119: How To Shrink a Large Gap in Offer Price

In this conversation, David Lecko interviews Phillip Placencia, a successful wholesaler. Phillip shares his experience of making $7,500 on his first wholesale deal and provides valuable insights into negotiating with sellers and addressing price gaps. He emphasizes the importance of building trust and providing value to sellers. Phillip also discusses his transition from corporate America to full-time real estate investing and the growth of his business. He highlights the benefits of starting with wholesaling and shares his future plans for a development company and a tiny home community.

Takeaways

• Wholesaling is a great way to start in real estate as it teaches sales and marketing skills, negotiation, and the legalities of real estate.

• Building trust and providing value to sellers is crucial in negotiations.

• Hiring the right team members is essential for scaling a wholesaling business.

• Social media, especially platforms like Facebook, can be a powerful tool for building a brand and generating referrals.

• Wholesaling can be a stepping stone to other real estate ventures, such as development projects.

Chapters

00:00 Introduction and First Wholesale Deal

01:34 Making Offers and Negotiating with Sellers

04:17 Providing Value to Sellers

06:15 Addressing a Large Gap in Offer Price

08:12 Preventing Disappointment for Sellers

10:28 Transitioning from Corporate America to Wholesaling

12:57 Hiring and Building a Team

15:26 Future Plans and Expansion

20:40 Starting with Wholesaling

23:18 Possibility of Meeting in Person

David's Social: @dlecko

https://www.dealmachine.com/pod

Ryan's Social: @heritage_home_investments https://www.heritagehomeinvestments.com/