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Top Tips from the Expert Wholesaler Panel -Real Acquisitions Summit October 18th

 

RA Summit Summary & Photos- Wholesaler Panel was a huge success!

 
 







Monthly RA Summit - Oct 18
Expert Wholesaler Panel

Standing room only- Special thanks to our guest speakers Will Denker and Michael Alexander who shared their learnings, and to the enthusiastic audience for making the RA Summit on Expert Wholesaler Panel a huge success!


Top 10 wholesaling tips from our panelists:

“Finding deals doesn’t have to be a needle in a haystack. It could be a scissors or even a sewing machine in a haystack!”
Find the deals

  1. Direct mail works. 1-2% leads can come from direct mail so include a large enough pool, for example 2000 mailers can give you 10-20 leads.
  2. Internet is great but can be expensive, especially Internet marketing such as using SEO (search engine optimization) and Google Pay Per Click. Initially, start slow and build on referrals. Decide a daily marketing budget to make your initial investment last.
  3. Using HAR to find properties will yield results but remember that you are competing with data that everyone else has access too. Use Real Acquisitions to get custom lists instead. Learn to filter and get good at narrowing down the search criteria. That will significantly improve the quality of your deals that you can actually close on!
  4. Invest in people and be genuine. Set people’s expectations correctly. They can see through the phone! Under-promise and over-deliver, and not the other way round.
     

“Keep it simple…Don’t overdo, just do!”
After the phone rings…
 

  1. When you pick up the phone and make the call, your goal is to disarm the person on the other of the line in 45-60 seconds.
  2. Begin by getting their call back number by offering yours first. Other information to obtain: address, basic numbers on Real Acquisitions (not on Zillow!), occupied or vacant, asking price, reason for selling, underlying debt or monthly payment, ask the question, “If I were to give you $10k for repairs, where would you spend it?” or “I am a home buyer willing to pay top $ for your property. If we can close 30-45days what will you do with the money?”
  3. When you show up for the appointment, be prepared! Print your ARV analysis and have actual comps. Think of multiple offers (for ex, seller financing; sub-tos, etc.).

 
“Don’t look for that silver bullet … the silver bullet is consistency!”
Sell that puppy!
 

  1. Don’t try to do all by yourself. Talk to others… Delegate or partner. Use automation. Use virtual assistants (train them well first!). Get your properties in front as many eye balls you can. Post properties on craigslist, Facebook and other real estate networks.
  2. Understand the concept of net listing instead of charging commission. Your seller clients love it because they are guaranteed a fixed amount. You will love it because you keep the difference if you sell at a higher price.
  3. Be wary of 1 or 2 page contractors, and including any “non-refundable deposit”. Use proper TREC contracts. Finder’s fee or an option should be okay.


 
 
 


 

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