RG 125 – From Broke to a Real Estate Empire with Dan Breslin
- Dan’s journey started in a jail cell
- Dan does wholesale real estate
Nuts and Bolts
Dan Breslin is the President of Diamond Equity Investments which is a real estate company that flips properties in Philadelphia, Chicago, Atlanta, Miami and Tampa. Dan has been full time since 2006 and averages 25 deals a month. Dan made his first dollar doing a paper round as a child. Dan’s journey started at 26 years old when he woke up in a jail cell having blacked out from drinking the night before and being found in someone else’s car crashed in front of police. For his crime Dan did a year in jail and then came out on a work release programme. While in jail he read Rich Dad Poor Dad and was inspired. When he came home he was a felon and found it difficult to get work, but he was encouraged to be an entrepreneur. In 2015 he moved from Philly to Chicago and now he lives on Lake Michigan.
Dan works in the wholesale business where he buys properties, cleans them up and puts them back on the market. He does a light amount of work to the property; some paint, new carpet and minor rehabbing and then resells to a retail buyer or flipper depending on what his client wants to do. He funds the purchases through in-house equity and he also has a collection of private lenders so he doesn’t do capital raises or syndications. Dan also doesn’t do his own brokerage and will help clients personally with loans. Dan’s tips for starting in wholesaling are make sure you’re physically in the market so you can visit properties, and make sure you have a great team around you.
- Most important habit to keep on track to goals – Eat well and exercise
- Most important tool – Black book for writing goals
- Most important failure – Backsliding into drinking
Contact – reidiamonds.com