Posted on: March 09, 2021

People have this dream of becoming financially free, but most get tied to their eight to five jobs. Most people who are into wholesaling started with it as their side hustle or just a part-time business during in-between times or free time. They have a limited time to do it and have a narrow window to stretch their opportunity to earn a lot from the deals.

In this episode, Brent will break down the steps on 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.

Key Takeaways

  • Building profits as the first step
  • Three parts of the wholesaling business
  • Time factor as the next step
  • Freedom to build your passion as the third step

RESOURCES:

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Episode Transcription

Brent Daniels:
Hey guys, it is Brent Daniels. And when we start out in this business, it’s really interesting. Oftentimes, we start out as this is like a side hustle for us. So this is a part-time business. A lot of times, a lot of the people that I talked to, even myself, I was doing this in the in-between times. Lunch breaks or after I got off work or after I was done showing properties or whatever else. 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. That’s where we started. We’ve done zero deals. We’ve made zero money. We have all this faith. We have all of this passion and we have all this purpose that we want to be financially free, but we’re stuck in a 9:00 to 5:00 job or stuck with responsibilities with family.
Or we just don’t have the schedule that we really, really need to make this an incredible business that’s going to give us financial freedom. So let me show you the steps to take. This is 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 profit, but one that gives you time and then gives you freedom. Because those are the three words I want you to focus on. The first step in this business is about profit. This is about getting your first deals and 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. Oh, that’s very controversial. Well, “Brent, I want to hire people to make calls from 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. Because listen, this business, it’s just three parts. Wholesaling’s just three parts. I love this three thing. I think it keeps it simple. But really, lead generation is number one. That’s the number one focus that you’ve got to build on. That’s what we talk about on the Wholesaling Inc podcast all the time is lead generation. Now you’re either marketing for that, you’re getting referrals or you are prospecting. You’re being really proactive out there every day and you are talking to people. But lead generation just means quality conversations with distressed property owners. There’s 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 and you use your natural gifts ability, the way that you communicate with people, the way that you’ve learned to communicate over years, and years and years of just life experience and you go out there and you start getting leads. Now that’s excellent. That’s the first part. That’s lead generation. Second part is conversion. Now you’ve got to convert those leads. You got to take somebody that does have a problem that you can solve and you have to make sure that you’re the one that they want to work with. That means you’ve got to build a lot of trust. That means you have to be an active listener. That means you have to really understand and ask the right questions for them to be able to be confident that you’re going to get the job done.
It’s about conversion. Not only that, but you need to have the right team around you. Now, I’m not saying about hiring people, but you need to have the right closing attorney and title company that’s going to help you. And you need to have local mentors or a national mentor, whatever it is that’s going to help walk you through that process. Because a lot of really great leads fall through because you’re not nurturing them right. The conversion part of that is not going the way that you need it to because you just don’t know enough. So get the right team around you. And this is free. This is what I’m saying. When you’re 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. Remember, profits 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, that you can invest with, that you can support yourself so that you can get out of your 9:00 to 5:00? We need to build that up first. Listen, profit is so important. Once you’re at that point when you’re making $30,000 a month, now you’re stepping up. Now we’re going into the time factor. Remember, profit, time, freedom. That time factor. Now you’re hiring people to do the job that you were doing. You’re freeing up your schedule with really talented people. But you need to understand when you start hiring people, you’re holding their financial… you’re financially responsible for them. Their financial future is in your hands.
So you got to have a lot of empathy there. You have to have a lot of respect for what’s going on with their family, and their life and their bills and everything so that you can make this a very special business for them. A very special role in your business for them. So you need to make sure you build it up with the profit. Now you’ve got time. Now 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 cliche, but it’s so pure and natural that it just makes a lot of sense. Working on your business, not in your business, that gives you the time. And once you get to the point where you’re making a $100,000 a month in this business, that’s when we’re 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’s a moving target. The deals are moving target. What buyers are going, the market. Everything’s 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 now all of a sudden you’re netting half of that. And if you’re really smart, this is the time. This is the time where you don’t get silly. 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.
But if you just slow it down for three to five years, you could set up your whole life. There’s people in the industry that talk about changing your family’s financial future, changing your family tree, your family tree’s financial future. And I think that that’s so beautiful. But you can’t do that if you’re giving money to debt. If you’re buying things that don’t appreciate. If you’re buying liabilities. If you’re buying things that take money out of your pockets. So now you’ve gone and you’ve started part time, and you’ve grown, and you’ve been consistent, and you’ve got the profit and you invested in your company so that you can have the time. And now you’ve got the freedom. Now you’ve got the freedom to do what your passion, whatever you’re passionate about or whatever, even better.
Passion is a spark. Passion is a flash in the pan compared to purpose. Now you can start working on your purpose. And I’m telling you, once you’re at a position where you’re financially set, where you’re financially 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. I don’t care if it’s volunteering. I don’t care if it’s being a coach. I don’t care if it’s doing other businesses. I don’t care if you want to be a painter, or a rapper, or a singer, whatever it is, whatever your true… go back to your childhood and go back 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. You have been savvy. You’ve put the work in.
You have worked those long, hard hours when you’re building the profit phase. And then you hire the right people and you nurture them in the time phase. And now in the freedom phase, you’re doing amazing things, but you can’t skip. You can’t skip past it, unless you win the lottery, unless you get a big inheritance and unless fire money is not an object to you or not a struggle for you, or you don’t have to work for it. You’re not going to be in that position. So that is the blueprint. Profit, time, freedom. If you’re in that profit, go, sink your teeth into it, know that you’re there, love the journey. When you’re building your team, love that, and know that at the end of this is financial freedom that you can change the course of your family’s life forever financially and be able to buy the right assets and not buy liabilities and be really, really, really smart about it.
Pay off all the debts, pay off all the debts of your family if you want. All of these beautiful things come from this step, this blueprint. So go out there, guys. It all starts with quality conversations with distressed property owners. And from there, from that little seed grows into 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’re interested, go to wholesalinginc.com/ttp, check out the program, check out the testimonials, see what it’s all about. I would love for you to skip to the front of the line and get there faster. You guys are the best. Love you.

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