Accelerator4.1 Residential Rentals and ScalingCheat Sheet 1. No Closing, No Cry Not all offers go through, there will be some failed attempts. But what you must do is keep practicing and keep submitting offers. Lenders may reject your offer, sellers may back out, and that’s why having contingencies in place are crucial: Add an addendum …
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Accelerator3.6 MAO on the TableCheat Sheet 1. MAO (Maximum Allowable Offer) MAO is putting together the best offer so that you can get paid as a wholesaler. To derive the best offer, factor in the purchase price, cost of repairs, and your fee. The formula is: (ARV x .7) – repairs – fee = MAO …
Accelerator3.5 Phone ZoneCheat Sheet 1. Sales skills In order to be great at wholesaling, you’ll have to develop your sales skills: Become an expert at sales and present yourself as such: Elevate yourself above the seller in that you know how the deal should be handled, and that the seller needs to take heed to …
Accelerator3.4 Sales StructureCheat Sheet 1. Sales mindset In order to make a deal, you must be able to determine who is an SQL (Sales Qualified Lead), meaning: Is the seller qualified to actually do a wholesale deal? There’s equity in the property but the seller isn’t interested. Is the seller actually interested in doing a …
Accelerator3.3 Lead Generation and DemonstrationCheat Sheet Resources As a business owner, you need to know a little about a lot. Meaning, you have to be knowledgeable about the many facets of your business: Marketing, Sales, Operations Frugality: Keep track of every dollar spent Once your business grows and your systems are improved, outsource tasks that …
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Accelerator3.2 Wholesale MarketingCheat Sheet Wholesaling is a tool to use for a fast closing and to generate passive income. Hot zones Build your list by using Listsource to find the zip codes with the most absentee owners: Hot zones are areas that you focus all your attention and money on to generate leads. You want …
Accelerator3.1 Getting Started With WholesalingCheat Sheet Wholesaling is getting a property under contract with a motivated seller, and assigning that contract to an end buyer at a higher margin so that you’ll make that middleman income known as a “spread.” 1. Why wholesale With no money and no credit, you can still be in the …
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Accelerator2.5 Self ManagementCheat Sheet You’re almost near closing, so before you close there’s a few things you need to consider… Before you decide to outsource property management to another company or person, it’ll be helpful for you to self-manage your properties first – this is referred to as being the technician according to the E-Myth …
Accelerator2.4 Pre-Contract to Post-CloseCheat Sheet 1. Pre-Contract At this point you have the documentation to prove that you have the money to purchase your first owner occupant home: Tax returns W2’s or 1099s Bank statements Pre-qualification and pre-approval letters from the lender Know your purchasing power and terms: Interest rate: Fixed or ARM Amortization rate …
Accelerator2.2 Preparing for Deal FlowCheat Sheet 1. Light at the end of the tunnel At this point of the training, you should have taken measures to fix your credit. Hopefully, you’ve had some results with negative items being removed from your credit report. In regard to budgeting, you should have reached the following goals: Saving …
