Podcasts

Episode 81: An Inside Look at a $40M Wholesaling Business

Mark Evans DM is an all-star in real estate investing. He gave us some advice a few months ago, we implemented it immediately, and it it has catapulted our business to the stratosphere!

In today’s episode, we’re going to dig into that incredible advice and teach you how to grow your Wholesaling business.

Data (Not Drama)

This was the advice that completely changed our business: “Data, not drama.” You may not realize how often people in your life bring you information based on their emotion, and not based on any actual data.

Mark doesn’t care if you’re broke, rich, famous, or what is going on in your life – all he cares about is what activities are being done daily to get results. “The data gives you direction to growth.”

Looking at the Business

Mark has a big team in Palm Beach, FL. They…

purchase everything in-house because they have the capital to do it, and it allows them to serve the turnkey investor world.

mostly sell single family houses that cost $30-60k.
try to sell properties within 21 days of starting the purchasing process.
get 99% of their deals are found through direct mail.
try to get at least 60 deals a month, which adds up to ~$40-50M in gross revenue from single family properties.

How to Start Building a Wholesaling BUSINESS

Anyone can learn how to sell real estate. The processes are out there and they’re proven. However, you can’t be really successful at selling real estate unless you build a good business.

In fact, if you’re just starting to do Wholesaling full-time, you’re probably working more than you were before.

It’s time to start building a business that works without you!

Create a top-down chart of your organization. Who is everyone, what are their roles, etc.
Reverse-engineer the process and identify what you are spending the most time on that you can delegate, then hire someone to do that. It will save you a ton of time that you can now focus on building the business.
Periodically review the last few deals that you’ve done so that you can learn about your buyers’ buying criteria. By looking at the data behind successfully closed deals, you’ll learn how to identify and price properties to sell.

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