Wholesaling Homes 2.0: Tactics for Forcing Dramatic Growth
How can you take you’re your real estate wholesaling business from 0-60 in the next 60 days?
Regardless of whether you are just starting out flipping houses, are consistently turning over 4 houses a month or are churning out 100 wholesale deals a month there is plenty of room to grow. There has never been a better time to crank it up either.
The Time is Ripe
This is the time to do it. The stars are perfectly aligned for increasing volume and upping your real estate investment business’ position in the market with the optimal combination of trends in play. Demand and confidence are up, the timing in the housing cycle is ideal and there is plenty of distressed inventory, twined with rising home prices. The time to position yourself and your wholesaling business to reap the maximum rewards is now; ahead of expected surge in summer activity and influx of international capital.
So how do you take it to the next level quickly?
What does it require to double or triple the number of homes you are flipping each month? You’ll need more property inventory, more home buyers, more funding to make sure acquisitions aren’t hampered and streamlined systems.
Tips for Lining Up More Inventory in a Hot Market
It’s no secret that as the market is heating up, so is the competition over homes in many markets. So avoid the mayhem, avoid the stress and overpaying by leapfrogging the competition to find high volumes of deals.
Look to:
- Non-performing mortgage notes
- Construction REOs
- Tap into mounting shadow inventory with bank contacts
- Build an extensive referral partner network for tapping into off market properties
Grow your referral network quickly by using social media and organizing your own networking events and go beyond Realtors and loan officers to bank managers, attorneys, insurance agents, financial planners and counselors.
Tips for Attracting More Buyers in Bulk
Everyone in the world would like to own a slice of American real estate today, it’s just a matter of making sure they come to you, and not the competition.
So how to you lock them in fast and in large numbers?
- Tap into the social networks of online influencers
- Collaborate on marketing efforts with local business owners
- Market to the targeted databases of subscribers magazines and blogs control
- Reach out to foreign affiliates through chambers of commerce and Realtor groups
- Launch a robust Google Adwords campaign for all the traffic and leads you can handle on demand
Tips for Finding More Funding
Having all the buyers and sellers in the world is great but even the most affluent investors need to stay liquid and will want to use leverage to ensure that they can capitalize on all of the opportunities available.
Conventional bank loans just won’t work for this strategy and the speed at which you need to operate.
Instead look for funding via:
- Commercial mortgage lenders for bridge and blanket loans
- Transactional funding through firms like Best Transaction Funding
- Business loans
- Private lenders through brokers or networking
The Key to Success…
Take the time to stop and systemize and automate everything now. Take a week off if you need to, or hire an assistant to do it. You simply can’t afford hiccups to derail your momentum later, or a lack of capacity to hold you back. Not having deals is one thing, but worse is having the above 3 factors lined up, and not being able to handle the deal flow.
