236: From Tragedy to Broke to $400,000 a Month with Lance Wakefield

<p>How does one scale a real estate investing business to hundreds of thousands of dollars in profit in under two years? </p><p>That’s the topic on today’s episode of&nbsp;<a href="https://www.biggerpockets.com/podcast" target="_blank">The BiggerPockets Podcast,</a>&nbsp;where you’ll hear just how&nbsp;<strong>Lance Wakefield</strong>, a real estate wholesaler in the Dallas area, accomplished that amazing feat. You’ll hear Lance’s powerful story of hitting rock bottom through numerous tragedies that hit him all at once and the devastation that caused—but you’ll also hear how he went from having just $3,500 to his name to earning over $400,000 in profit in less than 18 months. </p><p>This show is motivating, educational, powerful, and moving—so don’t miss a moment of it. This is one show you’ll want to bookmark and listen to over and over and over again!</p><p>In This Episode We Cover:</p><ul><li>What&nbsp;<strong>Lance</strong>&nbsp;did before real estate investing</li><li>How he learned to&nbsp;<strong>flip homes</strong>&nbsp;at the age of 15</li><li>The concept of “<strong>house hacking</strong>” car dealerships</li><li>The&nbsp;<strong>life tragedies</strong>&nbsp;that led him to lose everything</li><li>Why&nbsp;<strong>stupid deals</strong>&nbsp;provide priceless teaching moments</li><li>How to achieve&nbsp;<strong>massive success</strong>&nbsp;in just 21 months</li><li>Why he teamed up with his&nbsp;<strong>wife</strong></li><li>The story behind their&nbsp;<strong>first deal</strong></li><li>What to know about the&nbsp;<strong>2% Rule</strong></li><li>What you get when you spend&nbsp;<strong>$50k/month</strong>&nbsp;on marketing</li><li>How to build out your&nbsp;<strong>processes</strong></li><li>How to obtain the right&nbsp;<strong>mailing list</strong></li><li>The&nbsp;<strong>software</strong>&nbsp;he uses to build his deal funnel</li><li>How he determines the needs of the&nbsp;<strong>seller</strong></li><li>How to make real estate investing a&nbsp;<strong>business</strong></li><li>What’s&nbsp