Wholesaling Quick Cash
This is a continuation of “The Great Escape” audio podcast reality show with Eric Thiele. Eric has been given assignments each week to help him get his wholesaling business started. In this episode, Eric catches us up on the challenges he has faced and the successes he has achieved over the last few months.
Sean: What you did is you went out and you took action. You went out and you found a realtor. You went out and found a title company. You went out and bid on properties. Just because you didn’t wholesale a deal, you still turned a real estate deal into a profit, right? You found the buyer. You know what I mean? So because it’s not the traditional wholesale, who cares? I’ve made money fix and flip. I’ve made money on multi-unit properties. I’ve made money on seller financed deals. I’ve made money on land acquisition entitlement. It’s like you turned an opportunity, which maybe not finding a potential buyer at the end of the line, but you turned it into a money making opportunity of going in and being able to extract money that way by fixing up the property and selling it.
There is absolutely no failure there, whatsoever. But, as humans we always look at ourselves and go, “What could we do better?” or, “what could we do more?” I beat myself up all the time going, “Come on! Let’s go! You know, you’ve got to do more. Do this. Do that.”
So, when it comes to hiring people, initially at first, you’ve pretty much got to do everything yourself. You’re the marketing guy. You answer the phones. You have to call back the people. You’ve got to get the contracts. You’ve got to do the evaluations. You’ve got to talk to your buyers and put out the property to market. So essentially you’re doing it all, but I always recommend doing it all at first. Because then when you do bring on people, you know exactly what you’re talking about when it comes to guiding them in a direction, so you’re not lost.
I just brought on a high caliber person that came from the corporate world and he’s in sales, but he’d go into companies that were smaller type companies and turn them into larger companies through building a sales organization. Yeah, I have to pay him a lot of money, but the bottom line is that I know exactly where I’m going, exactly what he needs to do to make it happen, so I can guide him in a correct direction so we can get the results.
When it comes to bringing people on, yeah you could probably hire a VA to do your letters and stuff. Or you could outsource it to Mike Quarels, have him do your mailing. Or you could have Pat Live answer your calls for you for a nominal fee. Have you ever heard of Pat Live?
Eric: Yes I have.
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