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Finding Motivated Sellers as a Wholesaler

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on Friday, 16 June 2017
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Motivated sellers make or break your career as a wholesaler. Without a seller ready to give you a contract, you're pretty much dead in the water.

Finding motivated sellers isn't always easy. There are plenty of traditional ways to go about finding these sellers, such as bandit signs, auctions and real estate meetings. However putting this into a plan you can actually use is quite different.

Before you start looking for the right sellers for your wholesaling business, you need to understand why they are so important. Without these sellers willing to sell you their discounted property, you don't have much to make money from. You need these off-market properties to create success as a wholesaler.

Motivated sellers bring you a property they are ready to sell, usually due to a life-changing event. Maybe they need cash fast because of an illness, a divorce, or because they inherited the property. No matter the reason, they are ready to sell and they want to get the deal done fast.

There are several ways to find motivated sellers with properties they want to sell fast. Here are just a few of the top choices.

Direct mail. When you sent out postcards through the mail, it only takes one deal to cover your expenses for about an entire year using this marketing method, maybe longer. You have to figure out your target market first and get a list of the address/names for that market. The good news is that it is very scalable, and can bring in quite a few deals. It's pretty easy to spend a few thousand dollars on direct mail marketing and come out of it with multiple deals.

Driving for dollars. It's hard work and a bit like pounding the pavement, but driving for dollars is a great way to find motivated sellers, especially when you're on a tight budget. If you don't have much to spend on marketing, this is one of the least expensive ways to find your next deal Look for properties with high grass, boarded windows and those properties that simply look ugly. Then, write down the address and find out who owns the property from your local tax assessor's website. You can easily find the owner's contact information with skip-trace software and give them a call about the property.

It's free, and some of your best deals may come from looking on Craigslist. People put up properties they want to sell there all the time. Not only can you search for these properties for free, but you can also put up your own ads on Craigslist.

There are many ways to find motivated sellers. Sometimes, you have to think outside the box, but you don't have to reinvent the wheel. When things are moving slowly, get to work and start marketing your wholesaling business for your next deal.

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How Playing Pokémon Go Makes You A Better Real Estate Wholesaler

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on Thursday, 11 August 2016
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Can Pokémon Go make you a better real estate wholesaler?

The new Pokémon Go game has taken over the news, web, mobile devices, and the streets. After years of fighting our kids for how much time they spent locked onto the Xbox we’ve been gradually waking up to the fact that video games can actually be beneficial. With the hi-tech environment we live in some video games may actually be teaching practical skills. Look at how the military recruits and uses drones today. Other games are proving valuable for people of all ages to boost creative thinking, problem solving, and brain power. So what does Pokémon have to offer real estate investors?

Searching for Properties

The main part of the new Pokémon Go game is getting out there in the real world to hunt for Pokémon via your mobile device. You walk or drive in the real world and find virtual assets on your phone. If you did any traveling at the end of this summer you’ve probably seen kids, teens, adults, and whole families out there eagerly hunting down Pokémon characters to add to their inventory.

12 months ago you might not have been able to get these kids off the couch. Now they are putting in the miles and are highly self-motivated. The two takeaways here are one; that you can gain a lot of traction in real estate as a family too, if you make it fun and provide the right motivation for getting everyone out in the field and spotting deals. Two; if you can hustle to find virtual game characters you can certainly get out of bed, take action, and go out and find house deals. You can motivate others to hustle in this way for you too.

The most successful wholesalers are those that are out there actively hunting deals every day. You can exponentially grow those efforts by recruiting others to help in your search too.

Branding

Pokémon has done an amazing job at making a comeback and reviving the game franchise. Within weeks Pokémon merchandise has hit the stores and is being proudly rocked by everyone. You can even find Pokémon t-shirts for sale all the way down at the tip of Key West. Kids and teens are already trained to know the shirts and what teams others are one, and whether they should like them or not. Where are your shirts? Where is your merchandise? Are you advertising for Pokémon or Tommy Hilfiger or Fendi every day? Or are you promoting awareness for your own real estate brand?

The Buzz

From the web to daily conversations on the street Pokémon Go is everywhere. The brand has done well harnessing internet marketing, but also word of mouth. Are you using these tactics for your real estate wholesaling business? How much are you talking to others about your wholesale business and deals? How much are you giving them that is worth talking about in their own conversations? Are they posting hashtags and @ messages with your real estate brand in them?

You don’t have to play Pokemon to become a better real estate wholesaler. But there are a lot of takeaways for many wholesalers to think about and put into play…

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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How To Make $96,000 Per Week Wholesaling Houses

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on Thursday, 02 April 2015
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How can you consistently make $96k per week wholesaling houses?

How can investors scale to this level of income faster, and without having to work on their wholesaling businesses more than a few hours a week? How can they do it sustainably?

Automating Your Real Estate Wholesaling Business

A new video blog episode from San Diego based Todd Toback reveals his secret to banking $96,000 in a week, from just 4 real estate deals.

Some wholesaler might already be making 10x this amount per month. But no matter what you are now, and where you want to go with your wholesaling business, keeping up this type of deal flow requires doing things differently to the average Joe.

While Todd may certainly have plenty of talent, and experience in wholesaling. The wisdom he is most keen to share is that his greatest success has come when empowering his team to do their best work. “Hire great, get out of their way.”

This is more than simply delegating. And far different than micro-managing.

Empower, trust, and let them go to work. The results might surprise you.

Todd says that his team brought together almost $100k in profit from wholesale deals in a week. Just by letting them do their thing. Do automate. Do create systems. But then get out of the way, and let it work.

4 Tips for Building Your Wholesaling Dream Team

Hire the Best

Those real estate businesses with the best talent will come out on top. Period.

Invest in Building Team Relationships

If you want loyalty, hyper-productivity, and awesome results for your team – invest in the relationship. The real estate industry is booming and good talent has plenty of options. Internal relations are as critical as external ones. Probably more so. These are the people that will generate the most leads for you, and turn those leads into dollars.

Not everyone wants to have regular meetings, or team cheer parties. Especially in this remote working era. However, empowering them to their best work, showing appreciation, being a reliable client-employer that pays promptly and provides consistent work, and enabling them to be a part of something bigger can all go a long way.

Leverage Your Team’s Word of Mouth Power

Bestselling author and revered marketer Seth Godin says most brands and independent professionals completely miss the boat when it comes to word of mouth. He says that referrals don’t happen because the individuals and organizations we hope to share just don’t have the motivation. And that those hoping for referrals aren’t putting enough thought into providing the right motivation and environment to foster more personal referrals.

Word of mouth marketing is some of the best. Yet, too many wholesalers fail to enroll even those closest to them, and those that have the most to benefit – their own teams. They should be sharing, and they should be motivated to make it a success - if they are proud of the work you are empowering them to do, and they are confident in your intentions and ability to serve their referrals well.

Never Let Them Go

Once you have found great talent, never let them go!

Summing it Up…

Refuse to give up. Wholesaling houses isn’t hard. Especially with the current market; inventory availability, appreciation, and best transactional funding. But, it can be lonely. It can be easy to be distracted, when you try to do it alone.

If you want to go fast at the beginning, it’s okay to go alone. But if you want to go far - go together. “Teamwork makes the dream work.”

 

Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.

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Overcoming The Challenges Facing Socially Conscious Wholesaling CEOs Today

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on Thursday, 12 December 2013
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This is the time of the year when many wholesaling business owners start thinking a little more about what really matters and charity. However, even the best intentions and goals aren’t always obstacle free. In fact, some of the most charitable aspirations have resulted in ruined careers. So how can real estate business owners and independent wholesalers fulfill more of their philanthropic objectives without winding up not much more than a lump of coal to give next Christmas?

Every wholesaler may have a different cause which is close to their hearts, but 99% of those reading this will have one. It could be finding a cure for cancer, ending homelessness, solving the world’s water crisis, or just helping to improve the local community.

However, as seen with various scandals, the Obamacare debacle, and numerous failed startups and green companies giving or fixing social and economic issues can be anything but easy. And the last thing any real estate business owner wants is to tank their operations on a diversion.
Fortunately, there are many ways to give, pay it forward and help solve local and global problems without going broke or risking your income streams.

If you can give monetarily do it. If not, take stock of your other assets and social currency. As a real estate wholesalers you probably have a pretty flexible schedule, many corrections and some significant online influence as well as a platform such as a blog.

Define how much free time you can use for volunteering and look for opportunities. Help raise awareness for causes via your wholesaling blog and social media profiles, and look for ways to use and mobilize your connections to help out in tangible ways locally.

However, do keep an eye on your personal and business finances so that you can keep on giving year after year. If you do get in a pinch remember to leverage Best Transactional Funding to stay liquid.
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