How to Bring in Cash Faster for Wholesaling CEOs
How can you bring in cash for your real estate investment business faster?
Even for those flipping houses, which is considered one of the fastest ways to make money in real estate, wholesaling CEOs can find themselves running into a cash crunch. This doesn’t just affect the newbies either. Even established investment companies and veteran real estate investors can run into an issue with cash flow now and again.
So whatever the reason, and whatever level you are at, how can you reduce your cash flow cycle or bring in more cash fast?
6 Ways for Wholesaling CEOs to Bring in More Money Quickly:
It’s hard to keep deal flow and cash flow steady unless you are constantly marketing. However, before you panic and rush out on a marketing binge with your last few dollars recognize just how long some types of lead generation can take to pay off. Direct mail for example can take weeks and months to pay off with real money back in your pocket. Instead look for channels that can produce immediate results like PPC advertising.
If you are short on dough, perhaps the best move could be to borrow and beef up working capital before it gets too bad and leads you to making poor decisions. Wholesaling CEOs should recognize this doesn’t just mean taking out mortgages. Consider business loans, lines of credit and taking on partners.
3. Raise Capital
If borrowing isn’t appealing or possible consider turning to crowd funding or other ways to take on investors to build up seed or working capital like approaching angel investors or venture capital firms.
4. Change Strategy
Some real estate investors are very loose with the terms they use to describe their investment strategy. If your cash cycle is too long tighten it up by dialing back from fixing and flipping houses to ‘pre-habbing’, true wholesaling or even just flipping real estate contracts.
The fastest way to turn property into cold hard cash isn’t to buy and then market and sell homes. It is to already have them pre-sold before you write the contract and then be able to close in a matter of days or even hours.
6. Expand Your Product Line
Just because wholesaling CEOs are real estate focused and love turning homes doesn’t mean that they can’t benefit from adding other revenue streams. This not only offers the hope of more cash now but can increase diversity to prevent falling into the same hole later and can maximize top earning potential. Consider turning branded items into salable products, serving up affiliate products on your website or blog, picking up speaking engagements or even franchising your real estate wholesaling business.
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