Summary of "What an 8 Figure Wholesaling Sales Funnel actually looks like"
In the video titled "What an 8 Figure Wholesaling Sales Funnel Actually Looks Like," presenter Zackin shares insights on creating a successful Sales Funnel for wholesaling in real estate, drawing from his own experience of generating over eight figures in assignment fees. He emphasizes that the fundamental processes for achieving significant income are similar to those for making initial earnings in wholesaling, with the primary focus being on marketing and making offers.
Main Financial Strategies and Business Trends:
- Sales Funnel Structure: The Sales Funnel is crucial for converting leads into deals. It involves understanding the seller's motivation, the condition of the property, the timeframe for selling, and the price (MCTP).
- Marketing as a Priority: Effective marketing is essential for finding Motivated Sellers. Zackin highlights the importance of direct mail, cold calling, and text blasting as key marketing strategies.
- Joint Ventures (JVs): A significant portion of Zackin's revenue comes from Joint Ventures, indicating a trend towards collaboration in wholesaling.
- Niche Marketing: Targeting specific lists such as probates, pre-foreclosures, and high-equity properties is emphasized as a strategy to maximize success.
- Virtual Wholesaling: As local markets become saturated, Zackin discusses the shift towards Virtual Wholesaling and the importance of adapting marketing strategies accordingly.
Step-by-Step Methodology:
- Identify Motivated Sellers: Focus on finding sellers who are eager to sell their properties.
- MCTP Framework:
- Motivation: Understand why the seller wants to sell.
- Condition: Assess the condition of the property.
- Timeframe: Determine when the seller wants to sell.
- Price: Discuss the price the seller is looking for.
- Appointment Setting: If the seller meets the criteria, set an appointment to discuss the deal further.
- Contract Signing: For in-person deals, aim to write a contract during the appointment. For virtual deals, secure an agreement over the phone before seeing the property.
- Utilize Technology: Use software like X Leads for marketing, list pulling, and managing deals efficiently.
- Joint Venture Process:
- Submit deals for underwriting.
- Sign a JV agreement if the deal is viable.
- Market the deal to potential buyers using X Leads.
- Conduct a walkthrough and finalize the deal.
Presenters/Sources:
- Zackin (Presenter)
Category
Business and Finance
