Can you make $100K a year doing assignments?

I hear people do it all the time. I've wholesaled quite a few houses but can't figure out how to keep it constant. It just seems like I'm missing something and don't know what it is????

$100k per year = $8,333.33 per month = $2,083.33 per week = $297.61 per day = $12.90 per hour x 24hrs.

So now its broken down and now you know how much you need to make to hit that $100k mark.

The question is can it be done, can it be done better than $100k per year and what am I missing thats stopping me???

Hope someone on here that actually does it can shed some light.

Jason

If you have to ask, you've answered your own question, and this biz is not for you

You can make $100,000 a year in anything you set your mind to.

...is so not helpful

I'm sure Carol Stinson has a better answer for you, Pan

Elixbrown must of had no questions like this when he started, and was a superstar right off the bat whom new everything.

Nice to know he is so helpfull.

People have questions all the time when starting something new. This site was designed for those questions to be anwered by those whom have the experience and are willing to help.

Some people don't know what is possible and want to know if certain things can be done or accomplished. Reassurance is always great.

Remember to listen to people that have reached where you want to be or that have reached that certain income level. Otherwise its like asking a mechanic to bake you a cake. He has no idea he's a mechanic. Be a copycat and remember to copy the right cat!!

I know making $100k per year or greater is possible and people do it all the time. Although I am not there yet, I know I will be and am taking all the right steps needed to get there.

Jason

I am one of those people that will make more than the dollar number in question. I worked 12 to 14 hours a day 7 days a weeks for 6 months before I got my first deal. I learned the real estate wholesaling business by taking action, I did not have time to even get close to this website for 9 months. You are not going to become a successful investor by trying to learn how to do this by asking questions on this website or taking courses or going to meetings unless you get in the trenches!! The first thing you need to do is to learn what a REAL deal is. (All of what I am saying is about wholesaling, no other strategy) Get real comps before you make an offer, sold, for sale and under contract. Get accurate re hab costs. Wholesalers usually don't buy houses in good condition. Now lock up that property at 65% of actual ARV after repairs and advertise it. It will sell.
I am one of those people that believes finding a TRUE wholesale deal if far more difficult than finding a buyer for that deal. Why have 500 buyers and no deal? You must and you will build a buyers list when you can produce wholesale deals.

Now for some tough questions and statements.
1. Do you think it will be easy to earn $100,000
2. What other way to do so are you planning on trying?
3. Elix makes a tough to hear but true statement above.
4. Time to look in the mirror. You are wasting time and avoiding by not spending every minute you have taking ACTION. Get over the fear!
5. This business may not be for you if you would rather play around, after all you joined 3/20/2009. If I were you the next post I make would be. WE have the closing date for our first wholesale deal. Here are the numbers and here is how we did it!
6. Then YOU can start helping people on this site.

I have to tell you I worked VERY hard learning about this business and building my team, executing my marketing plans and networking.

I use bandit signs, phone calls, door knocking, networking, work pre foreclosures with and with out equity, expired listings, FSBO, Vacant houses, REOs, call for rent signs, mailers, fliers and now going to move into probates.

I have 2 people that work the phones, 3 couples that door knock and 10 vacant property finders, 3 realtors and a lot of buyers! I started out all by myself and I worked my tail off.

Maybe there are people out there that have done the same thing sitting at there computer and stroking a couple of keys and BAM instant virtual wholesaling! I KNOW which of the two stories is more that LIKELY to produce over $100,000 a year.

Go out and make some offers!! If you need help PM me!
Michael Mangham
MD Home Acquisitions LLC

would be that if you CAN'T make $100,000 doing this then something is wrong. Yes, I know what date I signed up and I've already talked about that in my journal so no need to rehash it here again.
HOWEVER, that being said - MOST people (if not all) do go through periods of allowing the roadbloacks to detour them if not completely stop them on this or any journey.
The MAIN THING is....what do you do then? Do you GIVE UP or do you GET UP and go at it again.
I'm like the one that replied above by breaking it down to even how much an hour you need to do so....BUT, to me, this is a bit different in that you can make up a WHOLE LOT OF GROUND in a short amount of time WITH THE RIGHT DEAL.
It's o.k. if anyone wants to blast my thoughts by asking how many deals I have or have not done - my skin is a bit thick on stuff like that.
But honestly, the question was...."what do you think" if I'm not mistaken.
We all have different ideas and thoughts - and yes, OPINIONS - on the matter.
And, these would belong to me.
Regardless --- go for it!

Mike

You don't want to be on the phone or driving around canvassing for properties???

Exactly what type of help can you expect when one says they don't want to do things that are basically essential to their RE success just because they're not sure if they're going to be successful, how do you honestly expect one to reply???

Like someone mentioned you can conceivably make as much as you want if you put in the right time and anyone on here who knows me will tell you I can talk anyone to death about RE, but I do not stroke ego's and coddle people.

We're all adults here, there is nothing to be afraid of or no reason to believe you can't do it, but you alone have to believe that first.

And you might be right, Carol might have given you a better answer that you might like, but I give the truth. And the truth is, when you say you don't want to do this and that just because you're not sure, then expect such reply.

It's all good in the end. I am always available to help if need be.

I agree with you with the statement of: You don't want to be on the phone or driving around canvassing for properties???

Your right you need to be out there working it constantly until it happens. I think people do get frustrated when they are out there actually working the business and are not getting the desired results.

Just hearing from actual people that have made that type of income gets one excited again and does give them that reassurance. I think thats what that gentleman whom started the thread was looking for.

For some reason so many people buy the books, courses, attend the classes, get coaching but do nothing. I don't get it? They think since they got the knowledge that the money is just gonna fall from the sky without doing a thing.

I come across this many times over from different people I talk to. I just tell them to take action. Its a numbers game with finding the right deals.

I do respect that you speak the truth in your comments as do I. Maybe thats why I butted heads with ya for a minute. No big deal and no offense what so ever.

Thanks for being real.

Jason

Everyone has to start some were. You can make as much as you want and have time to work for. Carol Stinson earns a lot of money but it did not hapen over night. She put a lot of time in to it at first. There is no magic to real estate investing. I have made over 150k but it was over a few years some years are better than others.

I read a lot of post here that just say I put an offer in on a deal. If I posted every offer I have put in I would not have time for working on real estate deals.

I think Elix is saying he will help anyone if you ask how to make a deal work out for you.

There is no golden egg or pot of gold at the end of a rainbow in real estate. Yes you can make a lot of money, when you are ready to put in a lot of long hours. You have to be willing to hear no a lot or you have been turned down for a loan.

If you are not in the Success Academy join. Stay motivated to learn. I lean somthing new every day.

I hope this has helped. Sorry for grammer issues I am at work.

Steve and Veronica mentioned something that I, personally, have noticed and thought about myself.
I don't plan to post that someone has "accepted" my offer ---- as excited as I might be! Too many times if you follow that thread on out something happens and the deal falls through. Reality.
However, when the $$ is in my hands - you WILL hear about it! *LOL*

As was also mentioned earlier, too many think they can buy the book (yet never read it) and have "magic" happen in this - or any - area.

It just doesn't work that way.

I saw this saying the other day: "Even if you're on the right track you'll get hit by a train if you just sit there!"

You may be on the right track because you understand that RE is the best way to go and you even bought a book or the books!

But then what? Yup, it's called WORK....but the potential rewards are far greater than that thing most people work at day in and day out.

Mike

$100k per year = $8,333.33 per month

I've read several stories of first timers making over $5000 on their first deals. If several starters can do this out the gate, then anyone with a little experience can turn two of this kind of deal per month, or just one $10K, like Carol S. did on her first deal. She stated that she was playing it safe on the profit side to make sure to leave the deal juicy enough for the buyer to want to grab it. So, she could've made more - on that one deal!

I haven't done it yet (wholesaling is my goal's vehicle too), but I believe that with enough smart canvasing, and the right team members active, then $100K is easy. More would require more - that's the way it goes.

Good luck, pandpvinc, and keep the faith. The numbers are in our favor.

Easily thats just 2 deals a month at 5K each. Anything is possible my friend.

First off, a couple of things....
1.) If you think you can or if you think you can't, you're right.
2.) If you find a good deal, the money will follow.

That being said, your earning potential is in part linked to where you live and what type of properties you will be dealing in. If you are in Detroit, there is not as much meat on the bone of a $12,000 property as there is for a $250,000 property in California. So you have to do more deals in Detroit than you do in California to make $100k. Another variable is how much of your profits you can plow back into your business. If you are living paycheck to paycheck and need real estate profits to pay off bills and survive, you will have to work harder and put in more time to compensate for the lack of capital to grow your business. But know this, as you are wondering if it's possible to make $100k/yr, there is someone out there who is saying "My goal this year is to make $100k in assignments" and is taking action to find the answer.

If it came off in that way, it was not the intention. Be clear, I do not apologize for what I said and meant every word, but the intent was not to embarrass or bash.

It just surprised me that Vince has been on here over a year and to ask that question and to mention what he wouldn't do caught me for a loop. Now, I say all the time that not everyone is built for this and that if its not the biz for you, then so be it, but I don't recall someone saying what they wouldn't want to do because they're not sure of the outcome. Baffled me.

Again, no hard feelings but yes Vince you can 'conceivably' make as much as you like if you put the correct amount of time and preparation and the stars align correctly. If you got a question, and I can answer, never a problem.

Its all gravy

Elix
Sometimes it's not what you say it's how you say it.
You used a bullwhip to say something that could have been said with more compassion and maybe you could have provided some instruction and insight.
No we don't want to coddle people. That is not helpful. The last thing we want, however, is to make people on this site hesitant to ask questions.
Everyone should feel safe here.
Lauri

Sorry Elix
If you notice there were only a couple of minutes between our last two posts.
I was probably typing as you were posting.
Very kind of you to offer to help.
THAT is the Elix we know and love.
Lauri

All I have to say is ask Carol Stinson, she can do it , not only in her own state but any state in the country and NEVER leave the house.
So the answer is Yes , you can make that kind of money.!

Curtis

Whoa, whoa, whoa! Things got kinda' heated around here yesterday! Maybe I shouldn't have posted this!

I realize now that I left a couple of things out. First off, I just want to say that I love the idea of doing assignments, moreso than any of the other strategies. I'd rather focus 100% on assignments than rental props, lease options, rehabs, or short sales.

Second, I didn't say I didn't want to do the basic grub work that is required of REI, I wanted to know what kind of hours you had to put in early on to get somewhere. I apologize if I got everyone fired up because of that. The reason I said the "12 hours a day" number, Elix, is because, due to my present situation, I can only commit 1-2 hours a day to real estate. If anything, I'd say that's been one of the biggest hurdles over the past 18 months, that and settling on doing assignments as our first strategy.

There's two classes of students on here: those who have lost their job and, by circumstances beyond their control, are thrust into rei 100% out of necessity. Then there are those who still have a job and the time commitments required of it, who give what time they can to rei.

Hopefully this thread will do more good than bad for those reading it.

Vincent

Jim Rohn talks about the "seed theory" that is based on this idea. You want more crop - sow more seed. The more seed you sow the better the chances are that you will have a better crop.
That's the bottom line in this and ANY endeavor that requires YOU to be the one making the decision on how much time to put in.
For sure, this is not a "punch the clock at 9:00 a.m. (or whatever) and punch it out again at 5:00 p.m." opportunity.
That is called a J.O.B. (yeah, I know you've heard it before - "Just Over Broke").

Anyway...I think everyone seems to have settled down a little bit *LOL* and we all basically seem to be saying the same thing here.

justplain-e....exactly what I'm saying. You started off your "deal" thread with the explanation that you weren't celebrating YET! But, you had to share the excitement!
Absolutely!

So...again...you reap what you sow and the final question is: What (how much) are YOU willing to sow?

This business is not only for Hardworking People but also for "not so" Lazy People, this business is for those with Bad Credit and No Credit. This business is for those who have money and no Money. It's for everybody. It's 21st Century. It's Internet age. It's America. Blessings to all. LA

Mike,

Great point, thank you! That's a good way of putting it, even if this mostly broke kid has to start out sowing a pretty small crop to start out. Eventually, it'll make a little harvest and then I'll build from there in the next "sowing season".

Plain-e, that definitely puts it in perspective and helps you look at things from a different angle.

Vincent

Erik......how did your associate handle the proof of funds request?

F.E.A.R
False Evidence Appearing Real
-Anthony Robbions

just thought I'd share that with you lol. Heard it the other day!

Thanks, William! I've seen that here before, maybe from some of your posts.

Vincent

He's right about driving around. you want motivated sellers and in my experience cold calling produced luke warm sellers.

But seriously, Vince has a great idea I believe on what he has to do and when he's ready to put more time than he has into it, he will and he'll do great

Thanks, Elix! Yes, I'm putting what I can into it for now, just gotta "keep my hand on the plow"!

Vincent

= 10 assignments at $10k ea...meaning 1 deal every 5 wks or so...thats easy!!

lots of REI's are doing 10+ deals a MONTH!!

Find a big multi-family apartment owner who needs to sell. You could squeeze your fee in there and make it in one deal. I've heard of these deals but haven't seen them with my own eyes, yet.