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Watch Me Wholesale This House In Less Than 1 Hour!

Flipping Mastery TV・26 minutes read

Jerry Norton successfully wholesaled a house for $215,000 in less than an hour, emphasizing the importance of quick deals and strong relationships in real estate transactions. The video showcases Jerry's ability to close deals remotely without physically seeing the property, offering viewers real estate insights and the opportunity to make $100,000 annually through eightweekacademy.com.

Insights

  • The speaker, Jerry Norton, showcases remote wholesaling of a distressed property in Boise, Idaho, securing a deal for $215,000 within an hour, highlighting the potential for quick profits in real estate transactions.
  • Despite typically securing contracts without physically seeing properties first, the narrator emphasizes the necessity of quick sales without contingencies, showcasing the importance of building strong relationships and trust in real estate deals to ensure efficient negotiations and successful transactions.

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Recent questions

  • How can I wholesale a house remotely?

    By analyzing distressed properties, making offers, and negotiating.

  • Who is Jerry Norton?

    A successful house flipper turned millionaire real estate mentor.

  • What is the "Watch Me Wholesale Show" series about?

    Showcasing the speaker wholesaling distressed properties in various markets.

  • How can I make $100,000 annually in real estate?

    By leveraging real estate training and implementing successful strategies.

  • What are the key factors in negotiating real estate deals?

    Understanding market comps, seller needs, and property potential.

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Summary

00:00

"Quick $210k Deal: Remote House Wholesaling"

  • The speaker is interested in closing a deal quickly and ideally at around $210, despite being able to close in a week.
  • The video will showcase the speaker wholesaling a house remotely without physically seeing the property, completing the deal in less than an hour.
  • Viewers are encouraged to visit eightweekacademy.com for a free copy of Jerry Norton's real estate training, promising insights on making $100,000 annually.
  • Jerry Norton, a successful house flipper turned millionaire, aims to help others master real estate wholesaling and flipping through his channel.
  • The "Watch Me Wholesale Show" series involves randomly selecting a market, analyzing a distressed property, making an offer, with episode 14 focusing on Boise, Idaho.
  • A vacant, distressed property listed for $250,000 on Zillow was successfully wholesaled by the speaker for $215,000 after a conversation with the seller.
  • The seller, Kevin, discussed the property's condition, mentioning original features, a roof needing minor repairs, and potential upgrades like gas heating.
  • Kevin clarified that the property did not require probate, with his sister acting as the seller's attorney, and no existing mortgage on the property.
  • The speaker negotiated with Kevin, highlighting market comps and suggesting a $225,000 offer, aligning with other flipper offers and market trends.
  • The speaker emphasized the property's potential for profit post-rehab, contrasting strategies of high-end renovations versus meeting FHA inspection standards for a quick sale.

13:46

"Quick Sale Nets $5,000 Profit"

  • Kevin had a property under contract for $225,000 with a local flipper, but the deal fell through due to the flipper's inability to close quickly.
  • The seller, Kevin, was not willing to wait 30-60 days for $225,000, prompting the narrator to offer $215,000 with a two-week closing.
  • Kevin was open to the $215,000 offer but wanted to ensure there were no contingencies and a quick closing, possibly within a week to 10 days.
  • The narrator typically secures contracts without seeing properties first, but Kevin wanted a quick sale without contingencies, necessitating a fast turnaround.
  • A general contractor assessed the property, highlighting issues with the furnace, windows, and roof, suggesting a middle ground price of $300,000.
  • The narrator negotiated with Kevin, offering $220,000 for a quick sale, with the contractor potentially buying the property directly at $215,000.
  • The contractor needed to confirm funding with his private lender for the $220,000 offer, aiming for a quick turnaround to secure the deal.
  • The narrator emphasized the importance of strong relationships in real estate deals, showcasing how familiarity and trust can lead to successful transactions.
  • The narrator concluded the deal with Kevin in less than an hour, securing a $5,000 payday for finding and negotiating the deal efficiently.
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