June 25, 2023


So wholesaling houses are no different. you as a wholesaler getting a contract with a seller, somebody that actively wants to sell their property, they agree to a set price with you at a wholesale discounted price. Once you have that property under contract, you send it to the title company. They get all the paperwork done. In the meantime, you're searching for a cash buyer to take your position in that contract to be able to close on it.

June 24, 2023


If you don't know what wholesaling is, it is literally flipping houses with no money. You know, the whole process of wholesaling the house. If you really think about it. Everything that we have in life is wholesaling almost everything that we own and we have and we use every day has been wholesale to us.

June 23, 2023


You can definitely make more money by keeping the property, but it's still important to wholesale, in my opinion. Just so you have that big income coming in to be able to pay for these deals. It is possible to become a millionaire quickly in this business. All you have to do is believe and just be willing to take the action, consistent action every single day, and you can do it too.

June 22, 2023


It's smarter to keep a house than a wholesaler. To be honest, wholesale is still our main thing because I want that big active income coming in. So that's always important to me. But if you do enough deals, you can still always keep that way. You still have that passive income in your net worth building.

June 21, 2023


Ultimately, if you've got the finances in place as far as lines of credit and you've got active income to pay for deals, it's actually smarter to keep a property and you actually can make the same amount of money, if not more, by holding a property as opposed to wholesaling.

June 20, 2023


So wholesaling to me is just a means to an end. It's a way to make a giant active income because active income can easily be used for whatever you want. You know, if you're into stocks or whatever else.

June 19, 2023


I looked at wholesaling like an ATM, but also I always knew from the get go that the real wealth will come from holding rentals only will I have passive income forever, but I also have that net worth that will continue building over time, you know, my net worth increases.

June 18, 2023


So I've got that active income paying for my passive income, which becomes, you know, $400 to $500 per month on active. You know, I've been doing this for 2 and a half years now, and I was a millionaire probably in less than two years. And I didn't even notice until my tax accountant told me.

June 17, 2023


You buy a house for $0.50 on the dollar, for example. Let's just say for easy numbers, it's a $100,000 house. You buy it for $50,000, maybe $15,000 into the remodel. So you're all in for $65,000. So you can refinance that house, not only get your money back that you've put into it, but also get some tax free money so some more active income money.

June 16, 2023


So as a wholesaler, we're buying this deal way less than market value in most cases. So if we're getting these properties for $0.50 on the dollar and we close on it, fix it up. I mean, basically the first try to buy, remodel, rent, refinance and then repeat.

June 15, 2023


If you have a high active income, you have the money to put down on these houses to make them passive income. But not only that, not only will you get paid forever when you actually keep rentals. So not only will you have those forever, but you also increase your net worth on every property that you close on.

June 14, 2023


Doing wholesaling is really just, you know, I've said it before, it's like an ATM. What that provides for you is active income, which is awesome because that active income can help fund deals that you can close on to either flip or to keep. As rentals in the rentals especially is is key because that could make it passive income.

June 13, 2023


How I became a millionaire in less than two years. Wholesaling real estate, you know, is really just a means to an end, in my opinion. When I found out about it, I was super excited just to have the knowledge and to buy and sell a house without even owning it. Right.

June 12, 2023


Timing is key when you're trying to get a hold of these sellers to stick with it, stay at it and you will succeed. That's really the key to this whole business is consistency. If you're consistent, there's no way to fail, and the only way you fail is to quit.

June 11, 2023


Timing. You just never know. Try different time periods throughout the day and try a different method. You just never know. So that's why it's important to always be top of mind because if your company is top of mind, you're more likely to get the deal. If you're not, you might be warming it up for the next investor or the next wholesaler coming along to get that deal easier.

June 10, 2023


I would say probably 99% of deals come in, follow up. You're hardly ever going to get a deal the first try, first call. You know, it happens very rarely. So follow up. You know, it's really important to do that all the time.

June 09, 2023


If you're working on sellers, you know you need a lot of them. Obviously, you need to fill your pipeline, follow up these with these leads all day, every day. And don't ever get let a lead go untouched more than a handful of days because you or your company or however you're presenting yourself to these sellers. If you're not top of mind to them at all times, they're going to go somewhere else.

June 07, 2023


A buddy of mine from out of town knew that our wholesaler in this area and they were like, Hey, we got this property. You know, we don't have any buyers there. Can you help me dispo it? I was like, Sure, no problem. You know, give me the address. So he gave me the address. I looked at that property in our system and we actually had that lead in our system. And it was this late, I'm telling you about that. We've probably followed up like 40 times on this lead and ended up losing the deal to this other investor. And they got him on the first try.

June 06, 2023


Timing is key because you never know what's on someone's mind. You always have to be top of mind. Your company has to be top of mind when they're ready to go.

June 05, 2023


Keep in mind, it typically takes about 10 to 12 follow ups before you ever get a deal. That's kind of the industry average, not just, you know, in wholesaling, but that's just the industry sales average. It takes 10 to 12 touches before you actually can get somewhere with someone. So follow up is key.

June 04, 2023


They could just be completely distracted with their life and it's kind of already out of their mind after they fill it out. And they may not even have you in mind at all. So we've got to keep following it forever and ever and ever until they basically sell us the house or tell us that they've already sold it or told us that they're not interested.

June 03, 2023


We try every single day, several times a day, until we reach these people, you know, because we if we do have five touches within the first 5 minutes, you know, we might try again 2 or 3 hours later because you never know. Now they might be near their phone or they might be available at the time or whatever the situation is.

June 02, 2023


And the reason I'm saying timing is everything, because you never know what's going on in a seller's life. Like they might have came into your system today. And for whatever reason they got busy or distracted or life goes on. And that's kind of their most their main priority is trying to get through that situation. In the meantime, they're also thinking in the back of their mind, Well, I need to sell my house. I need, you know, move grandma to a nursing home. I need to do all these different things so their mind is all over the place. That's why I say timing is everything.

June 01, 2023


Try to get a hold of them, whatever it takes. So we call three times in a row we text and then we also send an email because usually these forms that they fill out, it requires an email to be filled. So we do. That's five touches pretty much within 5 minutes.

May 31, 2023


So, you know, try and three times and hang it up and say, I'm going to call tomorrow. You might lose them, because that could be part of the reason they're not answering, too. They might be on the other line calling another investor because they didn't get a hold of us yet. Right after we call three times in a row, it's literally back to back ringing ring. They don't answer. Hang up, redial, remarrying, don't answer, hang up, redial. So we do that three times in a row. If they don't answer, we send a text right away.

May 30, 2023


Especially if it's a hot lead, like if it's paper clinically. I mean, that leads causing us several hundred dollars in most cases. Or if it's a Facebook lead, you know, we want to get a hold of those people. You know, A.S.A.P like right now because they're physically on the computer right there. And if you just got the form fell and it came back into your system, that means they're on the computer right there in there and they're actively pursuing a cash buyer for their property. So that's our opportunity right there when they're on the computer.

May 29, 2023


They kind of our policy. Just to give you an idea of when we're reaching sellers, especially like on the first call, like they came into our CRM system. So the first time we tried to reach out to them, it's like a three call minimum back to back. If they don't answer the first time, soon as you hang up, you're calling them again.

May 27, 2023


How to reach motivated sellers, how timing is everything whenever you're trying to reach motivated sellers. So timing is key. And the reason I say that is because, you know, whenever you're wholesaling a real estate, obviously consistency is everything in this business. So if you've got to be reaching out to these sellers all day, every day.

May 26, 2023


Obviously, like I said, our first priority is always to wholesale, but when you can't wholesale it and you have the resources and you know you have a good deal, just go ahead and take it down and flip it yourself. Because at the end of the day, it's still 30 grand. That's better than five grand or two grand or nothing. And luckily we were able to close on the property and still make a $30,000 profit. So we basically made something out of nothing, you know, if you want to put it that way. But.

May 25, 2023


price that $70,000 the remodeling costs and holding cost at $26,000 than our list price at $135,000 closing and commissions will be about $6,750. So that gives us a potential profit of $32,250.

May 24, 2023


If you know a market really well and you know your numbers really well, that's when it helps, you know, to be confident in what you have, you know, because obviously we did get offers on this property, but they were lower than what we even had the property for. I want to make no less than $10,000. So we decided to go ahead and take it down.

May 23, 2023


Once you start wholesaling for a while, you eventually can merge into doing flips and holding rentals of your own and that kind of thing, because the ultimate goal, you know, is true freedom through owning or at least controlling properties where you can have that financial freedom and monthly income forever, right?

May 22, 2023


This property actually came through Facebook. The seller filled out the form from our ad now this deal and this particular neighborhood in. So our goal on this property, our goal and every single property, to be honest, is to wholesale it. You know, that's our number one strategy on all dispositions.

May 21, 2023


I'm going to show you exactly how much we bought this property for, how much we put into the remodel, what the holding costs were, what our potential profit is, because we do have it listed now. And also, you know, I just want to kind of break down the whole thing. I'm going to show you a video just to give you an idea of what we did.

May 20, 2023


You know, always when you're negotiating with sellers, always trust. But you got to confirm later, especially if you have to renegotiate it. That just gives you ammo for your lower price that you're asking.

May 19, 2023


You're buying it based on what they told you. If the facts aren't what they told you are correct, then obviously we have to renegotiate that deal because we probably can't sell it because we bought it based on what they told us. So anyways, when you're renegotiating, you never want to go in blind and just ask for lower price just because you couldn't find a buyer yet to justify that lower prices. And explain that to them. Usually sellers are very reasonable. They understand like, yeah, that does make sense.

May 18, 2023


You're saying, Hey, you know, we bought this house. We were we agreed on this price based on these facts. These are the facts that you told us. But here's the reality that we're seeing with the pictures and video. Therefore, you know, we're going to have to get it closer to this price instead of the original price we agreed on. So obviously, you can understand our point of view. We're buying it and purchasing agreed on that price. Based on what you told us.

May 17, 2023

So when they get the pictures and the video back, they're analyzing those pictures and video based on what the acquisition manager found out in the conversation. Okay, You want to do all this work initially because if you do have to renegotiate, it's all about that first conversation.

May 16, 2023

So we're trusting everything that you're telling us and we're confirming that later with our boots on the ground compared to the pictures. So when you get your pictures and video back from your boots on the ground, it's important to really go through those. Look at side by side with the notes that your acquisition manager took.

May 15, 2023

What I say is trust and confirm. So what I mean by that is, so they're telling us all this information and we finally get to agree on a price scale. And you're basically trusting everything that they tell you because that's how it works in virtual. So in especially because we're not physically seeing the house, most of the houses that we do, we never see them at all. We never meet the seller in person. We never meet the buyer in person.

May 14, 2023


Will you ever get a deal on the first call? Sometimes it could happen. I'm not saying it won't happen, but it's super rare. Most of our deals come after ten follow ups or more. That's just the name of the game in sales in general, not just wholesaling.

May 11, 2023


You know, always trust but confirm. So basically you're getting all the information from them and you want them to talk at least 80% of the time in the conversation compared to your 20% you know, that's what we kind of teach our acquisition people. So really, it's it's all about just listening to what they say, taking your notes.

May 10, 2023


We at least need the five major things with every house. So what those things are, we want to know about the foundation. You know, what kind of foundation is it? Plumbing. The electric and then the roof. That's the five major things that that typically cost for most, especially if you're just selling to landlords.

May 09, 2023


The most important part is not the house itself. It's always about the seller, their particular problem or issue or distress. We would like to get their price if they can tell us the price, because that's the ultimate goal, you know. What do you want for the House?

May 08, 2023


So getting their motivation is always the most important thing that you can do no matter what. You know, what we can do as far as how much we can buy it for, because we always have to think about the end in mind. Like our goal is to wholesale this property. So what can we potentially wholesale this deal for, you know, in the end? So it all it all starts with your conversation. Okay.

May 07, 2023


How to negotiate with sellers specifically is how you trust what they're saying. But then you always back that up with confirmation. What what brought them to this point to where they're calling us or they're actually listen to us because we call them what is behind their motivation? What type of distress are they going through at the moment? What can we do for them? How can we fix their problem?

May 06, 2023


So then you go to either say the criteria and you can name it, or you can just straight purchase the list at that point. So once you do that, it's going to give you the price breakdown and everything else. $180 is what this shows on me. So I would just simply continue to check out.

May 05, 2023


So we did geography, the property tab and the options tab. Okay, so now we're looking for absentee owned. So you want to click that. Now this is already automatically checked, include properties with in-state owners, include property with out-of-state owners. Now our list is 6900. It's notice that.

May 04, 2023


Now property type is a is a big one for this demonstration. Obviously, we want residential single family. So we want to add that I always choose at least four duplex and the triplex and we want quads. So we've got all of those selected.

May 03, 2023


So after equity we want to choose to do year built. We want something at least 20 years old, 2000, you know, as the newest that we would work basically. So we know at least 20 years old. As you can see, the numbers change over here. Now we're down to 54,000. Okay, you're built.