Make $10,000 In 30 Days | Wholesale Real Estate

Let's go over how you can make $10,000 in 30 days wholesaling real estate. In full transparency, $10,000 is a small wholesale fee for us. In the last few years, our average assignment fee has been over $25,000. But with the market slowing down and all these different things changing, let's keep it conservative and go over step-by-step how you can wholesale real estate in 30 days. First off, if you've never heard of wholesaling, it's much easier than flipping a house. Normally when you do a house flip, you've got to find a good deal, find the money to purchase that deal. Could be your money, could be somebody else's money, could be the bank's money. And then once you buy the deal, you've got to fix it up, get it renovated, get it really nice. Then you go and list it with a realtor. It then sits on the market waiting for a really good offer for you to take. And if it's in a market like we are today, then the buyers are a lot pickier. They're gonna want RepairQuest, they're gonna want The World. But assuming you get an offer and everything is square and their loan goes through, then you get paid and you make your profit. House flipping is great. I flipped hundreds and hundreds of homes, but it is a long process typically when you buy a normal house flip. On the other side, you can just wholesale, which is far less risky and way quicker cash. The way wholesaling works is you still go back to step one of finding a really good deal, but instead of trying to get the money to go buy the deal then fix it up, you instead just find an end buyer. You find a house flipper who's wanting to buy it themselves. You find an investor who wants to keep it as a rental property. And as long as you can find somebody who's willing to pay above what you have it under contract for, you can sell it to them without having to buy it yourself. You do this by assigning the contract to this buyer. So to make things super simple, let's say I get a property under contract with a seller for $400,000. Now at $400,000, I know I got a great deal on this. It's probably gonna sell for $550,000 once I fix it up a little bit. Instead of me doing all that, I find my buddy Tom, who's a flipper, and he says, Ryan, I'll pay you $420,000 for the home. Because he knows even at $420,000, he's still gonna make a large profit when he goes and sells it. So what happens next is I assign my contract rights to Tom. Tom is now going to become the buyer of this home. And Tom is gonna go get his own money either from himself, a bank, or another private lender. When it's time to close, he is going to wire $420,000 to the title company. The title company is gonna take $400,000 and give it to the seller because that's what the original contract was for. And then they're gonna take that $20,000 extra and give it to me. This is called an assignment fee or a wholesale fee. They're the same thing. And once that deal closes, I get paid and we're done. So you can see, wholesaling is really cool because you can make a lot of money without having to take the risk of flipping it, especially in today's market, and not have to go raise money or go manage construction and wait to get paid when it finally sells. And I can tell you, as somebody who's wholesaled a lot of homes and flipped a lot of homes, I'm actually switching my business model to do more wholesaling than flipping. And there's really two reasons for this. First is that it's easier for me to scale. Up to this point, I've always done around 100 deals a year as a mix between flip and wholesale. But the majority of what I'd done was always house flip. And I kinda didn't wanna flip any more houses because I didn't wanna go find more contractors and raise more money. So we've always kinda stayed at that level. But the other side of why I'm choosing to wholesale more now is because of the risk. There's a lot more risk in flipping houses. And for me, at this point in my career, I don't necessarily have to take that risk anymore like I did previously. I've got a bunch of other businesses that make me money. And so house flipping isn't my main source of income anymore. And so when you think about those two things, we can have less risk and we can make more money potentially and do more deals with wholesaling because we don't have the risk and we don't have to get contractors or money. We just have to get really good at finding deals and finding buyers. So let's talk about the ways to find deals. There are three main ways that you can do it. The first is on the MLS. The MLS stands for the Multiple Listing Service. This is pretty much every house that you see on Zillow on the market. Now you might be saying, Ryan, how do you wholesale a deal on the market? Well, you're gonna have to make a bunch of offers on these properties and get them below market value. If you're able to lock up properties below market value, there's always gonna be a buyer for it no matter what the market's doing. We have wholesale properties we got on the MLS many times. Now, how do you find deals on the MLS? Well, the number one way we do it is through auto searches. An auto search is a search that you set up on the MLS that notifies you instantly when a property hits the market that fits your criteria. So one of the most famous auto searches we'll do is called a price per square foot search. Essentially, we'll take a zip code and we'll look up what's the price per square foot in that zip code. Let's just say the average price per square foot's $200. We might say, notify me every time one hits the market that's $150 price per square foot or less. And sure enough, every time one of those properties hits the market, I get notified and we can make an offer instantly. And there are a lot of different auto searches you can set up, but I'm not gonna go super in depth on it in this video because we got a lot of things to cover. Now, the second way that you can go about finding deals is through other wholesalers. So maybe you found other wholesalers who are really good at finding deals, but maybe they're not so good at finding buyers. Well, this is an opportunity for you to do what's called a co-wholesale. So you and the wholesaler are gonna wholesale it together. Now, this could be structured in many different ways. Maybe the wholesaler says, hey, if you find a buyer, we'll split the wholesale fee. Or the wholesaler say, look, I need $410,000 on this property. Anything you get above that is yours. So maybe you've got a buyer at 420. You can go make 10,000 and the other wholesaler will make the spread between what they had it under contract for and 410,000. And that leads to the other way we find deals, which is through direct to seller marketing. Now, this one's gonna cost you money, unlike MLS and wholesalers, but it's the one that's gonna give you the biggest spread. Because there's no middleman realtor or wholesaler, you're going direct to the seller and you should be able to get the very best deal. Now, there are lots of different ways that you can get in touch with a seller. You could do things like text messaging, cold calling, pay-per-click, direct mail, TV commercials, Facebook ads, SEO, the list goes on and on. And each type of marketing channel is gonna have a different type of qualified lead. Some of those are what we would call outbound marketing techniques. An example would be cold calling or text messaging somebody. You are going out to them. You have no idea if they wanna sell their house or not. You're just playing a game of spray and pray. If you talk to enough people, 1% of them will say yes, they want an offer, and they can turn into a potential deal. The other side of direct marketing is through inbound lead. Now, these leads are gonna be a lot hotter because they are calling inbound to you. So a way to get inbound leads would be through the TV commercials or the direct mail. They see my TV commercial, they get a mailer from me, they call in and they say, hey, Ryan, I got your mailer. I'm interested in selling my house. I know they're motivated because they called me. So these kinds of leads are way better. You might be thinking, well, why wouldn't I just always go for inbound leads? Well, doing leads like this is really costly. Me running TV commercials cost a lot of money, but you can go cold call a lot of people for very cheap and get leads. So most people, when they first start out, usually tend to go towards outbound marketing because it doesn't cost a lot and they can do a lot of it. And as they get better, they then start to incorporate some inbound marketing, like I mentioned. Now, when it comes to getting deals, we do all three of those things, but I always recommend to people just getting started to focus on one. If you wanna go on the MLS and dominate that cause you don't have a lot of money, cool. Make offers on the MLS every day. If you wanna go through the wholesaler route, great. Network with other wholesalers and you can also network with other realtors to have them send you deals as well. If you wanna start marketing, then start marketing. My suggestion is do some outbound marketing, get volume under your belt. Once you pick one of those and you're having some success, you're then able to go find a deal. Now you're saying, Ryan, how do I even lock up a deal? What kind of contract do I use? How do I know what I'm doing? What you can do is go to futureflipper.com and book a free call with my team. We have coaching programs and thousands of students all across the country who are absolutely crushing it. And whether you choose to join our coaching program or not, they will point you in the right direction. They will hook you up with some contracts and things for you to get started, even if you don't use us. So definitely book a call with the team cause they're gonna help you a ton. But once you get a property under contract, you then need to go find a buyer for that property. Now there are a few different ways that you can go about finding buyers. First way is to go join Facebook groups and market your deal in those groups. If you're in Las Vegas, then search Las Vegas real estate investors. You're gonna get a whole bunch of groups that pop up and you're gonna very quickly find the investors in your market. Another thing you can do is go to meetups. So if you go to meetup.com, you can go find other meetups that are being hosted around you. If you're watching this video, then you're probably on social media. And I can tell you most of the house flippers and investors are on Instagram. So if you just start looking for real estate content on Instagram, you're probably gonna be fed through the algorithm, some of these investors in your market. And there are a lot of other complex ways to go find buyers, but those honestly are the easiest. If you have a really good deal, you are gonna find buyers in one of those three ways. Now, once you find a buyer, you can go wholesale them the deal and go make your 10,000 bucks in 30 days. So go out there and find a deal and make it happen.