In this week’s episode of the Turning Profit podcast, we’ll be interviewing the brilliant Jamil Damji.
Jamil (also known as The Wholesale Genie) is an internationally renowned real estate investing and real estate wholesaling expert. He is one of the top (if not the top) wholesalers in the country.
With over two decades of experience under his belt, he is one of the few people who truly understand how real estate works and are willing to share the info with us.
This is our first interview ever, and we can’t wait for you to learn all of our guest’s secrets.
In this episode he shares everything with us, from the secret behind his amazing ads, to how he became the top wholesaler in the US, to how he started his real estate journey, and more.
Are you excited? Because we are!!
Tune in now to learn more.
What Is Real Estate Wholesale?
Jamil is a wholesale expert and one of the best wholesalers in the US. So, it only makes sense that this is the first question we would ask him: What is wholesale?
Well, according to the expert himself, wholesaling is trading in contracts. So, if you’re a beginner in real estate investing, you don’t have money, you don’t have a license, you can still get involved in real estate and generate capital through wholesaling.
Wholesaling is a great way to dip your foot in the water without buying properties left and right. It’s also a great way to start your real estate journey because, as Jamil says in this episode, “with some grit and some time and sweat equity, you can generate a lot of money.”
Wholesaling is essentially the art of selling potential. What wholesalers do is simple: They look for properties that have an opportunity to force appreciation.
Is Wholesaling the Right Choice for You?
Wholesalers provide a valuable service to end user investors. Why? Simply because whether they’re buying a property to fix and flip or to redevelop it, usually, these investors’ biggest issue is finding a deal. And wholesalers solve this problem for them.
Wholesalers are simply solution providers, and that’s what makes them so valuable.
Another reason why wholesaling might be the right choice for you is that, no matter what happens or the state of the market, wholesalers always make money.
There will always be real estate wholesale transactions, whether on the way up or on the way down.
This is actually one of the reasons why Jamil has stuck with wholesaling for so long. He and his team have been doing pretty well, even while the market was turning.
As he says in this episode, if you think this is a bad time to get into real estate, give your head a shake, and do it, because smart money moves into the market when the market is down. Don’t wait for it to come to you, create your own opportunities instead.
Real Estate Wholesale Is All About the Connections You Make
As Jamil says in this episode, wholesaling is one of those things that could work for anybody, because you don’t take risks in real estate wholesaling.
And if you don’t have a financial partner, if you’re not working directly with a buyer, and if you don’t have the financial capacity to actually perform on the contracts that you’re writing, take the extra step, and go network and find the partnerships that will turn your offers into the real deal.
One of the most important things in wholesaling, according to Jamil, is taking that extra step to find and create the relationships you need for this to work.
Always make sure to reach out to people and connect, and make sure that you have the financial capacity to perform on the promises that you’re making on the contracts.
Would You Make a Great Real Estate Wholesaler?
Although you might think some types of people might not succeed in real estate wholesaling, the truth is, wholesaling is for everyone.
If your personality type is risk averse, wholesaling is for you. And if you’re the kind of person who likes to get out there and take chances and you just want to hit the ground running, wholesaling is also for you.
Either way, we’re sure you’ll be enjoying yourself and making money while doing so.
We discuss all of this in more depth with Jamil in the episode above, so make sure to listen to it to learn more!