3 reasons you suck at wholesaling

Lack of time exposure into a business does not mean you have the excuse of not having results. Too many people get into this comfort zone of being new to a business to the point where they're not holding themselves accountable for what results they actually want to have. And I can tell you from firsthand experience, that's the reason it took me 7 months to close my first wholesale deal. Not only because I was lacking in my personal sense of discipline, of consistency, of being in enough discomfort to actually make a sacrifice to get the results that I wanted to get, but also because of the lack of experience that I had in the business, but not as far as timeline, but as far as consistent efforts into the right thing. So obviously I was doing a lot of things wrong as far as strategy, but it was a mix of both. So in your case, what I'm trying to say is don't make the excuse for yourself. And I'm going to make this video telling you a couple of the reasons on why most people suck at wholesaling. Because a lot of people suck. There might be a lot of wholesalers out there, or people that call themselves wholesalers, but they suck and don't close deals. It's like, you might as well be a real estate agent that only closes one transaction a year, if that, right? You might as well do that and just be mediocre like everybody else. But there is a couple reasons on why most people don't close deals. Number 1, they're not consistent. That's the first thing, right? That's in any business model, in any realm of the world where somebody wants to be a master, where somebody wants to succeed at the highest level, you need consistency. The deals aren't going to close themselves. The leads aren't going to call themselves, right? The systems aren't going to get set up themselves. Nobody's going to come and hold your hand and do it for free. Nobody's going to come and save you. So you need to realize that as the first point, that you need to be consistent. You need to show up every day. You need to call these leads. You need to set up these appointments. So you can actually close some fucking deals. Because what's the point of calling if you're not going to follow up with them? What's the point of following up with them if you don't have the right script? What's the point of having the right script if you're not going to put your 100% effort into every single phone call that you get on? That's one of the reasons I didn't close my deal for so long, because I wasn't consistent. The second thing, your market is probably the issue, right? If you're already consistent and you're putting in the correct efforts in Knowing how to speak, knowing how to negotiate, knowing how to run numbers, knowing how to find buyers. Your problem is probably the market that you're in. You were sold the dream that, hey, the bigger the market that you go into, the more opportunity, which in some case might be true. But the opportunity is not for the person that's a beginner. It's not for the person that hasn't closed the deal yet. The opportunity is for the person that is spending thousands and thousands, thousands, $10,000, $20,000, $50,000 a month in marketing. You're never going to catch up to them because they are solidified in that market. In that case, this is what I tell everyone: stick to smaller markets. It's going to be less competition. It's going to be easier to get a property under contract. Yes, you might make a little bit less because, well, the price points aren't $500,000, $600,000. They're between $100,000 and $250,000. But at least you're closing a deal. At least you're getting some good experience where not every single call you get on is, hey, Hey, I'm tired of these phone calls. Hey, I've gotten a million of these calls. Give me your offer right now or I'm not gonna sell my property ever. Fuck off. That's probably a reason you're not consistent, because every time you hop on the phone, you're talking to these same people over and over again that talk to 5 other people this same week. It's not just about the competition, it's just about making it easier for you, making it easier to get on these calls, making it easier to lock up your first contract, making it easier for you to get your— what is the word that I'm looking for— your conviction of knowing, hey, at least I can lock up a deal. At least I can close a seller and have him sign up the contract. At least I can go ahead and talk to a buyer with a deal under contract so I'm not wasting his time, right? That's the main point on what's going to help you to be more consistent, because you're seeing results from your efforts. Obviously, in my part, I wasn't seeing the results because I was in a bad market. I was in Dallas, Texas, competing with everybody and their mom trying to be a wholesaler. Right? So we talked about consistency, we talked about your market. Next, how you sound on the phone. Trust me, I've heard from negative out of 10 rating on a phone call to 10 out of 10 rating on a phone call. A lot of you guys suck on the phone. You have to think about the modes of communication, right? It's normally in person. In person, you have the best communication, you have the nonverbal cues, you have eye contact, you have the way your mouth moves, you got the way you explain things with your hands. We're missing 90% of that. It's around 80, the actual scientific decimal, through a phone call, right? And a lot of you guys don't even want to get on the phone call. You guys just want to fucking text. How are you going to have somebody sell their property, such an important part of their life? People save up for 20, 30, 40 years to buy their first property, and you're expecting them to sell it over a text? What is wrong with you? There's something wrong with you. I need you to go and look at the mirror right now while you're listening to this video and say, what is wrong with me? Because that's ridiculous. Now, can you get leads through text blasting? Of course you can, but you have to get on the phone. You have to close these people. You have to understand the sequence of the transformation of somebody that's looking to sell their property, right? At the end of the day, we don't really care about the property because we can wholesale any property. We can wholesale a property that's a 10 out of 10 condition because we can novate it. Right? Or we can sell a property that's down to the goddamn studs, which is offer lot value and sell it to a developer or sell it to a vetted investor. What we care about is the seller's situation. So stop getting on these calls and saying, hey, are you the owner of this property? Yeah, I'm an investor. And, um, tell me more about the property so I can give you an offer. You just completely ignored why they would be interested in selling. You just completely ignored 80% of the ammo you're going to use when it comes time to renegotiate, right? If you have to, when it comes— if you have to, if you didn't lock it up at the right price in the first time, right? Maybe buyers are being a little bit more selective. You have to go for a renegotiation. Maybe you couldn't find a buyer in time, so now you need to extend the contract. How are you going to do that if they don't know who you are? If they don't know you by name? If they don't know any life experiences that you should also share with them, right? If you haven't built any rapport, haven't brought out any pain points, having set the frame on the phone call to extract this information that you need to get a good deal under contract? It's literally fucking impossible. Get good on the phones and you will be rewarded. There's a frame that you have to follow. Number 1, the introduction has to be fucking solid. If your introduction is not solid, you're setting up the call the wrong way. People aren't going to trust you. People aren't going to believe what you're saying. People aren't going to be willing to open up about their situation if your introduction is bad. Let me give you my introduction. Hey, is this Mark? Hey, Mark, how you doing, man? This is Jay. How's your day going? Today's going good. Perfect. I was calling about the Main Street property. Have you ever thought about selling it? Look at the energy that I have. Look at the tonality that changes between the words that I'm asking. Now, I'm not some mad scientist or the world's best closer, but I know how to show up on a phone call. I know how to set up the frame. I know how to sound like I know exactly what the fuck I'm talking about. Not only because I have my experience, because— but also because I know what works and what doesn't, right? Me getting on the phone and saying, is Mark— hey, Mark, what's up, man? Just seeing if you— if you got any property for sale. It's completely different tonality, completely different reaction that you're going to get. And you also got to think, let's say you are talking to somebody that has gotten 5 other offers and is tired of getting these phone calls. You have to understand where they're coming from. You have to have the empathy of understanding where their situation is at. Hey, I completely understand you're getting all these calls, man. Why you keep answering, right? Why are you still picking up the phone? Have you— are you still interested in selling the property? Are you against selling the property? Because that's what it seems like. If I would have gotten 5 offers, I would have probably sold it already if it was up to me. Oh, okay. They're all giving you bad offers. Is that the only reason? Are people not flexible with the timeline? Are people not flexible with your situation? What's going on? Oh, it's just the price. Perfect. Well, I'll tell you this, I've never not helped the seller sell their property just about price. It's normally something else. Continue with the discovery, right? Discover about their situation. Be a doctor. You might be a little bit of a crooked doctor because you're a little biased on— you want to make money. You will have— they have your money in your pocket— in their pocket. They have your money in their pocket, but Stop doing it like everybody else. And another thing is, don't be too rigid on your script. Don't sound like you're reading off the script. Don't sound like you're monotone. Don't sound like you're an AI. Otherwise, we could have an AI just make the calls. Be there, be present, have the energy. Show them that you're a real human, that you care about their situation. Don't just think about what you're going to say next. That throws off the whole conversation. You're going to miss so many points when you go back to listen to that recording You're going to say, damn, I could have gone into this. Damn, I could have asked more why questions about this. Damn, I could have asked more questions about this. Damn, I didn't even— I forgot to even ask these questions. Because you're not there. Be present. Consistency, market, how you sound on the phone, how you should structure a call, what questions you need to ask. And another thing that goes kind of along with consistency is speed. Stop getting comfortable. Yes, you locked up the contract. That doesn't mean you got paid yet. That's just— that just means you're on the clock now. A lot of people, they get comfortable once they get their first property under contract. Oh, I know how to do it. Oh, I'm good now. I'm a closer now. Find a fucking buyer. If you don't find a buyer, you're not going to get paid and you just wasted your time with the seller. You're wasting the seller's time. At the end of the day, this is not just about yourself. We're in the business to also help people, right? This person is in a clear situation. You discovered their pain points. You're telling them that you're going to help them about the situation, you don't have the speed to go ahead and find a buyer and fulfill on your original word as a man or as a woman, no discrimination. Speed kills deals. Not speed kills deals, speed closes deals. Time kills deals. Don't get lazy, somebody else is going to make that call. Don't get lazy, somebody else is going to lock up that same contract and actually close it. Right? Don't get lazy, or a buyer's going to turn around and go ahead and walk right behind your back and lock up that deal for you. Don't get lazy. Time kills deals. Be speed, be efficient. Try to get that property out as possible to the right people. I'm not saying go out and blast it, because you don't want to whore around the property, right? Nobody wants the property that everyone's already seen. Be selective, but be quick. Time kills all deals. The sooner you close the deal, the sooner the money's going to go in your pocket. Normally we have a cash cycle of 30 to 60 days per property, but why be average, right? Why wait 60 days when the situation— that you found a buyer that he's ready to close as soon as possible, or you have a seller that's itching to get his money, right? You should be itching to get your money too. Time kills deals. Focus on speed and and on quality, and you will be rewarded. That's just 3 pieces of advice that I wanted to give you guys on this early morning, 7:14 in the morning. Lock the fuck in, or somebody else is gonna do it for you, and they're gonna get the results that you supposedly deserve, but you're not doing what you need to do to get there. If you guys got any questions, got my Instagram down below. We also got a free training down below. If you guys want to check that out, you might want to get coached by me. If so, fill out the application and we'll go from there. You guys have a great Friday. Lock in or fucking clock in.