Posted on: January 27, 2022
WI 872 | Real Estate Wholesaling

 

“How much money do you have to create to be happy?”

Success doesn’t happen overnight; it requires patience, perseverance, and an excellent strategy to get there. The road to financial freedom is to build momentum and maintain consistency. Join Mr. TTP as he lays out a twelve-month plan that will guide you to whatever financial number you want to hit. And make your money work better for you.

Listen to this episode as Brent walks you through how you can average seven deals a year and earn that big fat cash!

Your 12 Month Plan for Explosive Success as a Real Estate Wholesaler

Episode Transcription

Let me ask you a question. What is your money to happiness ratio? Seriously, it’s an interesting question because how much money do you need to make, to have, and to create to be your happiest. What’s the point of making a ton of money if you are miserable. If you Google it, you are going to find that science tells us that for the average American individual, $75,000 is the perfect amount to make per year for your money to happiness ratio to be the highest.

You have your bills paid. You can afford to get approved for a car loan for a mortgage. You can have discretionary income and you can go on vacations. Here we are, us crazy people, us Rhino Tribe out there pushing to make that every single month, every single week. We are trying to make $75,000 on a single deal. Is that not interesting?

I truly believe that we are built differently and have different brains. I truly believe that we want to push the boundaries of our personal potential. I don’t think that you would be reading this, being involved in the Facebook group, meeting up and squatting up with other people that are real estate investors if you did not have a different fire in your belly.

The second question I want to ask is, how much do you want to make this year? I know you have that number in your mind. We all have that number in our minds, especially at the turn of the year. There’s a freshness to a new year. Everything is blank. Everything is ready for us to absolutely create whatever we want to do over the next months.

The day that we live in a Utopia where every property is beautiful and pristine is the day that wholesaling is dead, but that’s not going to happen.

Your Financial Goal And Average Deal

What I want to layout for you is a twelve-month plan to hit whatever financial number that you want to hit. Whatever amount that you want to take home or value you want to provide to your community. I want to give you the roadmap to be able to do that. It’s a very simple roadmap, but it’s a twelve-month plan and it starts with this. The first line goes, “What is your financial goal?” That’s the start and you fill that in. You can write this as we go along. That’s fine.

The second is, what do you average per deal? Look at all the past deals that you have done. If you have never done a deal, what I want you to use is the industry average of $15,000. If you are in a smaller market, it’s going to be different. If you are in a market where you are going after properties that are under $150,000, then you are going to have to adjust that down to probably $10,000 to be conservative, but the average around the country is $15,000. That’s the number that we are going to plugin here.

You have got your goal and you have got the average deal size. If you divide the first number by the second number, you are going to come up with the number of deals that you have to do over the next twelve months to hit that financial goal. The crazy thing is to make $100,000 in your wholesaling business over the next twelve months with an average deal size of $15,000, you have to do over six deals.

I’m going to round it up to seven deals for the year. Isn’t that bananas? You have to have enough quality conversations with distressed property owners to find seven that will do business with you and you make over $100,000 in the next twelve months. “I want to make $200,000,” $14,000. “I want to make $300,000,” $21,000. Twenty-eight deals get you $400,000.

WI 872 | Real Estate Wholesaling

Real Estate Wholesaling: 6% to 10% of the real estate market is in distress at all times. That means there are over 12 million single-family properties that have been vacant for over a year in the country.

 

If you are thinking that is way out of reach, you can never make that amount and that seems way too far away. I am telling you, 28 property owners in your markets. That’s how many you have to have quality conversations with. That’s how many you need to pre-qualify, do a lead follow-up and that’s how many you need to have a strong offer presentation that makes them sign an agreement with you and commit to doing business with you to make $400,000 this year.

Do you know that it puts you in the top 1% income earners in the country? It’s absolutely within your reach, and I’m going to break down the rest of the numbers to show you how you can get there. The fact is, after you go through lines 1, 2, 3, your goal for the year, your average deal size and the amount of deals you have to do this year.

What I want you to do is I want you to take the amount of deals that you want to do this year and times it by 200. The fact is and this is data across the country. If you have a conversation with 200 distressed property owners, these are motivated property owners. There is some reason why their property is in rough shape, why they are in foreclosure, behind in their taxes or owe a bunch of debt wherever. They are in financial distress. You have conversations with 200 people in those situations.

The fact is 6% to 10% of the real estate market is in distress at all times, depending on what market you are in. Based on the 2020 US census that came out hot off the press, there are over twelve million single-family vacant properties that have been vacant for over a year in the country. Also, let me hit you with this data. Did you know that around the country, every 30 days, there are 147,000 wholesale transactions?

There is more opportunity than there are us, wholesalers and real estate investors going after these opportunities. You know it. You could know it driving around the streets. The day that we live in a utopia where every property is beautiful and pristine is the day that wholesaling is dead. It’s not going to happen, but what I do know is if you personally talk to 200 distressed property owners, you will do one deal. That’s the sense. That’s what the stats say.

Now you have your goal for your income, average deal size and the amount of deals you have to do. You times that by 200, now you know over the next twelve months, how many people you have to speak to. There are some people out there that have full-time jobs. There are some people out there that have a constricted schedule that you can’t talk to that many people. You can’t get around that much or maybe you don’t want to. You are like, “I’m going to hire a virtual assistant or a phone prospector. I’m going to find somebody that’s going to reach out to these property owners.”

Financial freedom equals control over the time that we have left on this beautiful planet.

Everything that I’m talking about here is about you being proactive and reaching out. The place that I’m coming from is you picking up the phone, calling people and having these conversations. There are different numbers. If you are going to spend a ton of money on marketing, it’s a totally different equation.

What I’m saying is if you are starting out in this business or you are doing a couple of deals here and there. You want to have the best financial year of your life and you want to keep the profits that you make so that you can replace your income so that you can start buying and building up your rental portfolio, you want to do all these things.

Buy the assets, get the passive cashflow so that you can have financial freedom, which financial freedom if you were to equal it to something, is control. Financial freedom equals control over the time that we have left on this beautiful planet of ours. That’s what it is. Financial freedom is that control and I want that for everybody, but this is about being proactive.

This is not about spending tens of thousands of dollars on marketing every single month than having people call you. This is you proactively reaching out to these property owners. Two hundred people you talk to, there’s a deal in there. Statistics show them. I know that I’m going back and forth. It’s my communication style. It’s wild, but if you have a VA, it’s four times that amount.

You take the amount of deals that you have to do this year and times that by 800, not 200. That’s how many people they have to talk to this year to send them into you for you to make sure that they are pre-qualified doing the lead follow-up, having a strong offer presentation and then obviously having a robust cash buyer database that you can sell these deals to.

If it’s you and let’s take the example that you want to make $100,000 and that’s a $15,000 average. That seven deals and you multiply that and you know that you have to talk to 1,400 people this year, then take that number and let’s break it down to a weekly goal. What I want you to do, we all know that there are 52 weeks in the year, but we don’t work 52 weeks in the year. Let’s be realistic. Let’s put it to 48 weeks in a year. You then take 1,400 contacts divided by 48 weeks in a year and you realize you only have to talk to 30 new people every single week to make $100,000.

Are you kidding me? That’s incredible. Let’s live in the present. Let’s break this down by days. If there are five working days or if you want to work five days this week and you are making these calls yourself, you need to talk to six people a day. Six new property owners a day to make $100,000 over the next twelve months.

WI 872 | Real Estate Wholesaling

Real Estate Wholesaling: There are so many opportunities out there and we only have to talk to six new people every single day, but it’s going to take you 90 days to build momentum. That’s the toughest part in this business.

 

Whatever your goal is, $400,000, $500,000 or whatever, extrapolate it. That’s fine, but you have to talk to six new people a day. That’s what I’m trying to get to here. The twelve-month plan is great, but twelve months is too far out. What do we have to do every single day? Six contacts of a distressed property owner from your driving for dollars list, pre-foreclosure list, tired landlord list, owner-occupied with equity list, tired multifamily, vacant land list, vacant property list or code violation list. There are so many opportunities out there and we only have to talk to six new people every single day, but there is a catch.

It’s going to take you 90 days to build momentum. That’s the toughest part of this business. Everybody’s excited and pumped the first day, the second day, the first week or the second week. Can you have the courage, the vision to go twelve straight weeks with incredible optimism, enthusiasm and energy, knowing that you are building something that can last the rest of your life? We could do this business forever, but that 90 days stops people. That 90 days is like this big gorilla that’s stopping you from going forward and achieving all of your real estate goals. All these financial dreams that you have.

It drives me crazy, to be honest, as a coach because if you push it for 90 days, you breakthrough. I have not seen it not happen. I hope that makes sense. It happens every time somebody goes consistent for 90 days, they build momentum. They get opportunities and deals closed. They are building the systems and the machine. Yes. It’s you in the beginning. You are doing this work. It’s hard work. Nobody wants to get on the phone and cold-call people all day. Some people do, but they are quadruple expressive personalities, but for everybody else, it’s hard.

Who’s going to support me? Who’s around me? Who can I communicate with this? Nobody in my family does real estate. None of my friends do real estate and here I am. I’m going to get all of these addresses and phone numbers. I’m going to call all these people and have conversations with them about their houses. 199 out of 200 of them are going to reject me, but one of them is going to be worth $15,000. One of them is going to be the proof of concept or is going to allow me to cross that bridge from faith to fat because that’s what we are built on in the beginning.

The faith that we can do this. The faith that if we talk to enough people and if we have enough quality conversations, we will win. It happens 147,000 times a month. That’s not all from calling. Other people are doing this. You can do it as well. It’s six new people a day for the next 48 weeks or for the next twelve months to make $100,000, $200,000, $300,000, $400,000 or whatever your goal is.

What is your money to happiness ratio? That’s what we started with. Don’t do it because other people are doing it. Make sure that you are staying happy. There’s no point in making a ton of money and being miserable but this is the roadmap, the twelve-month plan. Number one is how much do you want to make? Number two is the average deal size. If you have never done a deal, it’s $15,000. Number three is to divide those two, divide the amount you want to make by how much the average is, find out how many deals you have to do and times that by 200.

If we talk to enough people and have enough quality conversations, we will win.

Number Of Deals You Have To Do

That’s how many new conversations you have to have this year. If you want somebody else to do it for you, times that number the amount of deals by 800 and then divide by 48 to know how many contacts per week. We are going to work 48 weeks this year and then divide that by five. You then know on a daily basis, how many people you need to talk to. You can put it in front of you. You can keep it everywhere. You can tell your husband, wife, best friend, dad, mom, brothers and sisters about it. You can tell them, “This is what I’m doing. I’m going to talk to six people every single day and I’m going to ask them if they would consider an offer on their property.”

Squad Up

It’s going to be incredible, but you got to squad up. The last secret ingredient to this success is don’t do this alone. Get into the Facebook groups and Meetups around town. Find people that are proactive and successful at this. That’s the last piece to squad up. Find people that are as excited and committed about this as you as. There is no way you can fail. There’s no way that you could lose.

It’s science. It’s a numbers game. It’s whether or not you are brave enough to get it going, to take that first step, to make that first call, to deal with the rejection, to build that thick rhino skin that we have in this Rhino Tribe, as we are charging forward and taking action. This business is incredible. All of a sudden, what happens is you start building this up and now you start attracting great talent that wants to be around you because you are full of energy, optimism and your bank account’s heavy.

You are an absolute magnet for incredible talent, you build a company around a proactive culture and then you net an incredible amount where then you either are replacing your job going full-time into this business. When you are full-time, you are off the chain. You are going. You are running or sprinting.

All of a sudden, you are getting these incredible opportunities to buy the most discounted property in your marketplace. Do you feel it? I hope you feel it. I know I feel it. I feel electric. I have goosebumps. That’s the plan. That’s the blueprint. That’s what happens. Find discounted properties and you get big checks. Ugly properties, big checks and you stay focused on that.

WI 872 | Real Estate Wholesaling

Real Estate Wholesaling: There’s no way that you could lose because it’s a numbers game. It’s whether or not you’re brave enough to take that first step and get it going.

 

You are not worried about building your rental portfolio right off the bat. You are not worried about house hacking, fixing and flipping in this first bit as you are building this business. You are building a machine that is going to source discounted real estate as often as possible. When you are full-time, you got a team and you got the consistency, that’s when you start taking those best deals off the table, putting them into your portfolio, and build wealth. That’s when you turn into a true real estate investor and it’s incredible.

I’m telling you from personal experience and from coaching, the absolute most proactive and successful wholesalers around the country, I have coached them. I have been around them. I’ve connected with them. I have talked to them. I have seen people start out doing zero deals, doing hundreds of deals. I have coached them all. It happens. You can do this. I believe that you can do this.

Follow this plan. Take action. Take that challenge. Stare that 90 days in the face and tell it, “I’ve got this. I’m going to stay consistent. My goals are bigger than my fear of the next 90 days,” and you will win. I want you to win because I love you. I love you because you like me and you don’t think that $75,000 is the money to happiness ratio for you because you do want to push the limits of your potential. Push your family into a much stronger financial position, the legacy, if you want. Whatever you want to do, it’s all tied to your ability to communicate effectively with distressed property owners.

That’s it. That’s the twelve-month plan. If you are interested in joining the most proactive group in real estate investing, it is the TTP Program and TTP family, go to WholesalingInc.com/TTP. Check out what it’s all about. You are going to have to scroll a lot to check out all of the success and testimonials. It’s a humblebrag but it’s real. These are real people doing amazing things out there and I would love for you to be a part of it.

You get access to me one-on-one. We do support calls Monday through Thursday. It’s incredible. It’s everything that you are looking for. If you’ve got that fire in your belly, if it feels good in your gut when you get to that site, sign up for a call and I look forward to working with you personally. Until next time, I encourage you as always to go out there and talk to people.

 

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About Brent Daniels

483Brent 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!

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