⏱️ 14 minutes
🧾️ Download transcript
Summary
Today on Wholesale Hotline (AstroFlipping Edition), Jamil Damji breaks down the biggest mistakes of his career.
Show notes -- in this episode we'll cover:
- A full breakdown of mistakes Jamil's made.
- How to avoid these mistakes.
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☎️ Welcome to Wholesale Hotline & Astro Flipping breakout🚀👨🚀🚀👨🚀! ☎️
Jamil has been in real estate since 2002, since then he mastered the art of Wholesaling Real Estate. He successfully built KeyGlee, which is now a National Franchise with over 100+ employees, spanning 180 US markets.
Jamil also runs a mentorship called Astro Flipping where he mentors and educates hundreds of entrepreneurs on how they can be successful in their own Wholesaling business.
He is also the host/star of his own TV show on a nationwide television network, A&E. Triple Digit Flip showcases Jamil, his sister Rahima, best friend Pace, and their real estate agent Laura wholesaling and flipping houses all over Arizona.
Jamil is also the co-host of the fastest growing podcast on Wholesale Real estate called “Wholesale Hotline.” Additionally, he started his own podcast called “To the Moon” where he highlights student success. Above all things listed about Jamil, his mission in life is to impact as many lives as possible, and share the knowledge he has with those that have a desire to learn.
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🧑🚀 IG: https://www.instagram.com/jdamji/
🧑🚀 Facebook: https://www.facebook.com/jamil.damji
🧑🚀 Dive into Jamil's Mentorship: https://go.astroflipping.com/1-case-study?utm_source=youtube&utm_medium=organic
🧑🚀 Book a call with my Astro team: https://go.astroflipping.com/schedule?utm_source=youtube&utm_medium=organic
🧑🚀 YouTube Channel: https://www.youtube.com/channel/UCDqJP0mZNOSR9JiIRE02NxQ
🧑🚀 Tune in to Wholesale Hotline live on my YouTube every Monday 5pm MST
🧑🚀 My AWESOME Dispo Company: https://www.keyglee.com/
🧑🚀 JOIN KEYGLEE FRANCHISE: https://my.keygleefranchise.com
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🔌 PLUG IN & SUBSCRIBE 🔌
🔸 Jamil’s YouTube: https://www.youtube.com/c/JamilDamji/
🔹 Jamil’s IG: https://www.instagram.com/jdamji/
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🤝 #SQUADUP & GET MORE DEALS DONE in the Wholesale Hotline LIVE Facebook group: https://www.facebook.com/groups/759418414582645 🤝
Transcript
Click on a timestamp to play from that location
| 0:00.0 | You are listening to an astro-flipping breakout with me Jamil Damgey on the Wholesale Hotline |
| 0:07.0 | Podcast. |
| 0:08.1 | We want to know how we are doing, so give us a rating and leave us a review. |
| 0:13.4 | Ten mistakes I've made wholesaling so you don't have to. |
| 0:16.1 | If I compile the dollar value of each of these mistakes, it would be in the millions. But you don't have |
| 0:22.3 | to make those mistakes and you don't have to lose that money. Of these mistakes, number 10 |
| 0:26.0 | is the most treacherous, I got sued. So you're going to want to stick around. Number one, speaking |
| 0:30.0 | at comping, people not comping their house before they rush into a contract. Now, you want to learn |
| 0:35.9 | from a software like Privy. You can even use Zillow if |
| 0:39.0 | you're cheap, but Privy is a great resource for you to be able to figure out how to comp houses. |
| 0:44.7 | And truly, if you take time and learn this skill, it will save your butt. In the early days, |
| 0:50.7 | I had a lot of canceled contracts and ruin relationships. In fact, there's a real estate agent right now in this town, even though I've been so successful. I'm all over television and all over YouTube. She still won't work with me. She's still but hurt, like truly angry that I canceled the deal like eight years ago. I've tried to reach out to this lady and she's like, I know who you are. You're the guy who canceled blah, blah, blah, blah, blah, banana street. And I'm like, come on. Really? Like, you got the memory of an elephant. But people, they don't forget when you hurt their feelings. And when I canceled the contract, I probably stopped her from being able to pay for her BMW or whatever payment she had to make that month. |
| 1:29.1 | And I hurt her feelings. |
| 1:30.6 | Probably hurt her seller as well. |
| 1:31.7 | So you don't want to make an error by rushing into a contract without having checked |
| 1:36.8 | your numbers and learning how to comp. |
| 1:39.1 | So mistake number one, don't be a gibrony. |
| 1:41.1 | Learn how to comp. |
| 1:42.5 | Mistake number two, not lining up an investor friendly title company before I went into contract. |
| 1:48.0 | Oh my goodness. This can really mess up your deal. When a title company is not investor friendly, |
| 1:53.5 | what will happen is they're not going to let you do assignments. They're not going to let you do double closes. |
| 1:57.0 | You're going to actually have to close that deal with cash before you're going to be |
... |
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