Wholesale Real Estate – Free Class on Getting started in Wholesale Real Estate. You can wholesale real estate virtually or in-person. I prefer digitally since it gives you more freedom. Virtual wholesaling course by Wholesale To Millions and includes the real estate marketing / wholesale contracts course.
I was born and raised in Houston, TX with no brothers or sisters, just with my mother. After a conflicted childhood (that I’m thankful for today) I decided to move to a different part of Texas. This allowed me to start my own life at just 14 years old.
With not a dime in my pocket I’m proud to say I decided well when choose to use my abilities to sale with the right product. It was a path full of struggles, full of failures, but also a blessed path that brought me to where I am today.
My intention is to use all the good stuff I’ve learn from the past 15 years and share them with you. And guide you to success using a shortcut so you can avoid making the mistakes I already made. Just start having the life you want, the life you deserve starting now!
In addition to our virtual education platform, we have been also working in creating a strong system. For this, we collected thousands of data from sources all over the country for you to filter, download and start using. That’s right! You can start working on your texts, your calls, you mail after a couple of minutes here!
And speaking of that, we can also show you how to call thousands of leads in just a couple of hours. We also teach you how to use mass text software to send as many texts as you want with just some few clicks!
When you see you get your first deal after a few days, you’re going to be super exited! I want you to learn, to work smart and continuously, to get a 6-figure income! Join me Getting started in Wholesale Real Estate!
EasyMassText.com is a service allowing mass text in bulk 250, 500, 1000, 2000, 5000, 10,000 at a click of a button. SMS marketing is one of the most effective lead generation strategies especially vs email marketing, since 93% of Text are opened vs 2-13% in email marketing tutorials.
EasyMassText.com is an amazing tool to mass text prospects. It’s easy to use and very convenient. You can upload lists to text from a variety of sources, including Facebook friends.
How to use Mass Texting Software EasyMassText
You can have access to our samples once you become a member. Just find a list of candidates and save it as a .CSV file. Before saving t, you can edit your list to add tags/categories that will be helpful to filter contacts when texting.
Click on Upload Customers and select the file afore mentioned.
Go to the Manage Customers tab. Filter your contacts to make sure you se the Type of Contact you want to send a text. Use categories/tags accordingly. Click the star icon to add them to your Favorites list.
Start texting
With no contact selected, click on Send Message, and type your text.
Create automatic fields using columns from your spreadsheet.
If you want to add an automatic field, insert it after the word with no space in between. For example, type “Hi,[First Name]…” and EasyMassText will change the field to the corresponding contact name. For this, you must make sure to have a clean list before you upload it to your system, so texts are sent smoothly, as personally written.
Select who is receiving your texts. It can go from all the contacts on the page, you can manually select a few, or let the system randomly select a certain amount.
Wholesale To Millions is the only school with a licensed, active real estate broker with 15 years of experience in Wholesale Real Estate Training. Max Maxwell is ok wholesaling real estate but wholesaling real estate can be easier and more prosperous using our system and techniques.
Virtual wholesaling and real estate wholesaling are the same. However, virtual allows you to do it from anywhere you are. So, you can do virtual wholesaling while traveling the world.
I’m going to give you a short cut to everything I learned for the past 15 years. In this Wholesale Real Estate Training, I’m presenting the strategies, the tools, the systems I created. I have been using them myself, and I know they will guide you to success.
Learn how to Wholesale Real Estate
Basically, this is the process to wholesale real estate:
Make thousands of calls in 2 hours using our system
Use our iron clad contract that protects you from being sued
Lock homes under contract
Use our list of investors to buy the contract from you
Resale the contract for a profit
REPEAT
I will show you how to do this and more. All the key points in the contract to get you covered, to protect your assets, to stay out of trouble. I’m sharing my tips, my secrets, EVERYTHING! Just sit there in front of your computer and let the journey begin.
To Wholesale Real Estate, you need to find homes to buy. You need a list of homeowners that are likely to sell soon. You will have to define your criteria that are easy to resale fast. Better start taking action! Learn How To Get Your First Wholesale Deal here
To Wholesale Real Estate, you need to find homes to buy. You must get a list of homeowners that are likely to sell soon. You will need to define your criteria that is easy to resale fast like a 3bed/2bath 1500+ sqft home on a standard size lot (5000sqft in Houston).
Our Wholesale-To-Millions Homeowner Finder
You can use our very own system. It took years for us to have all this data and this system for you. It is easy to use. Use it to determine what sales in your area, then locate those homes. Then refine that list with sellers who been in their home for 3+ years. Then keep refining till you get below 1000 contacts.
Find Leads In Less Than 3 Minutes
This system allowed you to find quality leads information in less than 3 minutes. After refining to meet your criteria, you can download this data in the format you prefer and add it to your CRM system.
Noelle Randall, Jerry Norton are training in virtual wholesaling. We are the only licensed brokers who can teach wholesale to millions lead generation training. Use our system at www.Wholesale-To-Millions.com or simply contact me I will send you a list to start you off.
How To Wholesale Real Estate Step By Step. Getting started wholesaling is a step where 70% of students get stumped. They just want everything to be perfect, they want to have the perfect script, they want to know all answers to objections, they want to know all aspects of the contract. I say FORGET all that… just get started!
Wholesaling sis the art of finding cheap properties with values 50-70% their market value, to get them under contract. Then, we can sell the rights to purchase that property to the end buyer. This person usually makes money fixing and flipping. WE, the wholesalers, make money by finding this type of great deals.
What Are The Stages on How To Wholesale Real Estate?
There are four basic stages with many sub-processes and tips within. Relax! It’s easier than you think. Nothing too big not to not be accomplished. And I’ll walk you all the way. These stages are:
Number 1: Finding Deals
We have discussed several ways to find deals. This is basically a marketing stage that includes: online marketing, direct mail, using social media, networking… But who are you directing your mailing to? For this, you can:
Get a contact list of homeowners that fit your criteria
Import that into a prospect system
Call them using a 3-line call systems
Text homeowners using a mass text personalized system like we have on our site.
Use a CRM system to keep up with clients. If you don’t have much money at least use google sheets or Excel.
Number 2: Dealing With The Seller
So, let’s say you found a deal. Now what?
Run a Comparable Market Analysis. This is done by finding comparable sales. What have similar properties in the area sold for?
Make an offer. Decide what the property is worth considering the results of your CMA and the After Repair Value (ARV). Normally, wholesaler’s offer is 50-70% the market value for that property.
Submit the contract. If the seller accepts your offer, you must contact your closing agent (attorney or title company) and submit the contract to them.
Along this stage, always remember:
Don’t be rude to homeowners who are rude to you. Beat them up with KINDNESS. You can win folks over with time.
Follow up is key
Number 3: Find A Buyer
Like finding a deal, you will have to run a great marketing strategy to find a buyer. For instance, you can post the property online, use your network and alliances. You may also agree with a partner to ease the process by bringing the house to the deal and your partner bringing the buyer.
Number 4: Deal With The Buyer
Proceed to the agreement. This is the process to transfer the right to purchase the property. This can be done either by using an assignment agreement (most common) or double closing.
The closing. This is probably the phase where you must work the most on. You as the middleman must ensure everyone else is communicating and doing their part. But in the end, you’ll have your juicy commission.
Final Tips about How To Wholesale Real Estate
Use a sales contract that is written to benefit YOU, “The Wholesaler / Buyer”
Keep following up with any homeowners that may have an interest in selling. It takes 7-10 calls to convert a lead.
KEEP FOLLOWING UP!!! This is the Key To Real Estate Sales & Sales in General
This is a Guide to writing Wholesale Real Estate Contract that benefits/protects the Wholesaler (BUYER). It is written like an attorney would write it to protect the client (YOU) from the contract loopholes.Wholesale to millions is for all levels of investors, wholesalers, and even homeowners. No license required to learn.
The Contract is the backbone of Wholesaling. It is the Engine of Your Car. If it is not right you can lose the deal, lose money, and end up in a lawsuit.
Discover The Wholesale Contract Loopholes
We already discussed how to fill out a wholesale contract template. Now, we are going to give a closer look at the loopholes in the contract. These are ways to get you out of the contract or to save you from losing money due to last-minute changes.
Title Commitment
This must be given to you (I usually put) 20 days after the title company receives a copy of the contract.
The Survey Clause
Within 10 days after the Effective Date of this contract, the Seller shall furnish to the Buyer and the Title Company the Seller’s existing Survey of the Property and a Residential Real Property Affidavit. Therefore, if the seller fails, the buyer may terminate this contract and the earnest money will be refunded to the buyer.
Objections
Similarly, you have 10 days after receiving the title commitment to get out of the contract based on failure with schedule A, B or C. This is another option to get your earnest money back.
Property Conditions
Under the Property Conditions clause, always select the option that says “Buyer hasn’t received the Notice” in the Seller’s Disclosure Notice section. You should receive this notice. If you don’t, however, you can terminate the contract at any time prior to the closing. Consequently, the earnest money will be refunded to the Buyer.
Acceptance Of Property Condition
Neither party has to pay for lender required repairs if the parties do not agree to pay for these repairs or treatments, or if they exceed 5% of the sales price. The buyer can terminate the contract and the earnest money will be refunded to the buyer.
Broker’s Fees
Salad paint all if any brokers fees if applicable, not the buyer
Special Provisions
Yes, this section to disclose any fact that hasn’t been declared previously throughout the contract, such as specific repair agreed, license holder information. In case you are getting an FHA loan you should state a buyer’s expenses amount that can go up to 3% of the sales price. In case you are using a hard money loan you can ignore this section.
Termination Option
This plus allows you to get yourself out of a contract for any reason and recover your earnest money within 10 days after the effective date. In case you want to do so, you must send a termination notification to the seller within the option period.
Proration
This clause states that the seller will everything prorated and up to date when by the execution day.
Today we learn about how to find wholesale real estate deals. Finding wholesale real estate deals is actually a form of marketing and advertising. But I understand, when first getting started you must watch every dollar to get your first wholesale deal. So today, I will teach you how to find properties at wholesale real estate value very cheap. Learn more here.
This training is for real estate Wholesalers, Investors, Realtors, Brokers, and basically anyone who wants to find a house dirt cheap. In this course today we will talk about how to effectively place your signs, developing and purchasing buyers list, developing & purchasing sellers list, importing those list into a multi-line professional caller. Cold Calling real estate wholesaling is a top priority for you every day.
How To Find Real Estate Wholesale Deals?
Now that you know what wholesaling is, that you like the idea and want to get stated ASAP, the first question you do to yourself is How I Find These Deals?
Check Out Our To-Buy List for Wholesaling
You can start by buying some of Our Contact Lists and add that data to your system. We already did a big, heavy work for you and collected contact information from sellers in many areas.
Our sellers list includes name, contact info, house, and neighborhood information.
You can also get an Expired or For Sale By Owners list.
People In-Need list is built with contact info from people that may be urgently looking for money. How can you identify them? Using water disconnected notices, bankruptcy files, foreclosure notices, tax in default.
Partnering with someone in your area will help you save money by splitting the contact list cost. You will both benefit and for a part of the price.
Finding Wholesale Deals Is All About Marketing Yourself
We will talk about the ratios and numbers that break down how advertising and marketing dollars should be spent. In real estate marketing we will discuss staying organized in your multi-line professional caller. We will talk about the setup of your multi-line professional cold caller. And lastly, we talked about social media advertising to attract sellers and buyers to your website.
Invest On Bandit Signs
If they are legal in your state, you can leverage for this great alternative. Yes, having them printed and installed may take a few hundred dollars. But think of this: if these signs get you at least one deal, they would be worth the money.
Are you starting with no funds? You can always do them yourself! Buy a big fat market and some blank sings and fill them with your info, 3-4 lines, your vanity number, your website and place them around your area. Remember to use contrasting colors, installing them above eye level in posts or use stakes to put them in the ground.
The Secret To Success In Real Estate Wholesale With Bandit Sings
Master your farm area. Get to know the area you plan to work very well before you start. Don’t waist your time, effort, and money in an area with a super low turnover rate.
Also drive around the area, create your own pinpoint map with your phone or take pictures of the places you want to have your signs installed.
Work on Your Wholesale Mastermind
These are two important things you must cultivate to grow your wholesale business:
The Power Of Delegating In Wholesale Real Estate
You don’t have to personal take care of every little task in your business to have it done right. Delegate the simple tasks that may take some good time from you and use that time to get yourself to the next level, to constantly improve yourself.
Virtual wholesaling means you can do this from anywhere… Just delegate the tasks like Max Maxwell.
Work on your alliances
Realtors, bankers, loan officers, title company workers, escrow agents, county front desk, state lawyers… This is the people you need around you! Build quality relationships, bring value to them, be there for them and they’ll be willing to help you along the way.
Where are your real estate wholesale deal coming from?
From my experience, I can tell the following numbers:
This is a real-world example of how realtors / brokers / wholesalers / investors determine a property value. A student wanted to know how much this property worth is. So, we are using this real-world real estate Comparable Market Analysis CMAexample today.Learn more here.
Step By Step Real World Comparable Market Analysis CMA
Let’s walk together through the process. A student sent a link of a property with a price of $125,000. Here is what a usually do from my computer:
1. Find basis information about the property
First thing we do is searching for the address online. It is listed in several sites, meaning it is not good for wholesale.
Zillow suggest a value of $177,000 based on a huge market area.
HAR.com describes this as a 3bed, 2 and a half bath property with 1505 sq ft on a lot of 4,490sq ft. located in Tomball, TX. Subdivision is Westbourne. Built in 1994. Their value is almost $155,000
Use google maps street view and take a virtual block around the street and the block to check the neighborhood or find oddities.
2. Leverage the power of aerial view
Use the aerial view to have a closer look into neighbor’ properties, conditions of lots around, value of homes nearby.
In this case, the retainer pond found behind the property suggest many possible troubles like mod, mosquitoes, snakes, or water accumulation after rain.
Also, we get to see the size and price of this property and compare it to the ones next door. This is a way smaller house with the same problem than the neighbors’ with not a big difference in prices. If you can get a bigger place in the same area for the same money, this means you can drop the price.
3. Comparing To Similar Properties Within The Zip Code
In this case, I’m running a search on HAR.com for homes of the same type sold in the same zone, listed from 0-100 days. Narrowed my results by using the corresponding subdivision and adding similar criteria to the property under study. Square footage is perfect to start. Checked the few closest properties and compare the features and value to the offer you have.
4. Create a Comparable Market Analysis CMA with any tool
This is an optional step. As I have access to all the tools HAR.com tools, I’ll use them to create a CMA with the more similar options I found in my previous research. Simply add all the information requested and generate a CMA. This will give you an idea of the right price, of how long does it take to be sold in that area and how close the price was to the accepted offer.
How much your home worth? Are you planning on buying an investment property and need to know the value? You can find out by doing a Market Analysis also known as a Comparable Market Analysis. Real estate brokers & realtors use this technique every single day to evaluate properties. Now you will learn how to evaluate any home or any type of real estate in our school.
You may also hear the term CMA which is Comparable Market Analysis this is an evaluation of how much a property is worth at the current moment. How much a person would be willing to pay for it in today’s market. this should not be confused with the Tax Appraised Value.
CMA vs Tax Appraised Value
A market analysis is what the property will sell for in today’s current market. The state is in a price all this state or a city does to issue taxes. Both valuations can be very different especially in dense city areas.
What To Look At When Building Your Market Analysis
Define your market area. Make it very small, take a specific section of the subdivision if necessary.
The quality of schools within your market area has a big effect on your analysis. The better the schools, the higher the home value.
Make sure you compare homes of the same type. For instance, divide them into a single family, townhome, or condo.
Similarly, compare homes according to the years of construction and renovations performed.
Square footage is super important. You can’t compare the values of homes with a huge difference in lot square footage or building square footage or living square footage. This all weighs in your value.
Also, the ratio of the number of bedrooms, bathrooms, and car spaces in the garages versus the square footage says a lot about the dimensions of the rooms and their convenience.
Defining the Market Area
Now we must define the area that is comparable to the home. Try not to use ZIP code tools or radios tools as they can hurt us when gathering data. This is because you end up leaving out important comps or including irrelevant comps. To make an informed decision, we use a Pinpoint Plot Tool. If you don’t know the neighborhood call some realtors that master that area.
Investigate for oddities
Sometimes, great deals come with hidden oddity. You want to stay away of anything that is weird, hard to sell. Although you may also consider lowering the value due to such oddities, which may include:
Busy streets/heavy traffic
Bad layouts/tiny rooms
Bad neighbors: dirty, smelly, loud neighbors or neighbors running businesses
HOA/ Maintenance fees
Flood zone/ flooded property
Somebody died mysteriously/murdered inside the house
Why Not Using Zillow or Trulia for CMA Comparable Market Analysis?
Trulia or Zillow as well as many other companies deal with large amounts of data. they do the best with what they have but it’s impossible for them to get the right value because of how different each neighborhood is, the proximity to other neighborhoods, whether these are good or bad, and the different values that can exist in the same neighborhood.
In Wholesale Real Estate Training – Writing The Sales Contract is one of the most important factors in locking down a transaction, then selling the rights to the property. If the contract is not done right, you have nothing to sell. So, this is one of the most important parts. I recommend using our template and taking the full course on Wholesale Real Estate. Learn more here.
Having a good wholesale real estate contract is not as hard as you think in the beginning. You just need to make sure not missing any of this important aspects and stating everything extra clear. It’s all black or white in legal documents, it is there, or it is not there. And consequences can be devastating if something important is not there. You must be foresighted, anticipate any bad scenario and include clauses to get you out of them.
Structure Of The Wholesale Real Estate Contract
Start by using your local commission template, have an attorney create you one, or simply buy one from us. Not to brag, but our template is written in a way to benefit the buyer (YOU), not in a neutral way.
Mostly, the structure is the same, so you can understand and fill it out the relevant sections as indicated below:
Parties. Have the parties involves, that is, the seller and the buyer (you) identified at the beginning of the contract.
Property. Find the legal description of the property by going to the local appraisal district. You need to find the lot and block description city, county and complete the address section in the format requested. Also, make sure to state what comes with the property and what does not by using the inclusions, accessories, and exclusions section.
Sales price. Always select the Third-Party Financing Addendum.
License holder disclosure. This must be filled if you or anyone in your LLC is a licensed agent
Earnest money. An amount held by the title company while making sure the property title delivered is totally free of legal or financial attachments.
Title policy and survey.
Disclose the name of the title company you’re working with.
The commitment section gives you time to check irregularities found by the title company during a certain period and back out of the business if needed.
Like the Commitment, the survey is another loophole that can favor you.
Use the objections in case you have something new to discuss. If the deal is not completed, you’ll get your earnest money back.
Title notices are just a standard subsection. Feel free to read them later.
Property conditions. This is an important section to fill as you’ll be showing this to the next potential buyers. This reveals the real, current conditions of the property. It should the repairs that need to be done, but the seller won’t perform as the property is being sold as-is.
Closing. Make sure to put a deadline instead of a date at the closing. 15 days after execution is usually time enough.
Possession. This clause states that the new buyer will get the keys and the right to move in just after funding the purchase.
Special provisions. Here, the wholesaler should disclose he/she is using financing or a line of credit to fund this transaction. This will get you cover in case of changing your payment method from cash to another one without breaking the contract.
Settlement and other expenses. This states the seller will have to pay you a closing cost equal to 3% of sales prices or up to $9000.
Default. Protects you in case the seller backs out. In case of having no loopholes, this clause will guarantee you keep the earnest money or sue the seller for a substantial amount.
Mediation. Makes sure you split the mediation clause in case of disagreements before going to court.
Attorney fees will be paid by the part in fault.
Escrow. Similar to the title company, the escrow ensures the process goes accordingly and fairly to each party.
Pay attention to the Federal Taxes Requirements and pay them, as necessary.
Both, seller, and buyer must receive Notices via email and post mail.
Check what other forms are being used in your contract in the Agreement of Parties section.
Termination Option. Commonly a term of 10 days and $100 is set, but this depends on the property.
Follow your contract and Consult an Attorney before signing. In case you do, fill the blanks with the right information.
The Execution Date is the one when everybody signs the deal.
In case the wholesaler is a licensed agent, the Broker Information section must be filled out. This will get you another extra 3%
Loopholes In A Real Estate Wholesale Contract
You have 3 different ways to get you out of a contract:
Option period. You can back out for any reason. Make sure to put as little money as possible there.
Seller disclosure. If seller never disclosed something important or gave you a required documentation, you have the right to back out of this deal unharmed.
Title commitment. You can always use this clause when still on time to get your earnest money back in case you figure out this deal won’t go anywhere.
