STRATEGY
WHOLESALING BUSINESS
8 Important Factors in a Successful Wholesaling Business INFRASTRUCTURE IS EVERYTHING, EVEN IN WHOLESALING.
by Brad Chandler
holesaling is a method of real estate investing in which you get a property under contract at below market value, then assign that contract to a cash buyer for a higher price. You don't need to buy or renovate the home, and you collect a fee to put the seller and buyer together. It’s a low risk and highly scal- able model to make money in real estate investing without credit or tons of cash. However, just because it is a simple con- cept does not mean it does not require planning and strategy. Here are the eight integral aspects of every wholesaling business: NO. 1 A Customer Relationship Management (CRM) System In wholesaling, good CRM starts with a good website. Your website will estab- W
chasing a pre-built CRM package off the shelf and customizing it.
lish you as a reputable company and, with the right lead generation strategies, will soon be your main source of leads and deals. Breaking Down the Language Barrier: When you hear the term “CRM sys- tem,” it includes the software or program that will link your website, which collects wholesale leads, to whatever process you use to follow up with leads, evaluate them, and make productive contact, which you’ll see more of in Step 2. Building Your Budget: You can get a great CRM system for about $20 a month, but you will have to customize it extensively. A custom-built CRM will be much more expensive. You may also opt for middle ground by pur-
CONTRIBUTOR RECOMMENDATION:
oncarrot.com
NO. 2 A Solid Screening Process Wholesalers need properties under contract for a low enough price that they can sell them at a deep discount to other investors. Determine what price will snag
42 | think realty magazine :: september 2018
Made with FlippingBook Learn more on our blog