In today’s post, Brooks Conkle of The Southern Investor shows you how to profit from competition through cooperation…

The last 2 wholesale deals that I have done used a key strategy that a lot of investors, especially new ones, don’t use.  What was the strategy?

Relationships W/ Other Real Estate Investors

Typically thought of as competition in the world of wholesaling, other investors can be a valuable source of business given that you take time to develop relationships with key investors and keep in touch on a consistent basis.

Why do I think that having ‘friendly competitors’ is a great idea for your business?  Because you won’t always have all of the pieces to the puzzle that are needed to make a deal successful.  The Property, The Buyer, and The Financing – all 3 of these must be had in some shape or fashion in order to cash out a deal.

Buyers go through cycles and even serious buyers are not always buying.  You might send them a deal and they may be busy fixing properties, working on refinancing others, not like the area, etc – anything can happen in their lives that can delay them buying your property.  You may find what you think is a perfect deal but for some reason the buyer list that you have developed is not biting on your property.

What should you do?

Break out your trusty relationships with other wholesalers.  Offer to JV (joint venture) with another wholesaler that can bring a buyer in exchange for 50% of the profits.  I believe that if you incorporate this strategy that you will experience more long term growth and will generate more profit than if you don’t.  You can do more deals in a shorter period of time if you do and start incorporating the velocity of money into your business model.

Let me show you how…

If you have a list of say 100 buyers and you know of 5 other serious wholesalers that have the same, then you have expanded the number of buyers for your property from 100 to 500.  The same works with deals.  If you are marketing for deals and so are the other 5 wholesalers in your network, then you potentially have 5 times the number of deals to market to your buyer list.

I hope that you choose to see other investors as potential profit centers and not just competition.  I urge you to begin building relationships with other wholesalers today!

________________________________

Brooks Conkle is a world vagabond and outdoor enthusiast that renovates and wholesales properties in Lower Alabama.  He started The Southern Investor to chronicle his business and pass on knowledge to others.

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You’re about to learn 5 simple ways to build your wholesale buyer list.

Why do you want a wholesale buyer’s list?

Because…

… wholesaling property is the quickest way to make a buck in real estate investing. It’s not uncommon to make $3K, $5K or even more on a wholesale deal (as you’ll see in the video).

To wholesale a property, you find a motivated seller, put a contract on the property, and assign it to a buyer. That’s it.

So, I put together a little video to show you how to build your wholesale buyer’s list… that way, when you have a great deal you would like to flip for quick cash, you can do so.

(note, this video was for our Private Money Blueprint students… but we got such good feedback on it, I had to share it with you too :-)

Also, after you watch the video, make sure you download the free wholesaling form.

How to Build Your Wholesale Buyer’s List

Check out the video below…

Like I said, pretty simple right? This isn’t brain surgery or anything.

Ok, here’s the link to download your free wholesale buyer questionnaire…

>> Grab Your Wholesale Buyer Form – Click Here <<

Got a question, comment, tip?

Toss ‘em in the comment area.

Happy Investing!

~ Patrick

P.S. – One of the best things about wholesaling is that you don’t need cash or credit. I made $10,000 on my first wholesale deal when I was just 22 years old!

If you’re interested in learning more about wholesaling, grab this FREE 7 day mini-course.

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Here we go again… with our “Best and Brightest Women in Real Estate Investing” series.

New to the series? Start with the introduction.

This week, bartender-turned-wholesaler Steph Davis of Flip This Wholesaler is bringing us Part 5.

I had the pleasure of meeting Steph recently in person for the first time. We’ve known each other for awhile… but like many of the online relationships I’ve made over the years, I hadn’t actually met her in the flesh until the other day.

Check us out…

Trevor and I were down in Tampa for some consulting. So, Steph scooped us up from our hotel and took us to a cool little spot called Ceviche.

… and it’s really cool. Because even though we’ve only ever talked on the phone and through email, it’s was like we already knew each other. And we do.

Thus is the power of the Internet, social media, etc. Pretty cool stuff.

Alrighty, here’s what you’re about to learn from Steph:

=> How she let 2 years pass w/ ZERO results and finally “embarrassed” herself into action

=> How she turned lemons to lemonade when her tenant didn’t pay the rent and took off for Alaska in the middle of the night

=> What caused her “nightmare” rehab and how she turned it around into a $50,000 PROFIT

=> Why it’s NOT a good idea to have rental property if you’re a beginner

=> and much more!

Steph Davis | Best and Brightest Women in Real Estate Investing

Sit back, relax, and enjoy as Steph shares her story with ya…

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Alrighty, here’s Part 2 of MustKnowInvesting.com’s series, “The Best and Brightest Women in Real Estate Investing” with Flipping Mom, Esi Benedict.

Are you new to this series? If so, click here to start with the introduction.

In a moment, Esi is going to share with you:

= > The REVELATION she had sitting by her daughters bedside in the hospital that’s completely changed her life … FOREVER

= > How she closed her first deal (just this past February) and within two months closed 4 properties

= > Best of all… How she now has the luxury of staying home with her daughters who are 2 1/2 and 1 year old

= > And much more!

That’s what wholesaling real estate has done for her and her family!

How many of you want that?

AND Esi not only has a free valuable resource she’s giving ya below, she also has a BONUS giveaway (a *special* marketing piece she uses in her business to get the phone – in her words – “ringing off the hook!”)  BUT it’s only for the first 20 people who leave a comment. More on that in a moment.

Esi Benedict | Best and Brightest Women In Real Estate Investing

Watch the video below now with “Best and Brightest” Esi Benedict, aka Flipping Mom …

Wow! What a story!

Isn’t that AMAZING how your entire life can change in an instant?

Connect with “Best and Brightest” Esi Benedict

Would you like to be “in the know” with what’s going on with Esi both on a personal level and with her wholesaling adventures? If so, connect below …

Friend Up on Facebook

Follow on Twitter

Subscribe to YouTube Channel

Your FREE Real Estate Investing Resource Download

As you probably already know, each week you’ll receive an awesome resource (for FREE!) as part of the “Best and Brightest” series.

Esi put together a super cool download for ya with her top 10 flipping tools she uses day in, day out in her business.

Click the image below to grab your complimentary copy!

(if it doesn’t automatically download, right click the image and click “Save as…”)

A BIG thank you for Esi for sharing everything she has with us!

Now, the ball is back in your court. Time to get out there and TAKE MASSIVE ACTION!

PLUS, don’t forget! The first 20 of you who comment on this get Esi’s killer “yellow letter” marketing piece that gets her phone ringing off the hook :-)

See you soon,

~ Patrick

… aka P-Rid

P.S. – Here are the links to the series for you:

Julie Broad | Esi Benedict | Shae Bynes | Christina Mellott | Stephani Davis | Surprise Special Guest | Rachel Hernandez | Susan Lassiter-Lyons

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I grabbed dinner with Mark Walters recently at a real estate investing conference and had to whip out the Flip Cam. Mark shared a killer tip on finding wholesale buyers, and I had to get it with ya.

Sooooo, come join us as we enjoy some delicious crab legs and burritos :-)

Now … why didn’t I think of that before?? Great idea! Thanks for sharing Mark!

For more info on wholesaling real estate, check these resources out …

==> 10 Steps to Wholesaling Real Estate for Quick Cash

==> Free Wholesaling Form to Build Buyer’s List

==> Wholesaling 101 with Steph Davis from FlipthisWholesaler (plus free assignment contract!)

Alrighty, I’m outta here.

Off to da beach!

~ Patrick

… P-Rid

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Yep, pretty cool ehhh?

Gotta love it when a student makes money; especially when it’s his or her FIRST DEAL!

Check out this chain of emails between myself and a student of ours – self proclaimed surfer dude…  Justin Wilmot.

Isn’t that incredible?

To quote Justin, he said, “My life changed one hour ago and I am truly excited for the future. THANK YOU!”

And to top it all off, the day before Justin closed on his wholesale deal, he just returned from a trip to Costa Rica where he went to surf and donate school supplies to a small K-8 school.

Check out the pics …

Congrats on the deal Justin! May there be many more.

Oh yeah, one last thing … if you’re interested in learning about private money lending, Justin has some good info over on his website.

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Welcome … to Part 3 of the “How to Become a CIA” creative real estate investing series … Wholesaling 101 …

(if you’re new to the series, you may want to start with the introduction)

This week, wholesaling extraordinaire, Stephani Davis of Flip this Wholesaler is gonna teach you the basics to wholesaling real estate for quick cash.

But, before I let Stephani take it away … I’d like to tell you what I like most about wholesaling real estate …

3 Things I Love About Wholesaling Real Estate

1. Little to No Risk

2. Don’t Need Your Own Cash or Good Credit (see Stephani’s video below)

3. Fastest Way to Create Cash in the Biz

Learning how to wholesale real estate … developing the skills to successfully turn a contract in to cash … is one of the most empowering things you’ll ever experience.

Think about it …  you find a great deal, you contract it, you send out an email to your buyer’s list or you make a couple phone calls … and voila … you put $3K, $5K, maybe even $10K CASH in your pocket!

What would you do with an extra $10,000 this month?

… and you didn’t have to put anything at risk, didn’t have to sign your life away, didn’t have to empty your bank account … heck, you didn’t even have to fill out an application.

If Stephani … a 30 something bartender turned wholesaler can do it …. you can too!

Wholesaling 101 with Stephani Davis

Here’s what Stephani is gonna cover …

>> Nuts and Bolts of a Wholesaling Transaction

>> THE Most Important Aspect of any Wholesale Deal

>> What She Did to Get Her Phone Ringing Off the Hook with Motivated Sellers

>> How She Marketed the Crap Out of Her First Deal and Turned It Into Cold Hard Cash

>> And Some Other Cool Stuff

Check out the video below …

“How to Become a CIA” Action List

1. Download your free assignment contract … Yes, this is the exact same assignment contract that Stephani uses in her wholesaling biz.

2. Comment below with your questions, thoughts, and tips!

Stephani told me she is going to be checking back regularly to answer any of your questions … sooooo get your questions answered while you can …

3. Check out this article, 10 Easy Steps to Wholesaling Real Estate for Quick Cash … there are a bunch of links to other articles and resources in that article … make sure you click through and grab the free form for building your wholesaling buyer’s list …

And that concludes Part 3 … Wholesaling 101 …

A BIG thanks goes out to Stephani Davis of Flip this Wholesaler for putting together this week’s video and for giving us access to her assignment contract … THANKS Stephani … you’re awesome!

Here are the links to the rest of the series …

Intro | Part 1 | Part 2 | Part 4 | Part 5 | Part 6 | Part 7

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I jumped on the phone with one of my new students last week, and he had a question about wholesaling out of town deals. He said he had a motivated seller on his hands with plenty of equity . . .  BUT the property was out of state and he didn’t know what to do.

So what’s the best way to cash in on “out of town” deals?

Well, I would have to say wholesaling would be the easiest way to . . . I’ve broken the process down to six steps  so that you can make big money on properties that are “out of town” . . .  even if the property is a thousand miles away.

Got any questions? Toss ‘em in the comment area.

- Patrick

P.S. – Wholesaling is the best way to create quick cash investing in real estate… AND you don’t need cash or credit to do so.

I made $10,000 on my first wholesale deal when I was just 22 years old!

To learn more about how to wholesale, check out this FREE 7 day mini-course.

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Wholesaling real estate . . . the quickest way to fast cash in real estate investing. If you mastered the process of finding great deals, contracting them, and then selling them quickly to other investors . . . how would that change your life?

If you had the ability to create $5,000 or more whenever you felt like it, wouldn’t that be awesome? All without even sticking your neck out and risking much of anything . . . other than a small investment of time.

That’s what wholesaling real estate can do for you. It’s a low to no risk real estate investing strategy where you can pocket thousands of dollars in cash within a matter of days. This is especially true when you just assign the contract to your wholesale buyer rather than closing on the property and then reselling it.

Below, I’ve broken the process down for you . . . step by step . . . so that you can turn your real estate investing wholesaling efforts into fast cash in your pocket.

10 Easy Steps to Wholesaling Real Estate

1) Study “Why Most Beginners Will NEVER Make Money in Real Estate Investing” Video

I got the idea to put this resource together because I was teaching the exact same base of knowledge to all of our students when they first joined our program . . . and I started seeing patterns . . . patterns of where people were having trouble, what was holding them back, and what they needed to be successful.

Even if you’ve been investing for awhile, this video is well worth the hour you need to set aside to watch it.

Get access to the video Now!

2) Make Your Plan

Watching the video above will help you make your plans. You need to put together your educational plan, your marketing plan, and your real estate investing plan. Make sure that you include a deadline for every goal that you include in your plan. Deadlines get things done!

The 3 most important goals for wholesaling success are . . . when does your marketing plan kick off, when will you contract your first deal, and when will you close your first deal. Once you have these written down, break each down into actionable steps . . . that’s what it means to “make your plan.”

3) Build Your Buyer’s List

You want to have a wholesale buyer(s) who is ready, willing, and able to close as soon as you have a great deal contracted. And, it’s a lot easier than you may think.

There are tons of investors out there in every market that are constantly on the lookout for deals. Here’s an article that will help you out, How to Build Your Wholesale Buyer’s List.

Every time you speak with a potential wholesale buyer, you want to gather as much information as you can about what type of properties they are interested in, what price range, area, etc. Use our free form for building your wholesale buyer’s list to do so.

Remember, it’s not all about the size of your list . . . it’s about the quality of it. A few active serious real estate investors could be all that you need to sell your contracts fast for cash. But, it doesn’t hurt to continue to grow your list. The bigger and more responsive your list, the more money you’ll be able to fetch per deal.

4) Implement Marketing Plan

The overriding question in your mind at this stage should be, “How can get my phone ringing off the hook with seller leads?” That’s how to get on the fast track to wholesaling success!

A marketing plan consists of several leads generators that you consistently have in place and track the results of each. Marketing is all about testing! My first marketing plan included a “We Buy Houses” ad, bandit signs, and knocking on doors of people in foreclosure. As leads came in, we did more of what worked, and less of what didn’t, and continually tried new strategies to get the phone ringing off the hook.

Wanna know how to maximize the return on your marketing efforts? (it’s simple really . . . something I learned from my mentor when I first got started)

And how about a way to get free seller leads? Download the free professional “We Buy Houses” Craigslist ad Now!

5) Qualify Seller Leads

The same lead could come in to 2 different real estate investors . . . one of them dismisses the lead and the other asks good questions, qualifies the lead effectively, and makes several thousand dollars wholesaling it.

Learn how to effectively qualify a seller lead. And keep in mind, it’s not about you and your house buying services . . . it’s about asking good questions and crafting a deal that makes sense for everyone involved.

6) Negotiate Deal

One of the most costly mistakes you can make is thinking for other people. Typically with investors, more money is lost here than any other part of the deal. Make your offers based on your own criteria . . . not what you think other people will accept.

Defining the expectations of sellers is an important process that will save you tons of time and money. You want sellers to know that you’re in business to make a profit, you work with a professional company, you’re not the decision maker, you can close quickly with cash, amongst other things.

Check this advanced negotiating angle my partner Dusty uses . . . the higher authority angle with a twist. (there’s a great script you can use immediately too)

7) Contract Property

Until you have a signed contract, you’ve got nothing! When a seller is highly motivated, there is no time to waste. Contract the property as soon as possible.

And even when you get the contract, what you don’t want to happen is have it slip away because you didn’t protect it like you should have . . . which can happen to the best of them! Learn the secret to protecting your deals.

Since you will be wholesaling the property and assigning the contact, there are two things you’ll want to include . . . after your signature, write the words, “and/or assigns.” This explicitly states that you have the right to assign the contract. Also, in the special stipulations, make sure to say something about the fact that you are only obligated to close on the property if you find a suitable buyer.

8 ) Due Diligence

Three things you want to provide for your wholesale buyers . . . an estimate of repairs, comparable property information, and a title report.

Get a couple different contractors to give you estimates, a Realtor can help you put together a CMA (comparative market analysis), and get an attorney, title company, or title researcher to make sure the title is clean.

9) Assign Contract

This will most likely happen at closing (when your wholesale buyer closes on the property). Or that’s how I would make sure it happened if I was on the wholesale buyer end. As a wholesale buyer myself over the years, I paid the wholesaler at closing.

You can have your closing agent put together a simple assignment form for both parties to sign. And then it’s time to . . .

10) Celebrate!

Congratulations!!! You just successfully wholesaled your first property . . . and you know what . . . I bet you would say that it’s easier than you thought it would be! At least, that’s pretty much what every wholesaler that I know says. Now treat yourself to something special, or treat your significant other or best friend to a special night. You deserve it!

This is an extremely valuable skill to develop as a real estate investor. Once you go through the process, your mind is going to open up to an entire world of opportunities . . . think about it . . . you’ll be able to create $3K, $5K, even as much as $10K or more any time you want . . . just by wholesaling another deal.

The first time you do anything is the hardest. Each and every time after that it gets easier! Get out there and take action today!

Happy Investing!

- Patrick

P.S. – If you would like to take your wholesaling education to the next level, check out this FREE 7 day wholesaling mini-course. It’s a great resource and doesn’t cost you a dime :-)

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Wholesaling real estate is one of the hottest topics in real estate investing. We’ve been running a poll on the blog now for a little while, and it has consistently been the number two topic of interest that investors want to learn about . . . behind only financing strategies.

6 Advantages to Wholesaling Real Estate

= > Fastest way to create quick cash

= > Don’t have to deal with tenants or contractors (if you’ve never had to deal with this dynamic duo . . . let me tell you, you can drive yourself crazy dealing with these knuckle heads)

= > Allows you to make big money without cash or credit

= > There’s little to no risk . . . since you don’t even have to close (you can just assign contracts)

= > Don’t have to know very much about real estate investing as a whole to be successful at it

= >  And the list goes on!

2 Vital Components to Wholesaling Real Estate Success

1) Solid Marketing Plan

You must get leads pouring in from motivated sellers! . . . PERIOD! To be a successful wholesaler, you have to find good enough deals so that the investor who is buying the deal can make a big profit.

In order to do that, you need sellers calling you directly. That’s where you’ll be able to negotiate the best prices and terms. You don’t want to rely on agents and listed properties. That’s going about it the hard way.

2) Build Your Wholesale Real Estate Buyers List

Once you get a great deal under contract, you want to be able to unload it quickly. And you can do that by having a qualified list of investors . . . where you know exactly what each investor is looking for  . . . price range, area, type of property, profit/LTV needed to be a deal, how they finance their properties, and much more.

To help you build your wholesale buyers list, I’ve got a free form for you. Use this with every investor that you speak to so that you know exactly what they’re looking for. Then, when you get a great deal under contract, send the deal info to every investor on your list whose criteria matches up with your deal.

Click Here For Your Wholesale Real Estate Buyer Questionnaire

If you have any questions, toss ‘em in the comment area.

Happy Investing!

- Patrick

P.S. – If you want to take your wholesaling education to the next level, check out this FREE 7 day wholesaling mini-course. It’s a great resource and doesn’t cost you a dime!

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