240: Rookie Reply: How to Get a Better Price on That Off-Market Property w/Ethan Wilson and Jamil Damji

Real Estate Rookie

BiggerPockets

How To, Entrepreneurship, Business, Education, Investing

4.7 • 1.8K Ratings

🗓️ 3 December 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Off-market real estate deals can give investors like you HUGE discounts on what would be expensive investment properties. Either due to the property condition or the state of the seller, these real estate deals sell for sometimes hundreds of thousands less than their on-market equivalents. But finding them can be a challenge. As a result, most new investors rely on real estate wholesalers to bring them a deal. But what if the price point still doesn’t make sense? Welcome back to another Rookie Reply, where we’re joined by real estate wholesaling master, Jamil Damji, and newly self-employed investor, Ethan Wilson. Jamil and Ethan both have a taste for off-market, underpriced deals and are here to share their wisdom with you. In this episode, you’ll hear how to negotiate with a wholesaler who’s firm on price, how to find off-market deals WITHOUT cold-calling sellers, and Jamil’s killer deal-finding strategy that costs far less than the competition! If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover How to negotiate with a real estate wholesaler even if they have a set purchase price Investing in your early twenties and why partnering up can help you scale faster Cold calling tips and why most investors are too scared to talk to sellers The EASIEST, cheapest way to find off-market real estate deals Meth house and mold remediation and why you should ALWAYS google a potential property’s address And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group Real Estate Rookie Podcast BiggerPockets Forums On The Market Podcast KeyGlee AstroFlipping BiggerPockets On The Market Youtube Channel Connect with Ethan and Jamil: Ethan's Instagram Ethan's BiggerPockets Profile Jamil's Instagram Jamil's BiggerPockets Profile Jamil's Youtube Channel Check the full show notes here: https://www.biggerpockets.com/blog/rookie-240 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, episode 240.
0:05.0	Look at the math here.
0:07.0	We know that you've got to speak to it at minimum,
0:10.0	at minimum 200 homeowners before you'll get a contract.
0:14.0	What I see is that if you talk to say 50 real estate agents today,
0:19.0	who are each prospecting themselves,
0:21.0	imagine if you talk to 50 agents
0:23.0	who are each talking to 50 homeowners to try to get listings, right?
0:27.0	How many effective conversations am I having a day
0:30.0	if I go that route?
0:31.0	If 50 agents are each talking to 50 homeowners,
0:34.0	that's me talking to 2,500 people.
0:36.0	So the math doesn't lie.
0:39.0	My name is Ashley Care,
0:41.0	and I'm here with my co-host, Tony Robinson.
0:43.0	And welcome to the Real Estate Rookie Podcast,
0:45.0	where every week, twice a week,
0:47.0	we're bringing you the inspiration information
0:49.0	and stories you need to hear to kickstart your investing journey.
0:51.0	And I want to start today's episode by shouting out
0:53.0	someone from the rookie audience
0:54.0	who goes by the username DuDet3,
	...

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