From Union Worker to Wholesaling Success: Chris' Journey

Many people dream of breaking free from their regular 9-to-5 jobs to explore more lucrative and flexible career paths. Real estate investing, particularly wholesaling, often emerges as a beacon of opportunity in this pursuit.

In this detailed blog post, we delve into the remarkable journey of Chris Mignone, who transformed his career and financial destiny through real estate wholesaling, earning an impressive $35,000 from a single deal.

Chris Mignone's Foray into Real Estate

Chris Mignone's venture into real estate began during the tumultuous times of 2020. With a keen eye for opportunity and a drive to make significant changes in his life, Chris took the bold step of exploring the real estate market.

His strategy was simple yet effective: identify undervalued properties, connect them with potential investors, and earn a profit in the process.

Strategic Approach to Wholesaling

What set Chris apart was his strategic approach to property selection. He targeted non-owner-occupied properties and small multi-family units, using tools like PropStream to identify potential deals. This focus allowed him to pinpoint properties with high investment potential.

To reach these property owners, Chris utilized a cost-effective yet powerful tactic: hiring freelancers for cold calling and texting. By tapping into platforms like Fiverr or Upwork, he managed to assemble a team that could efficiently reach out to potential sellers, significantly increasing his chances of finding lucrative deals.

Balancing a Full-time Job with Real Estate Aspirations

Initially, Chris juggled his regular job with his real estate activities. This balancing act was challenging, as his full-time job as a union glazier in New York City was both time-consuming and physically demanding. However, his determination to achieve more flexibility and time for his young family kept him motivated.

The Breakthrough Deal

The turning point in Chris's career came with a duplex owned by an out-of-state landlord. Through effective negotiation and understanding of the market, Chris managed to secure an assignable contract for the property. He then successfully wholesaled this property off-market to an investor, netting a substantial $35,000 from this single transaction. This deal was not just financially rewarding but also a validation of his strategies and efforts.

Expanding the Wholesaling Business

Encouraged by his initial success, Chris reinvested his earnings into expanding his marketing efforts. He increased his team of cold callers and introduced text messaging as a key component of his lead generation process. Recognizing the need to cast a wider net, Chris adopted various marketing strategies, including Google ads and direct mail campaigns, to reach a broader audience.

Transitioning to Wholetailing

Not content with just wholesaling, Chris ventured into wholetailing. This strategy involves purchasing properties, making minor improvements, and then reselling them to a broader market. While wholetailing required more capital upfront, it opened the doors to higher profits and a larger pool of potential buyers.

Navigating Challenges and Learning Valuable Lessons

Chris's journey wasn't without its challenges. He shared a particularly sobering experience of a property flip that resulted in a $25,000 loss, a stark reminder of the risks involved in real estate. This experience was instrumental in his shift towards strategies like wholesaling and wholetailing, where the financial risks were lower.

Concluding Thoughts

Chris Mignone's story is a powerful example of how real estate wholesaling and wholetailing can serve as viable paths to financial independence. His journey underscores the importance of strategic planning, effective marketing, and the willingness to adapt and learn from experiences. For those looking to make a similar transition, Chris's path offers both inspiration and a practical roadmap to success in the world of real estate investing.