Graylan Stewart | Wholesaling Real Estate Blog 👇

Get Your 1st Deal In 30 Days! Part 9 😇 | Wholesaling Real Estate

November 29, 2022


You can definitely get a deal in 30 days. If you do those first six out of those seven steps for sure. Get the list of distress owners whether you make it or you pay for it. Okay? Market that list like crazy follow up like a madman or a mad woman on that list like crazy. Get the contract with the seller. Okay. Reach out the buyers on Facebook or marketplace or craigslist and then get the assignment contract. It is really that simple. Yes, it takes work. If this was easy, everyone would do it. Okay but you can do it. It is that simple. You can get a deal in 30 days or less. Just follow the steps. I promise you'll make it.

Get Your 1st Deal In 30 Days! Part 8 🤑 | Wholesaling Real Estate

November 27, 2022


Step 7 is the final step in this whole process because you've already done the work. You've got the list of people you've marketed that list like crazy. You followed up like a madman or mad woman and then you reached out to or you got the contract, then you reached out to buyers on Facebook and then you got the assignment contract. Now step seven is the best part you get paid. You wait till the closing date and make sure everything is, you know going going smoothly. So, you want to communicate with the seller, communicate with the buyer, communicate with your escrow officer or your attorney, whatever state you're in the title company or attorney and then just wait for the closing date and then you get paid. That's the best part about this whole thing. Like I said that price in the middle is what you get. So, if you sold the thing for 85 and maybe you got it for 75 then you made $10,000 and it's that simple. And yes, you really can do these seven steps and get a deal in 30 days. Okay?

Get Your 1st Deal In 30 Days! Part 7 📢 | Wholesaling Real Estate

November 26, 2022


All right. Step 6. Now get the deal assigned and it's the same thing. I don't have an assignment contract. So, what? Don't let that stop you. All you gotta say on there is hey, so and so buyer agrees to purchase such and such property from yourself and the original buyer or original seller. You know, and they are paying a total amount of whatever the price you agree on. Not the price you got it for, but the price the price the buyer is paying. Okay. And then and then you both sign it. Then you send that contract to the title company. And that's pretty simple. So, the title company knows. Okay, well the buyers paying this and they got their contract for this. So obviously the in between is your assignment fee. Okay? So just keep it simple. That's an easy way to do it. You don't have to have all these crazy things. Okay, just get the assignment contract. Okay.

Get Your 1st Deal In 30 Days! Part 6 🤑 | Wholesaling Real Estate

November 24, 2022


Step 5 is reach out to buyers. Now, how do you do that? The easiest way to do it, is you can post that deal now, be careful. You don't want to post your address, but you do want to post your deal on Facebook groups, like local investor wholesaler type Facebook groups or even on Craig’s list, you know, just say or even on Facebook marketplace to say, hey, I've got an off market property located on, you know, whatever major intersection that its closest to. If you're interested, let me know, you know, the RV is 150,000 And we're selling it for 75. It needs 30 in repairs. You know, just say something real basic like that. You're gonna get a ton of response. Don't let the analysis. Paralysis slow you down or stop you. But I will stress do not give the address out.

Get Your 1st Deal In 30 Days! Part 5 💵 | Wholesaling Real Estate

November 23, 2022


Step 4 after you follow up, you're gonna have a ton of people interested. So get the contract. Now you're gonna say I don't have a contract, who cares? Writing on a napkin, writing on a piece of paper. All you have to have is a contract that says you are buying so and so's house located at whatever for X Amount of dollars. And you're putting up you know $100 in earnest money or whatever it is, $10. It doesn't matter. You're gonna put up earnest money at this title company. You go turn that piece of paper in after they sign it and you sign it to the title company and they're gonna take that. That's a contract okay? Where there's professional or that? You've got one figured out. None of that crap matters. Okay. Just get the contract okay. Because massive follow up is gonna equal contracts I promise.

Get Your 1st Deal In 30 Days! Part 4 🔃 | Wholesaling Real Estate

November 22, 2022


Now, Step 3 is follow up on that list, like a madman or a mad woman, okay, whatever, whatever it is, but you have to follow up because the money is in the follow up, I've done a video on that, and it is so true. It's very rare if you ever get a deal on the first call or the first contact that you talk to someone, It's super rare, even in three or four context, it's really rare. Typical standards, you know, across the board on all sales is it takes 10-12 context before you actually get a deal or before you actually sell something. So, in our case is before you get a deal. So, you have to follow up like a madman or a mad woman. Okay, follow up is everything, so do it all the time?

Get Your 1st Deal In 30 Days! Part 3 🤑 | Wholesaling Real Estate

November 21, 2022


Step 2, you gotta market to that list like crazy. Okay, now you got to choose what kind of marketing you want to do whether that's, you know, texting or cold calling or ringlets, voicemail or direct mail. You know, whatever your choices, you gotta do it consistently. Okay, three or four hours a day minimum. If you actually want to be successful and don't worry about a script, just have a conversation with people. It's not that difficult. Don't overthink it. A lot of people try to say you have to have all these things set up to get a deal. That's not true. Just have a conversation with somebody and talk to them about their house and just ask them what's going on, see if they're interested in possibly selling. Okay.

Get Your 1st Deal In 30 Days! Part 2 😱 | Wholesaling Real Estate

November 20, 2022


The first thing you do in your seven steps is you got to get a list, you gotta find a motivated seller. Okay so how do you do that? So, like I said you can get a list whether you purchase that, you can actually go to purchase that on prop stream or you could get it on list source or there's all kinds of different list providers out there where you could buy a list. So, if you've got a little bit of money that's the faster way to kind of get that list is to buy one. Now if you don't have a lot of money go drive around the distressed areas in your community and write addresses down. So, what you wanna do you wanna look for these just distressed homes. It doesn't necessarily mean that the sellers distressed but it's a good indication that they might be.

Get Your 1st Deal In 30 Days! Part 1 💁‍♂️ | Wholesaling Real Estate

November 19, 2022


7 actual steps in getting your first deal in 30 days or less. And yes, it is possible because I did it myself and I know a bunch of people have, you know, and there's people that it's taken a couple of years to get a deal. But if you follow these seven steps, I promise you, you will get a deal in 30 days or less. Okay, so let's dive into it.

Talking To Sellers Is EASY! Part 11 🤷‍♂️ | Wholesaling Real Estate

November 16, 2022


And just remember, you know, when you're nervous in the beginning, you don't have to be because think about, you know, they're a distressed person, typically in most cases, so they're probably not the best talking on the phone either. So, your kind of in the same boat, they are in the beginning, but always act like you are the expert, you know, almost fake it till you make it, you know, that sounds terrible, but that's what it takes. You have to have that confidence, whether you know what you're fully talking about or not, just have the confidence so that they can feel that confidence coming out of your voice. It's all about kind of like your tone and how you speak to them.

Talking To Sellers Is EASY! Part 10 💵 | Wholesaling Real Estate

November 15, 2022


And then you know that's probably like 80% of the conversation is just them telling about themselves you know about the activities that they like to do about their family, about their goals for the future, about why they're selling what's their plans once they sell where they gonna go what would happen if we did buy their house from you know what would they do with that money? You know? Help them dream a little bit. Are you gonna go buy a new car? What are you gonna do with that money? You know what I mean? So just have them talking about themselves, their activities, their family, their dreams and goals and that kind of thing. Not yourself. That's the most important thing. I can tell you about this so.

Talking To Sellers Is EASY! Part 9 👍 | Wholesaling Real Estate

November 12, 2022


And you know obviously as you're listening, you're typing or you're writing your notes or whatever, you know, that's how you do that. You know if you have a CRM that you're using podia or whatever it is, you know, type all this stuff out because they're usually telling you everything that you need to know, you just gotta listen and be able to type it out or hand, write it down however you take your notes, but it's important, you know while you're listening, take those notes and just kind of go you know and you're listening cool wow. You know you're just saying all those kind of key words as the conversation goes along, just so they know that you're interested and you're intrigued.

Talking To Sellers Is EASY! Part 8 👂 | Wholesaling Real Estate

November 11, 2022


And that's the most important thing I can tell you is they don't care about you period. I'm not trying to be rude and I'm not trying to say, you know, whatever. I'm just telling you the facts. This is how we do it. This is how I train my acquisition managers to do it is just to truly listen to what the seller has to say, empathize with them, Ask more questions, just keep them talking because that's really what it's all about. Keep them talking to where they tell you all the information. Usually they're gonna spill their guts to you if you just have a good listening ear.

Did I Lose On This Deal? 🤷‍♂️ | Wholesaling Real Estate

November 10, 2022


What's up guys? My name is Graylan Stewart virtual whole cellar flipper buying the whole guy innovations, Creative finance. We'll see investor. So, thanks for joining me. This is a video I did about this house several months ago about potentially losing money. Now I refuse to lose money on the deal. So, the only real way you lose money on a deal is, if you bought it and then you're in it for more than it's worth and you sell it for that for a loss. Right? well, I'm not selling it. I definitely am at this point in it for more than it's worth. Sorry, motorcycles passing by. Don't mind me just YouTube video. No problem. okay, so as you can see it's fully remodeled now the outside looks amazing.
we are in November now, what is today? It's like the eighth or so 10th. I don't even know we're close to mid-November. At this point, I bought this house of June of 2021 so we didn't technically started until January, but nevertheless, it's taken us almost 11 months to complete this project. Now there was a lot more to it than anticipated originally because at first I thought I could get the deal done for about 50,000.


So, here's the numbers currently and I'm not done spending money all the way, especially since it's actually gonna be an Airbnb. So, there is ongoing costs. However. at this point, here's the numbers. Okay so I bought it for 100 and 1000 plus closing costs. I wasn't for +103 after closing And at this point I put about 148 into it.
So, do the math on that a minute for I don't know to 60 Is that right? Yeah about 2 60 or so. Somewhere in that ballpark. Now a few months ago as you know today the market is changing right? It has changed it's going down right? Not a ton but it's changed at least 20% in this area. So, I think this house was I could have pushed $300,000 A. RV probably at one point. But as of now probably lucky if it's 2 42 to 50 right now. And theoretically honestly the the actual Air B when I compare this out about three months ago was about to 68 or so.


Somewhere in that ballpark. So basically, I was at a break even then but now that the market shifted a little bit, it's probably closer to 2 40. Somewhere in there. If I'm lucky now I have a private money loan on this property for the first year was only 3%.
So, I had it really low Once it rolled over she did it for seven but only six months the second time.


So, I rolled it over in June obviously this year. So basically, I have till the end of this month before my note expires again. So luckily we are 99.9% done with this house ▪ ▪ Located 99.9 still got some things in the backyard since it isn't Airbnb making fun ▪ loud truck, ▪ ▪ trying to make it fun back there, got a horseshoe game set up, got three different wind sales, got outdoor furniture, got a grill, got cornhole set, so it's gonna be a fun, you know backyard, just a little destination three bedroom, two bath house. So originally I like I said I thought I could do this deal for 50 grand but I didn't realize that the back add on was completely terribly done wrong and incorrect. So, we literally tore that down all the way rebuilt it from foundation up and the rest of the house, it was the old school plaster, you know, I probably could have just dealt with it but the contractor I use is really particular and ancient lee slow, I don't know if that makes sense but he's super slow and it just took way longer than it ever should have.


So nevertheless, we ended up stripping it down mostly to the studs and I mean the finished product looks amazing. so, he is the best contractor I've ever used. He's literally three times more than I've ever spent on any contractor and he's probably at least three times slower. So that's a bad combination. Three times more and three times slower means six times more expensive I guess. So yeah, I spent 100 and 48 or so out of pocket. So far actually that's not even right. I spent 100 and 48 this year. I spent about 20,000 on it in 2021. So, I think I'm in it for 1 68 plus the +101103 after closing. So there you go. I'm in it for actually 1 70 is I think or 2 70. But either way I have a, you know local bank willing to do refi,so he's gonna come by Friday and just check it out just to see what all I've done.


And who knows where the appraisal will come in because the way the reef eyes work at least with this bank will give me 80% of the value. So, if he values it, you know, at 2 50 I can't do that math in my head, but to 50 10% of that 25 50 grand would be 20%. So yeah, so if you invited it to 50 I would get 200 loan right. Which means I could pay the 103101 loan back and I would pocket about 100 which isn't everything, you know the goal in this business when you do the bird strategy by rehab rent, refined, repeat ▪ the whole goal in doing the bird strategy is to get all of your money back, you know, or have very little in the deal if possible. It's very rare that I ever have any money left in the deal.


In fact, I don't know that I've, well I just re fired one earlier this week and I've got, I've got money left in that deal because it's one of those other deals, market change stuck with the flip now it's a rental instead. Nevertheless, you know, getting 100 of my money back is better than none of it at least. That's more money I can put to work and I can pay my lender off to because I sure don't want to roll it over again. I've already extended six months. So that's the goal. Hopefully by this weekend he'll be able to do the appraisal and then get the refi situated hopefully about a week later. And worst case scenario closed by the end of November and then, and then, you know, start renting it out. So, the goal is to get it because it'll be done by tomorrow, you know, within the next day I'll finish the backyard. I'm doing it myself. I drove down to Oklahoma City because it seems like the only way I could get these contractors to do work. So, if I'm here pushing them. So, I showed up and you know, got to crack the whip, make sure they're doing their job and not cut corners because I definitely found some things that they didn't do right or that they skipped over.


So, I made them do it right, I wanted to be here for the finish line, right? So, they do have to come back tomorrow to fix a little, you know, blue tape stuff, just touch ups and little odds and ends and then early Friday. So, I'm getting professional cleaning day after tomorrow and then professional pictures Friday morning. So, I hope to get it rented for thanksgiving weekend. That's my goal. And I think I will, it's in a good area where everybody wants to be. It's a three bed two bath house. Really nice 2022 standards. It's got all the fun things for kids. So, I think it'll turn out good. So, the moral of the story is, yes, I am in it for more than it's worth at this point, but I'm not gonna lose money because I'm keeping it, so I'm actually gonna make money, you know, I'm not getting all my money back on the refi, but I'll make my I'll make more, you know, in the long run.


Obviously, Airbnb make more than a rental because I could probably rent this for you know, 16, 1700 a month. And by the time I put a mortgage on it, it's probably gonna be around that price as well. So that's not really worth doing a traditional rent in this scenario. I might be able to push the rents to close to 2000 maybe.


But nevertheless, it's not a great cash flow property at this point unless the Airbnb and Airbnb was a goal all along since I do a lot of business in Oklahoma, have a lot of family in Oklahoma. So, it gives me a place to stay when I'm in town as opposed to having to do you know, hotels and things like that every time. So actually, stay with my son a couple of times as well. But it would be nice to have my own place that I can utilize when I'm here and hopefully make a few $1000 per month in the meantime. So, I'll let you know how that is. But I'll do a full video of of this entire property and break down the real numbers after I refi but then give you the entire before and after pictures and videos because it's a huge transformation.


I mean giant. I'm talking like this was probably one of the worst houses as far as design and layout goes and now it's fully functioning. Great house for any family that would want to stay in Oklahoma City would would love to stay here. So anyways, thanks for joining me. I appreciate you listening to me, let me know your thoughts on this. Do you think I'm doing the right thing? Obviously, I don't want to lose money. I refuse to lose. Never lost an ideal. And I'm not gonna lose on this one, so just gotta keep it for the long haul. And that's the goal anyways, Right? So anyways, thanks a lot. Please like share and subscribe if you haven't already and I'll see you guys next time.

Talking To Sellers Is EASY! Part 7 💁‍♂️ | Wholesaling Real Estate

November 09, 2022


If they say, yeah, I went fishing last week and blah blah blah with my brother. Lo I love fishing. You know, and you start talking about how you went fishing with your friends or whatever it is, you know? And to be honest, they don't care about you. I mean that's the cold, hard truth. They care about themselves. If you if you know, you know, even just from your own personal experience, you love talking about what you've done, what you like to do, how you do it. All those things you like talking about yourself and that's just how people are. They like to talk about themselves. So, it's important to let them do that. Nobody cares about you when you're talking to sellers. They don't care. Okay. So, it's important that you have that in the back of your mind and not to slip up and just start talking about yourself because although you might think it's building report, it's really not.

Talking To Sellers Is EASY! Part 6 🤑 | Wholesaling Real Estate

November 08, 2022


If we can't solve a problem, we're not gonna make money, okay, how can we solve a problem? If we don't know what's going on. So, it's important to dig deep into these sellers, because really what they're telling you is just, you know, for lack of a better term, it's just ammunition on what you can use against them. You know, whenever you're talking about the house, you know, and also, you know, they're just telling you the condition and, you know, all the different things about the property and everything going on in the situation that they're in. But really, you know, a lot of people, a lot of sales people at least tend to try to build rapport by, by common ground or having something, you know, in common with a seller.

Talking To Sellers Is EASY! Part 5 🙋‍♂️ | Wholesaling Real Estate

November 07, 2022


And usually, you know, guiding them in the right way, obviously asking the right questions. You know, they're gonna tell you everything. Most cases, they're gonna tell you everything that's happening with them, you know, and you just keep asking more, you know, and you can say really, okay, tell me more about that, you know, just to kind of keep them going, keep them talking because typically they're gonna tell you everything about the house, what's going on with it, why they're in this situation they're in, you know, it's just about having that quality conversation, being patient with it and not trying to over talk, you know, talk over them and that kind of thing, just truly listening and really caring about their needs because, you know, at the end of the day, us as wholesalers, we are problem solvers.

Talking To Sellers Is EASY! Part 4 ❓ | Wholesaling Real Estate

November 06, 2022


You know, quality conversations with the seller is what it's all about and the longer conversation and typically the more report your building and the better it turns out, I'm not saying talk on the phone for 30, 40, 50 minutes, you know, I'm not telling you to do that. you know, because I do have an acquisition manager that loves to talk and you know, a lot of times he's just wasting time because really, you know, what you want to do is just listen more than anything. And oftentimes if you ask the right questions they're going to tell you and you just kind of be quiet and just listen to what they have to say. You know, that's, that's really just sales one on one.

Talking To Sellers Is EASY! Part 3 | Wholesaling Real Estate

November 05, 2022


So, when you do have a seller on the phone, you know, just act normal. You know, it's okay that you're probably not an expert yet. They don't know that that's the thing. They're probably as nervous or more nervous than you are because they're in a situation that is typically embarrassing to them in a lot of cases or, or a lot of times they just, they don't even necessarily tell you everything that's going on. Sometimes you have an idea based on the list that you that you had, however you got that cellar, you know, whatever kind of marketing you did, whether that's them calling you are you calling them? You typically will have a list. So, you kind of have an idea of what their motivation could be even though they don't always tell you that.

Talking To Sellers Is EASY! Part 2 😇 | Wholesaling Real Estate

November 04, 2022


You know, talking to sellers it's really easy, you know, you're just having a conversation that's really what it boils down to is quality conversations with sellers okay? You know, and often times when you start out you might be a little nervous and that's okay nerves or normal. At least you're taking action and you're doing something not just relying on other people or on hoping that someone might, you know, call you or something like that, but just taking proactive action to actually talk to these sellers is important.

Talking To Sellers Is EASY! Part 1 💁‍♂️ | Wholesaling Real Estate

November 03, 2022


One of the biggest things in skill sets that you have to develop is talking to sellers because that is how we get deals, right? So obviously marketing is the lifeblood of a business. But then, you know when that marketing starts coming in, you have to be able to talk to these sellers and know what to say and how to handle them and kind of read into what they're saying sometimes and ask more questions, too. So, let's just get into it.
 

Investing In Mobile Homes! Part 11 🤝 | Wholesaling Real Estate

November 02, 2022


I own houses in eight different, counties in one particular state because I don't care where I buy. If it's a deal, I'm gonna buy it. You know, some people want to be like, I'm gonna be in this particular area. Hey, if I'm virtual wholesale and I can virtual buy houses and landlord and all those things as well. So, and I, and a virtual flip too. I mean, I flip, it's about 1000 miles away from where I live and we flip one or two houses every single month and I've got a local contractor that I trust. You know, it takes time to build the trust and the people on the ground for you, But it is.

Investing In Mobile Homes! Part 10 💵 | Wholesaling Real Estate

November 01, 2022


I'm all in on a house for $5000 that I'm making $300 to $400 a month forever, as opposed to a single family home that you're putting, you know, $10,000 to $20,000 down on a lot of cases and you're making a lot of times one or $200 a month cash flow. Yes, it's an asset that you can have all those benefits of tax wise. But at the same time, cash flow is really where it's at, especially when you're new, you know, building your cash flow up is kind of what can replace your income eventually. So that's kind of what my goal is just for cash flow and eventually I'm sure that will change and it may or may not. I mean I'm kind of in the mindset to where I'll buy anything that makes sense. I don't care if a single family, multi family mobile home, whatever it is, if I can make money at it, I'm gonna buy it. I'm not picky

Investing In Mobile Homes! Part 9 🤏 | Wholesaling Real Estate

October 31, 2022


I'm really just looking at what can I charge monthly, how fast can I get my money back that I put into it and then what are people willing to pay for other similar properties with similar square foot or less ▪ in apartments or single family homes for that matter? And typically, they can get into a mobile home a little bit for a cheaper amount. And I make them, like I said, I make them nice to where they're clean, safe and affordable. So, and we do typically put new carpet and that kind of thing in there, so it always smells good and looks good. So, it's hopefully a place that they're proud to call home. So, in my opinion, mobile home investing is awesome. You know, and yes, you can hold still those deals if you want or if you want to try to build your portfolio on a cheaper, you know, buy in, you know, that's the way to do it.

Investing In Mobile Homes! Part 8 👨‍👩‍👧‍👦 | Wholesaling Real Estate

October 30, 2022


If I can make that kind of cash flow and that's forever, you know what I mean? That's just forever mailbox money, you know what I mean? So why wouldn't you do that? Who cares if it's a mobile home? You know, the whole goal on mobile homes, you definitely don't ever want to over improve them. Never put granted in or, or hardwood floors or anything crazy like that. All you want to do is make it safe, ▪ clean and affordable? That's really it. Is it a safe place to live? Is it all clean? And is the place affordable? You know, because if you can get a three bedroom, two bath house for 900 a month and the apartment down the street giving you a two bedroom, one bath for $1150 a month. I mean, what are you gonna choose? Own your own mobile home? That's really nice and remodeled? Or do you want to just go to the apartment where you're just throwing money away and a lot smaller space? So that's typically.

Investing In Mobile Homes! Part 7 🏡 | Wholesaling Real Estate

October 29, 2022


Mobile home investing can be big and you can wholesale those. You know, I could find, you know, somebody that probably would want to pay $15,000 for that mobile home just for the cash flow. But a lot of buyers, you'll see a lot of investors shy right from those because it is a depreciation asset, depreciating asset. But at the same time, you know, a lot of these same buyers are only making $150 on a, on a on a regular single family home per month on cash flow. And, you know, I like, I like more, you know, I mean, typically I want at least $400 a month in cash flow. but $300 is my minimum, typically. So, if it's $300, $400, you know, I'm good, or if it's higher, that's even better.

Investing In Mobile Homes! Part 6 🤑 | Wholesaling Real Estate

October 28, 2022


So, mobile home investing can be good. So, if you've ever thought about it, don't let people deter you from it because it can be profitable or very profitable because if you think about, if I'm all in on five grand, you know, on a property, $400 cash flow times 12 months, that's for $800. So that's only, that's almost like 100% cash on cash return. If I spent five grand and I made five grand that year, I got all my money back the same year. You know, that's 100% of my money back year one. So, everything after that is gravy, right? It's all profit from there on.

Investing In Mobile Homes! Part 5 🤷‍♂️ | Wholesaling Real Estate

October 27, 2022


Mobile home investment is something that I do. It's not sexy. You know, a lot of people won't do it. You know, they just want single family because it's an actual asset. You know, mobile homes are really a depreciating asset if you think about it because they don't gain value like a single family or multifamily would do. It does decrease in value as time goes on, but if you're making three or $400 every month for the next 15 or however many years, who cares? That's awesome, Right. Especially, you know, kind of my rule of thumb is on a mobile home is I'm gonna buy one for more than five grand and that's just the way I do it

Investing In Mobile Homes! Part 4 🤑 | Wholesaling Real Estate

October 26, 2022


I sold it on a rent to own for $38,000 and they're paying me like $850 per month. So, it's huge cash flow, 12% interest over a 15 year period. I mean it's a win in every scenario and it's a super nice place, you know, I just got a smoking deal on it and you know, I sold it for top dollar and to be honest, the park, they sell their new ones for 55 - 75 depending on you know how nice it is. So, getting an almost brand new house, you know, four years old for $38,000 was a smoking deal for the Empire as well. So, you know, so they want too.

Investing In Mobile Homes! Part 3 💵 | Wholesaling Real Estate

October 25, 2022


I bought a 2015 model trailer once in a mobile home park and now the lot rent is around $400 a month. The local rents in the area where 88 50. So, I figured well that's pretty good gamble and into 2015. How bad can it be? And so, keep in mind I bought this in like early 2019, I knew that I could make money on it because I bought the place for $2000. So, you can't really go wrong with 2000 bucks, you know, I don't care what it is if it's just a lot, it's worth 2000 bucks. Obviously, this isn't a lot, I don't own a lot because it's in a mobile home park.

Investing In Mobile Homes! Part 2 🤏 | Wholesaling Real Estate

October 24, 2022


Whenever I buy mobile homes, I'm not buying those to wholesale or to flip or anything else. I'm buying those for cash flow and that's it. To be honest, I'm buying those just to keep for myself to bring me monthly income forever. Okay. So, the way that I actually buy those though, I do want to buy them cheap like we do anything else, you're still looking for a motivated seller willing to sell you a property for a lot less than typically what you can sell it for when it's all fixed up. Okay.

Investing In Mobile Homes! 🤔 | Wholesaling Real Estate

October 23, 2022


What is mobile home investing? So, let's just get into it. I bought mobile homes a couple of years ago in a community and I just happened to see these deals on Facebook marketplace, so I was like, well, it's worth a chance. Let me see what it's all about, right? It seemed like a cheap enough deal to where, you know, I figured I would just jump in and buy it. So other mobile homes, I've come across our plate in previous times, and I've just always kind of shied away from it because I wasn't really sure like how do I even analyze it to be honest.

You Can Do This! Part 11 📜 | Wholesaling Real Estate

October 22, 2022


Truly do what it takes. You know, now is the time not later. What are you waiting for? Tomorrow's not gonna be different. Just like when you're a new married or whatever, you're always like, okay honey, when should we have kids? You know, let's wait till this. Let's wait till this, wait till we can afford it. Well, the point is, I mean I have four kids so I know you can never afford it, right? Just have the kids if that's what makes you happy and that's what you want. Just have the kids. It's the same way with whole selling. You know, you're always waiting for a better day or I gotta learn this first or I got to do that or when things are in place or you know all these things, forget all that I'm telling you right now. Just do it. This business just takes action. That's all it takes. Be willing to do the action every single day consistently day in and day out until you make your dreams come true. And that's really it.

Real Estate Novations Explained ✅ | Wholesaling Real Estate

October 21, 2022


So whether you're new to wholesaling or you've been doing it for a while, you probably throw away a lot of leads that you don't have to throw away because you think they're no good because maybe they want closer to retail. Well, I've got the perfect solution for you and no, it's not creative financing is something even better in a lot of cases. Stay tuned and I'll show you exactly what I'm talking about. Hey, what's up guys? My name is Graylan Stewart. Thanks for joining me today. I am a real estate investor entrepreneur, virtual wholesaler. We do innovations, creative finance, a little bit of everything fix and flips, buying holds. So, my channel is primarily about wholesaling real estate because that is to be honest, our first exit strategy in our business. That's our goal on every property is to wholesale it. If we can't wholesale it. Sometimes we pivot end up keeping the property as a rental. We might fix and flip it or we turn it into innovation deal, we might hotel it or ▪ we might try something more creative. But today's video I'm talking about specifically Novation. Okay, so you've probably heard me mention it a couple of times throughout some of my videos recently. Okay, now we started doing innovations just a short few months ago and it's definitely been a game changer. So, you may not have even heard the term because it is still fairly new as far as people talking about it. But innovations have been around for a little while, but essentially what you're doing when you're doing innovation deal, it's essentially you're selling a property on the mls, just like a traditional realtor does. But we're selling it to these, you know, actual via F. H. A. Conventional buyers. You're kind of wholesaling on the mls. It's sort of a hybrid K.


It's like a hybrid between wholesaling and actually retailing the house, like with the with the regular realtor, you know, to a regular conventional buyer. Okay, so that's kind of what it is. It's really just a hybrid K. Now, how do we do the novation deal? Really, it's all in your conversation. So, the criteria is you're really being more upfront with the seller. You're kind of telling them like, hey, you know, this doesn't really work for us. Obviously, you know, for cash, we have to be at $55,000 and I know that you won't drop below 75,000. So, really cash option just won't work for you or for me either one, right, But we do have another solution. It's a solution that Gives you your price at $75,000. And on top of that, it allows us to just take over the entire process for you to where you literally just have to sit back and wait for the closing date to get your check. Okay, now the way it works is we will actually get three contracts signed up front from the seller and then we'll get one more signed once we find a buyer.


So, there's actually four contracts for agreements or documents that you have to get signed in innovation deal. Okay. So, what it really is your, your wholesaling on the mls legally. And we are acting as the seller on behalf of the seller because they sign either a power of attorney or attorney. In fact agreement allowing us to sign on their behalf. So we're signing on their behalf. We're negotiating with, other realtors and things like that. But I get this question often and we even get it from our sellers not necessarily from our sellers, but we get it from like my acquisition managers, especially when we first started doing them. They're like, well, why wouldn't somebody just go list their house if that's all we're doing for them. Okay. So here's the difference and it's all in your presentation and how you present it obviously.


But really what innovation deal is just a legal way for us to list the house on the mls for top dollar. Okay. But the criteria is obviously you're having a different conversation. You're more up front with them. But I wrote some notes down here. The properties are typically in pretty decent condition. So it's livable. Right? These aren't the hoarder houses or the super junker houses that are boarded up, falling in roofs or any of that. Okay. They're usually a little bit nicer house. They might need some repairs, like some paint cosmetics, but typically nothing super major. All right. And then the time commitment from the seller is important because usually a wholesale do a part of that part of the reason they these sellers gravitate to wholesalers or people offering cash for homes and things like that is because of our time. Okay. We're telling them we're gonna pay cash and close fast, right? And that is what intrigues them. They need the cash and they want it fast, right? But when you're doing innovation deal, time is not necessarily a factor for them. They're like, yeah, we can wait a little bit because I'm not dropping below by 75,000. I need that. Let's just use 100,000. I always use that as an RV because it's simple math, $100,000 house. We oftentimes want to be in the 40 to 50 range probably. But let's just say we were trying to offer 55 because it's not horrible shape, but it does need some work and they just flat won't come off of 75.


So, in that scenario we're like, well we have another solution for you, that we can help you out with, you know, we kind of explain the process. All we need is a little extra time since you're not really in a super hurry and you want your price, we can give you your price, but we need a little more time. You know, not our typical 30 day close, but you know, maybe even up to 90 days, 60 to 90 is what we're asking you to commit to. So, give us time and also allow walk through is because we are going to shop this to our pool of cash buyers being totally upfront like I said, and we're gonna put this on the mls and all other websites for the world to actually see this property. And they're like, sometimes they do ask, well why wouldn't I just list this myself if you're doing that? Well here's the difference Mr seller. Now we're offering this service to where you have your price up front and you literally sit back and wait for closing date, show up at closing and sign some documents and get your check. Okay? Now if you're gonna list us on the mls, you're gonna be dealing with the realtor back and forth, they're gonna be calling you all the times is this time okay for showing is this time okay?


You know, then they're gonna get to the inspections and tell you you gotta fix this, gotta fix this, gotta fix this. Then you gotta pay for all those things and wait, go through the hassle of finding your own contractors to do those things. Then you're going to finally get to closing and you've got your closing costs, you're gonna pay realtor fees, you're gonna pay all these different fees and headaches right? So, the difference with us as opposed to you going through all of that mess. Just let us handle all that for you. We give you your price up front. You get your 75.


Now we might sell this this house for 80,000 and they might ask for $5,000 in repairs. So we're taking all the risk. We're obviously breaking even or probably losing because we're also paying realtor fees and closing costs for you. So that's why when you're when you're doing these deals you do have to get these at the right price still but you can't pay more we can probably pay 75 at the house is in decent condition. Just needs cosmetics because we're gonna list it for 100 at the A. R. V. Right? And let's just take off 10% for all those fees. Smaller repairs after the tr r which is the repair list after inspections. The closing costs and realtor fees. Now we typically list it with a flat fee realtor that'll charge a couple 100 bucks to list it. So, we're really only paying 3% on the back end to you know a buyer's realtor. Okay so we're paying 3%. They're usually closings close to 3% and we factor in a couple of percent for the repairs. Okay? So we just knock off 10 grand from the get go. So, you got $100,000 house, we're probably gonna list it, at $100,000 but we're already kind of deducting 2 90 as our fees that we're gonna have to end up paying on the end. Okay. So, we have a $15,000 spread built in of profit because we're gonna take our 10,000 out for potential fees that we're gonna have.


So therefore, in in a recent, you know, previously we would have just said, well, you know, we would have maybe pitched the creative finance, you know, we'll take up our payments or, you know, we, we can give you your price if you give us the right terms, you know, and a lot of times they don't want that, they just want their money. Right? So in that case we'd have through the lead away because they can't get to our 55 at our max offer. and they're stuck on 75, you know, that's 20,000 are gap that we just can't close. But now with innovations that $100,000 house, we're gonna sell for maybe 98 you know, negotiate a little bit with the buyer and then we're taking 10 off. So, we got 88 ▪ we got it at 75. So that's a $13,000 spread that we got there. So that's essentially the wholesale fee that we typically, I would have just thrown in the trash before, but now we're, we're basically pulling $13,000 out of the air where we just brought a dead lead back to life, if that makes sense. So, innovations are powerful. Y'all, it's, it's definitely changed our business. We've got, I was just looking this morning, 24 deals in escrow and 10 of those are innovation deals. So that is a game changer. That's 10 leads that we threw in the trash, literally that were no good at all that. And now we're probably gonna make 10 to 20 even 30 grand on some of those. so, it's the same deal. We, we still want to make a minimum of 10, 15 grand on a deal. but we can just pay a little bit more.

So therefore, you don't really have a lot of competition because all the other cash buyers and wholesalers and fixing flippers and landlords are offering people these same people around the same price. We probably did 55 they might get up to 60 but nobody was ever able to give them their 75 unless they did creative financing, which they didn't want because they're gonna get their money over time.

But if they want their money now, it's in decent condition and they're willing to wait a little bit and let us show the house here and there, then boom, you got innovation deal profit ready to happen. So anyways, hopefully all that made sense. Drop me some comments, I'll do some other videos on innovations, I'm definitely gonna make a mini course innovations just to kind of share more value for the ones that that want that, you know, totally optional, obviously, but hopefully this is beneficial, dropping a comment. Let me know your thoughts like subscribe share. Do all those things to help me out so I can keep bringing you free content. Thanks a lot. And I'll see you in the next one.

 

You Can Do This! Part 10 💵 | Wholesaling Real Estate

October 20, 2022


Like other A. T. Ms. You have to have money in your bank to be able to put your code in to get money out. So, the same way on this, you have to have leads in your CRM or coming into your pipeline to be able to type your pin code in for money to come out, you know, the same kind of thing. You have to feed it. And and it gives you more, right? So that's kind of how that is to me, but wholesaling is a great way to do that. It's gonna be my year for sure. I already know it's gonna be the best year I've ever had. Not only it's because I'm saying it is because I'm gonna make that happen. I'm not gonna try to make that happen. We already went over that right. Triers are liars, trying means nothing to me. I don't even don't even use that word because it means nothing.

You Can Do This! Part 9 🤑 | Wholesaling Real Estate

October 19, 2022


So, my wholesaling fees actually pay for the flips that we do you know and the rentals that I keep, you know it's because of wholesaling that's just a stepping stone you know and that could be whether you're wanting to do apartments or whatever it is if you're wanting to hold properties for long term wealth. Wholesaling real estate will help you build that cash flow. You know because it's literally like an A. T. M. Like if you just picture this whole selling contract here and you've got this whole selling assignment contact you just put these together side by side type in your pin code and out, spend some money. I mean it's amazing. It's literally an A. T. M. That's what I love about whole selling.

You Can Do This! Part 8 🏦 | Wholesaling Real Estate

October 18, 2022


Wholesaling real estate can just be a stepping stone for you to do more and to actually invest in real estate, not just be a wholesaler because keep in mind, you know, you're not a real estate investor. If you're not actually invested in homes, okay? You're just a wholesaler. If you're if you're selling paper, you're selling contracts and that's okay, because that's our main goal, that's what we want to do all day every day. But yes, I am an investor to I do buy houses, we do actually flip houses and we do keep them as rentals as well, but it's because of the whole selling money that we get enables us to do that, okay.

You Can Do This! Part 7 💰 | Wholesaling Real Estate

October 17, 2022


You're truly a hustler like, you go do whatever it takes to get done to get things done, you know, whatever you're doing, like a real hustler, then wholesaling real estate is where it's at, I'm telling you right now, and what that is that's a building block for you to become an investor, Okay, a real estate investor. Because I do believe real estate, if you, you know, I haven't looked at myself, but I do believe that real estate is one of the best ways that you can make money, and it's also, one of the top ways that people have become millionaires is through real estate in general. Okay.

You Can Do This! Part 6 💪 | Wholesaling Real Estate

October 16, 2022


You can you can earn multiple six figures a year, you can earn seven figures a year, you can earn whatever you want if you're willing to do it. And I would say, you know, one of my channel or one of my videos on this channel, I've talked about how whole selling real estate is the best side hustle there is, and I truly, truly believe that if you really have that hustle, that some people have, some people don't, ▪ and I'm not talking about just a normal hustle, I'm talking about do and do whatever it takes, kind of grit and hustle and desire and want more and strive for more. You know, if you really have that in you, I truly believe Wholesaling real estate is the best side hustle there is if you're truly a hustler.

You Can Do This! Part 5 😇 | Wholesaling Real Estate

October 15, 2022


And whether I reached that or not, I always strive to do that, and I always believed I was the best whether I was or not, and I usually was I was usually one of the best at everything I've done. You know, because that's what I strive for. I don't take anything less, you know, as an option, right? And, you know, because I want to be that 1% and no matter, no matter what I'm doing, whether it's physically spiritually, mentally, in business, in athletics, whatever the case is, okay, always strive to be better, strive to do better, strive to want better and nobody can do it or want it for you. You have to do it yourself and want it yourself if you want to really change your life.

You Can Do This! Part 4 🙋‍♂️ | Wholesaling Real Estate

October 14, 2022


But if you want to do something, you want to change your life, what are you waiting for? Do it today? Make that the year that changes you and your family's legacy? Okay. That can be whether that's wholesaler or not, it doesn't even have to be wholesaling real estate. Whatever you decide to do with your life, give your all, you know, that's kind of what my mindset has always been my whole life and everything that I do. I also used to be on the national USA tumbling team and I did that for years and years. I won nationals 16 times and it wasn't because I tried, you know, because I did it, you know, and that's just what you do. I've always strived to be the best at everything that I do.

You Can Do This! Part 3 💵 | Wholesaling Real Estate

October 13, 2022


If you want to make money start today, there's no tomorrow, you know what is tomorrow? There's no such thing. And also, people are like, well, I tried this or I tried that. You know, what does that mean? What does try really mean? Is that even a word I mean? Truthfully try. What is that? I mean, I tried something. A guy that I used to know, he was an acquaintance. Wasn't really a friend. Just a guy that I knew. He used to say Triers are liars. What does try mean? Either you can or you can't right, that's the bottom line. You will or you won't, you're gonna do it or you're not, there's no trying things, okay? You don't try wholesale and you're gonna do it. You're gonna wholesale the deal or you're not.

You Can Do This! Part 2 😇 | Wholesaling Real Estate

October 12, 2022


I was doing 1%. I was, I was doing what, 99% of all the other reps in the nation. There was about 600 or so reps nationwide and I was in the 1% for that reason because I was willing to do the things that the other 99% weren't willing to do. And that's really the bottom line. So, it's no different in wholesaling or any other business that you're in. Trust me, just be willing to do the work. Okay. You can't have analysis, paralysis learning forever and ever, you know, you know, all those things. Yeah, sure. You always want to be learning. It's always good to freshen up your skills to learn new things and to always grow, okay, grow as an entrepreneur, grow as a wholesaler, grow in your knowledge and everything that you do.

You Can Do This! Part 1 👍 | Wholesaling Real Estate

October 11, 2022


You know, people always ask me like Graylan, what is your secret? How do you get so many new sales? You know, because average for form our office at least out of 50 or 60 reps in the office I was in was, you know, most reps will get about 20 new sales every year and I never went a year without doing at least 100. My very first year. I did 100 and 89 but I always did 100 and 50 or so, pretty much every single year I was there and there was no that's the thing, there's no magic or any or anything special that I was doing. I mean, the main difference was I actually worked, you know, I actually did the things that others wouldn't do so that I could have the things that others didn't have in order to become the 1%. You must do what the other 99% won't. And that's exactly it.

Top 5 Lists That Actually Work! Part 6 🌎 | Wholesaling Real Estate

October 07, 2022


Probably my most favorite is tax delinquent. So, tax delinquent list is awesome. So, tax delinquent list, you can get straight from your local county. Okay. Now, every county across the USA obviously are different. So what you can do is you can call the county and a lot of times they may not even know what you're asking or what you want, but you just gotta be diligent and Resistant. Just like we do with sellers, you know, follow up, you know, try to find out the right person and somebody eventually will know what you're talking about. Just tell them that you're looking for a list of all the properties that are behind other taxes. Okay. That's a good way to ask for it. The tax delinquent list is really good. I'm even still using a list from 2018 that we still get deals from.

Top 5 Lists That Actually Work! Part 5 🔍 | Wholesaling Real Estate

October 06, 2022


Another list that I love is what I call sweet spots. All right. So, what I call sweet spots is what you're doing is trying to searching out all of the zip codes in that particular county and just looking at the most active areas as far as all the flipped houses. That's that's happened in those areas. And those are gonna be your best areas, because that means that's where cash buyers are buying the most. So that's where you want to try to find houses the most okay to wholesale. So, I call that sweet spots because you're kind of looking for those sweet spots, those little pockets of areas, specifically in specific zip codes in your local area, wherever you're trying to wholesale. Okay.

Top 5 Lists That Actually Work! Part 4 🏡 | Wholesaling Real Estate

October 05, 2022


Another list I'm gonna write down for you is vacant homes. There are a couple of ways to get a vacant list. The source to get vacant properties is directly from the post office. Okay now I don't mean you go to go down to your post office and ask for a vacant list cause they're probably gonna laugh or not even know what you're talking about. Okay. You can be friend your local postal worker, your actual postman in your neighborhood or in a neighborhood that you think has a lot of vacant or abandoned type homes. But the easy way is just to you could drive for dollars just on google earth or on all kinds of different, you know, platforms or you could just buy a vacant list from prop stream or something like that.

Top 5 Lists That Actually Work! Part 3 🤷‍♂️ | Wholesaling Real Estate

October 03, 2022


So, another one I've got these written down is tired landlords, what that means is it's typically a landlord that they ended up landlord ng by accident. A lot of cases, it's just a list of landlords that, you know, it's maybe they own one or two other houses, that kind of thing. And they're just tired of dealing with rentals, you know, they're, they're not really into trying to collect rent every month, they don't care about it, they're not doing it to make future money and that kind of thing. They're really sick of it. Okay, so tired landlords is what I call that list and that's one of my favorite.
 

Top 5 Lists That Actually Work! Part 2 💁‍♂️ | Wholesaling Real Estate

October 02, 2022


First one I'm gonna put on here is called equity absentee, that's what I call it. Okay. Equity absentee. So what does that mean? So obviously, in whole selling, unless you're doing subject to or something like that, but in whole selling typically we need equity because that's how we make money. Okay? so obviously wholesaling is when a seller, a motivated seller is willing to trade equity For time and convenience that we that we provide as a wholesaler, okay. If it doesn't have equity, it's not a deal. Okay. Most investors want to have 25% equity after everything, okay?