wholesaling mentor

Alex Pardo’s entrepreneurial life started by wholesaling baseball cards as a kid, but he got distracted by checking all of the boxes for things he “should” do. After college, he took on a corporate job, but it wasn’t long before he realized that he didn’t want to be chained to the W-2 life forever. For him, one of his biggest fears was that he’d look back in the past and regret what could have been.

As Alex so perfectly puts it, “A salary is a ticket to forego your dreams”. That’s when he started to look into real estate as a side plan to escape corporate life. Alex started scaling up his business, but then he realized that that was not the direction he wanted to go into. As you scale, you need more people to keep up with the volume, and then your overhead rises.

He was no longer the one talking to buyers and sellers. He was managing people, and he didn’t love it. Pretty soon Alex felt like God was tapping him on the shoulder to do something different. And part of that something different looked like making more money by scaling down.

Now, in addition to his smaller team, Alex found his passion in helping entrepreneurs get clarity on their vision for their business. He runs an exclusive mastermind named Ascend for entrepreneurs who are serious about building a life around their business. If spending more time with your family sounds like the kind of lifestyle you’re looking for, check out Alex’s podcast Flip Empire.

What's Inside:

• How Alex makes more money by doing fewer deals with a smaller team.
• While scaling down, Alex found that he was passionate about helping other entrepreneurs make that same pivot into living their best life. 
• Why I believe that 80% of what we do is grounded in our mindset.

How can you become financially independent in the nonprofit world? And then, what if you’re on the other side of the world? Don’t get confused as you listen to Josh Howard share how his wholesaling business supports his nonprofit Central India Christian Mission. Josh lives in India, but he invests in the Indianapolis, Indiana market, which is sometimes referred to as just Indy.

In the middle of last year, Josh could see that his work in India would be better supported if he could make more money, but he didn’t want to work a full-time job and a full-time nonprofit job. He partnered with his brother-in-law and decided on a market, but their beginning was just chaotic. They had some small success, but they were dealing with a broken system.

Additionally, if sellers called him, the time difference might mean that he was answering the phone at 3 am. Josh needed to have marketing in place that accommodated his time change and his distance from the market. Hear how we built a system for him that helped him start hitting $25,000 months just six months after he began.

If you don’t know where to start, “Keep taking action and taking the next step”, says Josh. If you’re interested in JVing with Josh in the Indianapolis market, or you’re interested in his nonprofit work, you can reach out to him at: JHoward111@icloud.com.

What's Inside:

• Why Josh chose the Indianapolis market, and how that made virtual wholesaling there easier.
• Turning to wholesaling let Josh support the nonprofit work he’s passionate about.
• An international time change is challenging when dealing with sellers in the US, but Josh made it work.

Technology may not be your strong suit. And if that's the case, then the idea of getting a system into place might freak you out. I completely get that, but that’s why you absolutely must have a system in place. Steve and Coco, some of my most popular guests, are the poster children for how having a system in place helps you play to your strengths.

When I first started working with Steve and Coco, you could just see that Steve wasn’t as into real estate investing as Coco. And he was absolutely convinced that it just wasn’t going to work. I see this a lot when an investor is trying to run their business like someone else, and I knew that if we could build the business around Steve’s ability to chat up anyone at any time, then they’d be able to watch their business take off.

We spent most of 2019 getting Steve and Coco’s system in place, and in 2020 they were able to build out three additional teams. We’re only a month into 2021, and they’ve already gotten five contracts. Now that they’ve gotten used to building a team on a smaller scale, they’ll be able to replicate it on a larger scale.

And you can absolutely hear the excitement in Steve’s voice when he talks about his wholesaling business. He loves what he does. If you want to buy or sell in Ohio, Steve and Coco are moving properties and they’d love to connect with you. Send them an email at CCBPropertySolutions@gmail.com.

What's Inside:

• By ignoring everything that Steve can’t or won’t do, we were able to build a system that supports the one thing he excels at: talking.
• Why hiring an admin VA has been a game-changer for Coco and Steve.
• Besides outsourcing their weaknesses, Coco and Steve have outsourced their lower dollar activities so that they can focus on getting the deals over the finish line.
• Don’t get stuck on all of the “Nos” you’re hearing.

With a couple of different marketing methods, Kat and Bill are trying to figure out the best approach for finding leads in the Nashville, Tennessee market. One of their current favorite ways to find sellers is by scraping Zillow for leads, but it takes so long that it’s slowing them down.

Kat and Bill’s problem is a common one that beginning real estate investors run into. Do you have more time or money? And if you spend all of your time on activities that have a low rate of return, then how can you get to the point where every activity is yielding a high rate of return? I share some strategies with Kat and Bill to help them reduce the amount of time they’re currently wasting on marketing.

When should you make phone calls? You know what I’m going to tell you; whenever you can, you should pick up the phone. Stop looking for excuses to put artificial boundaries around the work you can do. You can talk yourself out of every time slot if you give yourself an out.

A little apprehensive about talking on the phone to strangers and asking them questions about their property, I give Bill a pep talk about how easy it can be to have a normal conversation that gives you information that you need to know. Figuring out a seller’s situation is going to be the key to help you position an offer that gets them interested in selling to you.

If you’re at the beginning of your investor journey, and you need some more eyes on your business system, send me a message. I’d love to help figure out how you can plug the holes in your marketing system so that you can turn yourself into an efficient marketing machine.

What’s Inside:

• How to increase your VA’s efficiency by working with them strategically.
• Get more confident talking about the price and making offers with my strategies.
• The absolute best time to make phone calls to reach the most receptive sellers. 
  
  

I want you to draw three columns on a piece and paper and then ask yourself: “Where am I right now? What kind of headspace am I living in?” I want you to think about your goals, your job, your family, and everything you’ve got going on right now and write it down in one column on a piece of paper.

Then, I want you to think about your dream life. Where do you want to be? Where do you see yourself in a few years? I want you to write down all of your plans in the third column, and I want you to dream big.

You’ll see that there’s still an empty middle column. That blank space is everything that has to happen to move you from the first column to the third column. I’m going to talk about the systems, partners, and teams that you need to put in place to move towards your goal.

There is no one-size-fits-all real estate investor model. You need to find out which real estate method works for you, whether that’s fix and flip, wholesaling, BRRRRs, rehabbing, owner-financed deals, or whatever. The sky’s the limit!

I’m going to share some of my solutions for my clients that address their specific needs while still helping them succeed with their real estate goals so that you can see just how individual real estate investing solutions can be for your life.

What's Inside:

• What kind of model should you follow in your real estate business?
• The 2021 phrase of the year should be “Done is the new perfect”.
• It’s time to stop doing the same thing over and over again while expecting a different result.
• The systems and processes I set up with my coaching clients that are the key to their success are as varied as their real estate goals.

Some people come into this business to create a job for themselves. They’re out there everyday working this business just like they did when they had a W-2. If this is you, I suggest you take a step back and ask yourself: what are you actually trying to do?

Create a vision for you and get your foundations down so that you can prepare to scale. The foundations we put in place for your business will be determined by the vision you have for the kind of real estate life you want to live. But you can’t scale until you’ve got these things in place.

When it comes time to hire, you’ll be adding VAs, assistants, acquisition, and disposition positions to your team. But you don’t need or want these new hires all at once. I like to use a process I call “feathering” to slowly add in and train these new team members so that your expectations are met or exceeded.

Stop working in your business, and start working on your business. Putting these systems in place is going to increase your productivity and allow you to move into other markets, all without continuing to put in 90-hour work weeks.

If you have a real estate question or something you’d like me to talk about, send your podcast suggestions to support@reinetwork.com.

What's Inside:

• Don’t get overwhelmed; focus on one action at a time and move toward progress.
• How to know when you’re ready for another market.
• Who should take on the hot or warm leads in your team?

Even though I offer a coaching program, I know that some of you don’t need a coach. What you really need is someone to help you set up your systems so that you can plug yourself into it and take off.

I’m taking half of what I do for my one-on-one clients and offering it as a standalone program. If you’re looking for a better system or any system at all, let’s connect. We can hash out where you are and where you want to go, so I can help you fill in the missing pieces to get your real estate business moving along.

I’m going to ask you questions like:

• What is your situation?
• Are you overwhelmed?
• Are you stuck somewhere?
• What are you having trouble with?

And we’re going to work together to get you unstuck. Make sure you like and subscribe for more of my current deals. And be sure to check out my new website for building out a real estate system.

What's Inside:

• We’re going to fill in the gap in the middle of where you are and where you want to be with a system.
• How my new website gives you personalized one-on-one attention to give your business a boost.
• Why a system will help you scale up faster.

What is it that you want your life to look like? What’s your ultimate outcome? When you have this vision fixed in your mind, it’ll help you push through the mental barriers you and maybe even the people around you will try to throw up constantly. Deciding on your ultimate “why” is also going to help you fix on a strategy that moves you toward your goals.

Some real estate investors want that huge team all set up in a swanky office, and others want to stay lean and mean throughout their whole careers. What you decide on is totally fine, but it’s going to influence your real estate investing strategy. Teams build different portfolios than a one-man crew.

Do you want to be a buy and hold investor? Maybe a fix and flipper? Or some other flavor of real estate investor? No matter what you decide, there are two questions that every real estate investor needs to ask and answer for themselves:

1. What is your “why”?
2. What is your exit strategy?

In the beginning, you’ll need to decide if you have more time or money. Because whatever you have more of is going to help you determine your strategy too. When we get down deep in the trenches of real estate, we have to have a solid hold on our “why” so that we can make decisions that help us build the kind of life we want.

What's Inside:

• How to match up your marketing with your real estate investing strategy.
• If you have more time than money, you’ll have to adjust your marketing.
• Having a solid “why” is going to keep you going when things are tough.

My coaching client Brian Blanders hopped on a call to talk to me about his new virtual market. After realizing that his own market in Utah was just too high to make any sense, he turned to his hometown market in Tulsa, Oklahoma, and had to create a partnership with local folks to make his wholesaling business viable.

Your goal is to find motivated sellers, but your seller’s particular motivations are going to affect the kind of deal they agree to. Listen to how one of the four pillars of a seller’s motivations dramatically affected the negotiations for Brian’s latest property, and how he changes his approach to make the deal happen. In terms of negotiations, you follow down a path that makes sense, until it doesn’t. And figuring out your seller’s motivation is key in finding the right path.

When is it worth doing a flip versus doing a wholetail deal? Brian had to ask himself that question when he realized that he couldn’t simply paint the house he’d just purchased. As you know, I’m a huge fan of virtual wholesaling, but deals aren’t the only thing that can be managed remotely. When Brian had to change his plans, he had to learn how to manage his team and their fix and flip from several states away.

Flexibility, creative financing, and a huge growth mindset really helped Brian navigate his first deal. We’re going to work more closely together to put better systems in place so that no matter where his next deal is, he’ll be able to provide at least one option that a seller can’t resist.

What's Inside:

• What to look for in your boots-on-the-ground person.
• What’s the difference between flipping and wholesaling?
• How Brian chose his virtual wholesaling market, and why he didn’t stay local.

Creating your best life begins with designing your real estate business around your lifestyle, but you can’t build out a broken system. So today I’m going to share some of the strategies I’ve used to create a virtual wholesaling business that lets me travel and live my best life while still making money.

One of the most amazing benefits about virtual wholesaling is that you never need to visit the properties that you’re purchasing. In fact, I’ve visited less than five properties in my entire wholesaling career. I couldn’t tell you how much a roof costs or how many repairs need to be done to a house to get it ready to resell, but that’s not a problem because that’s what I have crews for.

Your four concerns with every property should be the motivation of the seller, the timeline, the situation the seller is in, and the condition of the property. Once you figure out those four elements, deal flow will come from that.

Automation and delegation. We throw these terms around all of the time. I’m going to lay out how automation and delegation make it easy to turn this business into a virtual one that you can work on no matter where you’re at in the United States or even the world.

What does financial freedom look like to you? Not only do I take time off to travel, I also schedule my work around golf outings and family trips and spending time with friends. Working backwards from where you want to be can help you establish a lifestyle business that meets your needs.

What's Inside:

• One of the biggest mind shifts is realizing that you aren’t going to the property.
• How big you want to build a virtual office is going to affect how you set up your business.
• In the process I teach my students, there’s one thing we never try to do.
• Stop thinking about deals, and start thinking about profit margins.

When you talk to sellers, you have to remember the number one rule about wholesaling: we’re solutions-oriented people. We’re trying to help people find solutions to their real estate problems. Orienting your thinking about finding solutions is really going to help you approach conversations with sellers in a positive way.

Before I’d even met Shaun Young, he’d managed to snag himself a fantastic sandwich lease option on a beautiful house in a gated community in Atlanta. But he didn’t have any systems in place to help him replicate that success! We’ve been able to work with him and help him improve his real estate business, but the truth is that his massive action taking has been a huge part of his success.

You’re going to love the sandwich lease option because it’s got that cash showing up in three different ways: cash upfront, cash flow, and cash on the back end. Shaun explains how his first sandwich lease option deal worked out for him, even after his first tenant-buyer forfeited her right to buy.

I love working with clients like Shaun who are gung-ho for real estate. And I love helping them make their company a little bit better by fine-tuning the rough parts. Check out Shaun’s book Adventures in Wholesaling that he wrote to help out other wholesalers.

If you loved this episode, share it and subscribe. Leave us a review and tell us what you thought. And if you’d like someone to look over your real estate business, connect with me or my partner Joe McCall. We’d love to talk with you and see if we would be a good fit for each other.

What's Inside:

• How Shaun’s inexperience ended up helping him out.
• My number one takeaway for you from this conversation.
• How Shaun used the sandwich lease option to make $60k over four years.

When you’re talking to a seller and you’re trying to understand what’s driving them to sell, while also waiting for just the right moment to make your offer, it’s pretty normal to make some mistakes. I’m going to help you to see what you need to look for in a seller, and give you some examples of how that might play out in conversation.

If there’s no motivation on the part of the seller, you need to get your offer out quickly. So, the first question is: What does a motivated seller look like? You need to consider:

1. The situation the seller is in.
2. The time frame the seller has.
3. The price that they want.
4. The condition that the property is in.

As you’re talking to the seller, you need to listen to what they need from this deal, relate their need back to your offer, and then make the offer.

What does that look like in action? I’m going to give you some examples to help you see how to position your offer to make it more attractive to the seller.

If you need a cheat sheet for how you or your virtual assistants can do a better job talking to sellers, check out my free lead sheet on my website. And don’t forget to like and subscribe to my YouTube channel so that you don’t miss an episode.

What's Inside:

• The most important part of sales isn't your offer.
• How to know when a seller is willing to take a tenant buyer offer.
• 4 ways to tell when a seller is truly motivated.
• How to position yourself in a conversation to make an offer that’s attractive to a seller.