146: Super Successful Wholesaler with 24 Year-Old Ryan Dossey
On this week’s episode of the InvestFourMore Real Estate Podcast, I interview Ryan Dossey. Ryan is a super-successful wholesaler and an investor. Ryan got started in real estate at a very young age and has found incredible success. He is only 24 and has set up a wholesaling business and bought many rentals. Ryan has also helped me with my direct marketing and runs a company that takes motivated-seller calls for investors.
One of the biggest reasons I have not done much direct marketing was because I did not want to take calls, but his company takes the calls for me, vets leads, and gets as much information as they can for me to follow up with. We talk all about Ryan’s past, his wholesaling business, his rentals, his direct marketing, and his company, Call Porter, on the show.
How did Ryan get started in real estate?
I ask every guest how they got started in real estate, and many of them have similar stories. Ryan says that the book Rich Dad, Poor Dad was a huge reason he got into the business. Many of my guests say that book was what got them interested in real estate. Ryan and I talk about the book, how motivating it is, and ironically, that it does not teach you much, if anything, about real estate. Ryan was also interested in cars, and he noticed that many people with super-nice cars were in the real estate business. Ryan decided that he would get out of his sales job and get into real estate as a wholesaler.
How did Ryan start wholesaling houses?
Ryan has a sales and marketing background, so he was not afraid to talk to people. He learned as much as he could about wholesaling and hit the ground running. He took out $1,200 from his credit card to buy some yellow letters and ended up wholesaling his first house about 90 days after he started in the business! He ended up making $12,000 on his first wholesaler deal, which was about half of what he made all year in his sales job.
Ryan and I talk a lot about getting started as a wholesaler. There are many people who teach wholesaling as the way to get rich in real estate with no money. Ryan admits you can wholesale houses without a lot of money, but you will need some money, and you will have to work very hard. You also have to treat real estate as a business. Ryan has done a very good job setting up his wholesaling as a business that basically runs without him.
How is Ryan buying so many houses?
Ryan’s company has done 27 wholesale deals so far this year. He estimates he gets about 30 to 40 leads per day from his direct-marketing campaign. Ryan and I also talk a lot about his direct mail on this episode, but one thing that allows him to handle so many leads is his company: Call Porter. Ryan was getting a lot of calls from motivated sellers, and he decided to hire someone to take calls for him. He had other investors who heard about the woman answering his calls, and they wanted to use her as well. Ryan decided to make a company out of answering calls from direct mail.
I use Call Porter for my direct mail campaigns, and it has worked great. The sellers who are not motivated or want to be removed from the list are weeded out before I talk to them. I know that every call is being answered by a live person. I know that person is trained on how to talk to motivated sellers and get as much information as possible.
Call Porter is taking on new clients, and you can find them here.
Conclusion
Ryan is a super impressive investor and businessman. It is even more impressive that he has accomplished all of this and is only 24. We also talk about his rental properties, how he finds them, how he finances them, and many other topics on the show, so make sure you listen to it.