In this conversation, David Lecko interviews Phillip Placencia, a successful wholesaler. Phillip shares his experience of making $7,500 on his first wholesale deal and provides valuable insights into negotiating with sellers and addressing price gaps. He emphasizes the importance of building trust and providing value to sellers. Phillip also discusses his transition from corporate America to full-time real estate investing and the growth of his business. He highlights the benefits of starting with wholesaling and shares his future plans for a development company and a tiny home community. Takeaways • Wholesaling is a great way to start in real estate as it teaches sales and marketing skills, negotiation, and the legalities of real estate.• Building trust and providing value to sellers is crucial in negotiations.• Hiring the right team members is essential for scaling a wholesaling business.• Social media, especially platforms like Facebook, can be a powerful tool for building a brand and generating referrals.• Wholesaling can be a stepping stone to other real estate ventures, such as development projects. Chapters 00:00 Introduction and First Wholesale Deal01:34 Making Offers and Negotiating with Sellers04:17 Providing Value to Sellers06:15 Addressing a Large Gap in Offer Price08:12 Preventing Disappointment for Sellers10:28 Transitioning from Corporate America to Wholesaling12:57 Hiring and Building a Team15:26 Future Plans and Expansion20:40 Starting with Wholesaling23:18 Possibility of Meeting in Person David's Social: @dleckohttps://www.dealmachine.com/pod Ryan's Social: @heritage_home_investments https://www.heritagehomeinvestments.com/