Mar 8, 2021
In today's episode, we have David Dodge a St. Louis Real Estate Investor with over 17 years of experience.
David gives a lot including how he uses the wholesale income to build his 100 door portfolio. For him, wholesaling is a marketing game, you have to understand the need to do marketing to get people to ring your phone in all wholesaling and how we can have a unique look at it because wholesaling is to provide liquidity to the marketplace.
He first started investing in Real Estate when he was in college, at the age of 20 while attending the University of Missouri-Columbia. David specializes in wholesaling real estate as well as teaching others how easy it is to learn how they too can wholesale Real Estate for huge profits.
David and his team have wholesaled over 600 houses to date and his company โHouse Sold Easyโ averages about 8-10 wholesales a month.
David also loves to fix-and-flip properties as well as add properties to his rental portfolio.
David has over 50 rentals currently and he has a goal to take his rental portfolio to over 150 properties in the next 24-36 months.
Make sure to listen to the full episode as he provides us actionable tips and key metrics that will help you along your journey!
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- 3:25 David got started early with house hacks in college
- 12:50 Wholesaling is a marketing business
- 13:50 4 months without a deal with a coach closed 2 deals in 1st month
- 17:29 Look at what youโre building not where you are now
- 19:20 Wholesalers provide liquidity to the marketplace
- 21:35 Davidโs psychological perspective when dealing with sellers
- 25:21 Davidโs most effective marketing strategy currently is radio. The highest ROI is cold calling and text
- 28:08 The biggest mistake is trying too many marketing strategies
- 29:15 $100,000+ deal from driving from dollars
- 33:49 Wholesaling is a job, so David uses the BRRRR method
- 35:35 Listen to Davidโs goal itโs not what you think
- 42:25 2 Types of marketing: Hunting & Fishing
- 46:30 Marketing is an expense in the beginning
- 47:20 4-6 months from contract to close
- 55:49 Davidโs explanation of the wholesale process
- 57:50 How to use your Inspection Period
- 59:10 How to strategically make your offer
Tweetable Quotes:
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Additional Resources:
- Free Couse on Wholesaling Real Estate: http://freewholesalecourse.com
- Free Blueprint โ Wholesaling Blueprint: http://freewholesaleblueprint.com
- Book -> The Ultimate Guide to Wholesaling Real Estate: https://amzn.to/2MyYgxo
- Book -> The BRRRR Method: https://amzn.to/3g7OWMN
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Enjoy the Real Estate Journey!