Joe Mccall – Wholesaling Lease Options – Main Course

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Joe Mccall – Wholesaling Lease Options – Main Course

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Let me first tell you a little bit about my background.  A few years ago, I was buying a lot of homes with traditional bank financing.  When the banks started telling me that I couldn’t buy anymore homes, I started buying homes “subject-to” the existing mortgage.  Pretty soon, I owned about 12 homes within 12 months.  (And I was selling all these homes on Lease Options.)

Yes, I owned 12 homes.  I thought I was a successful real estate investor!  But I was equity rich and cash poor. I had lots of equity.  (Actually, I thought I had lots of equity… but then the market crashed!  Can anyone relate?) When you are only making $100 – $200 per month cash flow on each house, that money quickly disappears in vacancies and repairs.  All of the sudden, I had a serious cash flow problem.

I realized that I needed to fix my cash flow problem – and fix it quick.  That’s when I started wholesaling houses.  So then I started spending thousands and thousands of dollars on marketing – direct mail, Google adwords, websites, signs, etc.  I was getting a lot of leads, and I was starting to make some good money!

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