Corey Edwards – $10M Per Year in Flips and Wholesales
Please introduce yourself.
On average, we perform 50 million traditional transactions each year, and another 10 million are flips and wholesales. We are in Detroit, Michigan, and Fort Lauderdale, Florida. Our team size is 10. A transaction coordinator, three ISA callers, and a full-time data entry admin make up our group of five administrators. The team’s remaining members work in sales full-time.
How did you get started in the real estate business?
My whole life has mostly been spent in the real estate industry. My parents had many rental properties in Detroit, Michigan, so I grew up in the real estate industry. In fact, I recall knocking on doors to collect rent when I was eight years old.
What are some hot markets for real estate that you are excited about?
We are now working with a hedge fund organization that has $2 billion available to invest in the real estate market in markets like South Florida, Detroit, and anywhere in the sunbelt states. We are now searching for land deals where we can construct brand-new rental houses known as BTR.
How do you source your real estate deals?
We contact prospects after purchasing off-market data. Vacant property lists, code infractions, pre-foreclosures, and probates with extensive follow-up systems.
What are some checks and balances you’ve put in place to protect your real estate transactions?
We won’t succeed without a capable team that has a high degree of awareness. Our staff works like a well-oiled machine to ensure that nothing slips by or is ignored in order to win.
What is one piece of advice you would give someone starting their real estate career?
Having a working knowledge of real estate and getting your license are both very helpful. If you want to succeed in this industry, make sure to surround yourself with successful individuals and then emulate them. All you need to do is emulate what they accomplished and implement it into your own company since the GPS of those who have achieved success has already been mapped out.
What is one software you use for your business and recommend to others?
Batch Leads for a CRM and REI Pro for data. We use Follow Up Boss for our conventional company operations.
What is your superpower in life?
In our industry, follow-up is crucial. The gold nuggets won’t just fall from the sky; you need a solid follow-up mechanism.
What is a failure you’ve had in life that set you up for eventual success?
Being in real estate, I lost everything monetarily in 2008 when the market plummeted. After reflecting on that error, I managed to recover ten years later.
What is one book that has influenced your life the most? Why?
“The Travelers’ Gift” by Andy Andrews. It is oriented toward attitude. We will always have ups and downs in this industry. There are more ups than downs, but what really important is how we get through the downs. Failure is only a door that opens to success. Therefore, never give up and use failure as a learning opportunity. Once you stop giving up, the world is yours.
