This is the continuation of the Flip2Freedom podcast transcription. In this episode, Sean interviews the nation’s #1 wholesaler, Kent Clothier, and finds out how he created a wholesaling empire – averaging over 50 deals a month.
Kent: We have decided that one of the things that was really unique about our business, that we could do that most people wouldn’t do, is really be very hands-on from a customer service perspective. So, we got three or four young ladies that are constantly working with our clients. Two people are responsible for buying, six people, like I said, that are responsible for selling. That’s pretty much the organization.
Sean: Let’s say the average house is $50,000 or $60,000, you’re talking about tens of millions of dollars of real estate that you’re moving. And, to be able to manage that operation with that team is phenomenal. Because, a lot of people think that you have to have 200 employees to be able to manage that type of volume in real estate. But, you can run fairly lean and mean, which is phenomenal, but then you can kind of adapt to the marketplace, which is great.
A lot of people are listening right now; they’re brand-new and maybe they’ve done two or three deals, they don’t have the process down or a system down. They have maybe 3 to 500 cash buyers on their list, and they’re looking, and saying, “Hey I want to really make a run for this thing.”
What would you say to someone that is kind of new right there, and they’re in a position they want to run for it, but they have that fear. Because, they don’t know if they go full-time in this thing, and they quit their job and they go full-time, can they really make a sustainable business? For someone that is in that phase right now, where they have made some money but they haven’t made big money, what is the process of scaling this business, do you think?
Kent: Well, first I would tell you that I think it is very important that people understand that you have to embrace the struggle when you’re actually building a business. There are no guarantees in anything that we do. Part of building the business is knocking around a little bit and figuring out some of the stuff. Guys like Sean and myself, and a few others out there, we have kind of paved the way, and you don’t necessarily have to be a trailblazer and go out there and learn all of the stuff on your own.
But, the reality is, part of building a business is there are no guarantees, that’s the thrill of it. That’s what keeps a lot of people out, and that’s the difference between success and failure. I would tell everybody that there is a system and process for every single thing that we do in our business, and I think that’s probably one of the things that a lot of people struggle with is the fact that they think this is all about chance. And the reality is most businesses, in order for them to become scalable, you have to embrace systems.
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