Give and Get For Real Estate Wholesalers
Here is a quick bulleted list of what we will be giving to the real estate wholesalers that are part of the Wholesaler Network and what we expect to get from the real estate wholesalers that are part of the Wholesaler Network.
While I am still refining exactly how this whole system will work, I believe the basic ideas will remain the same as we move forward.
Give:
- Access to real estate courses on Top Secret Courses, Learn To Be Rich and others that we record just for Wholesaler Network. My plan is to give immediate free access to the first couple audio courses that you need to know to learn how to wholesale real estate. As wholesalers learn those topics and and actually implement them (see below in our “get” section for more details), then they will receive additional access to the next topic. This process will continue as they learn and do more.
- Access to our deal analysis engine both as a learning tool AND as a marketing tool to market their deals. We will be encouraging wholesalers to submit deals as part of the learning process. They will be able to see how I analyze deals using our deal analysis engine like you see on Analyzed Deals. They will also be able to use that same analysis as we market any wholesale deals they have.
- Access to our real estate investor list to actually market real deals for sale. As wholesalers begin to have houses to wholesale, we will be able to let them tap into our existing list of real estate investors in that market to sell that house quickly. Our list is growing at an incredible rate and, as you will see in the “get” section for us, the wholesalers will be helping to grow that list both for their own benefit and experience as well as for helping grow our list.
- Access to contracts, tools and forms. We have most of the contracts, tools and forms that investors need to wholesale properties or we know how to get them in your area. We expect to provide these to our wholesalers on an as needed basis.
- On-going support and articles. As you may have noticed, I am prolific (some say long-winded) and tend to write a lot of articles on various aspects of investing. Wholesalers not only get continued access to those, but help to create them by asking questions that I then take and instead of answering in a sentence or two, write out a full article explaining the question and answer in article format for them and for all future wholesalers.
- Telephone mentoring with me. This will definitely not be a call as much as you want, unlimited access to me model with all the things I have going on, but I do plan to make myself available for some telephone mentoring on an earned basis. In other words, if you are doing the things you are supposed to, there will be times–at my option–to have telephone mentoring with me.
- Cash money for sponsorship fees. One of the things you will be learning to do as a wholesaler is build your dream team in your wholesaling market. Key members of your dream team are great real estate agents and brokers. As you refer agents and brokers to Analyzed Deals (so they can submit great deals that we can analyze and possibly buy), you have a chance of actually earning money should they decide to sponsor their city. The exact percentages have not been finalized, but it looks as though you will be paid 15% of the monthly sponsorship fee they pay to sponsor their city if the agent you referred to Analyzed Deals ends up sponsoring their city. Monthly sponsorship fees look like they will be $197 per month, so that’s about $29.55 per month you’d be earning from building your dream team anyway as a wholesaler.
- How to checklists for each part of the wholesaling system. As we continue to refine the wholesaling system, I am going to strongly encourage the wholesalers that we are working with collaborate to create checklists for each part of the business that will grow and adapt over time.
- And, of course, it should go without saying, but the ultimate goal here is to wholesale properties for profit. You can do that partnering with me to get some help or on your own using parts of our system like our investor list and network of agents/brokers.
Get:
- We expect to get help building our lists of buyers in your market from our wholesalers. As we teach you how to build your own buyer’s list, we expect you to be adding that list to our list of buyers so that when we send out your wholesale deals (or another “deal of the week”) it goes out to the biggest list possible. You benefit. Other wholesalers benefit. We benefit. And of course, the investors on the list benefit from getting a steady stream of deals coming across their desk.
- We expect you to help build a local dream team for yourself and for us. An example would be to find real estate agents and brokers that work with investors and get them to submit deals that we all can look at for your market. Another example would be to find great hard money and creative lenders that can help our (that’s both yours and my) buyers buy the houses we are wholesaling.
- We expect you to help posting ads for deals and for list building. You will need to learn how to post ads for your deals on various websites to market them. You will need to learn how to post free ads on various websites to start building lists of retails buyers, investor buyers, agents/brokers, lenders and so on. You need to learn how to do this for yourself and we expect you to share those lists with us as you grow them and we teach you.
- We expect you to give us feedback and help us improve the program by telling us things that are working for you, things that are not working, areas you need help in, areas you need clarification with articles, forms and checklists you might need and so on.
- And, we expect to do wholesale deals with you. Making money wholesaling deals is what this is all about. We expect some wholesalers to want to partner on those deals. At this point, I don’t think it will be required, but if you want to do a few with us to gain experience, we can partner on them.
That, in a rambling nutshell, is what we expect to give and what we expect to receive as part of the Wholesaler Network.
Yes, it is FREE. You will notice that we are not asking for money up front like some groups do. You can, at your option, choose to spend some money on marketing, but almost everything I teach has both a poor approach (more time than money) and a lazy approach (more money than time). You decide whether to spend money on marketing like bandit signs or direct mail to get people calling you or to invest time like using free on-line websites, the telephone and e-mail to make contact.
You will need to work. We are not going to give you access to all our CD content and tools on day one. Besides overwhelming you and putting you into a learning coma for several months, that’s just not my style. I will probably teach you how to find and submit a deal first. Then, I’ll ask you to do that a certain number of times to gain knowledge and experience doing that and add value to our system. Once you’ve done a certain number, I will teach you the next step and ask you to do that for both the benefit of yourself and for our benefit. That pattern will repeat… I will teach, you will learn and do. Once you do enough, you can “unlock” the next thing to learn.
I will probably end up doing this with some type of points system. The details have yet to come to me in a dream (I will be sleeping tonight though). It may work something like this. I will teach you how to find deals and enter them in the system on Analyzed Deals. Then ask you to find deals and give you a certain number of points for each deal you submit. Maybe 2 points per deal submitted and 3 points if it is good enough to publish to the site. If you earn X points, you can trade those in for an audio download on how to analyze deals that teaches you about how I personally analyze deals and how other investors that you are selling to will likely analyze deals. How many points is X that you will need to earn to get the audio download? I am not sure… maybe 100. You will also get points for other things like adding buyers to the buyers list, adding agents/brokers, submitting offers on houses, getting houses under contract and so on. This has yet to be finalized, but that is what I am currently thinking.
Warning: Don’t be fooled though… real estate wholesaling is a SALES JOB. You must sell the seller on why it is better to sell to you, usually at a discount, and then sell the buyer on why your deal is better than all the other ones they can purchase right now. If you think sales is a dirty word, real estate wholesaling is NOT for you; go get a job supporting a sales staff somewhere else. Whether you believe it or not, you’re either in sales or in sales support.
Until my next post,
James