But here's why due diligence is so incredibly important, guys. I've done about a thousand transactions, 700 of those are wholesale, 200 of those are bird deals, and I've done a bunch of random things here and there.

The reason I'm telling you that isn't to tell you how great I am, that's irrelevant. I'm here to give back and provide value.

What I am trying to tell you though is that I've only lost money on three deals, and I'm proud of that.

In theory, I have about a 997 wins and three losses, so I think it would be very valuable to share with you all why I lost money on the three deals that I did and here's the answer.

This is Game Changing Information, guaranteed to raise your real estate wholesaling business with actionable steps you can take immediately to navigate the ins and outs of wholesaling and start making money today.

Join us as we put our guests in the hot seat and dive deep to dissect their strategies for success to enable you to duplicate their results.

You're listening to a wholesaling ink. The only show dedicated to making you a fortune in wholesaling.

All right, Rhino Nation, I am your host, David Dodge, today, and we're going to jump in today. We're going to talk about due diligence.

On the best podcast to learn how to wholesale real estate wholesaling ink. Guys, we all know that by motivated sellers and wholesaling deals is the easiest way to get into real estate.

We all know that. So today we're going to break down a small piece of a wholesale deal.

And this is just the time in which we are going to be doing due diligence. And there's a couple of different places that we're actually going to need to do due diligence, which is going to be great.

Because we're going to walk through all this today. But the main areas that we're going to need to do due diligence are going to be when we're putting a property under contract when we are going to make sure of the ARV and make sure the ARV is correct.

When we're making sure that the repairs are accurate on the property and you know what your cash buyer is going to do, right? Are they telling are they going to be a buyer or are they going to flake out.

So these are basically the four times in which we're going to be doing a lot of due diligence or another way to work that would be to, you know, do a due diligence deep dive.

So number one will be putting a property under contract, right? And there's going to be two approaches to putting a property under contract. There would be approach number one, you know, get a great price from day one, which requires a lot of marketing and a lot of talking to people.

And it requires a good offer that gets you a great price, even a great offer. So that's approach number one, all right. And this would just be making the low offer or you may have already figured out what a great price is and you've done your due diligence already on this and you're going to get really great price.

Or option number two is you're going to use your inspection period to get the price down. And you know, obviously if you make a low offer and offer below your MAO and they accept, well, then you just got a great price and some deals go like that, right?

Some deals will easily fall down, but I'm going to be honest. Those are the one or two or three out of a thousand, you know, I mean, obviously if you're doing lots of deals, you're going to have a couple sellers that are just going to lay down.

They're going to say, hey, you know, make me an offer and we'll take that offer. But the other 997 deals out of a thousand are going to be deals where you're going to need to negotiate a little bit and you're going to need to use your inspection period to get the price down.

So my partner Mike, he always says, and I love that he says it because it helps remind me, but the negotiation doesn't really start until the properties under contract. And you know, Mike's out of ton of wholesale deals with me. He's also a broker.

So he knows both the off market and the on market way of doing things. Well, the on market way of doing things is really, really heavily weighted to the actual negotiating starting after the contract, the initial contract much more.

So then the off market, but the off market is similar. So when you are using your inspection period to get the price down, that means that you can essentially come in with a little higher offer.

...