Joe White

 I started off doing lease options.  I would buy properties, get them under contract and then rent them out.  Problems started arising however when my rental properties developed mechanical problems that I didn’t have the money to repair.  I also started having problems with tenants.  I knew there had to be a better way to make money in real estate than lease optioning to tenants.

I later became a mortgage broker for about ten years.  I ran a mortgage company while I was doing more real estate investing.  I would find properties; fix them up and try to sell them to hungry buyers, often times my own clients.  The problem was I had to deal with customers who didn’t qualify for loans, some of whom didn’t have down payments, or people who could qualify for loans or did have down payments, but were too picky.  On top of this I had to deal with contractors who would never show up on time, didn’t do the work he said they’d do and so on.  I would end up taking an extra month or two to get the renovations done, thus costing me time and money.

On top of that the business was starving me.  Between the rental properties and the rehab properties I had a million dollars in property, but I couldn’t put gas in my car.  I decided that was crazy. I decided to change my strategy. I decided to start wholesaling these properties.  In the beginning I was spending too much money
on rehabs.  Rather than waiting six months, enduring the headaches to get a person approved and the endless troubles and setbacks associated with the process, I changed strategies.  The wholesaling side of my business had far less headaches and less time involved and I didn’t have to risk my personal money or time.  I didn’t have to have my money tied up purchasing or repairing the house.  I was able to close these deals faster and make more profits because of the volume of deals I was doing.

I actually quit the mortgage business and began just doing wholesale deals. I wanted to develop system to find these deals and turn them into cash in as little time as possible with the least amount of headache.  That’s what my whole system is about: Making money in the quickest amount of time in the most efficient way with the least amount of headache.