Wealthy Investor Podcast - Nationwide Wholesaling with Nick Perry

Introduction

• Podcast focused on flippers, wholesalers, and real estate entrepreneurs.
• Guest: Nick Perry, achieved $6 million in wholesale fees last year.

Key Strategies for Nationwide Wholesaling

• Marketing Strategy:

  • Inbound Marketing: Focus on Pay-Per-Click (PPC) marketing.
  • No outbound methods such as cold calling, direct mail, or texting.
  • Lead to contract ratio: 1 out of 15 leads turns into a contract.
  • Average deal size: $24,000 to $25,000.
  • Cost per lead: $50 to $60.
  • Closed about 240 deals last year.
  • 50% deals wholesaling, 40% novations, remaining rentals or flips.

• Operations Strategy:

  • Relocating office from Austin to Scottsdale, Arizona.
  • Experimenting with virtual team members from outside the U.S.
  • Goal to reduce labor cost from 39-41% to below 15%.
  • Hybrid model with executives in-office and virtual sales organization.

Financials and Metrics

• Last year's gross: $6 million, this year projected: $4.8 million.
• Net margin of 32%, industry standard: 30-40%.
• Focus on bottom line revenue, not just top line.

Marketing Deep Dive

• PPC Campaigns:

  • Cost per lead should be under $100.
  • Cost per click under $10.
  • Use max clicks strategy, specifying max daily spend and max cost per click.
  • Types of PPC campaigns: Search, Performance Max, YouTube.

• Performance Metrics:

  • One out of every 10 clicks should convert to a lead.
  • Use Google Page Speed Insights to ensure fast website loading time.
  • Optimize website for conversions: form and phone number visible above the fold.

Acquisitions and Team Structure

• Evaluating sales performance:

  • Monitor activity, contact rate, and offer submissions.
  • Key KPIs: Lead to contract, average deal size, close rate.

• Sales Team:

  • 9-10 salespeople, with a mix of local and virtual team members.
  • Virtual team members reduce costs significantly.
  • Hiring criteria: Successful sales experience, not necessarily real estate experience.

Personal Story and Background

• Began with no money, worked at Indeed while building real estate business.
• Overcame personal and financial challenges, like a false divorce claim.
• Emphasizes hard work, commitment, and continuous personal development.

Personal Development and Faith

• Strong focus on personal development through books and education.
• Invested over $1 million in personal education.
• Faith plays a major role in life decisions, daily gratitude, and prayer.

Closing Thoughts

• Successful wholesaling requires dedication, understanding marketing, and effective sales techniques.
• Highlighted importance of faith and personal growth in achieving success.