Summary of 🔥 How to Wholesale Fire Damage Properties🔥 (Step-by-Step)

Main Financial Strategies and Market Analyses

• Understanding Fire Damage Properties
  • Fire Damage Properties are not always severely burnt; they can range from minor kitchen fires to significant structural damage.
  • Many properties can appear normal on the outside but have internal damage that needs to be assessed.
• Acquiring Fire Damage Lists
  • Obtain lists of fire-damaged properties from local fire departments. This is typically done by visiting in person and being polite and respectful.
  • Building rapport with firefighters can help in accessing these lists more easily.
• Marketing Strategies
  • Cold Calling: The primary and most effective method for reaching out to homeowners of fire-damaged properties.
  • SMS Campaigns: Less preferred but can be effective if personalized.
  • Reverse Driving for Dollars: Physically look for properties that may have fire damage and leave notes for the owners.
• Making Offers on Fire Damage Properties
  • Use insurance estimates to determine repair costs, which can simplify the offer-making process.
  • Assess the level of damage (minor, medium, heavy) to determine the appropriate buyer pool and pricing strategy.
  • Ensure to secure significant discounts on heavily damaged properties to make them attractive to cash buyers.
• Identifying Buyers
  • Different types of buyers are needed for varying levels of damage.
  • Smaller damages can attract regular cash buyers, while medium to heavy damages require specialized buyers with experience in handling such properties.

Methodology/Step-by-Step Guide

• Step 1: Understand the nature of Fire Damage Properties.
• Step 2: Acquire Fire Damage Lists from local fire departments.
• Step 3: Market to these property owners through Cold Calling, SMS, and Reverse Driving for Dollars.
• Step 4: Make offers based on insurance estimates and the level of damage.
• Step 5: Identify and connect with the appropriate buyers for the level of fire damage.

Presenters/Sources

Rick (also referred to as "Rick and Flip with Rick") is the main presenter, sharing his expertise and personal experiences in Wholesaling fire-damaged properties.

Notable Quotes

— 04:28 — « If you want to be ordinary, go do your nine to five job. »

— 04:28 — « If you want freedom of time, you want to make a lot of money and do what you want, that's what I'm here to teach you. »

— 04:28 — « If you will do the things that other people are unwilling to do, you will make a crapload of money. »

— 04:28 — « You have to take the action and get it done. »

— 04:28 — « If you don't get it under contract for the right price, you will struggle to sell it. »

Category

Business and Finance

Video