🏠

Comprehensive Guide to Wholesale Real Estate

May 31, 2025

Wholesale Real Estate Guide 2025

Introduction

  • Free course on wholesale real estate
  • Information used to close seven-figure fees at age 23
  • Full step-by-step guide for beginners
  • Covers generating leads, signing contracts, finding cash buyers, and working with title companies
  • Over 2 hours of in-depth training provided for free
  • Course aims to be cost-effective and fast-paced

Software Stack

Deal Machine

  • All-in-one platform for beginners
  • Includes skip tracing, driving for dollars, task management, CRM, and list pulling
  • Costs $100/month

Mojo Dialer

  • Recommended dialer tool costing $150/month
  • Calls three people simultaneously

DocuSign

  • For getting contracts signed electronically
  • Useful for consistent volume and out-of-state transactions

Finding Properties

Market Selection

  • Identify high-crime, low-income areas with populations over 500,000
  • Use Google to check population
  • Use crimegrade.org and affordablehousing.com for crime and income data

Property List Building

  • Free Method: Driving for Dollars
    • Physically or virtually identify distressed properties
  • Paid Method: Buying Lists
    • Use services like Deal Machine or skip tracing tocom
    • Filters: absentee owners, high equity, residential properties

Generating Leads

Free Methods

  • Cold calling is highlighted as cost-effective
  • Script involves introduction, setting the stage, probing for motivation

Paid Methods

  • Triple line dialers ($150/month)
  • Cold caller VAs ($100/month)

Making Offers

  • Process of determining what to offer the seller and sell to a buyer
  • Identifying property pockets using Zillow or Redfin
  • Reviewing sold comparables and active listings

Contracts

Purchase and Sale Contract

  • Outlines purchase price, earnest money, closing date, inspection period

Assignment Contract

  • Transfers obligations to end buyer

Finding Cash Buyers

  • Use Zillow or Redfin
  • Identify recently sold or as-is properties

Title Company Coordination

  • Acts as a referee for deals
  • Clear title and coordinate between buyer and seller

Scaling the Business

Phase 1

  • $0 to $30,000/month as a one-man operation

Phase 2

  • $30,000 to $50,000/month
  • Hiring first marketing assistant

Phase 3

  • $50,000 to $75,000/month
  • Hiring first acquisition agent

Phase 4

  • $75,000 to $100,000/month
  • Hiring disposition agent

Key Takeaways

  • Importance of setting the frame and probing for motivation
  • Importance of follow-up and nurturing leads
  • Building a motivated team for business scaling
  • Using tools and software to streamline processes
  • Effective communication and negotiation skills

Conclusion

  • Recap of the course and what's covered
  • Importance of consistent action and patience in building a successful wholesale real estate business
  • Encouragement to utilize the free course for further learning and development