What Is Co-Wholesaling?
Okay guys, hands down- if you are just getting started or have been struggling to make money, this is the easiest and quickest way to start making money in any niche of real estate...mobile homes especially.
Co-Wholsaling is basically partnering up with another wholesaler to get the deal done.
Typically each person brings 50% of the deal to the table.
For instance, if another wholesaler in town has the deal under contract, and you have the perfect buyer, you bring the buyer which is your 50% of the deal, to buy the property. As a result, you should split the wholesale fee with the wholesaler who had the deal
Or vice versa: you could have the deal, but someone else brings you a cash buyer to close on the deal, 50/50 split
If you are bringing half of the deal with a big time pro wholesaler, the splits may be different (i.e. more in their favor).
- Contact all the wholesalers in town and make sure they add you to their buyers list
- Let them know that you have either deals or buyers, so if they send you their deals as soon as they get them, you may be able to bring a buyer to the table and if your buyer closes, you expect half of the wholesale fee
- Get all the wholesalers to agree to this upfront so there is no funny business
- It is probably a good idea to put an agreement in writing with the wholesalers
You can make a TON of money if ALL you did was JUST build your buyers list!
You can start out by letting the wholesalers around town do the upfront work.
They have spent a ton of time and marketing dollars trying to get the deal, they then send it to you, and you simply send an email out to all of your buyers list, and maybe even pick up the phone and call the investors who you think will be most interested.
Do you see how BIG the leverage is here?! This is an incredibly powerful strategy.
Let all the other wholesalers spend the time locating the deals, while you focus hard on builiding your buyers list. Your buyers list continues to grow and you continue to build the relationships with your buyers, and most importantly you are making money with co-wholesales.
This is especially effective if you're currently working a full-time job. You can start stacking up profits with only half the workload.
Eventually you'll focus on controlling both sides of the deal and making 100% of the wholesale fee.
Once you make some money with co-wholesaling, you'll have some funds to put back into your marketing (and maybe add a team member into the mix to do some of the grunt work).
This business really is all about leverage and smart marketing!
So that's how you create cash out of thin air, without using any of your own cash. Pretty neat, right?
In the upcoming modules, we are going to show you everything you need to know about market research, building systems, putting marketing systems in place, the step by step processes to buying the deal, rehabbing the deal, and selling the deal.
You will literally know everything you need to know to go out and absolutely CRUSH this business in the next 90 days.
The Quick Cash module is so important because it is setting you up for the rest of the course.
Remember, the first half of the equation is quick cash, or capital. We need to make some money up front and quickly, if you already have money, then you are one step ahead of the game.
And if you dont have money, then bust ass using these quick cash strategies to build your capital.
The second half of the equation is what to do when you DO HAVE MONEY!
How do you keep that money?
More importantly, how do you make that money work for you so you don't have to work?
The second half of the equation will teach you exactly what to do with your profits...and it will blow your mind once you see these numbers!
You're about to learn how to start with just $10,000- $15,000 in capital and turn that into more than $50,000, by only doing the work ONE TIME, and getting paid every single month, over and over again, without having to do more work.
Remember, our end goal is freedom right? Time and financial freedom.
And that is exactly what the rest of this course will help you accomplish.
We’ll see you in the next module.