How To Get Your First Wholesale Deal Interview! - Pro Wholesaler VIP Student: Chloe

Meet Chloe from Nevada. She's an amazing member of our Pro Wholesaler VIP Program and recently virtually wholesaled her first house in Indianapolis, Indiana!

Chloe & I had a fun time talking about how she was able to get her first wholesale deal & receive her first check of $3,000. Additionally, Chloe & I went deep into the mindset of being successful, not only as a real estate wholesaler but also as a real estate entrepreneur!

In this video interview, we discuss: 

• How Chloe was able to virtually wholesaled her first wholesale deal from implementing what she learned in the Pro Wholesaler VIP Program.
• How Chloe got the property $35k under the list price and then negotiated the price $15k lower.
• How she was able to wholesale this house even though it was on the market (MLS).
• The mindset needed to be successful at wholesaling & real estate.
• The power & paradigm shift that comes after completing your first wholesale deal.

 

 

--- How To Get Your First Wholesale Deal Interview Video Transcription ---

Alex (00:00):

Hey everyone. I'm here with Chloe. She's a member and student of the Pro Wholesaler VIP Program. Just an amazing member who wholesaled her first real deal. Love talking with her, love talking real estate with her. Just someone who gets it. Someone who didn't take no for an answer and wholesaled her first house, virtually wholesaled her first house in not her own state, few states over, and here today to talk with her, how she made that happen. How are you doing Chloe?

Chloe (00:28):

Absolutely. I'm good. How are you, Alex?

Alex (00:31):

Doing good. Doing good.

Chloe (00:33):

Awesome.

Alex (00:33):

Let's talk about this first deal because you wholesaled it, you made it happen. You're in Reno, Nevada, and you did it in another city called Indianapolis, Indiana which is pretty cool. Also, you're completely green. Were you completely green to real estate when you came in here or knew a little bit?

Chloe (00:55):

Yes. Other than seeing houses for sale on the street sometimes, I didn't really know much about real estate before this.

Alex (01:04):

Yeah. Awesome. So how did this first deal happen? I know you enrolled in the Pro Wholesaler VIP Program, you worked at it, you just closed this deal, I think like a week ago and just how'd you find it, how'd you go about it? Love to hear about that.

Chloe (01:23):

Yeah, absolutely. So I found this deal by looking on PropStream and Zillow and Redfin. Initially when I was looking in this market, I was looking at the new listings and listings that were just popping up. And I kind of felt like, okay, let me try a different approach and look at houses that have maybe been on the market for a while and that are just maybe a little bit overpriced for an investor, but they're under the value that a retail buyer would need to see. And this house really fit the bill for that. It had been on the market for I think over six months at the time that I connected to them. It's hard to argue with someone about the value of the house when it's just been sitting there for so long.

Chloe (02:18):

I spoke to the realtor. I made a case, Before I even hopped on this call, I made a case for what my number was going to need to be. And I looked at the comps in the area. I looked at what other fix and flips in that area had sold for initially, that were a similar size, similar bed bath count. And then I just got really confident before the call, gave her a call and just kind of brought her to the dark side. Just convinced her that my numbers were the numbers, and she was like, "Okay". She's like, "You're right". And it just so happened that she was the sister of the owner. So this was her family that she's kind of dealing with and she's like, "Well, I'll go talk to him and see what he says".

Chloe (03:15):

She definitely did a lot of negotiating with her family and finally got them to accept my offer. And then, even though this offer was actually $35k less than list, during the contingency period, I had to actually negotiate again, another $15k lower than that. So it was definitely a journey. It was definitely a process, and there was a moment halfway through where I thought, "Just throw the whole deal away because I don't know if they're going to go for $15k lower". But I kind of felt like I had to honor myself by at least asking, because I had put so much work in already at that point. And so I said, "You know what, I'm just going to ask her. We're were realizing that the repairs are going to be a little bit more than what we thought. Can we negotiate this price down?"

Chloe (04:14):

And at first, he's like, "Nope, not going to do it. No way." So I asked her, I said, "Look, is he willing to get on a call with me?" I just would not take no, because I wanted to honor myself as long as they were willing to entertain a conversation with me. I was going to continue to honor the work I'd put in and continue to remain confident that these are the numbers and this is a good opportunity for them. Their house has been sitting for six months. What if it sits for another six months? Just remembering like I'm bringing value to the table for all parties, and for these people included, for the sellers included.

Chloe (04:50):

And so she gets him on the phone with me. I'm his least favorite person at this point. And he ended up agreeing. He negotiated it down with me and we got down $15k lower, which is what allowed me to actually dispose this deal. And it was a really powerful lesson for me because as someone who I'm naturally a really agreeable person and I always want people to feel good around me and to be happy around me. So it was hard bringing conflict to the table and saying, "Hey, I actually don't agree with you here. I think that I have more value to offer you in this way."

Chloe (05:42):

And what I realized is that, very hands-on, I realized this and this situation that if you're going to offer value to someone, you're going to have to commit yourself to making peace with conflict. Because by definition, if you're offering value, there's a reason that that value wasn't there before you got there. And so you're going to have to acknowledge that. I might not appease this person's ego in the short term, but their deeper needs are going to be met in the longer term. And so sometimes, conflict is actually a really powerful vehicle for achieving goals on all sides.

Alex (06:28):

Totally. And great job on that. I think there's an awesome amount to unpack there. I mean, this is your first deal, by the way. You had to negotiate $15,000 down. You worked with the listing agent. You stood in your path, your truth of, "Hey, the reality is it's been on the market for six months". He probably didn't have any other offers on the table and it's just sitting there, right? His head is in the clouds. And one thing I like to say on our weekly Q&A Calls is in those situations, you can be like a knight or knightress in shining armor and saved the day for this person and that's-

Chloe (07:05):

Knightress. Love that.

Alex (07:06):

Knightress. There you go. And that's what you're able to do because that property very well could have stood for another six months. And maybe he could have got foreclosed on. Who knows what the situation was exactly? And then you had to get a reduction and then you're able to wholesale it. So you definitely went around the gambit on your first deal.

Chloe (07:28):

Yes, absolutely. Yeah. It was definitely a journey. One that I will not soon forget.

Alex (07:36):

Yeah. And what you said there's really interesting too, because I think with business partners, with people in real estate, you accepted this commitment to conflict of working with someone and not everyone's going to see eye to eye originally with you. Right? I've seen in business partners, agents, sellers, but you stood your ground. You knew your value, you knew your worth. And at the end of the day, they buckled, they came to you, right? You stood your ground, you didn't need to come up.

Alex (08:07):

So that's pretty awesome. I think when we're starting out, it's hard to know your value. It's hard to know your worth. It's hard to think about the value you're bringing into your cash buyers, that you honestly have a property under contract for them, and all they need to do is sign the dotted line for them to be able to purchase this property and fix and flip it. I mean, that's immense value for a fix and flipper.

Chloe (08:29):

Yeah.

Alex (08:30):

And so you're bringing a lot of value there. So how'd you find that cash buyer for the deal, do you mind me asking?

Chloe (08:38):

So that's a good question. So for this one, I actually, so I had my cash buyers list that I had created beforehand and I kind of had people that I had already spoken to and I understood their criteria and stuff like that. But then I thought to myself, "Okay, well, none of these people are biting". So I said, "Let me just post this thing on Craigslist". And so that's what I did. And I ended up actually connecting with quite a few buyers in general from that post, people that I was able to learn their criteria and stuff like that for future deals. But I also connected with the person who ended up being the cash buyer for this deal. And yeah, it was really cool. It was cool because it was like a warm buyer coming your way because they see something that they already want.

Chloe (09:34):

And so I noticed all the cash buyers that came to me from that post, they were all really willing to open up because they're like, "Oh yeah, this person is bringing value. Like, I can see that. It's not like I'm just some random person calling", even though I can build rapport with those folks as well. But I did notice that the dynamic was definitely a little bit different once I had posted that I had a deal under contract. So that kind of changed the dynamic. And I definitely think I'll be doing a lot more deals with those buyers for sure.

Alex (10:05):

Awesome.

Chloe (10:06):

Yeah.

Alex (10:07):

Awesome. And then how much were you able to make on this wholesale real estate deal?

Chloe (10:11):

I made $3k wholesale fee!

Alex (10:13):

There we go.

Chloe (10:14):

Yep. 3000 hamburgers I can buy now from McDonald's. You got to be specific. You can't go to Arby's and get their hamburgers. You got to go to McDonald's. But yeah, I can definitely get 3000.

Alex (10:27):

This ain't In-N-Out. Yeah.

Chloe (10:30):

Oh yeah. Heck yeah. In-N-Out. Absolutely.

Alex (10:34):

That's awesome to hear. Was being a member of the Pro Wholesaler VIP Program a help on closing this first wholesale deal?

Chloe (10:40):

Oh my, I mean, it was literally everything. It was so much. I mean, obviously, no matter how amazing that your program is, which it is really amazing and it literally gave me a systematic approach that I was able to use and that I was able to rely on intellectually where I wasn't able to rely on experience. Right? Which is super powerful. But no matter how amazing your program was, I still had to kind of dig deep within myself, because even if you get the best program in the world, you still have free will. You still have the choice to choose to clean your toilet obsessively or binge-watch Bridgerton on Netflix, which I've done multiple times at this point. You have that choice, right? And so you still have to dig deep and you still have to remind yourself every day, what are the most important goals to me today?

Chloe (11:42):

I kind of look at it as like a reverse engineering in a way of your life. And it's like thinking about your life from the end, which we're going to get really dark here, but I'm just going to tell you. Thinking about it from the perspective of what am I going to care about the most at the end of this? Like when it's all said and done, what were the goals that I'm going to wish I had worked on and making that a priority today. Not letting certain fears arrest you to the point that you are unwilling or unable to live in your truth and to live up to your potential, because ultimately that's really what it comes down to in life, right?

Chloe (12:22):

You've got to make those choices. So every day I sought to make those choices and it absolutely helps having the coaching and the mentorship because you guys have so much experience and you're able to reflect that back. Like, "Hey, you can do this". And so that absolutely helped as well. But at the end of the day, it was a lot of digging deep.

Alex (12:44):

Yeah. And I'm so happy you said that, because that's the truth. You can give everyone the tools, the resources, but just because you have that doesn't mean the person's going to do anything with it. They believe they can make it happen, and that's the whole other side to this game, to learning any skill set, to being successful in anything. And you definitely embodied that. And on our Q&A calls and in our community as well, our as Pro Wholesaler community, that post you did the other day just essentially saying, "We can be our own worst enemy. We can be a victim or we can be creators." Right? And you're definitely a creator. And that's the other side of real estate of wholesaling, where if we don't believe we can make it happen, we're starting significantly disadvantaged than everyone else.

Alex (13:33):

But if we believe we can make it happen, we've become aligned with our actions that we're taking, just like you believed "Hey, this purchase price that I'm sending in this house, it works. I'm going to make this deal happen." Then you made it happen. And so I just want to mention that because it's just the whole other side to it, right? It's a whole other side to it. That's something people skip over and you can't come in here thinking that it's not going to be reality. It's not going to work out for you. You have to have that faith in yourself and the faith in the process. And that's something that you have. So I commend you for that.

Chloe (14:10):

Thanks, Alex. Yeah. I mean, one thing I want to say, definitely to add to that is just I truly feel like that that underlying energy, whatever you're approaching your work with, is everything. If you feel defeated before you start working on this, and you're trying to get a deal to shore yourself up, it's not going to work because you're already looking at the course with a lens of being defeated. And so all you're going to be able to see are more reasons that you're defeated because that's how a system of thought works. It literally exists to perpetuate itself. So you've got to do the real work beforehand, right? Which is getting yourself into alignment with believing in something good about this process, believing that you can do it, believing that this works because you've seen other people do it. Shoring yourself up, listen to other people's stories who had a hard time, and then they made it.

Chloe (15:01):

Shore yourself up, remind yourself, "Hey, it hasn't happened yet, but it's possible. I can do this. I can look for solutions." Right? And then when you do that, you'll look at the course through totally different eyes. You'll actually be able to see the opportunities that exist. You're not going to look at everything and think, "Oh, see, I knew this wasn't going to work." You'll look at it. And you'll say, "Okay, I could see how this could work". And then that curiosity will lead you to a new breadcrumb, to a new breadcrumb, to a new breadcrumb, and then it just keeps unfolding. And then next thing you know, you're on a fun pro wholesaling journey.

Alex (15:36):

Yeah, absolutely. You definitely done that. So super proud of you, super proud of your work.

Chloe (15:44):

Thanks Alex.

Alex (15:44):

And I'm just happy we're able to touch on that side of things as well, because that's something that's not touched up on upon. And so Chloe, what's the future looking like for you right now? What are you working on? And where you're looking to go with this?

Chloe (15:58):

Five million McDonald's cheeseburger.

Alex (16:01):

Five million. All right. There we go.

Chloe (16:06):

But I mean, in all seriousness, if that was the currency, that would be the goal, if our currency was cheeseburgers. But yeah, definitely. I really think that just getting more consistent at in the short term, that's really what it looks like. It just looks like creating systems that are going to allow me to actually scale, allow me to look at the business from a higher level perspective versus being zoomed in in this way. So just finding ways to climb that ladder so that I'm able to continue growing in my skill set and growing in my leadership capacities and ultimately mentoring other people that I would bring into the business with me. So I think that's kind of my next goal.

Alex (16:56):

I love it. And that's a natural progression. And did you get this feeling after completing this first deal that if you can do one, you can do another? If you can do one a month, you can do two a month?

Chloe (17:07):

A hundred percent. Yeah. And I think once you actually complete that step, it becomes a part of your toolkit. Like before I completed that step, the only toolkit I had was "I believe I can offer a solution. I believe I can find a good comp. I believe..." Like I broke it down into doable steps until I accomplished a step that wasn't previously doable. Right? And then now that I've accomplished that, I can say, "Okay, I know what it takes to create a wholesale deal. Now I can create another one." It was a complete paradigm shift. I mean, I even walk around a little differently. My neighbor told me I have a little pep in my step now. So it's kind of nice.

Alex (17:49):

That's real. Yeah. That's real. That's awesome. I remember when I completed my first deal, and we talked offline about this, but that changed my life. It showed me what's possible. A lot of those little voices or negative beliefs that come in there and you shut them up and you just keep working towards your goals and you make it happen. And you see a lot of the times you can wholesale these houses without putting any money into them, a lot of the times. Turn $0 into something. It's a pretty cool experience.

Chloe (18:17):

Oh yeah. Powerful.

Alex (18:19):

And if you don't mind me sharing, I know we're talking offline, but you said you had another buyer who would, would have even paid a little bit more and so there's room to improve. Right? And I think that's really exciting. You can let that pull you. I was saying, "Hey, you could have made two, three times as much on this deal if we improved in this segment of the company".

Chloe (18:38):

Absolutely. And it was the marketing. I didn't start marketing it early enough, but had I, it would have been triple the wholesale assignment fee.

Alex (18:48):

There you go. Yeah. So you know there's room for improvement, which is awesome. And we're talking about continuous improvement, always improving, so.

Chloe (18:55):

Absolutely. Yeah. A hundred percent. And I definitely think it's hard to stay in one spot for too long, especially if you're someone who's just growing rapidly. It has to be about just continuing to expand. And then once you get up one step on the ladder, there's going to be someone who's below you a step. And then you can say, "Oh hey, this is what I did". Right? Then they can step up and then you can step up and then they can say, and it's just a really beautiful synergy that happens and you can teach, but you can also learn, teach but also learn. So that's kind of my goal, to create that for myself.

Alex (19:34):

Well, that's how we scale it. So looking forward to helping you do that, Chloe. You have a lot of golden nuggets. On our Q&A calls, we talk about golden nuggets. Any golden nuggets for anyone who's maybe thinking about doing this? Maybe they have some doubts. What would you say to someone who's on the fence about this?

Chloe (19:56):

Yeah. So I would say there's probably two kinds of people that are probably watching this. People that are on the fence, like "Should I actually jump in and try this?", and people that are already trying it and having a hard time. So I want to address both of those people.

Chloe (20:16):

So for the first type of person, if you're looking to jump in and you're looking to try it, what I'm going to challenge you to do, and I mean you, whoever's watching, is to really just understand the real risk that you're taking. The risk that you're taking is not trying something and failing. The risk that you're taking is not losing money, because you can't really actually fail at this if you have another shot. That means that the journey's not over. Failing implies that the journey is over. And if you can't get it done, you can't get it wrong. Failure really is just a moment in time that you've decided that you failed because you're not choosing to take it as a learning opportunity.

Chloe (21:04):

So the real risk is not failing. The real risk isn't losing money. You can always make money. The real risk is not taking a chance on getting to express your potential, getting to express yourself, getting to express a goal that that could catapult you farther along your path. That's the real risk. And don't take it from me. Look at every single deathbed regret as someone who did not take a risk and do something that they wanted to do. And at the very least, you're going to learn something. You're going to grow as a person. And that's not even the leads. Like that's a great thing to have happen, but at the most you're giving yourself a path of entrepreneurship that's scalable, that allows you to dictate your own time, that gives you a sense of autonomy that will allow you to connect to an incredible community of co-creators and people that are like-minded.

Chloe (22:08):

So the worst thing that could happen is that you grow. The best thing that could happen is that you grow a lot, right? So then for the people that have already been trying, and for the people that already have a storyline about how hard it is and how there's no inventory in the market and the buyers and oh my gosh. For those people. And I'm not even talking just to other people, because I had those experiences, those voices were in my head too.

Chloe (22:43):

But what determines whether or not you're going to create what you want is your ability to put those voices in perspective. Those voices actually love you. They're trying to protect you. They literally love you so much. They don't want you to feel any pain, but those voices have an incomplete picture of your reality. And they're talking to you from an incomplete picture. They don't know what you know. They don't know because they haven't lived it yet. They're talking to you based on the past. And the mind is so good at that. All has is memories, and so that's what it uses to determine where you're going to go. So that's why most people kind of create lives that are just more of the same.

Chloe (23:26):

You grow up in this hometown, you stay in this hometown and you have the same friends, same job. And it's just because those voices come in and they think, "Oh yeah, well, out there isn't safe because it's unknown". But the truth is, you don't know it yet. So how do you know if it's not the best thing that could've ever happened to you? You don't know. So you have to trust yourself. You have to trust your ability to evolve, your ability to grow.

Chloe (23:52):

That's the ultimate thing that I'm going to challenge you to do is just trust that. Look, I don't actually know what's going to happen, but I do know that I can evolve. As obstacles are thrown my way I can get stronger. I trust that I can do that. I've done that since I was born. I used to not be able to walk, believe it or not, when I was one years old. Wow. I do that all the time now. Right? That's a normal thing to me. Now. Imagine how challenging it was when I was one and my head was bigger than my whole body. That was hard. I didn't have my center of gravity, was just totally different.

Alex (24:29):

Totally. That was amazing, Chloe. You hit it right in the head. I mean, I couldn't have said it better then myself. I think all that's left for someone who wants to do this is they have to make a decision, a choice, what they want to do, who they want to be, and then go out and do it. And whether you think you can or can't you're right, right?

Chloe (24:59):

A hundred percent.

Alex (24:59):

So whatever you want to do, if you want to make it happen, if you want to become a wholesaler, a Pro Wholesaler, if you want to start your journey in real estate, then you absolutely can. If you don't, then that's fine. Whatever you choose just know that if you wanted to be in a program where we support you, where you can make it happen, where we are creators, then this is something that I'd highly recommend. And so Chloe, just thank you for being here. I mean, not much else to say on this deal. I mean, you made this deal happen, you made it seem easy. I know it wasn't easy.

Chloe (25:37):

Yeah. There were challenges, a hundred percent. And I want to be transparent about that, because it's always easier to talk about the successes, but the group wasn't there when I was sitting in my living room, like "What's going to happen?" Right? They didn't see any of that. And so it can be really tempting not to normalize their own struggles or their own discomfort around growing. But I'm here to tell you, if you're growing, it's uncomfortable, period.

Alex (26:08):

Totally.

Chloe (26:09):

That's normal. That's par for the course. But the key here is understanding that if the growing that you're doing is in alignment with you, then the type of stress that it is is more of a challenge. And you have to kind of approach it like that. You've got to normalize that challenge and you have to see it as like, "I can do this. I just have to figure out the keys to the locks." And like you said, Alex, whether you believe you can, or you can't, you're right. That's Henry Ford, right?

Alex (26:33):

Yep, exactly.

Chloe (26:34):

So to add to that, you can't see something that you're not on the same frequency as. Like, if I'm on 97.1 FM, I can't hear what's on 94.9. So if you want to win, you have to start believing that you can win. You have to start looking for evidence that you can win, not looking for evidence that this isn't going to work. Because it's what you look for that's going to shore up whatever belief you choose.

Alex (27:10):

Absolutely. You got to look for evidence you can win. I love that. I'm writing it down.

Chloe (27:15):

Heck yeah, we got to make t-shirts for that one.

Alex (27:18):

Yeah. Maybe a podcast.

Chloe (27:21):

I know the podcast, but the t-shirt could actually say "Evidence that you can win", because you're the evidence. Get it?

Alex (27:27):

There you go. Yeah. I love it.

Chloe (27:32):

We got to copyright this after this call so that no one on YouTube does it.

Alex (27:37):

Can't share this. Yeah. Can't share this one.

Chloe (27:38):

Yeah.

Alex (27:41):

Well, awesome, Chloe. I mean, you're just a stellar member in the program and you're well on your way. You radiate with energy and positivity with everyone in here and every time, whether you post it in our community or you're on the Q&A call, I mean, everyone feels it. And you just bring that great energy here. And I appreciate you sharing everything that you've shared today because I'm a believer in everything that you said. And I've when I started my journey in real estate, I had to go through all the same things that you're going. And so I completely connect with everything that you're saying. And once again, just appreciate you being here because everything you're saying is very helpful. It's hard for me sometimes to get back to day one of starting out as a wholesaler.

Chloe (28:24):

Yeah, completely agree.

Alex (28:26):

Yeah. Everything you've said, from the mindset, from looking for that evidence that you can win, that's what we need to do. Have that beginner's mindset, like we're talking about.

Chloe (28:39):

Yes, absolutely. Absolutely. Not approaching any day as though it's already done. Right? That's that beginner's mindset, like approaching it as a new, a totally blank slate. Because the second we start projecting onto the day, the day's over. You've already lived it.

Alex (29:01):

Absolutely. Yeah. So I'm happy to project your goal of five million hamburgers in the future. You made 3000 hamburgers on this deal, $3000. And I'm just excited for your growth. No doubt that you're going to get there, and I'm excited to help you and our whole entire Real Estate Skills Team is excited to help you in any way that we can.

Chloe (29:22):

That's so awesome. I appreciate it.

Alex (29:25):

Appreciate you. I look forward to continue growing with you, helping you out there, everything that you need. And I appreciate you hopping on this call today.

Chloe (29:31):

Absolutely, Alex. Thank you so much.

Alex (29:34):

Thank you, Chloe.