How I Made More Money Than A Wholesaler With No Work

Рет қаралды 546

Күн бұрын

I thought this day might come eventually...
I ended up making double what the wholesaler made on this deal. Definitely not normal, or expected, but worth looking at to show you guys a breakdown.
For this deal I was lending for the buyer, which comes with more inherent risk. At the end of the day this often comes down to trust over any legal documents, which is why I never recommend it for people starting out. However, if you can truly accept losing money and the juice is worth the squeeze, it might just all be worth it.
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Пікірлер: 13

@freddyrivas_23 2 ай бұрын

Great job!!

@Itsmikepowell 2 ай бұрын

Awesome! Did Gage personally guarantee the EMD since it was end buyer? What’s his plan to pay off the PML after 12 months?

@schrope_321 2 ай бұрын

Yes to the guarantee. Why would the PML need to be paid off in 12 months? They’re not going anywhere

@johnjacobs6862 2 ай бұрын

How do you get the leads?

@schrope_321 2 ай бұрын

That’s a loaded question. For this deal, relationships

@Daniel-lg5dj 2 ай бұрын

Why would anyone borrow at a 40% monthly interest rate? That makes zero sense, there’s no way his “business” is generating returns of over 40% per month. People buying houses with no money like this means a huge correction is coming.

@takG6 2 ай бұрын

It’s not a 40% monthly interest rate. It’s a 40% ROI. $5000 EMD for $2000 return.

@Daniel-lg5dj 2 ай бұрын

@@takG6 from the borrowers point of view it is quite literally 40% over the course of a singular month

@15rubgy 2 ай бұрын

@@Daniel-lg5dj His PML covers the replacement of the lent earnest money. Ryan's instant ROI is 40% in a month, you're correct, but that equates to paying $20 per month back to Gage's PML. The PML covers the 25K plus the replacement/return of the earnest money, which Gage is paying back at $250 per month.

@freddyrivas_23 2 ай бұрын

I’m not sure how the borrower would think that. I’m a borrower and I would not think that. Deals get done as quickly as a few days and up to 45 days. As an Investor my money is tied up a lot. Paying someone to get a deal done and still use no money out of my pocket is an Amazing win…That’s why I as an investor use a PML all the time. Better money than a bank.

@schrope_321 2 ай бұрын

He runs a software business and each client is a few thousand in recurring revenue. If you don’t think a “business” can generate more than $2k in a month I would start there :)