Overview of the Biz Structure

This is an overview of how we run our business

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Overview of the Biz Structure por Mind Map: Overview of the Biz Structure

1. Agenda

1.1. Week One

1.1.1. Overview

1.1.2. Designing A Lifestyle Business

1.1.2.1. Template Everything we do!

1.1.3. What is Automated Wholesaling?

1.1.3.1. We have a process, think McDonalds

1.2. Week Two

1.2.1. Automation and Systems

1.2.2. Tools

1.2.2.1. Podio

1.2.2.2. Lead Sherpa

1.2.2.3. nTask

1.2.2.4. HelloSign

1.2.2.5. Oncarrot.com

1.3. Week Three

1.3.1. Building Your Team

1.3.1.1. Think Who not How!

1.3.2. Virtual Assistants

1.3.3. Local Wholesalers

1.3.4. Partners

1.3.4.1. Real Estate Agents

1.4. Week Four

1.4.1. Marketing Hire

1.4.2. Market Research

1.4.2.1. Timing and Circumstance

1.4.3. Marketing Plan

1.4.3.1. Key Performance Indicators

1.5. Week Five

1.5.1. Its all about marketing

1.5.1.1. We need Leads Everyday

1.5.1.1.1. Funnel them Quickly

1.5.2. Making Offers

1.5.2.1. Go for Now

1.5.3. Following Up

1.5.3.1. Systematic way of doing this

2. Local Wholesalers

2.1. My story

2.2. What are you looking for?

2.2.1. Make sure you're working with "boots on the ground" wholesalers. Not rehabbers. You want to work directly with the guy who goes to sellers houses and negotiates with them.

2.2.2. Someone who is good at sales, talking to sellers and negotiating

2.2.3. Someone who is NOT good at marketing, following up, systems, etc

2.2.4. Someone who just wants to drive around in their truck all day, look at properties, talk to sellers, make offers, etc

2.2.5. Someone who already wholesales 2+ deals a month

2.2.6. I usually pick the wholesaler 1st, then market 2nd

2.3. What do you say to them?

2.3.1. Hi! My name is... and I am investor in the XYZ area.

2.3.2. I live in CITY. I am investor and I'm doing a lot of marketing in the area.

2.3.3. I have too many leads and I don't think I can handle all of them

2.3.4. I am looking for someone local that can possibly work my pre-screened motivated seller leads... and partner with me on some of these deals

2.3.5. You probably aren't interested in helping me with these leads, are you?

2.3.6. This is how it works...

2.3.7. I pay for the marketing, answer the phones, prescreen the leads, manage the CRM, send all the offers, do all the follow up, etc, etc

2.3.8. I am just looking for someone to take the leads that I give them, and call the seller back, maybe go see the house, and make an offer.

2.3.9. You already have some good buyers, right?

2.3.10. If you get it one of my leads under contract, you can sell it to one of your buyers, and we will split the net profits.

2.4. Craigslist - FSBO ads

2.5. BiggerPockets

2.6. Facebook Groups

2.7. Google - "we buy houses CITY"

2.8. Look for where they are advertising properties

2.8.1. Craigslist

2.8.1.1. Look for guys who are advertising houses

2.8.1.2. And for people placing ads

2.8.1.3. Backpage

2.8.1.4. Ebay Classifieds

2.8.2. Zillow

2.9. Ask other cash buyers / investors who is bringing them deals

2.9.1. See FindCashBuyersNow.com

2.9.2. Look up the most active buyers

2.9.3. Google them

2.9.4. "Are you still looking for deals in St Louis?"

2.9.5. "What are you looking for?"

2.9.6. "Who is bringing you your deals?"

2.9.7. "Do you have a house you would like to sell?"

2.10. REIA Groups

2.10.1. Flap your lips!

2.10.2. Some of the best deals are done "belly button to belly button"

2.10.3. There is power in networking

2.11. Call them - don't just email / text

2.11.1. You've got to answer your phone.

2.11.2. You've got to be a people person

2.11.3. Read "How To Win Friends And Influence People"

2.12. Agreements

2.12.1. Simple email

2.12.1.1. Points to cover

2.12.1.2. What you will do

2.12.1.2.1. Send marketing

2.12.1.2.2. Provide VA

2.12.1.2.3. Provide systems - CRM, websites, phones, etc

2.12.1.2.4. Send offers to all leads

2.12.1.2.5. Do all follow up

2.12.1.3. What they will do

2.12.1.3.1. Receive leads in CRM

2.12.1.3.2. Call seller back immediately

2.12.1.3.3. Meet with seller & get the property under contract

2.12.1.3.4. Market the property to their buyers

2.12.1.3.5. Update CRM with all notes

2.12.1.3.6. Communicate with VA

2.12.1.3.7. Track all the A-B and B-C details in Podio

2.12.1.3.8. Upload all attachments and files in CRM

2.12.1.4. How you split the profits

2.12.1.4.1. 50/50 after expenses

2.12.1.4.2. 60/40?

2.12.1.4.3. If they buy the deal, split what would have been a wholesale fee

2.12.2. Sample JV Agreements

2.12.3. Always try to get paid from the Title Co, maybe as an invoice, on the HUD

2.12.4. Don't overthink / overcomplicate this. Keep it simple

2.12.5. IMPORTANT: Everything has to be tracked in an open CRM

2.12.5.1. Scorecard

2.12.5.2. A-B numbers

2.12.5.3. B-C details

3. Business Partners

3.1. Matt & Carol

3.2. Rick - Local Acquisition Manager

3.3. Local assistant who is a Realtor

3.4. In Bound Callers / Negotiators / Acquisition Manager

3.4.1. Sample Job Posts

3.4.2. Also see this - https://www.evernote.com/l/AB6NnQzDs0NJV5BGgEciXCi64ZgPl5gTkCE

3.4.3. And this from John Martinez - https://www.evernote.com/l/AB5UVD9VY1NJOYoBVygp4uFio5pJ8_eqB-M

3.4.4. And this: https://www.evernote.com/l/AB7Cl70F11pE85leeSrTvreQvZ9X5K-VNXU

3.5. Why I don't like to hire acquisition managers and build a sales team

3.5.1. Too much work

3.5.2. Still have too many fires to put out

3.5.3. My story in 2013

3.5.4. At the end of the day, I was still only netting 40% - 50% of the deal

3.5.5. Wrote down everything that is involved in doing a wholesale deal and asked myself how I can do NONE of this

4. Misc Team Members

4.1. Realtors

4.1.1. MLS Access

4.1.2. Send you Pendings

4.1.3. Send you old Actives

4.1.4. Have them make offers for you

4.1.5. Can represent you when they bring you a deal

4.1.6. You can refer listings to them

4.1.7. BTW - see www.redfin.com

4.2. Property Managers

4.2.1. They know people

4.2.2. You need good property managers to refer to your cash buyers

4.2.3. They also know the sellers

4.2.4. "Would your client be interested in selling this rental? You can be my buyers agent."

4.2.5. "Do you have any other clients who might be interested in selling their rentals?"

4.2.6. Tell them you would be open to terms deals - seller financing, etc

4.3. Birddogs

4.3.1. Keep it simple

4.3.2. Old "Done For You" Setup Notes - using Podio

4.3.2.1. Video on Birddog setup in Podio

4.3.2.2. Signup page - www.leadpages.net

4.3.2.3. Signup Page - sample

4.3.2.3.1. Screenshot

4.3.2.3.2. Video

4.3.2.4. Birddog Signup Site - www.REILocator.com

4.3.2.5. Emails

4.3.2.5.1. aweber

4.3.2.5.2. actual emails

4.3.2.6. Welcome Packet

4.3.2.7. Podio Setup - Screenshots

4.3.2.7.1. To communicate with Birddogs inside of Podio, use GlobiFlow

4.3.2.7.2. Where birddog submits properties

4.3.2.7.3. Where birddogs signup

4.3.2.7.4. Look at this short video on how globiflow works and how to share leads with birddogs inside of podio

4.3.3. Start posting ads to craigslist immediately. Don't wait. There should be some sample ads below. You can also post ads in local newspapers, backpage.com, ebay classifieds, etc

4.3.4. Call all your potential "Property Locators" as soon as they sign up. Ask them if you got your welcome emails. Ask them if they have any questions. Make sure they have access to the training site and the training videos.

4.3.5. Be accessible to your Property Locators. If they email you a question, reply to them and help them out. Answer your phone if they call! Be accessible.

4.3.6. Find the top 5% of applicants who are actually trying and sending you decent leads. Take them out for coffee and spend more time with them.

4.3.7. Sample Craigslist Ads

4.3.7.1. 1

4.3.7.2. 2

4.3.7.3. 3