If you've ever applied for a job and never heard back, you know how frustrating it can be. Our guest Aaron has a similar story. He moved from California to Charlotte, North Carolina, and applied for the same job he had in California, but nobody was hiring him. So he took matters into his own hands and started wholesaling real estate.
This strategy allowed him to earn money without using any of his own money by finding real estate deals and passing them off to investors. Aaron has been able to make up to $45,000 on a single deal, and he has already done 15 of these deals in 2023.
The Transition from Working with His Dad to Wholesaling Real Estate
In this blog, Aaron shares his journey from working on homes with his dad in 2015 to becoming a successful wholesaler. Aaron was born and raised in Sacramento, California, and his dad was an architect with many contractor friends. In his late teens, Aaron and his brothers started working with his dad's friends, learning the trade and gaining experience in the real estate industry. They even did a couple of flips on their own.
However, Aaron's career took a different turn when he pursued a music career and ended up in Los Angeles. There, he got his real estate license and joined Keller Williams, working with their development team. Eventually, he met his wife, who was originally from Charlotte, and they moved to Charlotte together.
Discovering Wholesaling as a Solution
After moving to Charlotte, Aaron had trouble finding a job in real estate. He applied for sales positions at national builders but was rejected by all of them. This rejection led him to explore other options like real estate investing and pursue wholesaling as a way to make money in real estate. Aaron saw wholesaling as an opportunity to take control of his financial future and provide for his family.
He stumbled upon Ryan Dossey's content, particularly his mention of DealMachine, a tool that helps wholesalers find properties and connect with potential buyers. Aaron decided to give it a try and began driving for dollars, searching for distressed properties that he could wholesale.
The First Wholesale Deal and Gaining Consistency
After several months of driving for dollars, Aaron finally secured his first wholesale deal at the end of 2019. It was a property owned by an out-of-state owner who wanted to get rid of it due to the tenant damaging the place. Aaron made $13,000 on that deal, and it served as proof that wholesaling was possible and profitable.
In 2020, Aaron, like much of the world, faced the challenge of the COVID-19 pandemic, but he didn't let it deter him. He doubled down on his driving for dollars efforts and started pulling lists to find even more potential deals.
Towards the end of 2020 and the beginning of 2021, Aaron gained the consistency he was looking for and had enough deals under contract to go part-time at his nine-to-five job. By March 2021, he was able to quit his job and focus on wholesaling full-time.
Exploring Other Deal Types
While wholesaling became Aaron's primary focus, he also ventured into other types of deals, such as minor wholesale and taking down properties himself. In minor wholesale deals, Aaron would close on the property, clean it out, and list it on the market for sale. This allowed him to tap into a different buyer pool and potentially make a larger spread compared to traditional wholesaling.
Additionally, Aaron explored the potential of land wholesaling, where he would find infill lots and sell them to builders or investors. Land wholesaling offered different opportunities and potential spreads, depending on the location and demand. Aaron's ability to adapt and explore different deal types has allowed him to maximize his opportunities in the real estate market.
Tips for Success
Throughout his journey, Aaron has learned valuable lessons and tips for success in wholesaling. He emphasizes the importance of consistency and persistence. Wholesaling can be discouraging at times, but it's those who stay consistent and continue taking action who ultimately succeed.
Aaron also highlights the importance of building relationships. By networking with real estate agents and investors, Aaron has been able to find buyers for his wholesale deals and unlock new opportunities. Building rapport and trust with these individuals has been a key factor in his success.
Lastly, Aaron advises wholesalers to set themselves apart from the competition. In a market saturated with wholesalers, it's crucial to find ways to differentiate yourself. Whether it's through personalized marketing, unique value propositions, or exceptional customer service, standing out from the crowd can make a significant difference in your success.
Conclusion
Aaron's journey from job rejections to becoming a successful wholesaler is a testament to the power of taking control of your own destiny. By leveraging his skills, knowledge, and resources, Aaron has been able to build a thriving wholesaling business and achieve financial freedom.
Wholesaling real estate offers a unique opportunity to earn money without using your own funds and provides the freedom to work on your terms. However, success in wholesaling requires consistency, persistence, and a willingness to explore different deal types. By following Aaron's example and implementing his tips for success, aspiring wholesalers can pave their own path to financial freedom.
If you want to learn more about Aaron's journey and gain further insights into the world of real estate wholesaling, be sure to follow him on Instagram @AaronJSwart.
