How can you consistently make $96k per week wholesaling houses?
How can investors scale to this level of income faster, and without having to work on their wholesaling businesses more than a few hours a week? How can they do it sustainably?
Automating Your Real Estate Wholesaling Business
A new video blog episode from San Diego based Todd Toback reveals his secret to banking $96,000 in a week, from just 4 real estate deals.
Some wholesaler might already be making 10x this amount per month. But no matter what you are now, and where you want to go with your wholesaling business, keeping up this type of deal flow requires doing things differently to the average Joe.
While Todd may certainly have plenty of talent, and experience in wholesaling. The wisdom he is most keen to share is that his greatest success has come when empowering his team to do their best work. “Hire great, get out of their way.”
This is more than simply delegating. And far different than micro-managing.
Empower, trust, and let them go to work. The results might surprise you.
Todd says that his team brought together almost $100k in profit from wholesale deals in a week. Just by letting them do their thing. Do automate. Do create systems. But then get out of the way, and let it work.
4 Tips for Building Your Wholesaling Dream Team
Hire the Best
Those real estate businesses with the best talent will come out on top. Period.
Invest in Building Team Relationships
If you want loyalty, hyper-productivity, and awesome results for your team – invest in the relationship. The real estate industry is booming and good talent has plenty of options. Internal relations are as critical as external ones. Probably more so. These are the people that will generate the most leads for you, and turn those leads into dollars.
Not everyone wants to have regular meetings, or team cheer parties. Especially in this remote working era. However, empowering them to their best work, showing appreciation, being a reliable client-employer that pays promptly and provides consistent work, and enabling them to be a part of something bigger can all go a long way.
Leverage Your Team’s Word of Mouth Power
Bestselling author and revered marketer Seth Godin says most brands and independent professionals completely miss the boat when it comes to word of mouth. He says that referrals don’t happen because the individuals and organizations we hope to share just don’t have the motivation. And that those hoping for referrals aren’t putting enough thought into providing the right motivation and environment to foster more personal referrals.
Word of mouth marketing is some of the best. Yet, too many wholesalers fail to enroll even those closest to them, and those that have the most to benefit – their own teams. They should be sharing, and they should be motivated to make it a success - if they are proud of the work you are empowering them to do, and they are confident in your intentions and ability to serve their referrals well.
Never Let Them Go
Once you have found great talent, never let them go!
Summing it Up…
Refuse to give up. Wholesaling houses isn’t hard. Especially with the current market; inventory availability, appreciation, and best transactional funding. But, it can be lonely. It can be easy to be distracted, when you try to do it alone.
If you want to go fast at the beginning, it’s okay to go alone. But if you want to go far - go together. “Teamwork makes the dream work.”
Authored by Best Transaction Funding BestTransactionFunding.com is the leading source of transactional funding and hard money loans for real estate wholesalers in the US, where 100% financing, and saying “Yes” is what we love doing all day long.
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