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Wholesaling houses for beginners is simpler if you follow a few simple steps and stop complicating it beyond solving problems for distresses owners.
I gave 4 tips for beginners in this post but I want to add 12 more tips as inspired by the questions below by a beginner; I thought you’d find value in it.
1. Don’t overthink sales contracts; any contract will work as long as the seller is motivated.
2 Don’t go to the courthouse wasting time to pull data in the name of quality and “free”; you get paid for flipping time into money faster than a day job can.
3. 40th Law of Power - Despise the free lunch; YouTube University is good for fanboys. Professionals pay to be trained.
4. Don’t drive for dollars personally; it’s not worth your time. Have others who do not value time do it.
5. Don’t overcomplicate what to say to sellers; simply ask “are you open to an offer” and then look for more problems to solve in the conversation.
6. Go to EmpireBIGData.com for a directory of existing cash buyers in any neighborhood in the US.
7. Learn how to use simple internet and digital marketing to build a massive list of able and willing buyers for the market; the list is an asset.
8. Don’t overthink how long it takes you to dispose of a contract; focus on finding good deals and building your buyers list.
9. If you are cold calling, don’t use manual dialing; Use auto dialers like Mojosells.com Wholesale houses is not worth it if you are engaged in manual labor. Leverage technology.
10. Set the auto dialer to move on to the next data after 5-7 rings and no pickup.
11. I recommend setting up business profiles on all the main social network sites that you already use but it’s not an emergency but also useless if you wont start marketing consistently; Marketing is emergency.
12. Don’t be a perfectionist; Be a Progressionist.
Below is a question for us to address with this lesson...
So I've been meticulously working to get my and the husband's wholesaling company to greenlight status so that we can go live.
I have a few more things to do and I'm hoping that someone will be able to help me:
1. Should the various contracts that we use be customized to our company? (I.e. watermark, company logo)
2. Is the only way to acquire absentee owners, tax liens, divorce, threatened foreclosure lists is to pay for them via particular databases? (I.e. landglide, etc.)
I've heard different people say that they get their lists for free.
3. I have driven for dollars just to get a feel for it and have found 5 houses that I feel would be prospective sellers, however, I can't find the words to say to these people when I make the initial contact.
What are some suggestions?
4. How do I acquire a directory of buyers?
We're extremely green and haven't met any yet. Is it safe to ask if there are any buyers in this group to add to our contact list?
The last thing that I want is to tell someone that I can sell their house expeditiously but have no one to buy it.
5. Might be a weird question: we got a business line via a really cool app, however I feel like it rings too long before the recording picks up.
How many rings are recommended before the recording starts?
6. Do you recommend that we set up LinkedIn and Facebook business pages?
What other platforms do you recommend that we set up business profiles?
***Sorry for the length, I'm a perfectionist and want everything to go as smoothly as possible.”
Enjoy the video.
ABOUT YOUR HOST ::::|
Ola "Tux" Abitogun is the Creator of myEmpirePRO and author of Smart Real Estate Wholesaling. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and a father. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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