Is wholesaling just your side-hustle? Learn how to earn enough to make it your main thing. In this episode, Brent breaks down the financial freedom blueprint. Learn how to make wholesaling a business that brings massive profits to attain financial freedom and enjoy more time for yourself, family, friends, and others. If you are eager to transition from doing wholesaling part-time to doing it full-time, then this episode is for you. Learn the details of the steps to guide you through financial freedom from Brent. Join him and take notes to remember important points.
Financial Freedom Blueprint – The Exact Steps You Need to Take to Achieve Financial Freedom
When we start in this business, oftentimes we start as this is like a side hustle for us. This is a part-time business. A lot of times, even myself, I was doing this in the in-between times. Lunch breaks, after I’ve got off work or done showing properties. A lot of people entering this business that are excited about wholesaling are doing this with a limited amount of time. That’s where we start out.
We have done zero deals. We have made zero money. We have all this faith, passion and purpose that we want to be financially free but we are stuck in a 9:00 to 5:00 job, stuck with responsibilities with family or we don’t have the schedule that we need to make this an incredible business that’s going to give us financial freedom.
Let me show you the steps to take. These are the exact steps that I believe that you need to take to be able to make this, not only an incredible business that gives you a lot of profits but one that gives you time and freedom. Those are the three words that I want you to focus on. The first step in this business is about profit. This is about getting your first deals. Not only that, this is about being consistent with your first deals.
I believe until you were making $30,000 a month for three consecutive months, you shouldn’t hire anybody. That’s very controversial. “Brent, I want to hire people to make calls for me. I want to hire acquisition managers. I want to do that.” That’s fine. I understand but what I mean by that is don’t hire anybody to take over your leads. Don’t hire any acquisition managers until you make $30,000.
Wholesaling is just three parts. I love these three things. It keeps it simple. Lead generation is the number one focus that you’ve got to build on. What we talk about on the show all the time is lead generation. You are either marketing for that, you are getting referrals or you are prospecting. You are being proactive out there every day and you are talking to people. Lead generation means quality conversations with distressed property owners. There are a lot of different ways to do it.
I always suggest that you go proactive. You keep your budget super low, especially if you don’t have a budget. You use your natural gifts, ability, the way that you communicate with people, the way that you have learned to communicate over years of life experience. You go out there and start getting leads. That’s the first part of lead generation.
Lead generation just means quality conversations with distressed property owners.
The second part is conversion. You’ve got to convert those leads. You’ve got to take somebody that has a problem that you can solve and you have to make sure that you are the one that they want to work with. That means you’ve got to build a lot of trusts, be an active listener, understand and ask the right questions for them to be able to be confident that you are going to get the job done. It’s about conversion. Not only that but you need to have the right team around you.
I’m not saying about hiring people but you need to have the right closing attorney, title company, local mentors or a national mentor that’s going to help walk you through that process because a lot of great leads fall through because you are not nurturing them right. The conversion part of that is not going the way that you needed to because you don’t know enough. Get the right team around you. This is free. When you are in the profit part of growing this financial freedom blueprint, the profit part is all about getting the deals and working with people but not spending a lot of money.
Profit is all about the income minus expenses. That’s your profit. That’s what I’m talking about. What do you take home to your family? What do you take home that’s in your bank account that you can pay off debt with, invest with and support yourself so that you can get out of your 9:00 to 5:00? We need to build that up first. Profit is so important. Once you are at that point when you are making $30,000 a month, you are stepping up.
We are going into the time factor. Profit, time, freedom and that time factor. You are hiring people to do the job that you were doing. You are freeing up your schedule with talented people but you need to understand when you start hiring people, you are financially responsible for them. Their financial future is in your hands. You’ve got to have a lot of empathy there. You have to have a lot of respect for what’s going on with their family, life and bills so that you can make this a very special role in your business for them. You need to make sure you build it up with the profit.
You’ve got more time to be able to build your business, to work on your business. Not in your business. We hear it all the time. It’s cliché but it’s so pure and natural that it just makes a lot of sense. Working on your business, not in your business, gives you the time. Once you get to the point where you are making $100,000 a month in this business, that’s when we are talking about freedom. That’s when you totally pull yourself out of it. Not 100%. There’s not going to be a passive owner that’s going to continuously build this business because marketing and deals is moving target.
Everything is a moving target in the real estate business but you keep a close eye on the big stuff, the 30,000-foot view so that your business can be successful and make $100,000 and all of a sudden, you are netting half of that. If you are smart, this is the time where you don’t get silly and don’t get crazy. This is the time that you use most of your income to purchase assets, to purchase something that’s going to return cash to you that you don’t have to work for at all.
If you slow it down for 3 to 5 years, you could set up your whole life. There are people in the industry that talk about changing your family tree’s financial future. That’s so beautiful but you can’t do that if you are giving money to debt, buying things that don’t appreciate, liabilities and things that take money out of your pockets. You have gone. You have started part-time. You have grown. You have been consistent. You’ve got the profit. You invested in your company so that you can have the time and then you’ve got the freedom.
You’ve got the freedom to do what you are passionate about or even better. Passion is a spark. Passion is a flash in the pan compared to purpose. You can start working on your purpose. Once you are in a position where you are financially set or free to be able to work on your purpose, your happiness goes through the roof. I don’t care if it’s working with your church, volunteering, being a coach or doing other businesses. I don’t care if you want to be a painter, rapper or singer.
Go back to your childhood and to the things that make you the happiest. What is the purpose that you have in life? You can work on that because you have been smart and savvy. You have put the work in. You have worked those long, hard hours when you are building the profit phase. You hire the right people and you nurture them in the time phase and in the freedom phase, you are doing amazing things but you can’t skip past it. Unless you win the lottery, get a big inheritance and unless fire money is not an object to you, not a struggle or you don’t have to work for it, you are not going to be in that position.
That is the blueprint. Profit, time, freedom. If you are in that profit, go sink your teeth into it. Know that you are there, love the journey when you are building your team and know that at the end of this is the financial freedom that you can change and the course of your family’s life forever financially, be able to buy the right assets, not buy liabilities and be smart about it. Pay off all the debts of your family if you want. All of these beautiful things come from this blueprint.
Go out there. It all starts with quality conversations with distressed property owners. From that little seed, grows into a financial future. That is the plan. That’s what I want for everybody. I want you to go out there every single day and talk to people. If you are interested, go to WholesalingInc.com/ttp. Check out the program, testimonials and see what it’s all about. I would love for you to skip to the front of the line and get there faster. You are the best. I love you.
About Brent Daniels
Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low cost, and incredibly effective telephone marketing program…
Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!
Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events…
A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!