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Updated over 2 years ago, 06/06/2022
- Flipper/Rehabber
- Wilton, CT
- 4,020
- Votes |
- 4,733
- Posts
A Fool Proof System To Wholesale Successfully!
Boy I constantly see people here asking about wholesaling, how to find cash buyers, how to find motivated seller leads and questions on what mentoring system to buy for wholesaling.
I don't mean to crap on anyone's wholesaling mentoring system ... BUT, yeah... I don't really feel there is a need for any courses or mentoring on this. This may be my own personal opinion and I am sure the wholesaling gurus will fight me on this, but they can try, if they want to be destroyed!
Let me show you all our wholesaling blueprint and system looks like.
Rule #0: For Pete's Sake People, Use Intelligence First And Foremost
NEVER follow anyone blindly. They claim anything, verify it, make them prove it, Ask them to SHOW it. Remember this, not because 3000 morons all agree on something does it mean that what they agree on is correct! ... and there are a LOT of morons here (sorry, not sorry Biggerpockets)
Rule #1: Understand That Your Success Is Based On Your Ability To Find Motivated Sellers.
Let this sink in for a few seconds. Ready? OK read it again:
Your success as a wholesaler, flipper buy & Hold investor is based on your ability to find motivated sellers, YET you are using strategies with a less than 3% success rate to find motivated sellers. In other words, you are relying on strategies with a less than 3% success rate to become successful. In other words your chances to become successful is LESS than 3 %. Makes sense yes? Yes!... ok so then answer this: Why are you using DMM, Cold calling Text messaging, driving for dollars, Bandit signs, to try to find motivated sellers? They DO NOT GET YOU motivated sellers. These strategies have a less than 3% success rate right? OK answer me again. Why are you using
DMM, Cold calling Text messaging, driving for dollars, Bandit signs???!?!?!? Is it because a Biggerpockets Podcast? Or your favorite Guru/YouTube influencer told you that? Stop acting stupid man. Look at rule #0!
Rule#2: NEVER Sign A Contract Unless It Is A Homerun Deal
I keep seeing posts about "how do I find cash buyers". The answer is.. you don't (have to).
If it is a homerun deal you have signed, the cash buyers will come to you!. All you need to do is wave that sucker around, buy a bat and beat the crap off the buyers trying to jump all over you to get to that contract first.
Rule #3: Sign The Contract Based On Your Numbers.
See, what most of you do is negotiate, negotiate and negotiate until the seller won't budge below a certain number. You sign the contract based on that number and then hustle to find a buyer. BAD Investor, BAD!!
If you don't get the seller to reach YOUR number, you walk away! Period!
Rule #4: Be Honest & Transparent
Yes, you are Going to tell the seller that you have ZERO intention to buy the house and that you are going to put it under contract and then sell the contract for a fee.
Honesty is KEY. We get 80% of our offers accepted by telling them EXACTLY that.... ok ok ok a little more goes into it, but it would be a huge story and I have not showered in 4 days and even my office plants can't deal with the ... special "ecosystem" in my office because of my manly Man Musk! Come in my office. The air here will put hair on your back!
Rule #5: The Fewer Cash Buyers On Your List, THE BETTER!
The more buyers you have, the more deals will fall through. Trust me on this. Quality is what you are after not quantity. You just want a certain number of buyers based on the amount of deals you make a month. I have developed a mathematical equation how many buyers you need. Anyone that wants this equation, comment with "Jerryll you are Gadahn sexy and smart and handsome and you smell so good", and in return I will tell you my amazing wholesaling script that gets me a ton of contracts signed BEING HONEST and the equation of how many buyers you need, to streamline your business and make it 76% more efficient (just pulled that number out of my hairy, yet marble sculpted butt)
What?!
You thought I was going to list 34 rules how to do wholesaling.. Aww you so cute. Wholesaling is easy people. You all are simply making it way too complicated!
Follow these 5 rules, and you can't go wrong... unless you are realllllly intelligence-challenged. But that is on you .. not me.
Now have you noticed something interesting? ALL rules but ONE are things you can instantly do without any mentorship or education other than what you can find on youtube. There is ONLY ONE rule that has direct influence on how successful you are.
RULE #1!
Forget wholesaling mentorships, and look towards how do you ACTUALLY find motivated sellers. If you master this, money WILL follow!
Good luck!
- Jerryll Noorden