Ready-Fire-Aim, Prospecting On A Budget,

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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:

• Ready, Fire, Aim

• Prospecting On A Budget

• Maximizing Profit Margin

Learn How To Be The Bank

Next Monday, Drew Carrell, CEO of Leadzolo, and Dan Zitofsky will sit down and discuss the topic of seller financed notes. 

Banks have it good. They sit back and collect interest on money. That’s exactly the position you get to be in with seller financed notes. 

You become the bank. 

The best part about this is that you can get deals done virtually like wholesaling. Dan is an expert at this and he’ll discuss everything from:

• How Dan picks a market and what signs to look for to determine if an area is a good opportunity for seller-financing

• How to build a team in that market so you’re not doing all the admin work and can actually sit back and relax like the bank

• What type of properties work best in particular markets

• How Dan makes his seller-financed properties maintenance free

• How Dan raise money for those properties

• How to sell off properties with a waitlist of investors willing to buy any deal from you

• How to pay back private lenders back in 12-18 months but stay in a deal for 30 years collecting passive income

• 5 of Dan’s favorite exit strategies

• How to make deals ironclad with legal docs. This is super important for private lenders and it’s how you can get them to fund your deals over and over again.

• Plus, a free giveaway (I’m not actually sure what it is, but knowing Dan, I know he’ll come up with something good)

So if you want to join the discussion and learn something new or ask Dan questions, we’re going live on August 12th at 7pm ET.

Ready, Fire, Aim

Imperfect action > perfect action. Always.

Why? Because perfect action doesn’t exist. 

Yet, so many entrepreneurs find themselves in “aim” mode, trying to learn the best strategies or understand every little detail before taking action. Ironically, this behavior leads to very little or no action.

This isn’t the Olympics. You’re not trying to have the perfect aim to win a gold medal in shooting.

In fact, if you’ve seen the viral Olympic shooter from Turkey, Yusuf Dikeç, he’s the perfect example of this.

If you watched the shooting events you’ll notice one thing. Everyone has some serious gadgets or knick-knacks on. Special glasses, a special way they stand, or a special way they hold the firearm. 

Then here comes a regular looking guy, the only glasses he wears are the ones he needs to see. Puts a hand in his pocket, holds up the firearm, fires, and gets a silver medal. 

So many people keep trying to aim, they stay aiming forever. I heard a great story about a wholesaler who recently got into doing land deals.

After he finished learning from his workshop, he immediately started sending mailers to prospects for land deals that same day.

Did he do stuff wrong and make mistakes? Of course.

But you know what? Only a couple weeks later, he now has 10 land deals under contract. 

Ready, fire, aim. 

After firing, you make adjustments for your direction. I know this mindset is especially tough for beginners because you don’t want to lose deals or you want the feeling of getting a deal done.

But the fact is, you have to be willing to lose deals in order to get deals done. 

And to get deals done, you have to be constantly taking action. Constantly marketing. Constantly calling. Constantly making offers. 

Listen, we know of virtual wholesalers in other countries doing deals in the US. Not just a handful of deals, but hundreds of deals. Maybe we’ll spotlight their stories in the future.

So to all the newbies who tune into this newsletter each week, you have no excuses.

You got this.

Prospecting On A Budget

Real estate investor and author, Joe McCall, says all beginners should aim to talk to at least 5 people a day. 

We get it. Sometimes you might not have the capital to invest in resources to skip-trace or pull leads. 

But you have time. So that means walking neighborhoods or driving. Putting some good ol’ fashioned elbow grease into your lead generation. 

So if you’re tight on cash but have the time, here are two resources you can use to start grabbing leads to have conversations.

1. Cyberbackgroundchecks.com

2. Truepeoplesearch.com 

These two search engines are like Google for homeowners. Completely free. Give it a try and search for yourself. 

Like we said in the previous section, imperfect action. You don’t need all the fancy tools and resources at your disposal to start getting deals.

Use whatever you can and get a deal. Roll over some of those profits into upgrading your resources and continue from there. 

Maximizing Profit Margin

Just because you’re making money doesn’t mean you’re successful.

The reality is, that many wholesalers go out of business not because they aren't making money on deals, but because they aren’t making enough.

As a wholesaler, you’re not just closing deals—you’re running a business. And like any business owner, you have expenses that must be accounted for.

If you don’t keep an eye on those expenses, one of two things will happen.

The first option is that you run out of money and have to close up shop.

But believe it or not, that’s not the worst-case scenario.

The other possibility is even more disheartening: you could end up working a minimum-wage job you created for yourself.

Imagine that—your business is bringing in six figures or more, yet you have nothing to show for it.

It sounds crazy, right? But that’s the harsh reality many business owners, including wholesalers, face every day.

To stay in business, you need to do more than just make money.

You need to focus on the margin.

Margin is what will make or break your business. It’s the buffer that allows you to invest back into your business, pay yourself a decent salary, and weather any unexpected storms that come your way.

So, how do you increase your margin?

Start focusing on larger deals.

The bigger the deal, the higher your potential margin. Targeting higher-value properties or more lucrative markets, allows you to significantly boost your bottom line.

Raise your standards

Set a minimum profit margin that aligns with your business expenses. If you’re running a lean operation and handling acquisitions yourself, aim for a minimum 50% profit margin. This ensures that after all expenses, you’re still pocketing a healthy profit.

If your business is growing and you’ve brought on acquisition specialists, your margin might decrease slightly.

But it’s crucial to maintain at least a 35% profit margin.

This lower margin accounts for the additional payroll and operational costs of a larger team, while still keeping your business profitable.

Pro Tip: Get a Property Inspection

Investing in a property inspection is a small expense with big potential returns.

An inspection can uncover issues that give you leverage to negotiate a lower purchase price. This reduction directly increases your profit margin, making the inspection cost one of the smartest investments you can make.

Finally, keep in mind every time you say yes to something, you’re saying no to everything else.

Saying yes to a $10k deal means you’re potentially saying no to a $30k, $60k, or even bigger deals.

At the end of the day, time is money.

When you invest your time in lower-margin deals, you’re missing out on the chance to pursue more profitable ones.

So, set higher standards and set a minimum for what you’re willing to make on a deal. Don’t settle for just any deal—focus on the ones that truly move the needle for your business.

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