Wholesaling Houses for a Profit, Ethically?
Believe it or not, the two are not opposing ideals. It is absolutely possible to have a scenario where a Homeowner, for whatever reason, decides that they need to sell, and does NOT want the most money possible.
Many times, when they decide to sell their home, they do not, for whatever reason, want to list their home, or sell their home as a traditional “For Sale By Owner”.
These homeowners, through inheritance, tax foreclosure, or some other means have a property that they want to liquidate.
A 21st Century World
Coming from a background of traditional “real estate Selling Skills”, I have managed to create for myself a systematic, duplicatable way to predictably, and reliably obtain ready to buy Buyers, as well as ready to act Sellers.
However, after writing my first sales skills based book “Sales Skills for Real Estate Investors” it has occurred to me that additional education is needed in this area.
The stakes are simply too high for the newer practitioners to NOT know about all the free ways to generate business; the skills needed to convert those prospects into quality leads; and then be able to convert those into paying closings!
Outdated, and Irrelevant
Many of the attitudes, tactics, and techniques taught by most “Real Estate Guru’s” in the market today through various free E-Books, and webinars are relics of a past that no longer includes the Realtor® who chooses to add wholesaling to their repetoire of services.
The senseless promotion of ineffective tactics such as “Yellow Letters” and direct mail flies in the face of modern, more effective techniques such as Content Marketing, and YouTube.
While these relics of days gone by have their place, they should not receive the inordinate amount of attention they receive. Why? Because their effectiveness relative to their cost makes their techniques unaffordable for many of the beginning practitioners.
It is true… I’ve put out The Red Pill Investor Sales Scripts, but the average new wholesaler doesn’t know all the different methods to apply!
Not Just Whining
Now, I am not just going to whine about my dissatisfaction with the level of education available to the modern day practitioner. No. I intend to lay before you a very specific plan. A plan to take those who know absolutely NOTHING about Real Estate, to being able to do a deal.. without costing you an arm and a leg.
Now it won’t be easy. I will be totally upfront with you. I will share with you what I believe to be the essentials of what you need to know to get your first deals up and running. Along the way, we’ll have a little fun while I share actual examples of what to do, and how to do it.
Taking Out The Guesswork
The idea here is to get you on the right track to building a successful, duplicatable, wholesaling business. That way, you can have the opportunities you want to rehab, subject to, or any other type of investment you choose to do.
Once you get good at finding deals, making accurate observations about price, as well as effective marketing strategies; then you will have a significant advantage over your competitors who are simply using bandit signs, and sending out letters to find their deals.
But enough of the hype… let’s outline what we will cover.
Why wholesaling real estate (Assignment of Contract) is hands down, the BEST way for person who is interested in Real Estate Investing to get involved.
Powerful, free or inexpensive methods that you can use to quickly get business flowing to you! Including Content Marketing, using YouTube, MLS Deals, and more! If you are a Realtor® you will not want to miss this!
Over 18 years, I’ve learned tons of powerful techniques. The trick to selling a lot of homes is being able to convert. In this chapter, I will share with you everything I can to help you get the most out of every lead.
One of the most confusing parts of the Wholesale deal, is understanding the dynamics of pricing. Particularly as it relates to repairs. Concepts such as ARV, and MAO (After Repaired Value, and Maximum Allowable Offer) are discussed, and subsequently… disproven.
5. How to Present a Wholesale Offer
It’s not hard to understand why many so called “real estate guru’s” gloss over this all too important point. It’s because they don’t know either! Sometimes, people possess the “unteachable.” You know what I mean… the guy or gal who has the “gift of gab”. Things seem to just work out for them. You can’t teach that. But you CAN teach a powerful way to set yourself up for success on your presentation. I will show you how to close over 60% of the appointments you go on.
6. How to Fill Out Real Estate Contracts
Now, I’m not an attorney. However, there are some basic things that I can teach you that will help you immensely when preparing your offers for Sellers, as well as Buyers. Techniques and contract tips like “Escalator Clauses” and “Escape Clauses” will be extensively covered. Get maximum coverage!
7. How Title and Escrow Work Together
No matter if you are in a “Title and Escrow” State, or an “Attorney” State, you will need to have a basic understanding of how these entities work together. Included in this chapter is influential ideas to help you gain the help of your local Title company! It’s easier when you have someone helping you on your quest for financial freedom!
8. Marketing For Buyers
Create a buyers list? Get a salable home first? Which came first? The chicken or the egg? In this chapter, we will cover potent ways to gain marketshare quickly. Building a buyers list, as well as a active sellers list is your goal…. so why focus on one or the other! Get Both…
If you want to get paid, you have to learn how to negotiate without emotion, or drama. It’s easy to say, but tough to do. Especially if you have “buck fever!”. Discover a systematic way to handle the negotiations between yourself, agents, as well as the Sellers and Buyers in your life. Learn powerful, time tested and trusted techniques to sell the property quickly.
10. Closing the Wholesale Deal
Here’s where the rubber meets the road. Throughout this book, you will learn powerful closes. Closes that you will be using to help guide your buyer and your seller to a successful sale! If you are a Realtor®, then you naturally know that things are different for you. With as many closes as we are going to cover, you will want to take careful notes so you can see how you can apply them to your business!
11. Ethics, And The Wholesale Deal
In this chapter, we will discuss the real world applications of what we are doing. In it, we will cover specific items for Realtors® in the National Association of Realtors® Code of Ethics, as well as just plain common sense. If you have ever felt as though you were the “carrion picking off the bodies of the dead” then this chapter is for you!
I will show you exactly why, you as a wholesaler are the key factor in the distress sale. If you are a Realtor® who happens to wholesale as well, then even better! Either way you go, by the time you are complete with this chapter, you will have a powerful new mindset. One that is built to help the community where you live in a powerful way.
So if you are interested in my ramblings on this subject, I would encourage you to follow my blog, and read along with me as I add new links to these chapters! By the end, you will have a concrete, written plan on what you can do to build a duplicatable, predictable, ethical wholesale business!