Alec Hawthorne shares how he and his dad made $5,000 on their first wholesale deal and how they got started in real estate. They used the DealMachine app and drove around neighborhoods, tagging distressed properties and making cold calls. After their initial success, they shifted strategies and started reaching out to real estate agents for off-market deals. Alec also discusses how he analyzes deals and estimates repairs. Key Talking Points of the Episode 00:00 Introduction 01:35 How did Alec make $5K on their first wholesale deal? 04:01 What was it like for Alec to look for his first wholesale deal? 05:35 How did Alec get into wholesaling? 08:24 Why did Alec have to change what they were doing after the first deal? 09:49 How did Alec really learn about wholesaling? 11:14 How does Alec calculate the numbers when evaluating a deal? 13:53 What strategy does Alec use in his real estate business today? 15:09 How does Alec structure agents’ commissions on his deals? 17:16 How does Alec find buyers for their deals through ChatGPT? 19:55 How many deals does Alec get from agent outreach? Links FREE Trial: Deal Machine App https://www.dealmachine.com/pod Podcast: 053: $35,000 on His First Deal To 80 Deals Later with Phillip Villegas https://podcasts.apple.com/us/podcast/053-%2435-000-on-his-first-deal-to-80-deals-later-with/id1667656532?i=1000629356538 David's Social: @dlecko https://www.dealmachine.com/pod