Posted on: May 26, 2020

Let us crush a common misconception: you need to have a huge capital to start a wholesaling business. Nothing can be farther from the truth! If anything, you can start your wholesaling business at any time you deem fit even if you have zero capital!

If the idea is enough to get you excited, you’re in for a treat! In this episode, TTP coach and wholesaler extraordinaire Brent Daniels provided a step-by-step guide for those who would like to get into wholesaling without spending a single cent!

Have a pen and paper handy and be prepared to take down simple, straightforward, and easy action items you can instantly implement. With Brent’s expert guidance and some hustle and creativity thrown in, you’ll be running a successful wholesaling business before you know it!

Key Takeaways

  • Decide to make your wholesaling business your obsession
  • Download wholesaling podcasts and listen to them
  • Drive down your street and write down the addresses of properties that need some love
  • Drive for dollars virtually
  • Get the DealMachine app
  • Check out the TTP site for a script you can use
  • Time block and commit to the business
  • Get at least 300 addresses of distressed properties

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Episode Transcription

Speaker 2:
If you had to start your wholesaling business over, you didn’t have a lot of money to invest into it. How would you start getting deals? And I think that this is absolutely critical guys, because listen, you don’t have to have a lot of money to start wholesaling real estate. And I’m going to break it all the way down, I’m going to break it down if you have $0 and if you have up to $500. We’re going to keep our budget at $500 because we’re going to really stretch ourselves, we’re going to push ourselves to get a deal without having to spend a lot of money. Because the point is to keep the money that you make.
So starting out, here’s the number one thing that I need you to do. And I talk about this time and time again, but you need to make the decision that real estate wholesaling is going to be your obsession, your obsession, your obsession. I am telling you, if you’re thinking about three or four different businesses that you’re getting started with, or you’re just kind of interested in wholesaling. Don’t start, you need to be obsessed with this business because I’m telling you, if you get obsessed with this business, you absolutely are going to change your financial life. I’m telling you, it has happened, it happened to me, it has happened to countless other people. I mean, it is absolutely incredible, this is the best business.
Now listen, if you’re starting out with no budget, the first thing that you’re going to do is you’re going to download every wholesaling podcast that you can. Wholesaling, Inc has a great one, Wholesale Hotline is great, Max Maxwell has a great wholesaling podcast, Wholesaling Elite, download those. And that’s what you’re going to listen to because I need you to put all these good thoughts in your head. You need to educate yourself, this costs $0 out of your pocket. And you’re going to get so much great instruction, information, and education from those podcasts that it’s going to keep you engaged in this business, it’s going to keep you motivated.
Now the first thing is this, the key to this business, let’s set the foundation, the key to this business is to source real estate opportunities. That’s what wholesaling real estate is, source real estate opportunities. The number one key to that is consistent, quality conversations with distressed property owners. Why do I keep saying that? Because distressed property owners is where we are going to start, that’s the focus of your business, distressed property owners.
Now you can spend thousands of dollars and get very specific lists on probates, on pre-foreclosures, on tax delinquent properties, on properties that just got inherited. But no, let’s start this. Listen, drive down your street and any properties that you see need some love, that’s who you’re going to go after. That’s who you’re going to go after, that costs you absolutely nothing. And also if you don’t even want to leave, if you want to stay in front of your computer and not even leave your house, you can virtually drive for dollars. And that’s just going on Google and checking out properties that need some love, writing down the addresses, so you’re going to write down these addresses, that costs you nothing. Nothing, nothing, nothing.
Now what you’re going to do, if you want to keep your budget at $0, is you’re going to go to your County recorder’s website, just type in whatever your County is, recorder office, and start pulling up who owns those properties. It’s all public information. How beautiful is that? It’s all public information. Now let’s go into a little bit of budget, let’s say you got a little bit that you can throw into this business. For $40 a month, you can get the deal machine app. Why do I always talk about this? Because it is absolutely critical for your business if you have the budget to spend $40, make sure you use the coupon code TTP or it’ll be $50. So we’re saving more money, TTP code, deal machine. That’ll already pull up the owner information.
And now all you need to do, is you have two options to do this with zero budget. You can go to their door and door knock on the door and see if they would consider an offer, see if you can catch them at home, see if you can have a good conversation. Just start out and say, “Hi, I know this is out of the blue, but I just was in the neighborhood and I’m interested in buying a home in the neighborhood and I wanted to see if you would consider an offer on your property.” And then just shut up. And then they’re going to respond. And we get into that in different videos, but not right now.
Right now, we’re talking about how to get a deal for under $500. So you can do that absolutely for free, you can literally just drive around and you don’t even have to write down addresses and knock on the doors that you see that need some love and start building your business that way, it costs absolutely $0. Now for $40 you can do it virtually, you can go to deal machine and you can get all the owner information, and then you can get the phone numbers for those properties.
Now, listen, if you want to do it for free, you can do a reverse lookup on white pages, whitepages.com. And I’ll be honest, I think that the information’s maybe 10% or 15% accurate, it’s not very accurate. I looked up my own house and I don’t know who they are pulled up that lived there and the phone number was way off. But you could get lucky and you can start building it that way. And then you get the number and then you pull out your phone … I don’t have my phone. You pull out your phone and you call them up, you just call them up and you ask them if they would consider an offer. If you don’t know what to say, talktopeople.com, check it out, there’s a free strip there, it’s the most effective calling script of all time. Talktopeople.com, check it out.
But you can just fumble and do whatever. If you don’t want to go to the website, you don’t want to do it, you can just go and call them up and say, “Hey, I wanted to see if you would sell your house. I wanted to see if you would consider an offer.” You can fumble, but just clean it up, just use the script. Anyway, that’s free if you can get it off the white pages, if not go to batchskiptracing.com. Put your addresses into that website, they’re going to give you the most accurate phone numbers. And then literally just pull up your phone and you just start calling. Literally just hand dial and start building up that endurance, start building up these conversations that you’re having. I mean, how incredible is this business? Literally for $0, you can go knock on doors and start getting a deal of $5,000, $10,000, $20,000, $100,000 deals from one conversation, I’ve seen it every single week.
Every single week somebody reaches out to me that has made over $50,000 on one conversation. You can do this, I absolutely know that you can do this. But you can do it for $0 because I want you to keep your money, you don’t have to spend it, but you got to educate yourself. You got to be obsessed with this business and you’ve got to be consistent. You have to time block when you’re going to commit to this business, because I’m telling you if you’re in the military, if you’re a firefighter, if you’re a nurse, if you’re a teacher, if you’ve got a nine to five job, if you do not time block for this business, your schedule will completely steam roll your productivity. You know it will, so be consistent, make sure that you time block, make sure that you take this business seriously because I’m telling you.
I mean, the average person makes what? $30,000 a year. I don’t even know. I know that 68% of Americans have less than $500 in their savings account. I am telling you this will absolutely change your life, real estate wholesaling will change your life. If you are being proactive, if you keep your expenses low and if you are completely obsessed with this business.
So let’s look at the budget here, let’s break it down a little bit here. $40 for Deal Machine. And I want you to get 100, 200, 300 addresses of properties that are just in distress. Now it costs on average 15 cents for Skip Tracing, so for 300 Skip Traces, that’s $45, this is under $100. Under $100 you can start in this business and start really building some momentum. And I’m telling you, when you pick up the phone and you have that first conversation with somebody that will actually consider doing business with you. Oh my gosh, you get so nervous, you get so excited. All the synapses in your brain are firing off, everything is just alive. I want that for you, but you have to take action. I know you’ve got this, get out there, get your first deal for under, not even $500, under $100, you got this. I love you, go out there and talk to people. See ya.

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