Deals Gone Bad #4 - What Do You Do When a Deal You're Trying to Wholesale Goes Bad? Chris Arnold Episode 932
If you haven\u2019t yet had a deal go bad, I can promise you that it\u2019s coming. You\u2019re going to have a deal that\u2019s ready to close, but the title isn\u2019t clear, or you\u2019re going to have a house fire that turns everything on its head. Chris Arnold is one of our coaching students, and after just five months, he\u2019s already got some epic stories.
Chris had lined up a solid deal with an absentee landlord when a tenant\u2019s barbecue grill caused a disaster that sent everyone scrambling. Suddenly Chris had to figure out if the house was salvageable, while he was fighting off the wholesalers who specialize in fire.
The magical phrase that Chris uses for buyers and sellers to keep the deal flow going is \u201cWhat\u2019s it going to take?\u201d. Listen to how he uses the relationship he\u2019s built with the seller to help everyone walk away feeling like they won.
If you\u2019re a wholesaler who\u2019s making a lot of offers, then you\u2019re guaranteed to see some bad deals. Don\u2019t sell yourself short by offering too low and watching your profit get whittled away as unexpected expenses crop up. Chris suggests you double check your numbers after the seller accepts, but before you sign the contract. But no matter what, you have to keep your word to the seller, even if you only make a thousand dollars. Your reputation as a wholesaler is on the line.
I love Chris\u2019s enthusiasm for real estate and his go get \u2018em attitude. If you\u2019d like to work with Chris, you can contact him at cashoffers@cj.properties. Get today\u2019s episode, and all of the notes and resources from my other Deals Gone Bad episodes by texting the word \u201cBAD to 313131.
What's Inside:
\u2014How Chris keeps his marketing momentum going.
\u2014A few ways you can use other wholesalers to find deals and leads.
\u2014What to do when a property catches on fire.