Beginner Real Estate Wholesaling Success: How Joe Closed His First $11K Deal (Through Setbacks)

The Property: A Tough Seller and a Distressed House

Joe Wilson's journey began with a truly distressed property and a notoriously tough seller. This was Joe’s very first property walk, and it came with a steep learning curve. The seller initially demanded $200,000 for a property that needed significant repairs. Comps in the area came in around $260,000–$270,000, but the needed repairs meant the deal would only make sense closer to $140,000–144,000.

Joe and his coach Ryan approached the negotiation methodically. They began at $100,000 and worked upward, while the seller gradually lowered his price. Ryan provided real-time coaching behind the scenes during calls, advising Joe on when to speak, when to pause, and how to navigate pushback. Eventually, after several days of radio silence and follow-ups, the seller agreed to $141,000.

Pro Tip: Difficult sellers are common in wholesale real estate. Stay calm, follow up persistently, and know your numbers.

Quick Buyer Interest and an Early Offer

Once the contract was signed, Joe quickly marketed the deal through social media and his email list. Interest was immediate. Several investors walked the property the next day. Within a week, Joe accepted an offer at $150,000, anticipating an $8,000+ assignment fee.

At this point, everything seemed to be falling into place. But real estate deals are rarely that simple.

How to Handle Buyer Fallouts in Real Estate Wholesaling

After the buyer signed and placed earnest money, communication dropped off. Weeks passed before Joe finally heard back; the buyer had issues with his lender. Interest rates had changed, and he no longer had the funding.

Joe and Ryan opted to request a mutual cancellation. The buyer agreed, officially ending the contract. With two weeks left on the original seller agreement, Joe knew he had to move fast to salvage the deal.

Emotional Reality: Joe described the experience as a "roller coaster of emotions," but credited coaching and mindset with keeping him grounded.

Re-Engaging the Market and Reality Check

Joe revisited previous buyers who had initially offered around $140,000. One buyer who originally offered $145,000 returned with a lower offer of $139,000 after re-inspecting the property. This confirmed that the market wouldn’t support the current contract price of $141,000.

With no time to waste, Joe and Ryan reviewed renegotiation strategies. Joe decided to "go for no"—a tactic where you propose a bold ask, expecting pushback.

Renegotiating a Wholesale Deal: How Joe Saved the Contract

Joe called the seller and offered $100,000, citing updated market feedback. The seller didn’t accept immediately. He said he’d consult with his children. Joe followed up diligently.

Eventually, the seller countered at $110,000. Joe agreed and promptly had the price and closing date amended and submitted to the title company. With this new purchase price, the deal was back on the table.

Negotiation Insight: Linking price drops to real buyer feedback helps sellers see the logic and keeps trust intact.

More Buyer Hiccups and a Creative Solution

Joe secured a new buyer. Then, that buyer backed out. With time again running low, Joe called every previous lead and interested party. One buyer partnered with a local investor, forming a joint venture. The duo agreed to buy at $120,000.

Lender requirements created additional hurdles. Joe worked with the title company and buyers to revise contract verbiage and satisfy the lender’s demands.

The final numbers:

• Purchase price: $110,000
• Assignment price: $120,000
• Earnest money from first buyer: $1,000
• Total profit: $11,000

What Joe Learned From His First Real Estate Deal

Want to hear the full story in Joe’s own words? Watch the video below to follow his entire journey—from his first property walk to earning $11,000 on his very first wholesale deal.

Joe encountered nearly every common obstacle on his first deal:

• Stubborn seller
• Price misalignment
• Buyer fallouts
• Lender complications
• Renegotiation under a deadline

He didn’t quit. He followed up, leaned on coaching, and adjusted strategies in real time.

Tools That Helped Joe Close the Deal

Joe credits these tools and systems:

• Driving for Dollars: Helped him find distressed homes
• DealMachine: Used for comps and property data
• Skip Tracing: Accurately reached property owners
• Cold Calling: Built relationships with sellers
• Title Company: Navigated contract changes and closings

Why Coaching Made the Difference

Ryan’s coaching gave Joe a roadmap and accountability:

• Real-time call feedback
• Negotiation scripts and strategy
• Mindset reinforcement
• Exposure to real seller appointments

Joe said Ryan's coaching allowed him to act confidently, ask better questions, and avoid rookie mistakes.

Joe’s Mission Work and Real Estate Goals

Joe and his wife work full-time in missions, helping send and train missionaries across the globe. They fundraise their income and use real estate to supplement financial stability.

They aim to complete 10 wholesale deals this year, eventually growing into rental properties. As of now, Joe has closed one deal and attended four appointments, a solid start that follows a common industry ratio.

Actionable Tips for New Wholesalers

• Follow Up Relentlessly: Silence is common. Keep calling.
• Expect Setbacks: Renegotiations and fallouts are part of the process.
• Use Data, Not Emotion: Ground offers in solid comps and repair estimates.
• Verify Buyer Funding Early: Ask direct questions and confirm.
• Amend Contracts Promptly: Paperwork keeps deals alive.
• Be Teachable: Apply what you're learning.
• Do the Work: Driving and cold calling create real opportunities.
• Keep Ethics Front and Center: Be honest with sellers and buyers.

Negotiation Lessons That Moved the Needle

Joe used these successful tactics:

• Started low, moved slowly
• Allowed silence during calls
• Used buyer feedback as leverage
• Built rapport before renegotiating
• Pitched a bold ask ($100K) and accepted a counter ($110K)

Handling Buyer Management

Joe learned:

• Always qualify and re-qualify buyers
• Use mutual release forms when deals fall apart
• Stay calm with changing lender demands
• Encourage partnerships to bridge funding gaps

Mindset: Why Joe Didn’t Quit

Joe didn’t see failure as final. He viewed every hurdle as a learning moment. He stayed steady, coachable, and action-oriented.

Ryan called Joe “one of the easiest students” he’s worked with, crediting Joe’s willingness to follow directions and implement feedback without hesitation.

Timeline Recap

1. Walked a distressed property. Seller wanted $200,000
2. Negotiated down to $141,000
3. Secured buyer at $150,000 → buyer backed out
4. Renegotiated with seller to $110,000
5. Second buyer backed out
6. Final buyer partnership closed at $120,000
7. Joe earned $10K assignment + $1K earnest money = $11,000

What This Wholesale Deal Teaches Beginner Investors

Joe faced nearly every roadblock on his first try, yet succeeded. His experience highlights:

• The importance of following up
• How to use coaching and data to guide decisions
• Why renegotiation is often necessary
• That mindset and grit matter more than a perfect plan

Final Thoughts and Guidance

Joe proved that anyone can close a wholesale deal if they:

• Stay consistent
• Remain teachable
• Keep working the phones
• Ask for help

Coaching speeds up success. But you must take action. Joe did, and walked away with $11K and a roadmap for future deals.

Frequently Asked Questions (FAQs)

Q1: How much can you make on your first wholesale deal?

Beginners often earn between $5,000 and $15,000. Joe made $11,000 by overcoming buyer fallouts and renegotiating effectively.

Q2: What happens if your buyer backs out of a wholesale deal?

You can cancel via a mutual release, relist the contract, and revisit previous buyer leads.

Q3: Can you wholesale without a license?

Yes, in many states. You're assigning contract rights, not selling property directly. Always check your local laws.

Q4: How do you renegotiate a wholesale contract with a seller?

Use actual buyer feedback and updated comps. Be direct, honest, and prepared for a counteroffer.

Q5: What tools help beginner wholesalers succeed?

Driving for dollars apps, skip tracing tools, cold calling platforms, and title company relationships are key.

Q6: What’s a good assignment fee for a beginner wholesaler?

Most beginner wholesalers aim for $5K–$15K per deal. Joe earned $11K on his first contract by negotiating well and managing setbacks.

Q7: Is real estate wholesaling still profitable in 2025?

Yes. While markets fluctuate, wholesaling remains a viable entry point into real estate, especially when paired with good coaching and local knowledge.