How To Make $100k THIS YEAR Wholesaling Real Estate

So I've made this little spreadsheet here. Now this is very similar to what I use in my business in order to forecast what we need in order to hit our financial goals, but I've tweaked it to show what would be very possible for a beginner. So as we can see here at the top, the months left in the year, we've got 7 because the goal here is to make $100K this year, not in the next 365 days. So we have 7 months to achieve that. And then it splits everything down to how many leads you need in order to get contracts, in order to get the amount of closings you're looking for, in order to get your goal gross profit. So we have here a goal gross profit of $100K, and we have that we should be making on average $15K per deal. Now, this number should be higher, especially if you're doing this all by yourself, but I'm gonna go ahead and err on the side of caution in all of these numbers here to make sure that we are really setting ourselves up for success. Now let's go over some of the other important numbers. Right here we have the lead to contract rate, and we have it at 1.5%. So what this means is that out of every 100 leads you get, you should contract 1.5 out of them. Now this turns into roughly 1 in 70 leads, and this is important because you have to be working off of good data. Now I can tell you in my business and in other people's business, the industry standard is to convert 1 in 70 cold call leads. A cold call lead is going to be the exact way that I teach you how to find leads on my channel by pulling lists, skip tracing them, and then reaching out to them and seeing if they want to sell. If you pull a list of motivated homeowners, you reach out to them and you say, hey, do you want to sell? And they say yes. It doesn't matter if they're asking for $1 million or whatever it is. As long as they say yes, I'd be interested in selling, we count that as a lead. You need to get 70 of those in order to turn into one contract. Now we have here the contract close rate, which is saying that for every 8 contracts you— or I'm sorry, every 10 contracts you get, only 8 of them will close. Now we account for contract fallout rate because things happen in real estate deals that will prevent you from closing the deal. You can't, you can't close every single contract you get because there are external factors that will prevent you from doing so. Most common are title issues or issues with the seller where they're actually unable to sell the property. And then also, especially starting out, you can run into issues where maybe you purchased the property for too much money and were unable to find a buyer. And that's something that we can all help you with. But let's just assume that for every 10 contracts we get, 8 of them will close. And on every single contract, we're going to make about $15,000. What this means is that every single week we need to get 19 leads. Those 19 leads every single week, 4 weeks in a month, will turn into 76 leads a month. Remember, we should be closing 1 in 70 of them. So that will equate to 1 contract a month. Which also should be one closing a month. This means we need to get 533 leads a year in order to get 8 contracts. We'll close 7 of them, and that will get us to our goal of $100,000. Now I have over here the cost per lead. Now this is saying— this is— these are correct numbers here. For every single cold call lead, it will typically cost you about $40 if you are using a VA to call through your leads. So from the, all of the software subscriptions you need to pull the list, the skip tracing it costs to actually get the phone numbers for the properties, and hiring a VA to cold call them will cost you about $40 for every single lead. Now, in order to get 76 leads a month, that means we'll be needing to spend about $3,000 every single month on our marketing in order to get these numbers. So if we are able to spend 3 grand a month on marketing, we should be able to get 19 leads a week And if we are diligent about working those leads through a proven sales process, then we should be able to get one contract a month. One contract a month for the next 7 months at $15,000 will get you to your goal of $100,000. Now, this might seem a lot to you. Maybe you're saying things like, I don't have $3,000 a month to spend on marketing. Or even if I get these leads, I'm not sure what to say. I don't have a proven sales process. I'm not sure how all of that works. That's exactly why I've made Wholesaling 101. Wholesaling 101 is my introductory program to show people how to get their first deal in real estate. It's going to cover everything from how we generate the leads, how we pull the list, how we skip trace them, to how we get them locked up. How do we have the conversation with these homeowners to see if they're going to be a good fit to work with us so that we can take care of their problem house and get paid in between. I have the exact sales processes, the scripts, everything you need in order to start generating leads and turning them into contracts, and then even how to find buyers for your contracts. I'll show you exactly how you can find cash buyers in any state across the US and be able to pitch your deals to those cash buyers, as well as show you everything on the title end of the process, meaning how do we find a title company, what documents do we send to them, what lines of communication do we need to open to ensure that the transaction closes smoothly, all of that is provided within Wholesaling 101. Now, the second big thing is people say, well, okay, even if I did, even if I was a part of Wholesaling 101, I don't have the $3,000 a month to spend on marketing. Here's the thing, there's a couple things here. This is for paying for data, skip tracing, and VAs. Now the nice thing about being a part of Wholesaling 101 is we provide data for you. I pulled lists that are included in Wholesaling 101 that you can go through and cold call and start finding deals. So you don't even need to start paying for data. Now also, we have VAs factored into this list. If you're just now starting a business and you don't have money to hire a VA, that's totally fine 'cause you can just cold call them yourself. This is gonna do two things. Number one, it's gonna build your sales skills. You don't need to have a VA to get started because if you cold call yourself, you're gonna learn the sales process so much better. And that way, once you start to get a couple deals, you're able to hire a VA. You're actually able to tell them what they need to do because you've done it yourself. So I highly recommend everybody who gets in this business to start cold calling anyway. So you should be able to join Wholesaling 101, you'll have enough data to call through these people in order to get 19 deals a week or 76 a month in order to hit your goal of making $100,000. You see how we make sure that we reverse engineer everything so we know exactly what we need to do every single day. So in order to get 19 leads a week, let's see, if we are only planning on working Monday through Friday, which I would recommend you work every single day, but let's say you only want to work 5 days a week, then you need to generate 3.8 leads a day. Meaning that every single day you need to keep talking to people until you find at least 4 people who say, "Yeah, I'd be interested in selling." And then we need to be consistently following up with them and keep making them offers until they eventually, we get one who says yes. And then we just keep repeating the process and over enough time of doing that, if you follow this, these are accurate numbers. And every single month you get 76 people who say, "Yes, I'd be interested in selling." You continually follow up with them. You continually make them offers for the property. Then by the end of the year, you should have had 8 contracts. Maybe only 7 of them close. And if you sell all of them for a $50,000 profit, then you will hit your goal of making $100,000 this year. So for the link or more information on Wholesaling 101, you can go ahead and click the link down below. And also I have tons of other free videos on YouTube that will show you different steps of the process. So you can go ahead and get started today. If you found this video helpful, please leave it a like. If you have any questions, drop them in the comments. And if you haven't already, make sure to subscribe to the channel. We're getting really close to hitting my goal of 2,000 subscribers and every single subscriber counts. So thank you very much in advance. Now, as always guys, thank you for watching and I will see you guys on the next video.