What Buying and Selling Beanie Babies Taught Real Estate Wealth Network’s Cameron Dunlap About Flipping Vacant Houses

It was 1998 when Real Estate Wealth Network Founder & CEO Cameron Dunlap stumbled into a Beanie Baby convention held in an adjacent hotel conference hall to where he was working. He had heard about Beanie Babies and considered buying a couple for his yet-to-be-born daughter, Nicole. It was there Cam noticed a well-dressed gentleman, with a Rolex watch, who was clearly too old and successful to be playing with plush toys. Dunlap thought, “What is he doing here?”

So he went over and asked, “What is it about these Beanie Babies?”

The man leaned forward, rested his knuckles on the table, and said, “Son, you have no idea what you’re looking at.” He started telling Dunlap about the fortune being made by folks like him who were buying and selling these plush toys. 

Thus began a seven-figure “hobby” sending Dunlap across two continents, buying Beanie Babies in the states, then reselling them in the UK. Then, he’d buy Beanie Babies in the UK and resell them in the U.S. This toy market-driven industry helped develop his skills and shaped his primary career as a real estate investor. 

One of the wildest and most substantial profits Dunlap earned selling Beanie Babies was when he found two of them selling for $10,000 each. However, he only bought them after working out a deal with one of his UK dealers to purchase them for $35,000 each. Using the principle of “finding the buyer first,” he was able to collect his profit, risk-free, and fly home with $70,000 cash in his briefcase. 

These types of strategies transferred very well to real estate. Dunlap found houses his buyers were willing to purchase before actually buying them himself. It’s a tried and true strategy he uses to this very day, in his virtual wholesaling business. In fact, this strategy works even better now than it did back then because of the elevated homebuyer demand, and certain Covid-19 “no contact” expectations.

Eventually, the music stopped on that particular plush toy trend when the secondary market collapsed, largely due to overproduction by the manufacturer. However, the lessons Dunlap learned from his days as a Beanie Baby dealer have helped him and many of his clients create over $11,500,000 in profits as part of the Real Estate Wealth Network. 

Read the full story and learn how you can get started as a virtual wholesaler here

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Mike Zimov


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Source: Real Estate Wealth Network