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  • Episode #048 – How Jamel Gibbs Wholesales MLS Properties

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Jamel Gibbs Real Estate Investing Mastery PodcastIn this interview with Jamel Gibbs from PA, you will learn how he went from working at a Barber Shop, to working near the Twin Towers when they collapsed on 9/11, to being a very successful wholesaler today.  Jamel has a very inspiring story.  We also talked about the following:

  • How he makes tons of offers every week on the MLS
  • How he makes low offers, and THEN investigates the property only after his offer is accepted
  • What he looks for when scouring the MLS for deals
  • How to find comps
  • How to work with Realtors
  • A nifty little trick for negotiating sellers down from their initial asking price
  • Why when you are just getting started, you have to work very hard.  (It took him 13 months to make his first $1,500!)
  • The importance of always learning new things

Don't forget, if you have any questions for Jamel, put them in the comments section below.  If we get enough questions, we will get Jamel on again for another podcast.

You can go to these websites to get more information about Jamel Gibbs:

Listen To The Podcast Episode Here:

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  1. I connected with a realtor in my market (South florida) I’m trying to get lists of actives & Pendings to start marketing to. Picked this up from Joe’s Wholesaleimg Challenge currently going on. However, I get the sense that she’s reluctant to work with me. I’m thinking that she may be thinking that’s there isn’t any immediate money to be made; so why even put out the effort.

    We as investors are looking for motivation. How would you tackle a situation like that?

    I’m not licensed but understand the value of MLS access. I need someone to help me bid on HUDs & REOs.I just want a way to present what I’m trying to do and have the realtors sold on it.

  2. Great info!! Jamel, what do you say to Realtors when you want to put in an offer? Most Realtors don’t know anything about wholesaling or creative purchasing/financing. They often want to talk to their broker which turns into a no.

  3. Jamel,

    When you buy HUD, private or short sale, how do you typically purchase the property? Are you using your own money? Private money? Are you assigning your contract or buy then sell separately?

    Awesome information on the podcast!

  4. Thank you Jamel and Joe, great info as usual.
    The realtors that I have contacted have told me: I could not do investing, they have yelled at me and told me I would land in jail, and I was asked by the head of the REIA group, why would I help you, she was a realtor. It is hard finding a realtor to help investors. I looked for a contractor in Craigslist and only found plumbers, roofers, and electricians, no contractors, or are those what you are refering to?
    Thank you again, Mary

  5. Thanks Jamel,
    We have had some success making offers to the listing agents on the MLS
    in the Los Angeles area but it’s getting very hard now to do this
    because inventory is low and people are I guess paying more than
    We would or could pay as wholesalers. HUD is one idea I would like to start.
    And more direct mail. Buyers aren’t the problem it’s getting deals under contract,
    Do you have any suggestions?

    1. You ask… But when you do ask, look at it from their perspective. Why would they want to help you? What do you have to offer them? Whenever asking someone for help – especially in the REI biz – always ask them this question first, “How can I help you in your business? How can I help YOU make more money?” See the difference? Everyone wants something for nothing. Don’t be one of those people. 😉

    2. Maurio…Explain to the realtor that you are an investor. From time to time you get leads that don’t fit within your parameters. Ask if it would be okay to refer those listing leads to the realtor. Obviously, they will say ‘yes’ to more referrals. Then ask realtor what type of listings they prefer to steer away from, and what realtor you can refer those to. Then, ask realtor how they like to be referred; meaning what’s realtor’s skill-set and expertise, so that you can ‘up-sell’ the realtor…This creates the W.I.I.F.M. Syndrome (What’s In It For Me). Remember, give first, give often…Hope you find this helpful.

  6. Hi this Richard, and I'm a newbie to wholesaling in the (new York city)area. I have 3 buyers that will do business with me, however I am have trouble finding sellers for my buyers. The dynamics of wholesaling is in the stages of theory until I close my first deal. Some of the areas that that I have need clearer understanding is: the language in the assignment agreement contract, who puts up the earnest money, and how I get paid. What ever help I can get please contact me via email also along your contact information. Thanks Richard!

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