Create Wealth through Real Estate Wholesaling
Are you feeling trapped in a nine-to-five job? Underpaid and dreaming of a better life? If so, this blog post is for you.
We will explore the inspiring story of Ryan Dossey, who made the bold decision to leave his job and start his own real estate wholesaling business. With determination and hard work, he went from making $23,000 a year to closing 74 deals and skyrocketing his earnings. We will dive into detailed insights and strategies to help you escape the confines of traditional employment and unleash your income potential through the power of real estate wholesaling.
The Journey to Financial Freedom
Ryan Dossey's journey to financial freedom began when he realized that his job as a police officer would not provide him with the life he desired. He had always been a hard worker and achieved success early on in his real estate career. However, as time went on, he found it increasingly difficult to make money in his job, and his compensation decreased significantly. This financial struggle, combined with the desire for a better life, led him to explore opportunities in real estate wholesaling.
The Basics of Real Estate Wholesaling
For those unfamiliar with real estate wholesaling, it is a strategy of finding distressed properties, getting them under contract without using any of your own money, and then selling the contract to an investor who has the funds to complete the deal. This enables wholesalers to make money without the need for significant upfront investment or the risk associated with property ownership.
The First Deal that Changed Everything
Ryan Dossey's first deal in real estate wholesaling was a game-changer for him. Despite making mistakes along the way, such as listing the property on Zillow as "For Sale By Owner," he managed to net a profit of $10,000 after reimbursing expenses. This experience opened his eyes to the potential of real estate wholesaling and gave him the confidence to pursue it further.
The Importance of Alignment in Partnerships
Throughout his journey, Ryan Dossey realized the significance of aligning goals and skill sets with partners. While he had successful partnerships, he also experienced challenges when partners had different objectives or levels of commitment. He emphasizes the importance of bringing complementary skills to the table and ensuring that everyone shares a common vision.
The Transition to Full-Time Wholesaling
In 2016, Ryan Dossey decided to take the leap and go full-time in real estate wholesaling. Despite facing initial challenges and accumulating credit card debt, he persevered and took steps to improve his skills and mindset. By seeking help from a business coach and adopting a more confident and focused approach, he was able to increase his deal volume dramatically, closing a total of 74 deals in a year.
The Power of Mindset and Valuing Your Worth
A pivotal moment in Ryan Dossey's journey was when a friend confronted him about undervaluing himself and his work. This realization prompted him to shift his mindset and start valuing his time and expertise at a higher level. By doing so, he was able to negotiate better deals and increase his average profit per deal from $3,000 to $15,000.
The Ethics of Wholesaling and Marketing
Ryan Dossey has a strong stance on ethics in wholesaling and marketing. He believes in being transparent, honest, and adding value to others. He encourages newbies to learn the basics of real estate wholesaling before jumping into more advanced strategies. He also emphasizes the importance of ethical marketing practices, such as providing a high-quality user experience and focusing on revenue-generating activities.
Tips for Getting Started in Real Estate Wholesaling
For those looking to get started in wholesaling, Ryan Dossey offers some valuable advice. First, he recommends testing free resources and learning the basics before investing in paid services or programs. He also suggests having intentional blinders and focusing on one area of real estate wholesaling to gain traction and achieve results faster. Lastly, he emphasizes the importance of consistent marketing and revenue-generating activities to drive success in the wholesaling business.
The journey to financial freedom through real estate wholesaling is not easy, but with determination, hard work, and the right mindset, it is achievable. Ryan Dossey's story is a testament to the possibilities that can arise when you take a leap of faith and pursue your dreams. By following his advice and implementing his strategies, you too can escape the confines of traditional employment and unleash your income potential through the power of real estate wholesaling.
About Samantha Ankney
Samantha has been a media specialist for DealMachine for 1.5 years. She produces, edits, writes, and publishes all media that is distributed to the DealMachine and Real Estate Investing community.