CLOSED CAPTION BY YOUTUBE! be in a place called Stockton California working on a project here so still here
to here don't know when I'm back in Jersey but I'll keep you guys posted as
usual today I am on part 15 of smart wholesaling versus old old old school
wholesaling and today it's an in fact special one but before I get into that I
want to make sure that you know that they build on top of each other so you
want to make sure you go watch all the videos part 1 through 14 okay it's a 17
part series you need to watch all of this the reason why I'm sharing this
with you is swimming against the trend is gonna hurt your business it's gonna
hurt you if you're not feeling it yet if you haven't closed any deal in the past
30 days and you've closed the deal before
chances are it's already hurting you if you haven't closed the deal in the past
30 days maybe you're newbie then it's the right time to understand this and
build your business on the right foundation we listed wholesaling the way
you knew it is dead especially because of the strategies that has been taught
by their old-school gurus some of these old-school gurus are still gurus that
are doing business today but chances are you don't have the kind of marketing
budget that they have both mentally but also financially and also in terms of
time the only thing you can probably have as an edge over them it's time and
back in the day time wasn't good enough okay but today time is just as good as
money it's just a matter of understanding it as a resource and
knowing how to channel it properly so it's very very important for you to know
where you fall in any of this the sweet spot is always somewhere in between it's
not about having all the money or having all the time the sweet spots it's always
somewhere in between you know why because back in the days for a long time
the same strategies methods technologies would work for a long time but things
are evolving so fast and that's why within the sweet spot is always in
between so let me give you an example for example you can have all the money
in the world and you can say hey I could do all the marketing I want I could say
I send all the direct mails I want until I close the deal but the problem with
that is because there are new people coming on the scene every day the brand
new people that are coming into the real estate wholesaling every every day and
it's so easy for them to send that false letter and every time the bunch of was
sending a first letter you end up with 25 letters in the hands of your prospect
therefore confusing them therefore saying there's something shady going
always all of them offering to help me they know they're in pre-foreclosure
they know that their name end up on a list they know they have a vacant
property somewhere so how do you stand out and that's the difference between
the old-school wholesaler and the smart wholesaler how do you stand out and how
do we make sure you keep standing out not just a quick short term solution but
also how do you keep standing out long term okay so that's why I'm sharing this
spot this series with you I wanted to review that really quickly before I dive
into the last three parts of this series we have 15 16 17 more to go okay so 15
16 17 to go there's only three more of this series before we move on to other
things but again these are videos that you want to make sure you're watching
you're watching every single one of them go watch part 1 - 17 how do you find
them subscribe on this channel you will see them there right there on the first
page channel of the from part 1 all the way and and to be frank with you YouTube
will probably show you more of it as you consider to watch them okay so if I say
anything this video please don't forget to give me a thumbs up so let's go into
today's tip okay or let's go into today's quote so the old-school
wholesalers think think money okay they think money comes from most varicella
okay well the smart hotel is fully aware that money comes from one place from
people specifically buyers okay so let's talk before so
that's a quote of the day now how to how to perform a real estate
wholesaling let me do a quick review of that just in case you're brand new here
and or maybe you still need to hear that over and over again I find that some
people need to hear it over and over again before it makes sense
real estate wholesaling it's a very very simple model and this n is different
from a real ATO's business it seems similar you know when you look
at it from the workflow standpoint but it's different ballgame entirely okay
it's simple simply you getting out into the marketplace finding and identifying
motivated sellers okay not distressed properties okay this is the problem with
driving for Dallas driving for dollars only helps you identify distressed
properties but distressed properties by itself does not turn to a deal make
sense right you need someone to sell you the property you need up you need people
right so motivated sellers is basically what you're looking for not distressed
property so the idea of finding and identifying motivated sellers whatever
it takes for you to do that not just do one at a time but have a pipeline
because real estate wholesaling is a business and when you are dependent on
one particular person or deal you will for shorts you will set yourself up for
failure you put in that deal on a pedestal and the result of that is
typically failure and disappointment and that disappointment will spiral out and
flow out into the rest of your business that's why you need a pipeline a
pipeline will keep you motivated you understand that it's a game it's a
business and sometimes some things will fall through and when they fall through
it doesn't matter because you have choices you have options that's why you
must learn that this is a numbers game for every individual you encounter your
prospect of course you treat them special you treat everyone equally with
respect and you try to help them solve whatever the problem is foreclosure
vacant properties or unhappy landlord are inherited unwanted in every time
from our father mother or somebody right right so all of that those are problems
you can solve but the bottom line here is you need to have a pipeline you need
to have a pipeline of people with similar you know similar problems you
can solve coming through okay so you can have options and choices but anyway the
idea is to identify motivated sellers find and identify motivated sellers and
then offer them 65% of the after repair value of the subjects property and minus
the cost estimate cost of repair right so if that property was worth a hundred
thousand dollars on a good day in a market after repair when they say in a
good condition right with respect to the neighborhood of course right you don't
want to pay more than sixty five thousand dollars for the house if they
if you find out in your quick research and go into the house that house needs
about ten thousand dollars of work now your offer is gonna be less that 10
thousand dollars so now 65 minus ten and you have fifty five thousand dollars
okay and basically you want to turn around and offer that particular
contract you put the house on that contract for $55,000 so you gotta get
them to agree to fifty five thousand dollars you gotta be okay with
negotiations now negotiations is actually a lot more easier and it can
come all the way down to zero is as far as a need for negotiation depending on
who you're targeting depending on how much choices you have depending on how
much you have in your pipeline but the bottom line is to get somebody to agree
to sell you their house for $55,000 you put that on that contract and you base
basically take that contract and you assign it to an end buyer for a fee is
called a cement fee and there are multiple different technical ways to do
that that's not really your responsibility that's a responsibility
of a lawyer your responsibility in this game is finding and identifying okay
sorry for the noise finding and identify those motivated sellers that are willing
to sell a property at sixty-five cents on a dollar or less okay excuse me let
me close that door all right just to make sure that we can hear each other
here all right so that's really so you find bias now
you need to find buyers that's another set of people you need to find because
without buyers no one is going to you know as a wholesaler you're not trying
to buy the property you're just trying to secure a deal for the bias of the
property so some people say well oh you know but are you not telling them to
know you're telling them the truth you're getting agreement agreed upon
first before you assign it to our real buyer your intentions is to still get
the deal closed and that makes this ethical okay it's to still serve the
need of the motivated seller because all they want is they need to get rid of
property and that makes that ethical so that's how a wholesaling works so there
are two types of people in that equation that you need to find motivated sellers
you need to find buyers now some gurus or selling cash buyers some gurus will
tell you they have all the cash buyers on their list but I'm gonna tell you
right now the worst thing you can do a game is dependent on one list okay or
any particular set of individual you need an ever-growing list of buyers so
you can have options so you don't set yourself up for failure so you don't set
yourself up for disappointment so you can have options okay the bigger the
better okay and these days in time and age right now
is the easiest thing to attract these two types of people and then build this
business okay attract them into a list of subscribers and then build that
business because again you need to build a list you need to build a media
business not a real estate business real estate just so happens to be the product
you need to build a real estate business so with that being said the code of the
day basically is something that I need you to understand the old-school
wholesalers think money comes from what's very sellers money doesn't come
from what's varicella obviously okay the property the product comes from with the
various sellers motivated sellers are people so that stands as people right so
there are three P's in any given business there's people sorry there's
product this process and there's people right so there's product and this
process and there's people that's product and it's a process to get the
product to the people the three piece right and basically the product for us
in real estate wholesaling the product comes from people as well motivated
sellers so you can replace that product with people okay so you have people
and people okay and bottom line is here as well
to that if you really understand leverage you understand the burden of
team team-building because if you try to do all of this by yourself right your
growth and your income with get stunted okay - stop it - aught it's a hero or
silly right and the idea here is to build an
unlimited income potential that's basically what you want to do it you
want to build a system all right so the process need the process in the middle
it still needs to be replaced with people because then you're building a
team yes some of that part of that it leverages machines automation okay we're
gonna talk all about that in the three pillars series okay but basically a
system but in order to apply leverage you need people you need all the people
so that while you're sleeping you can basically have people working for you
okay I'm doing I'm gonna give you an example right now for those of you that
watch this videos you're watching this video you're basically telling by the
watch time yes I'm giving you value and you're learning from this but by the
watch time as you're watching this video you're telling YouTube that's this guy
is saying something I need to hear and you're telling YouTube that is very
likely that other people who want to hear this and they will look at your
profile basically and they will find all the other users of YouTube with similar
profile and then we show this video to them and therefore the views on this
video increase so in other words I still have a team either you know it or not
that's helping me to spread the word and this world is set up that way you
already have down your 9 to 5 job your 95 job that's the owner of the company
at the top somewhere for most of you that have a that work for a private
company but they have this human man labor or manual I say no labor right you
have people right that are working for you you have a team because it's called
leverage because by the time you have 10 people on your team you now have 10 x 24
hours per day that's putting money in your pocket so the other day everyone is
translating transferring money transferring time into money they turn
the transferring time into equity ok he's becoming money in their pocket
so being understanding that you have to build a team at some point and have a
team is also part of that so we're gonna replace the P the process in the middle
let's replace that with people so we have people people people bottom line is
that you need people to run this business okay not necessarily real
estate okay now that's a real I said that's just a product okay it's the
product but the product comes from somewhere it comes from people okay
leverage across a leverage process in the middle that comes from people you
need people on your team you need machines as well too especially that's
we're going to need automation okay but even automation you're not gonna operate
every computer right like I have everyone in YouTube working for me right
now right literally for free because the world is really really changing as you
see okay and of course not exactly free people
pay for advertising on YouTube and that's how they get their money because
as I'm creating this content we're bringing attention to this part and
people get paid and YouTube allow also use the for free it all makes sense as
economics okay and there are people buyers the money the real money they be
the most instant money you can find in this business okay
trap from a traditional standpoint cuz I'm gonna teach you something else when
you download my book okay from a traditional standpoint the more system
money you're gonna find this business come from buyer without buyers your
moods varicella your distress properties are of no use you probably know that
already okay you probably if you're one of the few you've already put a house on
that contract and then you find out you're still stuck because you need a
buyer and a lot of the buyers are telling you that they're giving you like
a thousand different reasons why your deal is not a deal it's not your fault
it's just that most buyers and the buyers lists are gonna be full of it and
that's why you need to keep growing it so you don't put yourself in a position
where you're dependent on one person okay is that make sense so most hold
screw sellers host whoo-hoo sellers take money come from motivated sellers why
the smart home seller is fully aware that money comes from one place from
people specifically buyers okay that's very very important for you to
understand so if you're gonna build your business if you have the choice of going
after building a list or going after attractive motivated sellers
you have the choice of going after building a bias list right if everything
else was being equal right which one if you want to make money fast which one
would you rather go after bias you need to focus on the buyers okay because
there are deals in the game already there's a lot of people would use that
just can't close because everyone is dependent on the buyers that are not
willing to buy what's available okay so if you can learn a simple skill set to
build a buyer's list but if we use the same skill sets to attract motivated
sellers if that's what you choose to do if that's really how you understand the
game but the same skill if you acquire a simple skill to do that over and over
again without burning all your money on direct mailing without burning your time
on driving four dollars which doesn't create motivated sellers it only creates
distressed properties which you can download from the internet okay it's a
waste of time basically without knocking on doors because it's 2014 18 and beyond
nobody likes their door being knocked on by people that haven't called first even
if you're family right much less think about much less being a stranger and
you're there to take advantage of them it's not a good look okay it puts you in
a position where you're desperate and it makes the business not fun for you
eventually because you're gonna burn yourself up okay bandit signs there's
the most city's frown at that they don't like that on their own they're on the
poles in the street is dirty okay it's dirty they allow it for the politicians
because the politicians don't put it on the pole they put it in on a hanger on
the on the floor and pretty much the people that are cleaning the city can
easily pick that up and throw it in the garbage so in other words no no if you
want to do it like the politicians you can do that but you have to replace that
every time and that costs money it cost time where you can sit by a computer and
learn a few skill set and do the same thing in a way that you don't piss off
the government and you don't have people chasing after you with the $1,500
tickets how do I know because it happened to me before
okay there when I'm trying telling you something is because I've experienced it
before and it's not my idea of freedom to have people looking over my shoulder
and telling me that I'm doing something wrong I like freedom and I like to do
things ethically not just from my own
standpoint if the government say like that hanging on their pole I don't
want to have to deal with that okay and then the other one I said a direct
mailing knocking on doors bandit signs : right :
I have some videos on this channel where I was cold calling and basically you
could go watch this video and see the result it's a very exciting process that
someone said oh yeah at some point if you just keep going you get some deal
and you're saying what if you do things in a little bit more efficient way all
of these strategies I shared with you can work at some point okay maybe
they'll work 15 days time maybe 15 years time maybe in 15 decades I don't know
but they can work because they worked in the past okay
however that's not the question is that the most efficient use of your time is
really what you want to be concerned about okay is that the most efficient
use of your time is the real question could you do things a little bit faster
a lot more effectively right could you use that time you're spending driving
four dollars to create a lot more exposures on the Internet in the long
run and even in the in the short term in the long term and a short time all right
so this are this skills I'm talking about is very very simple it's modern
age marketing and basically it follows the attention of the people clearly the
attention of the is not at their doors they're not interested in you knocking
on their doors clearly when you're driving for dollars you're not really
talking to people you're just writing them addresses that you can find on the
internet it's it's a waste of time direct mailing is expensive because it's
an old-school dinosaur way of marketing and it's not designed for people in the
digital age it's just not okay there are better ways to not only get
the attention you need for your offers but also do it in a more cost effective
way and bandit signs you already know why why would you want the government
looking oh why would you want someone like chasing after you would a ticket
that's makes no sense you know and then you sit around on the streets and then
you know you're trying to see if there's a police coming it's just not a fun
thing to do and the rest of it okay bottom line is that you know you know
that the whole school strategies are pretty much dead because not only does
it consume too much of you they're not working as they used to what everyone
else is doing them okay and if there's over
the same strategies guess what happens to that that's a law of economics it
diminishes the value diminishes okay so basically that's what I wanted to share
with you today if you want to learn that skill we want to get a little further
into this but I'll suggest you do is go download my books is absolutely for free
it's called Empire lifestyle secrets go download it right now at my Empire
procom that's where you want to go if I said anything that made any sense to you
during this video click on the thumbs up I will really appreciate that it to let
YouTube know that you love it and share with other people I really appreciate
that also if you have any comments contributions questions please share
them in the comment box below I would love to engage you if you know anybody
that will love this video click Share and share to your social media wall you
can share by email directly to anyone and thank you so much for hanging out
with me today hopefully you've been enlightened and educated and I will see
you on the next one and peace
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