How to Wholesale a Property in 3 Hours Flat

Hey Gang,

Today was a good day because some great things happened:

I bought a property today at 4pm and sold it by 7pm.  That’s 3 hours!

So how did I sell this property in 3 hours flat?  It’s called ambition.  Just get out there and get it done!

Forget about the media and all of the negativity.  JUST DO IT!  Many investors think that it’s too
hard to make money flipping houses in today’s market, or there aren’t any real buyers.  The truth is you can make money in any market if you are educated.  If you know what to do you will be able to profit in anything you do.

Over the years I have spent thousands of dollars learning how to make money and guess what I’m still spending money to learn stuff.  Just last year alone I spent $15K on my education.  The problem is people are afraid to invest in themselves.  They would rather blow their money on things that are NOT going to make them more money.

Enough riff raff… This is what I did to buy and sell a House today (in 3 hours)

Monday- I sent out my street team to hand out 1000 flyers in 3 hours.  It cost me $40

Tuesday- 1 motivated seller called (it was the only call but I made the best of it).

Wednesday- I called the seller and bought the property site unseen.  This was at 4pm.  As I sent the seller the contract I  sent a message to my buyers list.  I received 10 calls and emails from my list of interested buyers.  I set up an appointment with one of them and that buyer made me an offer.  Keep in mind that I never saw the property until I showed it to my buyer.

I received a deposit from the buyer today as well as a signed contract.  By the time I got back to my home office the seller had faxed the signed contract back to me.  I bought the property with NO Money out of my pocket and I’m going to make $1500 on the deal.  That’s $500 an hour for 3 Hours worth of work.  If you think about it logically I didn’t even work that long.  If I add up the entire amount of time that I spent on this deal it would be around 45 minutes total.

I know the profit margin is small, but keep in mind that small deals add up too.  Don’t Be Greedy!  Alot of investors would have turned this deal down, but think about this; if you do 1 of these deals weekly that would give you an extra $6000 per month ($1500 x 4 = $6000) which is $72k yearly.  That is more than most people make in a year and you don’t even have to work nearly as hard.

So the moral of the story is to get out there and TAKE MASSIVE ACTION.  Apply yourself and anything is possible.  Believe that you can make it happen and it will, and remember that the small deals add up too!!

I will show you the check from this deal once it closes on Oct 2, 2009.  Please leave a comment below to let me know your thoughts.

Until next time!

Jamel Gibbs

Leave a Comment Below!!!

22 thoughts on “How to Wholesale a Property in 3 Hours Flat

  1. Way to go my friend! – I’ll hold off with my congratulations on the new little one, but a big High Five on the 3-hour flip!

    You should be extremely proud of yourself for walking the talk 🙂


  2. I have found a lot of deals and made some money. I recently came across 13 town homes that te hoa was under $125 a month rent are $650 to $750 nice area but all my buyers aren’t intrested in a town home for $17,000 each I was only marking them up $500 a piece what am I doing wrong when things are that cheap and you cant find buy and hold buyer. would you help me do this deal

  3. Wow a thousand flyers for $40 that’s 4 cents a flyer where did you find a person to do that for that cheap?

    And don’t say either lol.

  4. hi james congratulation to you and your wife.may god bless your family to be a stonger and prosperous one in all your endeavors.

  5. I’ll pray for a smooth delivery of your new addition.

    Thanks for the inspiration. I have a wholesale deal down here in Lancaster, and I believe it will sell.
    Would you consider partnering on an apartment building in Reading?

  6. It is so true, education cost but stupidity cost more. I believe in learning as much as possible, your goal should be to be the best, so invest in yourself. Very impressive $500 a hour and your wife dilating all at the same time. That is focus, diapers will not be a problem for a week. Ha Ha.
    I will soon be writing a post to say that I made $1000-2000 an hour for a similar transaction.


  7. Congrdulation on 2 account, your new amily member and your Fast-Flip! How did you compile your buyer list?

  8. I am really impressed! How do you get 1000 out with only $40 out of pocket? What kind of area was the home located in that you could be sure there were not any real “issues”. Or is this an “as is” purchase and sale. I’m still very, very impressed. And congratulations on, perhaps by now, another little lady for your family.

  9. Hi and congrats on your 2nd baby. my question to you is how do you built a buyers list. and how do you know if you have a good deal is there a formula you use. thanks for your time

  10. cherry pick..cherry pick..till the tree is gone, keep plucking, much success, congrats with the new addition !

  11. Opened my eyes, Thank you. I have been looking at deals and it it wasn’t over a certain amount,I dropped it. Guess I need to take off the blinders and go back and look at them.

  12. Jamel –

    Congrats to you and your family on the little one coming. I am new to this blog, but you are right, there is money out here to be made if you allow yourself to think “outside the box” For example, I knew a owner that had 3 units in his 60 unit apartment complex he couldn’t rent out. The agent he hired to help was being lazy. I asked him if I were able to fill the units would he pay me the same fee that was to be paid to the agent. ($1,500 per unit) After placing an ad on craigslist, I had all 3 units rented within 5 days. Although I wasnt an agent, the owner “COULD NOT WAIT” to pay me $4,500 for my 6 hours worth of “marketing” efforts. That equates to $750 per hour. Guess who he is going to call to fill any of the other 60 vacancies that he might have? Sorry for the long post but wanted to give an illustration to your readers that this stuff is real!! Everyone have a great holiday weekend!

  13. Great job and congrats to you on the new edition to your family – what a blessing! Thanks for inspiring us with your experiences. I’m trying my best to stay motivated and your blogs help me do that. I will make RE investing my career and hopefully I can post a blog on some of my deals. Thanks again for all you do!

  14. Jamel,
    Fantastic !! congrats on the new baby.
    I am in Australia and I want to use your experiences and do some deals.
    How did you get your buyers list?
    By adverts or letterdrop?.
    Can you email me copy of letter for sellers and/or buyers ?

    Thanks alot.

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