Posted on: November 07, 2018

Today’s episode is the first installment of a 5-part series where we tackle one thing many wholesalers find extra challenging—breaking through the barrier and getting to the next level.

Sure, you might find yourself closing numerous deals and raking in huge profits. However, at the end of the day, you also feel overwhelmed, exhausted, and just unable to move on to the next level.

Fortunately, Todd Toback will help you break through the barriers and get to the next level by offering exceptional insights, tips, and wisdom that will help you see things from a totally different perspective and move you to action.

If you’re ready to dramatically scale your business and live your best life while at it, don’t miss today’s special episode!

Key Takeaways

  • The importance of asking yourself where you are right now
  • Why you need to pinpoint the areas you are struggling with
  • The 4 key things you need to get a grasp of as a wholesaler
  • Why you need to be truly honest with yourself

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Episode Transcription

Todd Toeback: Hi there, this is Todd Toeback and welcome to this special podcast series on taking your real estate wholesaling business to the next level. Now, if you’re a brand new wholesaler or even if you’ve wholesaled hundreds of houses, this podcast episode is for you. Now, I can tell you when I first got involved in this business, I was looking for freedom. I wanted a business that was going to generate a lot of money in a little bit of time, and I wanted a business that would not make me a slave, and I can tell you that in any business, if you are not constantly refining and trying to get better and looking to get to that next level, this business can absolutely own you. Now on the other hand, if you learn a few concepts that I’m going to be talking about over the next four or five episodes, these small tweaks, okay?
They’re not even big tweaks, small tweaks, will absolutely be a game changer in your business. Now, for those of you who don’t know me, again, my name is Todd Toeback. I’ve been wholesaling real estate since 2002 in some form or another and much like you, I hustled my way to my first deals. I sent out direct mail to a list that I knew nothing about. I was answering phone calls without a script, had no idea what I was doing. I was running around like a chicken with my head cut off. But I was making money. I was hustling and making big checks and it was exciting. And I can tell you that one day my wife looked over to me and I was probably, I don’t know, five or six years into the business and my wife had our third child on the way and I was really working hard trying to provide and I just was like, ah, right.
I was tired and I wanted to make more money and I was tired of working really hard and I just couldn’t break through that barrier. I couldn’t get to that next level. And I said, you know, something has got to change. And so what I did is I actually started to tell myself the truth. The truth was I was overwhelmed and my business wasn’t as successful as I want it to be and I wanted to take it to the next level. So let me tell you a little story because right before I got on this podcast episode, I just kind of wrote down some notes on how I felt at this time. So if this is you, by the way, I’d love for you to, just to yourself, just kind of pat yourself on the back and say that I’m here. So I remember I used to send out mail and I used to wait for the phone to ring and I used to answer the phone calls as fast as I could.
And I used to do that over and over and over again. And then as soon as I locked up a deal under contract, I was excited, I had these range of emotions and I used to email all of my cash buyers and get on the phone with them and start text messaging them in a hurry. And I would sell my property sometimes a little bit less than I should because I had the sense of urgency. I was doing everything myself and I just wanted to move on to the next deal. And I was constantly on the phone with title and escrow and handling title problems and I was running around and picking up checks and going to the bank and depositing these huge checks, which felt really, really, really great at the time. But because I was busy hustling, my marketing really wasn’t getting done while I was doing the deals.
And then I felt like I had to do it all over again. I was starting at square one. Every time I closed a deal and answering that phone to talk to that next motivated or unmotivated seller was a real chore. And so, I hit this breaking point where I knew that I couldn’t work harder and I wasn’t going to make any more money. And I was thinking there’s got to be an easier way. So what I’m going to do in this episode, the title of this episode is going to be, tell the truth. Facebook and social media it’s so great to show a picture of our successes and our checks and our wins, and that is awesome, but I can tell you that staying in your comfort zone, we’ll never take you to that next level. And so the purpose of this podcast series is to push you, to raise you, to take you to that next level with a different perspective of thinking.
What got you here won’t get you there. If you’re looking for a seven figure wholesaling business that can be highly profitable, that can run without you, that can provide your freedom and less stress than you have now. Someplace where you can be a leader and nurture others. Then these next five episodes are for you. What I’d like you to do is write down your truth. Forget about Facebook. Forget about your friends. Forget about all the other people in the industry. What I want you to do is ask yourself, where are you right now? And I’m talking about the truth and nothing but the truth. So my truth at the time, before I took my real estate wholesaling business to seven figures, was that I was extremely overwhelmed, that I was working really, really hard, that I was running around like a chicken with my head cut off, that I was sending out a bunch of mail that I didn’t know which list I was mailing when, had no idea of which ones were productive and which ones weren’t.
That I’d call back sellers when I felt like it, if I didn’t feel like, sellers didn’t get called back. I was doing no follow up. Deals were falling through the cracks. I was underselling my properties to cash buyers because I was just so tired and just wanted to get to the next deal and leaving money on the table. I was dealing with sellers and holding deals together and running to the title company, desperate to cash that next check. And then when I was done, I did it all over again and I didn’t want to do that. And then I wasn’t profitable as I wanted to be. And so that was my truth. And so what I’m going to ask you to do is, if this is a familiar story, and even if you’re making money, you know you’re making two or $300,000 a year, you’re just starting out.
I want you to ask yourself, is this your truth? And if this is not your, you have a different truth or there’s some areas that you’re struggling with, write those down. Be honest with yourself because the only way to grow, the only way to take yourself to the next level is to really pinpoint where you are now. And so that was where I stood. Now what I’d like you to do and again, in the different areas. So for me, the different areas that I categorize my real estate business are marketing acquisition. Acquisition is actually locking up houses. Disposition where we sell houses and accounting. Knowing your numbers, knowing if you’re actually making money or losing money. Now if you’ve got a grasp on these four things and 99 … well first of all, 99% of most real estate investors don’t do anything.
But if you’re in the 1% who have a grasp on these four things, marketing, acquisition, disposition and accounting, man, you are going to have a cash flowing business that’s going to give you real freedom. You can keep this business going, you can keep it growing, you can take that money and throw it into passive investments like hard money loans or apartment buildings or invest it back into your business. But whatever it is, if you’ve got a real grasp of these four things, you’re going to be 99.99% of other investors. So I want you to take a new snapshot. A new paradigm and this is something that we have a next level wholesaling program, that we have all our next level students do and they take the next level wholesaling business assessment and I want you to imagine where your marketing goes out automatically every single week.
Lead after lead after lead comes in consistently. Not too little, not too much. There’s no big waves of marketing and no big droughts and the phone is being answered by somebody on your team who loves to work inside your business and who loves to be led by the other people and they love to deal with sellers and they meet with them and they’re well trained and they lock up deals and you get a text message that says, Hey, I just locked up a forty thousand dollars wholesale deal. I’m so excited. An automatic email and a text message goes out to your cash buyers list, which you never have to formulate and somebody else is showing your properties and properties are actually sold without you actually having to do any of the paperwork and title and escrow. They handle the entire transaction front to back and they communicate with your sellers and they handle all the title issues.
All the while, while you are hands off looking at your business from a 10,000 foot view and every single month cash buyers are being added to your list without your active involvement. And finally, a fresh set, an accurate set of books are being delivered to your inbox every single month without your involvement in the day to day operation, kicking off 30, 40, 50, 60, even a hundred thousand dollars a month net profit to you. I want you to imagine where you are now to what your business could be. Now, the only way to get there, the only way to get there is if you tell yourself the truth. So this, I promise you in the next four episodes, I’m going to give you a ton of content, but again, this is the most important part. If you want to get your business to seven figures and you want to get it producing revenue without you and you want to add team members who you can help grow and in return they will help grow your business and your bottom line.
You’ve got to start with the truth though. This is the teaser episode. So what I would like you to do, your homework in this episode is to totally be honest with yourself. Grab a sheet of paper and I want you to absolutely tell yourself the truth and I’m talking like the ugly truth. Everything that you don’t like about your real estate wholesaling business, I want you to write it down, all your frustrations and things holding you back and things that are really discouraging you. I want you to write those things down. And really in comparison, again, picture what your business could be. I’m going to start to attack these things one by one. All right, so this is episode one. I want you to look out for episodes two through five in this series and I’m really excited and once you have that, then I want you to listen to the next episode. All right, so I’ll talk to you soon. Get your sheet done, get your homework and let’s take your real estate business to the next level.

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