Welcome to the Life and Times of Jamel Gibbs
I know, I know… it’s been a while since I’ve done The Life and Times of Jamel Gibbs, but I have good reasons!! 😉
Today I want talk about a few package deals that I’ve been working on for the past week or so. By the way… my wife is 3 months now and we we’re able to see the entire shape of the baby. It’s incredible what technology an do!
Anyway, I’m working on several package deals right now. Some of them with my coaching students and some of them by myself. On one of the packages that I’m doing by myself I received the package a few days ago. The package is a 26 property package in Michigan. I was able to pick up each property for $3000 each.
Yes $3000 each!!
Now, in real estate you don’t have to take the bank for everything on every deal. So I figured that since I picked the properties up a $3k each, why not sell them at $4,000 each. That would still give me a quick $26,000 wholesale assignment fee. So that’s exactly what I did. And guess what? Just a few days later (TODAY TO BE EXACT!!!) I’m signing the contract for the 26 property package and I’m going to make a hefty $26,000 on the deal.
All for a days worth of work!!! I’ll keep you posted as the deal progresses.
So the moral of the story is, just get out there and do deals. Don’t worry about making a killing on every deal. The vast majority of your deals will be small profit margin deals. But they add up! Once in a while you’ll hit the home run. Just like baseball…
Get a few base hits and then get a home run.
Leave a comment below to let me kno what’s on your mind.