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Dante Smith's first deal involved wholesaling a novation agreement, a unique approach compared to traditional cash deals. He also plans to set up servicing on this deal, showcasing his innovative strategies in real estate wholesaling. Despite advice to focus on cash deals, Dante emphasizes the benefits of starting with wholesaling novations, sub twos, and seller finance deals. Cash deals are highly competitive in the industry, making alternative wholesale methods like novation agreements a valuable and less saturated option.