In the world of real estate investing, many people focus on buying properties, but the real victory lies in selling them. Jamil Damji, often referred to as the “Godfather of Wholesaling,” joined hosts Elizabeth Navarrete and Casey Dehle on PropelioTV to discuss the overlooked importance of dispositions in wholesaling. With insights from his thriving business, Keighley, Jamil offers practical advice for investors seeking to build successful and sustainable operations.
Who Is Jamil Damji?
Jamil Damji didn’t give himself the title “Godfather of Wholesaling.” That honor came from industry leader Steve Trang after witnessing Jamil’s expertise when closing high-stakes deals. Starting with nothing and building his empire, Jamil exemplifies hard work and creativity.
His first foray into wholesaling was accidental but life-changing. While walking his dog, Jamil spotted a “For Rent” sign on the third of the month—a sign of potential distress. One phone call later, he locked in a deal to purchase the property for $350,000 and flipped it to a buyer for $400,000, netting $50,000 in profit. That first deal marked the beginning of his journey and taught him a timeless lesson: the sale, not the purchase, is where you make money.
Balance Between Acquisitions and Dispositions
Too many investors carry an acquisition-focused mindset, pushing aside the crucial skill of selling. They spend their time securing deals but lack the ability—or strategy—to sell them. Jamil warns against the traditional formula of offering 70% of after-repair value (ARV) minus repairs and closing costs, as it can crush momentum for newer investors. Instead, he emphasizes having multiple exit strategies.
Whether it’s wholesaling, flipping, or seller financing, always think through how you’ll sell a deal before locking it in. Jamil’s own team often buys their own leads, ensuring flexibility. “If you’re not flexible, you’re finished,” he says. Real estate isn’t one-size-fits-all. The key to success is problem-solving and adaptability.
The Power of Organized Expansion
Keighley has become a leader in the wholesale industry, growing methodically across markets. Jamil credits this success to an organized approach to expansion. Before entering any new market, Keighley conducts detailed research, analyzing:
- Cash Transactions: How much activity exists in the area?
- Access to Capital: Are there private or hard money lenders locally?
- Market Conditions: How close are values to market crashes or peaks?
- Inventory and Demand: Are there sufficient properties to fit Keighley’s business model?
This thoughtful approach prevents disorganized—and costly—growth that often sinks budding real estate companies. For Jamil and his team, preparation eliminates unnecessary risk, making their presence in each new market impactful.
Building a Buyer’s List: The Backbone of Wholesaling
In wholesaling, your buyer’s list is your greatest asset. Selling a property becomes infinitely easier when you know exactly who’s ready to buy. However, this is where many investors fail. Instead of carefully crafting connections, they collect random emails and blast deals to uninterested recipients, burning bridges in the process.
Jamil advises investors to take time building serious relationships. Learn each buyer’s needs, investment criteria, and preferred deal structure. By categorizing your buyers into “buckets,” you can approach tailored deals instead of spamming the entire list. For example:
- A luxury car owner with disposable income might be open to investing in rentals.
- A repeat cash buyer likely has specific preferences for ARV percentages.
The best way to build this type of list? Research, ask questions, and genuinely connect with people.
Creative Exit Strategies and Responsible Wholesaling
The ability to think beyond traditional formulas can lead to deals others overlook. Creativity is essential, whether it’s seller-financed agreements, sub-to deals, or working with hedge funds that buy at up to 90% ARV.
One example Jamil shared involved a subject-to deal with minimal equity. Through creative problem-solving, both he and collaborator Pace Morby walked away with solid profits. By focusing on solutions rather than rigid formulas, they helped the seller resolve a problem, while unlocking cash flow for the new buyer.
Additionally, Jamil urges wholesalers to act responsibly. Too often, investors lock up deals they can’t close, damaging their reputations and the industry’s credibility. Always have an actionable plan and execute with integrity.
Turning Sellers into Buyers (or Lenders)
When working with sellers, don’t stop after closing the deal. Sellers with newfound cash from a property sale often look for ways to reinvest. This is a prime opportunity to offer an alternative: private lending.
Jamil’s team has converted many sellers into private lenders, creating a win-win relationship. Offering 10-12% annual returns, secured by real estate, is an attractive option for sellers who’d otherwise rely on savings accounts or financial products with lower yields.
Build trust with your sellers. Ask what they’re planning to do with the proceeds—and propose the idea of reinvesting. It works more often than you’d think.
Keighley’s Culture and Future
The work environment at Keighley resembles “The Ellen Show meets Boiler Room.” It’s energetic, optimistic, and driven. Employees listen to music, celebrate small wins, and push each other to succeed. For Jamil, it’s more than a workplace—it’s a community.
As for growth, Keighley has expanded to multiple markets, including Arizona, Nevada, Georgia, Florida, Utah, and Texas—with plans to start operations in Houston soon. By maintaining their culture of professionalism and positivity, they’ve built success wherever they go.
A Holistic Education: Astro Flipping
Jamil and his business partner Josiah Grimes created Astroflipping, an educational program that teaches investors both acquisitions and dispositions. Unlike traditional coaching programs charging $30,000+ for impractical advice, Astro Flipping delivers actionable tools investors can use immediately.
With direct access to mentors like Jamil, students learn how to structure deals, build buyers’ lists, and confidently expand into new markets. It’s more than mindset training—it’s real-world business advice.
Key Takeaways for New Wholesalers
- Balance Your Focus: Don’t just chase acquisitions. Selling deals effectively gets you paid.
- Build Relationships: Treat buyers and sellers as partners, not stepping stones.
- Think Creatively: Go beyond cookie-cutter deal structures to solve unique problems.
- Be Prepared: Research your markets and have exit strategies before locking in contracts.
- Act with Integrity: Always have a plan to complete deals and protect your reputation.
Closing Thoughts
Wholesaling isn’t just about finding deals; it’s about moving them. Jamil Damji’s success proves that careful planning, relationships, and creative problem-solving lead to sustainable growth. Whether you’re new to real estate or scaling your business, remember: the deal starts with an acquisition, but it doesn’t end until there’s a sale.
