593: The Ethical Wholesaler: Putting People Before Property Profits w/Jamil Damji
The words “ethical” and “wholesaling” are rarely used in the same sentence. For the most part, many real estate investors and agents look at wholesalers as deceptive, hard to read, and for the most part just looking to make a quick buck. While this may be true for many new wholesalers, it's far from the truth for Jamil Damji. If anything, Jamil wants to put an end to inexperienced, and often financially dangerous wholesaling.
You could say Jamil was made to be a wholesaler. He had hustle, cold calling skills, and the will to succeed after being rejected from medical school simply due to his age. He set up a website-building business and got the hang of cold-calling quite quickly. After overhearing a discussion about a real estate deal between his partner and his partner’s father, Jamil decided to take his sales skills and turn them into something a bit more profitable. He made a phone call to a local property owner, secured a deal for his partner, and walked away with a $47,000 assignment fee.
Now, Jamil runs one of the most respected wholesaling companies in the United States. He’s set up an “everyone wins” style of wholesaling where sellers, buyers, and intermediaries in between all get paid fair prices while incentivizing each party to do what’s best for the other. This is a brand new concept in the field of wholesaling and one that Jamil wants to see flourish throughout the industry. If you want to learn how Jamil and his team do sixty to eighty deals a month, all while building a loyal customer base, this is the place to be.
In This Episode We Cover:
How wholesaling works and why so many new investors start with it
The best types of listings to call to find motivated sellers plus where to build your buyers list
Why illegalizing (or at least licensing) wholesaling would be favorable for the industry
How wholesalers can work with agents to build each other’s businesses faster
The biggest mistake wholesalers make when trying to assign contracts to buyers
Building a “win-win” system so everyone in the transaction becomes a repeat customer
And So Much More!
Links from the Show:
Coming Soon: BiggerPockets's On The Market Podcast
David Greene Real Estate Youtube Channel
Connect with Jamil:
Check the full show notes here: https://www.biggerpockets.com/blog/real-estate-593
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