Driving for Dollars: The Key to Wholesale Success for Marc Mason
Are you feeling unconfident in your search for your very first wholesale deal? Don't worry, because Marc Mason's story is here to inspire and motivate you. Marc, a former plumber, made an astonishing $85,000 on his very first wholesale assignment fee. His journey started when he noticed the people he was working for doing renovation work, which sparked his interest in real estate investing.
Marc attended a seminar and was introduced to the concept of driving for dollars, which he believes is the best way to find discounted properties owned by sellers facing problems that you can help solve. By unloading these properties quickly and conveniently, you can receive a discount and make a profit by passing it off to another investor. Marc's success story is a testament to the power of driving for dollars in real estate investing.
Meet Marc Mason: Serial Entrepreneur
Marc Mason is a serial entrepreneur with a passion for building businesses and teams. He currently runs an HVAC business and a real estate development business specializing in fix and flips. In the past two years, he has focused on larger development projects and recently acquired a 30-acre parcel of land through driving for dollars, which he plans to develop into 32 duplexes. Marc's background as a plumber and experience in managing large HVAC and plumbing projects has honed his skills in organization, resourcefulness, and multitasking, which are vital in the real estate development process. He believes that his success in real estate is a result of his ability to turn properties around quickly and efficiently.
Marc's journey into real estate began when he opened his own plumbing company while working in the field. He observed the flaws in the rehab process and realized he could do it better. Motivated by this, he attended a Fortune Builders class and made his first BRRRR (buy, rehab, rent, refinance, repeat) deal in 2014. Shortly after, he ventured into wholesale deals and made a staggering $85,000 profit on his first deal.
The Power of Confidence
Marc's first wholesale deal was a game-changer for him. It gave him not just a financial boost, but also a massive confidence boost. He believes that the most important thing for aspiring real estate investors is to overcome the barrier of getting that first deal done. Whether it's breaking even or making a small profit, the primary goal should be to gain confidence and learn from the experience.
Marc emphasizes that it's not about the money; it's about the confidence and the belief that you can succeed in this industry. In his case, the $85,000 profit was just the beginning. He rolled the money into another property and continued his success story. Marc's advice to newcomers is to focus on building confidence and overcoming that initial hurdle.
Finding Wholesale Deals through Driving for Dollars
When it comes to finding wholesale deals, Marc believes that driving for dollars is the most effective method. He asserts that driving for dollars allows investors to discover hidden gems that may not be available through traditional lists. By physically driving through neighborhoods and spotting distressed properties, investors can make direct contact with the owners and negotiate deals. Marc recommends making personal connections with property owners by engaging in conversation and showing genuine interest in their properties.
Building rapport and trust can lead to better deals and long-term partnerships. Marc shares a story of how he found a distressed property using DealMachine and established a relationship with the elderly owner, which ultimately resulted in a successful wholesale deal. He highlights the importance of being genuine and building relationships when driving for dollars.
Partnering for Success
Marc's success in real estate is a result of his ability to partner with the right people. He acknowledges that time is a valuable resource, and partnering with individuals who can dedicate more time to managing rehabs has been crucial to his success. Marc encourages aspiring investors to consider partnering with others who have complementary skills and resources.
Whether it's finding a partner with time to manage rehabs or someone with the necessary funds to invest, he believes that collaboration can lead to mutually beneficial outcomes. Marc even offers to help other investors in the DealMachine community or anyone who needs guidance in their real estate journey. He believes that helping others succeed ultimately benefits everyone involved.
Social Media and Off-Market Sales
Marc leverages the power of social media to market his real estate projects. By showcasing his properties on platforms like Instagram, he generates interest and attracts potential buyers. He posts pictures and videos of the properties, highlighting their features and offering financing options to potential buyers.
Marc emphasizes the importance of branding and reputation in the real estate industry. By establishing a strong online presence and presenting attractive properties, he has been able to sell properties off-market before they are even completed. This strategy not only helps sell properties faster but also reduces financing costs and allows Marc to reinvest his profits into new deals.
Overcoming Childhood Adversity
In addition to his entrepreneurial pursuits, Marc is currently writing a book about overcoming childhood adversity to break through to entrepreneurship. Marc's past has not always been easy, and he believes that his experiences have shaped him into the successful entrepreneur he is today.
He hopes that by sharing his story, he can inspire and motivate others who have faced similar challenges. The book will target young adults and individuals going through middle school and high school, providing them with guidance on how to overcome obstacles and pursue entrepreneurship.
Marc Mason's journey from being a plumber to a successful entrepreneur in the real estate industry is a remarkable story of perseverance, determination, and the power of driving for dollars. His first wholesale deal, which earned him $85,000, not only boosted his financial situation but also gave him the confidence to continue pursuing his dreams. Marc's focus on building strong relationships, leveraging social media, and partnering with the right people has been key to his success.
As he embarks on new development projects and ventures into writing a book, Marc's story continues to inspire and motivate others to overcome adversity and achieve their goals.
About Benjy Nichols
Benjy has been a media specialist at DealMachine for the last 2.5 years. He produces, writes, shoots, and edits our media content for our member's DealMachine and Real Estate education.