Make $1 MILLION Dollars in Wholesale Real Estate

so I had a private one-on-one coaching student in my office for two days and I want to talk about real quick the big takeaways that I think can help you make a big difference in your life this coaching student I'm not gonna tell you where what market is in or who he is of course for privacy reasons but this coaching student does about three hundred to three hundred and fifty thousand a year in wholesale deals out of this specific market right three hundred to three hundred fifty thousand dollars a year he knows how to close he's actually really good at closing he understands a process of closing understands how to do basically structured downpayment arbitrage deals to a certain degree but here's his question that he had right he's been stuck at about three hundred three hundred and fifty thousand for the past three years now think about this you guys may be getting started and you'd be a static to make three hundred three hundred and fifty thousand dollars a year wholesaling houses isn't working for yourself this guy's been doing three hundred three hundred fifty thousand dollars a year but stuck doing three hundred three hundred fifty thousand dollars a year and wants to get a million but doesn't know how so he came to me and said what's up what's up how can I go from three hundred and fifty thousand dollars a year as a solopreneur wholesaling houses he knows about the different marketing methods but really not exploding it how can I do that and get to the next level how can I get to a million dollars so what I want to talk about in this live is someone what it takes to do a million dollars in revenue and it's interesting because I really had to we talked about the mechanics but I had to get into his head a little bit on the perspective what it's gonna take to essentially do a million dollars in a year in revenue so what's a million dollars in a year in revenue wholesaling houses well you know that's over 83,000 dollars consistently every single month eighty-three thousand dollars every single month consistently wholesaling houses now if you do an average of say you know fifteen thousand dollars a deal that's roughly about 70 deals a year 70 deals a year to generate a million dollars in revenues so he's stuck at three hundred three hundred fifty thousand dollars a year for the past three years and he goes how do I get to a million dollars that's what we broke down so what we did initially first off is we talked about you know what the problem is what the problem is now and then it's basically it went through an evolution so we looked at his conversion numbers on the amount of appointments he's went on the amount of contract amount of leads he's getting the amount appointments and the amount of actual contracts so first off when you're analyzing a situation you got to look at number one look at actual leads coming in or actually you look at the lead generation and then you go to look at conversion it's either a conversion problem or it's a lead problem or it's a mental problem it's either one of those three so for the last two days I spent time with this coaching student it's one on one coaching student and I was looking for is it a conversion problem is it a lead problem or is it a mental issue what's happening with that so essentially what we did was is we dug into first off his conversion so the guy was converting he knew how to convert for the amount of leads he came in they meant appointments the amount of contracts he did not have a conversion problem you should be converting anywhere from 1 in 12 to 2 to 1 in 15 max anywhere from the amount of offers to contracts is a average type of conversion you're doing a great conversion your conversion one in twelve offers are turning into actual contracts so he was converting one in about twelve one in about thirteen actual offers were turning into contracts so his conversion was not a problem so if I was gonna sit down across from you and you and I were gonna do a one-on-one coaching session I would dig in your numbers and try to find out if is it a conversion problem is it a lead problem or is it a mental problem right so I would ask you I'd say listen let's look at your numbers let's look at your numbers historically those are your numbers for the past six months how many leads did you come in how many appointments did you go on how many physical offers you make and there's gonna be something that's going on there and it's gonna trigger something that we could change right so when it came the amount of leads he came in two appointments this lead to appointment conversion number was good that means that number should be roughly about eighty percent so the amount of leads you get to the amount appointments you make that number should be about eighty percent so if you get basically a hundred leads you should get eighty appointments that means you're booking eighty percent I'm talking about viable leads coming in I'm not talking about leads coming in where the seller doesn't want to sell or they want retail or whatever I'm talking about actual viable leads she should book about 80 percent of us so he was booking about 80 percent of the leads that came in and went on appointment now we did talk about a qualification issue there was things he was doing on his qualification that we changed which I'll talk about here in a second but the bottom line is there is a no lead because so his conversion was not a problem we dug into that it was not a problem the next thing we got into is actually how many leads he was getting over a course of time we took it back to the first of the year of January silat we looked at how many actual leads or opportunities have you had and when we dug into it and we found out he didn't have a conversion problem he was converting great he had a lead problem he was spending $5,000 a month on Google AdWords and he was converting unbelievably well but he wasn't able to generate enough lead he was bouncing from source to source to source to source to source to source instead of taking a source scaling it out adding another source killya and turning around in adding multiple sources in going big on all those different sources so here's here's what we told him and you guys get to get the benefit of the actual two days of a boil down into a 20 minute live cast here of what what we're talking about so here's what I told him and here's what we did we basically went out and identified the fact that he had a conversion a lead problem so we have to generate a mast amount of leads as fast as humanly possible into his system so what we did was went into front-flip more houses the new software rei Automator that program of flip more houses combo went in there and we basically looked at his market and he has about three different counties he's targeting and we went out there and we pulled all the distressed lists in his particular market in the distressed list of pre foreclosures the distressed lists are high equity with liens is a stress list or all the vacant properties is a stress list what's the other one we hit we had uh we hit the ones with moon 200mls failed listings properties were MLS and they failed so those lists we pulled that list in that list resulted in about 9,000 9,000 9,000 s not enough 9,000 is not enough for us to go in and target and generate leads off right so what do we do we have to get to a number of round 40,000 so he can send and we can target 40,000 in a matter of a month that we're going to target we're gonna talk about targeting here in a second so 40,000 so that's what we want to go to because our goal is to get to a million dollars in revenue as fast as possible so he has to get it in front as many people as possible so we're gonna talk about mindset here in a second so 40,000 right 40,000 so what we did was is we said okay we've got to go a little bit broader when it came all the distress this led us to 9,000 so we have to go broader so then we went into list source and we pulled all the unknown list what's called the unknown and that's the unknown length of ownership unknown that brought us to about 16,000 so now we have sixteen thousand nine thousand so we have about was it twenty-five thousand roughly names we still we still need to get the 40 right so we need another 15 thousand names more where can we get them so we went into listeners and we what we did is we found the highest cash transaction ZIP codes is cash transaction and we went to those zip codes and we went with the properties that had 10-year ownership that were properties 10-year ownership that we could target in those specific zip codes and we call that the perfect property avatar list so we had 9,000 distressed we had about 16,000 unknown brought us to about 25,000 now we had 15 so we had another 15 16,000 that brought us to 40,000 so the mission is I've gotta hit 40,000 people in a month that we're gonna talk to now what we did is we sent a direct mail to the 9000 so what he's gonna do is he's gonna the goal is to hit 10,000 every single week 10,000 postcards every single week then we took the list and we skipped traced the list and we're a skip trace to list and we're going to then now our VM to list all the cellphones we're gonna voice broadcast all the landlines and then we're gonna text all the cell phones so now we're gonna surround it then we're gonna extract those and we sent an email to let an email to all the sellers that we had emails from melis so here's what we're doing we're taking a specific list and we're surrounding that list they're getting a postcard they're getting a voicemail they're getting a voice broadcast they're getting a email from us then they're turning around and now they're going out and we're uploading it to Google and we're doing a retargeting campaign on Google so anywhere they go on Google they're gonna turn around and they're gonna see his ad so now we're surrounding that seller now one-on-one coaching student in my office and we had to diagnose the problem how can I get him to a million dollars a year is fastest humanly possible he's gotta up his game so now we went to the mental side of it right so we're sitting there talking he's a great dude and we said listen we're sitting there talking and he said well you know should I hit all these people at once should I hit him all at once should I you know should I should I turn around and me oh I hit him with mail should I take it overtime and hit him with mail then you know the next week hit him with some you know voicemails in our VMs then hit him with some voice broadcasting and then I should text him maybe the next week and and what did I say right what'd I say no think about it he's used to making 350 thousand a year right a year so I gotta get him thinking now how to make 350 thousand a month versus a year do you think the activity of someone that's making 350 thousand dollars a month is different from the activity of someone making 350 thousand a year the activity is completely different so if you listen to Ed my lad and what you gotta listen to is a phenomenal individual he talks about there's a perspective where you have to raise your temperature you have to essentially it's your identity you have to change your identity and identity is what you believe you're worth and the only way to change your identity to do essentially increase the ability to believe you're worth making three hundred and fifty thousand a month from three hundred fifty thousand a year big shift right big shift is you have to take unbelievable raw wenting massive ridiculous audacious obsessive insane action action that sends it like out of your realm action so he goes well you know should we send them you know should we you know we sent him a postcard and maybe next week we'll do a voice broadcast and then you know couple of days you know cut for five days later we do our VM and then we can send him you know you know then we can hit him with text no you do all of it right now and then next week you go out and you rehash the list and we get the new list and you do that right now you hit him with a postcard you hit him with our VM you hit him with a voice broadcast you hit him with the text you hit him with the email you hit him with the retargeting you do it all right now and he's like whoa I had no idea because guys listen he was he's stuck in this zone of making three hundred and fifty thousand dollars a year I gotta get him mentally of saying I'm gonna make three hundred and fifty thousand a month there is a complete different action there's a complete different set of principles there's a complete different set of intensity level in what you're gonna do you don't wait till go do something you do it right now all the time all over right now it's funny they asked me show you know you know how many texts you're gonna be sending and what you're gonna be doing about my time like do it just do it get it done get it all done right now why wait why wait well what if I can't into the leads but what if you can what if you can handle is what if that listen if you get all that the low-hanging fruit and they come down and you get those deals and you lock them up and you're going around and you have a couple things slip through the cracks you're gonna hit a hundred a hundred and fifty if you shoot for $350,000 now think about this think about this I just want you guys think about this if you're used to making $50,000 a year do you think you different at 50,000 a month do you think your thinking's different your action different your attitudes different well think about it think about $100,000 a year versus $100,000 a month you operate at a different level so you guys come here and you come into these you know these Instagram lives and stuff like that and you want to make a million dollars a year and I want to get rich and I want to go out and do whatever you're gonna do and make it happen right you want to do that the bottom line is this is that look at what you what look what's the most you ever made in a year right and then take that and 10x your energy your action right and people go well you know you know I I wake up at 7:30 8 o'clock I roll out of bed I get some coffee I take a shower I go to work I come back you know how to take lunch off and you know then I turn around and they come home and you know I you know sit back and because I'm tired because I want rush-hour traffic a crack open a beer watch a little TV I don't think so you're not gonna make a million dollars here like that are you kidding me right are you kidding me no you're gonna wake up earlier you're gonna go to bed later like guys I go to bed 11 12 o'clock at night and I wake up at 5 o'clock in the morning every day I don't have to why I love to I want to why massive massive amounts of ridiculous obsessive crazy psycho action will change your universe it's gonna change it right you want it you want to do something right now but think of what it would take for you right now to make 350 thousand dollars a month what would it take for you to make 350,000 dollars a month right won't it take right I mean the bottom line is I all I can tell you I mean there's weeks we do two hundred two hundred fifty thousand a week in revenue a week what would it what would it take to do two hundred fifty thousand dollars a week in revenue the bottom line is this is that's a different action a different intensity a different level of expectation of raising your temperature gauge like Ed my let talks about raising that temperature gauge for a burst and you crush it harder than you've ever crushed it before listen you come hang out with me there is no time to sit down we're going 110 miles an hour all day every day right and and listen you're wondering how do you sustain that how do you sustain this intensity level how do you sustain this energy how do you sustain this passion because you have to revisit your goals every single day you have to revisit your big why what you want to accomplish what you want to do what you want to happen when you put forth that energy and effort of what you think you know so here's what happened with him he was coasting along thinking $5,000 a month in marketing and trying to figure out how I'm going to get to that how am I gonna get to making three hundred and fifty thousand dollars you how am I gonna get to it I said listen bud you gonna take your five thousand dollars a month sixty thousand dollars a year and then you got to flip that on its head five times it and commit to doing three hundred thousand dollars a year in revenue I mean 300 thousand dollars a year spend 300 400 500 thousand dollars a year I know guys that are dropping a hundred thousand dollars a month just on direct mail just don't direct mail and crushing it look at where you currently are and if I was gonna diagnose you and use you came to me and said Sean I want you to show me how to make a hundred thousand I'm a million dollars a year Sean how do I make a million dollars a year right first off we look at your li your conversion are you converting your actual leads that are coming in are you converting so I'm gonna look at starting from January the amount of leads that came in the amount of appointments that you went on and the amount of contracts that you the man offers you made an amount of contracts you signed those are all numbers that we can look at analyze and we can make tweaks on now I'm going to tell you his lead Chu appointment ratio is good but guess what he was qualifying out sellers on equity so he talked to a seller they're motivated they have a nice property they want they need and want to sell and then he find out what they owe and find out what the property is worth and he qualified out the property and he wouldn't go on the appointment right so what I showed him on the whiteboard I broke it down I said listen dude I said you know you as someone with no equity I showed him how he can make $40,000 on a deal and still give the seller retail right we took a lead that he came in that was right there we analyzed it and the thing he got a lead a PPC lead that came in a pay-per-click advertising it came in and it was in in my office and and we the lead came in and we analyzed it right there he was gonna throw I said what are you gonna do with this deal what are you gonna do with this lead and he goes I can't make it work man I can't make that laid work right I looked at this particular deal I looked at this particular lead that came in and and he was gonna pass on that lead because of equity so we got into his decision process of why he was passing on this lead so we broke it out on the board and I showed him how he could give this seller retail and still make $40,000 $40,000 on a deal the he was gonna pass on and guess what all the competitions passing on it all the competition was passing on those deals why because he did he didn't know how to give a sell in retail and still structure a deal where he could turn around in arbitrage down payments we talked about a down payment arbitrage and turn around and make a $40,000 profit on the deal and a seller being happy so here's the deal the bottom line is when you're doing this business and if I was gonna analyze you first off I would look at the amount of leads came that came in and looked at your conversion if your conversion was on point if it's not off point that means you're converting one in twenty one in twenty five offers you're actually getting signed then it's a conversion issue right then we got to talk to you we got are we gonna go okay listen it's a conversion now I would dig in and find out what you're telling the seller what are you trying to solve the problem what is and then I talk about the nine step seller conversion sequence what I find is if it's a conversion problem then they're doing something in the house that's not going they're not building a level of rapport or they're essentially not closing I worked with a coaching student once and he would not actually ask for the clock he wouldn't ask for the clothes he wouldn't close the deal he would turn around go you know so you want to do it you want to sign up with me and people like now I don't sign up with you you know don't forget about it right and they wouldn't do it and otherwise when instead of asking a closing question so here's the thing if I was looking at you and I was gonna analyze you if it's not a conversion problem then we're gonna look at leads and they're gonna identify the amount of leads coming in over a period of time let's talk about you making a million dollars right now if your average deal size is 15,000 you have to do 70 deals a year right 70 deals a year if your conversion is 1 in 12 1 in 13 that's like what 1 in 12 1 in 13 so you know 13 let's call it 12 times 70 10 times 70 is 700 so you need a little over 700 potential offers right that you're gonna make over a 12-month period if you divide that by 48 weeks that's roughly about 19 18 and 19 a point offers that you have to make a week so you collectively as your team as you if you want to make a million dollars wholesaling houses you have to make 19 offers a week to generate the amount of contracts because your goal is to get 70 contracts at $15,000 and your goal is to do that you're gonna go out and you're gonna make a million dollars in this business making so if you want to leave this live cast right now and you want to go you know what I gotta convert one in 12 and I gotta go out there and I've got to bust it and I'm gonna make 19 offers well then you go how do you make 19 offers how where can you find 19 offers well listen that's where you up your game that's where you put more marketing guess what if you don't have marketing handwrite letters from your kitchen table like I did when I first got started I didn't have a marketing budget I hand wrote letters from the kitchen table I got lists of pre foreclosures I went now knocked on doors when I could knock on doors I came home that night and I hand wrote letters you know what I do today if I was you I would turn around and I will Co call I will call call until my until my ears are bloody talking to sellers doing whatever it took right you can co call and you can talk to more people and you can turn around and make more offers and more people you know going out and doing that to make a million dollars the bottom in the bottom line is you're gonna raise your game raise your intensity and do more so think about if you're gonna do 19 offers what would it take for you to do 19 offers right what it takes to 19 offers you'd have to go out there and crushing you have to go talk to sellers when you go meet with sellers you'd ask for a referral right then you turn around and you'd have to go you'd have to go knock on all the sellers doors all around the property right to go knock on their doors if you had to you have to go talk to these sellers that are on the for sale by owner or vacant properties you put a vacant sign in the front yard you go out and you would do whatever it took to go around and be able to talk to these sellers you would do whatever time you would you would Co call the people you had to Co call you'd send direct mail the people you had to surrender send direct mail to you and you would have an intensity where I have to make 19 offers a week or I'm not going to bed and if you had to make 19 offers a week you would if you had to the problem is people don't believe they have to they give themselves off the hook you guys go out there and crush it turn up your intensity turn up your energy turn up your volume turn up Veon here's the thing you want to go for making fifty thousand year 60 thousand a hundred thousand dollars a year – a hundred thousand a month right 300 thousand dollars a month you have to up your game you have to turn on the intensity you have to do more ten times more than you ever thought you had don't wait to CERN turn on some marketing don't wait to send letters don't wait to do texting don't wait do it all and do it all right now and guess what you're gonna get a flood of sellers you're gonna blow up you're gonna blow up and you're not even gonna know what's gonna hit you you're just gonna blow up and you're gonna a holy cow you're gonna do more deals have more success once you flip that switch you'll net once you stretch you never go back once you stretch your rubber band you never go back right you never go back and see you guys have what it takes I know you want it there is not one person on here that could tell me that they're not qualified they're not able they're not good enough you know you are all good enough you all have the ability you all have what it takes because we all have in common listen I don't have a high school education I mean I don't have a college education to pip a high school education barely and that season DS I have a I joined the Marine Corps because that's the only thing that would take me I I'm not the smartest guy whatsoever but I can tell you I am have more persistence in perseverance and I know if it's dumb perseverance or dumb persistence but the bottom line is you can have that too because it's a choice right it's a choice so if it's a choice and you have that choice to turn up the intensity you and I control that we both control that we control how much energy and effort we put out that makes us all the same the same the exact same so go out there crush it make it happen tonight sit down and figure out how you can raise your game to the next level where you don't have an ounce of time in the day that's idle and you go out there and crush it and go out there make it happen so have a fabulous night love you guys go out there and crush it god bless

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