169: Your First Month Wholesaling - Can You Make $96k?

Lance made $96k in his first month wholesaling 4 real estate deals in 2016 and now he talks about why he still loves single family homes over multi family. Key Talking Points: 00:00: Introduction to the podcast and guest's success in wholesaling.00:20: Discussion on starting with a large volume of direct mail and host introductions.01:06: Introduction of Lance Wakefield and his entry into wholesaling.01:19: Lance discusses his initial strategy and details of his first four deals.01:48: Explanation of the deals and Lance's decision to wholesale.04:01: Transition from viewing wholesalers negatively to engaging in wholesaling.05:02: Evolution of Lance's business and approach to wholesaling, seller financing, and holding properties.06:25: Discussion on contracts used in wholesaling and benefits of tailored contracts.08:20: Benefits of custom contracts and built-in 15-day extension.10:31: Promotion for Deal Machine Unveiled event and the URL.12:20: Lance's current business operations and comparison between rentals and seller financing.14:02: Explanation of the difference between wholesaling and novation.16:49: Breakdown of overhead expenses and business structure.18:37: Strategy for focusing on bigger opportunities, including package deals and refinancing.20:21: Reasons for targeting smaller multifamily units and packages of single-family homes.22:10: Closing remarks and where to find Lance Wakefield on social media. Links and Resources Mentioned: Deal Machine Unveiled Event: dealmachine.com/unveiledInstagram: https://www.instagram.com/lancewakefield_/Facebook: https://www.facebook.com/lance.wakefield.9TikTok: https://www.tiktok.com/@lancewakefield_Podcast: https://podcasts.apple.com/us/podcast/pursuit-of-prosperity/id1498765055