91: 8 Units, 10 Wholesale Deals, and $0 Spent on Marketing w/ @Liliinvests

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 30 June 2021

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

Lili Thompson didn’t plan on getting into real estate investing, she was supposed to be a WNBA prospect. After tearing her ACL in college, she was brought onto the Harlem Globetrotters to showcase her skills across the country. One of her teammates started talking to her about real estate investing, specifically wholesaling. This happened at the perfect time since she was closing on her house hack around the time COVID-19 lockdowns began. But now Lili was stuck with a house hack property and no income from her Globetrotter job, this is when she really began exploring wholesaling. She started driving for dollars with her mom, sent out some direct mail, did some cold calls, and received a few expletive-filled phone voicemails in the process. Lili knew she didn’t want to speak directly with the sellers, so she started chasing on-market wholesale deals. Now she communicates with agents, promises them double their commissions, and assigns the contract for a fee to her flipping contacts. She’s done 10 deals so far this year, paying $0 out of pocket for marketing, AND securing 8 rental units for herself in the process! In This Episode We Cover How to wholesale when you have a $0 marketing budget Driving for dollars, direct mail, and other wholesaling tactics House hacking with a duplex or a single-family home Finding on-market deals with enough profit to wholesale A very colorful voicemail that Tony received recently And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Propstream Zillow Rentredi The Real Estate Robinsons Youtube Channel Redfin MLS City-Data BiggerPockets Insights Check the full show notes here: https://www.biggerpockets.com/rookie91 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This says Real Estate Rookie, Episode 91.
0:03.7	Yes, for the most part, I don't pay for any marketing.
0:08.9	I reach out any time I see a distressed property come up on market.
0:12.8	I'm reaching out to that listing agent about that property.
0:15.6	And I've been able to generate enough leads by doing that.
0:23.7	My name is Ashley Care, and I am here with my co-host, Tony Robinson.
0:28.6	Tony, how are you today?
0:30.2	I'm feeling fantastic.
0:31.6	Actually, it's a beautiful day in SoCal.
0:33.2	I can't complain.
0:33.9	The Lakers just won a basketball game a couple nights ago,
0:36.7	so all things you do in the world are turned around.
0:40.0	Yeah, I always have to throw the weather in my face.
0:42.0	We had like two nice days where I got to ride my motorcycle,
0:45.4	and now it's like back to, it was like 55 degrees this morning.
0:50.0	And I think it creeped up to 61 maybe.
0:52.7	Yeah, I love the videos you post if you on your Harley.
0:55.5	And I think you got tagged in someone else's store
0:57.3	if you like riding up on them in your motorcycle.
0:59.2	And it was like the coolest thing ever seen you on your bike.
1:02.0	Oh, yeah, when I went to my cousin's house,
1:03.6	they were like ready for you waiting.
	...

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