Wholesaling CEOs: Tips for a Bigger Bottom Line
How can wholesaling CEOs hack into bigger net profits?
The web is full of tips for generating more leads and top line revenues but many can simply result in more labor rather than net profit unless the eye is really on the all-important bottom line. Focus on profit margins isn’t just about fattening the wallets of wholesaling CEOs in the short term either. It is those real estate investment companies that maintain the best spreads that will have the edge that enables them to stay ahead of the competition.
So what some ways to hack the system and create more profit where others are bleeding money?
Outsourcing can make a world of difference in the bottom line of real estate investment companies. Even if you are still operating as a solo wholesaling CEO right now, you will need help in order to grow and enjoy the maximum freedoms wholesaling houses has to offer. Plus it comes with numerous side benefits. Besides eliminating extra office space costs, equipment costs and other in-house payroll associated line items it removes risks, streamlines operations, can improve customers service and more. If you haven’t outsourced before, check out platforms like oDesk.com.
2. Toll Free Services
For building on the above and empowering your outsourced teams, as well as building in business continuity during disasters toll free numbers and services can be immensely valuable, while driving down communications costs. Toll free vanity numbers have a wide range of benefits for branding and marketing, but even local VOIP numbers from Skype or Google Voice can really help operations and the bottom line.
3. Captive Insurance
This may be too advanced for some new real estate wholesaling companies but can be smart to include in planning right from the start. Captive insurance and its sister forms of micro captive, group captive and reinsurance are all types of self-insurance that give wholesaling CEOs more control over their funds, claims and can reduce premiums.
4. Tax Plan
Wholesaling homes can bring in fast money in big lump sums, but where many investors bleed out large chunks of potential profits is consistently taxes. Even with all the tax benefits real estate natural offers there are so many more ways for wholesaling CEOs to save if they have an annual plan and are constantly minimizing their liabilities and maximizing breaks.
5. Improving Marketing ROI
Marketing can be one of the biggest expenses real estate firms face. It is here that wholesaling CEOs can really get the edge (or lose it). Find ways to improve ad targeting and collaborate on events, PR, direct mail and content marketing for growth hacking and reducing marketing costs.
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