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Welcome To The Business Of Wholesaling Newsletter!

Every week, we’ll be sending you strategies, tactics, and tools used by successful wholesalers and we’ll cover any important market insights and news in the industry.

Here’s what we got for you today:

• Instill Certainty With Honesty

• Is There A Housing Bubble?

• The Art of Building Connections That Boost Success

Learn How To Lock Up 10-14 Contracts Per Closer Next Tuesday

Next Tuesday at 4pm ET, we have a special webinar scheduled. Drew Carrell of Leadzolo is sitting down with Tiff and Josh High to discuss strategies to help grow your wholesaling business. 

This is one you won’t want to miss.

Here are some of the things on the agenda:

• Learn the exact systems, marketing, and processes behind how Tiffany & Josh High VIRTUALLY market, acquire, inspect, wholesale, and even virtually rehab 20+ houses per month.

• How to avoid relying solely on cold-calling and texting as your main marketing strategies (this approach alone won’t scale your business to the level you want)

• How to use multiple exit strategies to maximize your marketing efforts (wholesaling, flipping, rentals, etc.)

• … and much, much more.

>>> Click here to register your spot on the webinar before the Zoom room fills up

Instill Certainty With Honesty

Standing between you and every deal is a gap. Depending on who the seller is and how you’ve made your first impression, this gap could be 10-20 yards. Or it could stretch the entire football field. 

Sales consultant Oren Klaff calls this the certainty gap. Our brains expect total certainty for things, which is impossible with every transaction. So it creates inherent uncomfortability with the uncertainty. 

Our job is to reduce the certainty gap. One way to do this is to provide the seller with more information.

Now too much and too little information are both detrimental to the deal. So it’s important to stay in the middle. 

A counterintuitive way to do this is to lay out the options for the seller. And be honest about it.

I read a great story by Henry Washington on how he closed a deal that came through his website. 

A seller filled out some information on Henry’s website, wanting to hear an offer on her property. 

It was for a fairly new property so Henry figured it was another seller looking for full retail value without having to pay an agent.

Henry visited the property and knew that if the seller listed with an agent, she could make around $265,000. But the most he could offer her was $175,000.

He explained exactly that to the seller. 

If she went with a realtor, after commissions, she would walk away with an additional $69,000. Henry even encouraged her to go that route even though it would take longer. 

The seller thanked Henry for being honest and upfront with her. And she took Henry’s deal. 

To instill certainty, you need to prove that you’re an expert. And by laying out options and giving specific numbers, Henry was able to reduce that certainty gap between him and the seller.

By being honest, he built the trust and rapport needed to close a great deal for him. 

Some wholesalers might scoff at this idea. Why would you tell the seller they can make more money another way when you’re trying to get the deal?

Sometimes people are just looking for convenience and someone they can trust. Someone who can get it done.

And if you prove that you’re that guy or girl, the pendulum will swing in your favor more often than not. 

Is There A Housing Bubble?

Jason Hartman just released a video a week ago with his insights on the current housing market.

So let’s go over some of the key points in the video.

According to Hartman, there’s a lot of pent-up demand right now in the housing market. To the point where we may see similar surges in demand like we did during COVID. 

Why is that the case?

Well, if rates drop to 5.5% (Fannie Mae’s prediction) late this year or next year – that means 7.7 million more buyers will qualify for a mortgage. 

Even a 0.5% drop will result in 2.8 million new buyers who qualify for a mortgage. 

Some say that is also the reason why some buyers may not wait for rates to drop before buying. The amount of competition when rates drop won’t benefit them.

Plus, if buyers buy now, they can always refinance later.

Hartman says that there are plenty of homeowners with low payments and substantial equity. Those individuals won’t be walking away from their homes any time soon. 

And with low inventory and few distressed sellers, no bubbles will be popping.

Some other interesting points Hartman makes in his video:

1. Inflation-Induced Debt Destruction - Hartman believes real estate is the best investment out there (obviously!). But he uses this term to convey that real estate investors get to pay off debts with cheaper dollars due to inflation while seeing their properties increase in value and rent. 

2. Active Listings Only 50% Normal - Hartman only looks at active listings and reminds us that we are surging back from all-time lows. The current inventory levels are 50% of what they were back in 2015. 

3. Inventory Per Capita - If you divide the total housing units by the US population, it’s at about 1.12. In 2008, it was at 1.17. Shows you how much of a shortage there is. 

The Art of Building Connections That Boost Success

A key aspect about business is relationships. Yes, you have to talk to people, sorry introverts.

When the right relationships are built, there is no greater return on investment.

At the end of the day, the age-old saying still holds true. It’s not about what you know, but rather who you know.

But let's be clear, we’re not talking about handing out business cards or simply asking for business. We’re talking about the art of building genuine connections that produce long-term results.

When you’re well-connected, the opportunities don’t just come knocking; they break down your door. Job openings, business deals, and collaborations often circulate through networks before you even hear about them.

So, how do you build these valuable connections?

Be Genuine

People can sense when you're being inauthentic. Show genuine interest in others and be willing to offer help without expecting anything in return.

Attend Industry Events

Whether it's conferences, seminars, or casual meetups, being present and engaging in these events can open doors to new relationships.

Leverage Social Media

Platforms like LinkedIn are powerful tools for connecting with industry leaders and potential collaborators. Be active, share valuable content, and engage with others' posts.

Follow Up

After meeting someone, make it a point to follow up with a personalized message. Keeping the conversation going is crucial for maintaining connections.

Offer Value

Think about what you can bring to the table. Whether it's knowledge, resources, or introductions, offering value makes you a desirable connection.

Remember, networking is a two-way street.

It's not just about what you can gain but also about what you can give.

By fostering genuine relationships and continuously nurturing them, you'll find that your network becomes one of your most valuable assets in achieving success.

Thanks for reading this week’s issue of the Business of Wholesaling. 

We’ll be back next week with more marketing & sales strategies, market insights, and other advice you can use to grow your wholesaling business. 

See you next week.

Team Business of Wholesaling