[Video] Building A Team For Your Wholesale Real Estate Business Scaling Your Wholesaling Business Part 3
How to Build a Seven Figure Wholesaling Team…
IN TODAY’S EPISODE:
00:16 The most important hire in your company
02:01 The person who’s going to handle everything in your office…
02:40 The most important thing that you can do…
Building A Team For Your Wholesale Real Estate Business
Scaling Your Wholesale Business Part 3
In this video, I’m going to show you how to build your team to scale your wholesaling business to seven figures. Alright, so the first person that you’re going to need to hire when growing your business is an acquisition manager.
This is your right hand man and is the most important hire in your company. This person is going to start the process of acquisition all the way from answering voicemails for motivated sellers, all the way to determining motivation and then meeting up with that motivated seller at their house and locking up that property under a contract. Basically, they’re going to understand the acquisition process all the way from front to back and that’s going to be really, really important because this person is going to run your team down the line to free you up for better things. This is basically the most important—in my opinion, one of the most important positions that you could ever hire for. Now once you have your acquisition manager completely trained, you’re ready to move on to the next hire.
The next person you got to bring on is the telephone screener or the inside sales professional. Now this person is basically an assistant or basically a helper to the acquisition manager because once the acquisition manager is busy with all the marketing that you’re going to be doing, they’re not going to be able to handle all the phone calls, or the follow ups; it’s going to get crazy. So you have to have someone dedicated to just answering the phone and working that phone day after day after day. They’re basically a machine on that telephone. And so all the hot leads they’re going to pass on your acquisition managers that they can go out there and lock up that property. And all the leads that are cold or warm, you can keep those for the call screener to basically decide, “Hey, you know what, I’m going to send this person out an offer or I’m going to send out my acquisition manager to go ahead and lock that property up.”
The third hire that you need to make is the office manager/ transaction coordinator and this is the person who’s going to handle everything in your office, right. If you have a physical office, they’re going to handle the mail. They’re going to handle the phone calls from your cash buyers. We have our office manager actually sell our properties for us. If escrow title send over documents, they prepare them for signing for me and for my acquisition manager. They basically handle everything that support acquisition, all the paperwork and also deal with the buyers. It’s a very, very important position because as your volume grows, guess what, so will the paperwork, and you don’t want to be dealing with paperwork because it’s going to bog you down, and confuse you, and fog you and you’re not going to be able to concentrate on the most important thing that you can do and that’s generating leads for your team.
And finally, the last person that you should be hiring is the ARM, this is the Agent Relationship Manager and this is someone who will actually go out to the multiple listing service and go out and meet real estate agents and lock up properties with outside real estate agents. You don’t want to mix the two, in my opinion; private sellers and dealing with agents. But this person you can train into an absolute acquisition machine dealing with pending and property falling in escrow and pocket listings so you got two streams of income coming; one from private sellers and one from dealing with agents. I will tell you, training someone to get properties from real estate agents is an entirely different process than getting from a motivated seller. So the ARM, that’s the fourth part of your core hire. Now you could hire other people but you want to start with those. Hire them in that order and you’ll be well on your way to creating a seven-figure wholesaling business. I’ll see you guys on the next video.
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