College Student to Millionaire: How Wholesaling Changed Greg's Life
Greg Helbeck's journey from a broke college student to a real estate millionaire is an inspiring story of perseverance and learning through wholesaling houses. This post explores Greg's background, how he got started, and the strategies he used to build a successful business flipping properties.
Greg's Background to Real Estate
Greg first discovered the concept of real estate wholesaling at a seminar when he was 20 years old and in college. Wholesaling involves putting a property under contract and then assigning the contract to an end-buyer for a profit.
The model resonated with Greg and seemed like a viable way to make money in the real estate industry without large amounts of capital. After the seminar, Greg started taking action by marketing and looking for his first deal.
Over the past 7 years, Greg has gone on to complete over 150 wholesaling deals and become a self-made millionaire. He now runs a real estate business focused on wholesaling real estate and flipping houses full-time.
Greg's story shows that real estate can be an accessible opportunity for those willing to learn the skills required. With the right mindset, wholesaling houses can lead to life-changing success.
Completing His First Deal
Greg got his start wholesaling real estate with just $100 in his pocket. It took 9 months of effort before he got his first hot lead.
A woman named Cheryl called Greg about a property her daughter was living in. The house was in poor condition but Cheryl didn't want to list it publicly.
Because Greg didn't have funds to purchase the property himself, he brought the deal to a local investor named Dave. Dave provided the capital and found a buyer who was willing to pay $10,000 in assignment fees.
Greg and Dave split the profits 50/50, so Greg walked away with $5,000 from his first deal. This initial success gave Greg belief in himself and the wholesaling business model.
Growing Through Consistency
That first deal ignited Greg's passion for investing in real estate. He became determined to pursue more deals after getting that first taste of success.
It took consistent effort over many months for Greg to complete his second and third deals. But with each one, the process got a little easier as he gained more experience.
In the beginning, Greg took massive action by marketing through direct mail, bandit signs, and repeatedly following up with sellers. It took hundreds of touches before generating a solid lead.
Now, after 150+ deals, Greg has built an efficient system to generate deals consistently. This allows him to be less involved day-to-day.
The key is consistency over an extended time period, especially as a beginner. As Greg put it, "If you want a deal, go get a deal."
Scaling and Systemizing His Business
Once Greg had some deals under his belt, he focused on scaling his real estate wholesaling business through systemization.
Greg knew that by streamlining operations, he could leverage his time and continue growing. It took 3 years before Greg's business was running smoothly without heavy daily involvement.
Some of Greg's marketing strategies today include direct mail, PPC, SEO, driving for dollars, skip tracing, and online channels.
Direct mail provides a steady flow of seller leads. Greg also emphasizes doing deep research to create highly targeted lead lists. This has helped him scale substantially.
Greg now completes around 40 deals per year, with average fees of $25,000-$40,000 per wholesale deal. Systemizing and scaling his business has allowed Greg to become a self-made millionaire.
Gaining More Freedom
One of Greg's initial goals was to gain location independence so he could run his business from anywhere.
After 3 years of persistence, Greg succeeded in virtualizing his real estate company. As he says, "My business is not directly tied to my location."
Greg can now operate his business on the go through his phone and laptop. This flexibility has allowed him to travel the world more freely.
Key Lessons Learned
Greg has learned many lessons over his 7+ years in wholesaling. Here are some top takeaways for new investors:
- Leverage other people's money. Use joint venture partners if you lack your own capital.
- Take consistent action. It takes hundreds of touches to get a deal. Stay persistent.
- Learn necessary skills. Focus on improving marketing, negotiation, sales, and analytical abilities.
- Virtualize the business. Remove yourself from day-to-day operations to gain freedom.
- Mindset matters. Adopt an abundance mindset, especially in the early days.
Greg's story reveals that with determination and the right mindset, financial freedom through real estate is possible. Wholesaling can be an accessible opportunity if you commit to relentless action and continual learning.
About Samantha Ankney
Samantha has been a media specialist for DealMachine for 2.5 years. She produces, edits, writes, and publishes all media that is distributed to the DealMachine and Real Estate Investing community.