The Jerry Green Show | Virtual Real Estate Wholesaling

Wholesaling is probably one of the most popular real estate investing strategies that both new and seasoned investors want to get involved in. If done right, it can be a great way to get chunk money coming in, but at the same time, could also be more work than it's supposed to if you do it the wrong way. When you're choosing what to do in business, there are a lot of factors you need to consider, and that's what we're talking about today. Watch this video to gain clarity on how you can decide if wholesaling is for you and what your deciding factors should be! Key Talking Points of the Episode [00:00] Introduction [01:09] What is it that you really want? [01:43] Wholesaling is a lot easier [02:13] What are your needs? [03:30] Doing business in reverse [04:12] What do you want this business to do for you? [04:58] Getting focused on creating consistency [05:29] Building it into a business Quotables “I think you gotta really look at understanding what it is that you really want. What it is that you truly want out of this business.” “I find that there's a lot of people out there that say they really wanna wholesale and a lot of times they say that because they just want to chase the money. That's not a good reason to go into any business decision.” “There's some parts that are easier but I can tell you this - it's a lot of work, there's no question to that, especially if you're doing it yourself.” “I think it comes down to really your needs.” “I see a lot of people trying to build this in reverse too. What they'll do is they'll say “Jerry, I wanna get into real estate”, and what they wanna do is do rentals first but they don't have today's cash needs taken care of.” “There's nothing wrong with the rentals but the problem is a lot of times, it doesn't take care of today's cash needs.” “I always say don't try to build your financial empire in reverse.” “Take care of today's cash needs first, then start building your wealth.” “Obviously, the goal is to get to the point where you're doing both, but most people do that in reverse.” “If you want to build a cash-focused type business and what I call chunk money coming in to basically allow you to live and operate your business every single month, then wholesaling might be a great option for you.” “If you look at this and start building it out, is to really look at building it into a business and just not something that you're gonna constantly do yourself by running from property to property over and over again.”

There's a lot of talk about wholesaling and how you can make money from it, but there's not much about how you can make sure you're making it consistently. That's how many people who start wholesaling fall flat on their faces and end up losing interest in the business. In this video, I'm sharing the strategy that will help you make $25K in wholesaling consistently, no matter how much delays and fall outs you experience! Watch now to learn the important factors in wholesaling, how you can make $25K consistently, and how you can level up your game in the business! Key Talking Points of the Episode [00:00] Introduction [01:06] Put your goal out there [01:35] What kind of marketplace are you in? [02:20] Figuring out the numbers [03:04] Where many people screw up [03:49] How you reverse engineer the numbers [04:22] Deals don't always close [04:41] What your focus should be [05:52] Why a lot of people fail [06:22] What you need to look at Quotables “There's so much crap out there. So much stuff people are feeding you, they say do this and do that, but it all comes down to very simple things.” “Don't overthink it, especially in today's marketplace.” “Put your goal out there because some people don't even have any idea where they're at.” “It all depends on your marketplace. You could be in a marketplace where this is easily achievable on one deal or a fraction of one deal. At the same time, a lot of you could be in marketplaces that don't support that on a regular basis.” “If you're making an average of $10K per deal, you need to complete pretty well close to 3 a month.” “You gotta start reverse engineering those numbers and start understanding what actions to take to achieve that result.” “You might need 20 leads coming in to get 1 contract. That means to get to the point of getting 3 contracts, we would need 60 leads.” “Here's the thing that most people forget - not every single deal that you're going to put under contract is going to close.” “What I've learned is if you really wanna get consistent on this, you better be in a position where you're not just focused on getting 3 deals under contract, but 6 deals under contract every month.” “If you put 6 deals under contract every month, it's gonna allow you to have delays and fallouts, and you'll probably start closing an average of 2-3 deals, and get to that point of averaging $25K per month.” “If you wanna crank up your deals, you gotta up your leads too.” “Go out there and put enough deals in the pipeline.” “If it's a good deal, it's gonna go together. If it's not, it's gonna fall out.”

Through my years in real estate investing and educating investors, I know I have made an impact on many lives. As each day goes by, I grow more passionate about teaching what I do because I know that there is a huge need for someone who knows what they're doing and how to build a real business. Watch this video to hear more about how we're changing lives and why we are continuing to do it! Key Talking Points of the Episode [00:00] Introduction [01:10] The impact I made on Christy's career [02:05] Working with Christy through the years [02:47] Influencing people to go out and do the work [03:35] My passion for teaching [04:30] Building a real business Quotables “There was a lot of young ladies that worked in the back of the rooms, overseeing events, coordinating things, and stuff like that, and I always wonder how much of them actually retain some of this information.” “What's really cool is when they retain it, but the second part is even better, when they go out and apply it.” “I guess one of the big things is that there's so much crap out there - there's so many fake people out there that are not really doing the business. They talk a lot or they've been doing it a year or two and they think that they can go out and just launch a program.” “I look at it and I think they just haven't been kicked in the teeth enough.” “There was such a need for somebody that really share the real truth of how this works, how to build it properly, and how to make it into a real business.”

The main problem we're seeing with people who are struggling to scale isn't always a problem with what they know, it's a problem with how they do things. Most businesses operate with some type of process, but the process can't be duplicated! In this video, I am telling you how we scaled our business and created true processes that helped us do that. Watch now to learn where you're going wrong and what you should be doing to change it so you can scale your business successfully! Key Talking Points of the Episode [00:00] Introduction [00:57] The limiting factors [01:31] Not following a process [02:28] You're part of the equation [03:15] What's a true process? [03:34] How do you make a true process? [04:10] Removing yourself out of the equation [05:21] Empowering your team to make decisions [06:16] Building a deal machine [07:23] A stair-step approach Quotables “The biggest reason you're not able to scale and grow is it's a process problem.” “The problem with that is that you're part of the equation.” “I kept running into the same limiting roadblocks over and over again, and what that was, was me being involved in the whole offer process.” “That's the problem with a lot of you, is that you don't treat it like a true process.” “First of all, you have to document what the steps involved are. That way, you can empower someone else to do that.” “In order to really make it a process, I had to start thinking about how I can remove myself out of the equation.” “The sooner you build that, guess what? You can have other people step into your shoes and they will be able to do that.” “What I realized is that I can set parameters for my team to basically go ahead and have a green light to put a deal together without needing my approval.” “We created what we call a Range Calculator, where if they fall in a certain range they could go ahead and move forward in the deal without consulting me.”

In my business, one of the biggest KPIs I always look at is our pipeline. I always want to make sure that our pipeline is full because if it isn't, it changes a lot of things in your business. Your point of sales gets delayed, your acquisitions team shifts their focus, and you might find it hard to get back on track. Watch this video to learn more about keeping your pipelines full and how you can do it in your business! Key Talking Points of the Episode [00:00] Introduction [00:42] The ideal number of contracts in your pipeline [01:06] Looking at the pipeline as a big KPI [01:30] Working with your sales team on the pipeline [02:08] Running numbers based on a 50% fallout [02:47] Why does your pipeline have to be full? [03:14] What happens when your pipeline isn't full? [03:35] What happens to your acquisitions team? [04:01] Making it easier for your acquisitions team [04:28] Pumping up the numbers [05:02] Higher percentages for virtual investors Quotables “Acquisitions need to be somewhere between 35-45 contracts dumping into the pipeline.” “If I know the pipeline is stacked and we're up on this neighborhood on things, even if I'm at 50%, I'm gonna have a pretty good month.” “If you're working with your sales team and if you let them know this, and they understand that, it takes so much pressure off of them.” “If you're selling sunglasses, your point of sale is right now. Our point of sale is down the road so that's why our pipeline has to be full at all times.” “If you don't have your pipeline full all the time, it takes another 30 days and on top of that, you start to do deals you shouldn't be doing.” “Your acquisition team will go from problem solving to sales, and that's a big mistake.” “What we do is we go back to the beginning and we pump up the numbers based on that math.” “We're generating more leads so we can have more contracts in the pipeline, because ultimately we're gonna have more delays and more fallout.” “If you're doing things virtually, you're gonna see a higher percentage. This is the nature of the business.”

Your team is a crucial part of your growth and success. If you want to be able to scale your business and grow it to where you want it to be, you have to make sure that your team is on the right track and they're empowered to keep going even without you in the picture! Watch this video to learn what empowering your team means in scaling and how you can start doing it for your own business! Key Talking Points of the Episode [00:00] Introduction [00:48] Why you need to create a process [01:19] Anybody can make money here [01:58] A repeatable system [02:26] The biggest limiting factor in scaling a business [02:50] Learning to put constraints on your business [03:40] Expanding with processes [04:14] Empowering your team [04:32] What are you involved in? Quotables “That empowers them to go ahead and be able to put the deal together without talking to anybody in upper management.” “Do it the right way where you know you're in a range.” “Now you're creating a process that can be repeated by multiple people over and over again in your business.” “Anybody right now can make money in this marketplace. The market's so strong and the supply is so low.” “What I'm talking about is a scalable system that you can use over and over to grow your business.” “This is what has allowed me to be in a position to step out of the day-to-day operations. I've removed myself completely from the day-to-day operations.” “Now I'm in a position where it allows me to pull back and start working more on the business.” “What you haven't learned yet is learning how to put constraints in your business. Part of those constraints is building processes that eliminate you from parts of it.” “If you don't put that in place, it's impossible to do this on a bigger scale without having these components working for you.” “You empower your team to move forward.” “When you put these processes in, that's how you empower your team. Then they can make decisions on deals without you even being involved.” “When you're doing deals, what happens is, you're not only involved in all the decisions on the offers but also in the decision of what the exit strategy is for each and every property.”

Ultimately, the rise or fall of your business will circle back to two things - consistency and data. These are the 2 foundational pieces of your business and it's best that you understand them clearly as early as you can to avoid problems within your team. Watch this video to learn more about the importance of consistency and data in business, why you should pay attention to them, and how you can make sure you're using them well! Key Talking Points of the Episode [00:00] Introduction [00:43] Consistency [01:40] What kind of consistency do you need? [02:01] Finding holes in the consistency factor [02:27] Most problems tie up with a consistency issue [02:57] Data [03:10] Why you need to focus on the data [03:51] Why data and consistency work together [04:39] Starting as soon as you can Quotables “You're either consistent or you're non-existent.” “We look at, “are you consistent with your marketing?”, “are you consistent with your follow up?” - all these things have to be in place.” “I start looking at the consistency factor and I usually can find holes.” “What I've learned, and this has taken me a lot of time and a lot of screw ups over the years, is you have to focus on the data component. That's what tells you the problems.” “When we actually start tracking the data, we're gonna find a lot of holes in our consistency side.” “Even when you're in a position where you're just starting up in your business and it just might be you, start implementing some of this stuff right now.” “Data allows you to track your consistency and find your problems.”

Do you know what a mission statement is? To put it simply, your mission statement is what's going to tell people about your business today and how you're moving it forward in the future. It is one of the strongest foundations of your business and it's ultimately going to bring you back to your goals, no matter how far you go. Watch this video to learn more about why mission statements are important, why you need to invest time in creating them, and how it helps your business! Key Talking Points of the Episode [00:00] Introduction [00:33] What is a mission statement? [00:55] Your mission statement isn't set in stone [01:20] Changing and evolving your mission statement [01:54] The core of your mission statement [02:25] Our mission statement [02:54] Leading and being number 1 [03:20] Investing in real estate and in ourselves [03:52] Providing service to others [04:31] Having singular focus in business [05:10] Moving properties [05:40] Getting into what your mission statement really means Quotables “Just like you would want a strong foundation when you're building a house, this is that same thing. This is the essential item that you need to put your vision into place.” “That's something that needs to be about what your business is doing today, but also something that can lead you into the future.” “It's also something that can change and evolve. It's not something that's set in stone and 10 years from now, you'll be looking at it and say it's not something that encompasses what you're doing now.” “It evolves as your business does.” “Ultimately, it has to be backed by the vision of your company.” “What your mission statement needs to say is what you're about right now and where you're going tomorrow.” “You don't want some super, super long mission statement that's not something that you or your team members can easily recite.” “A lot of us are real estate entrepreneurs because we might not just be investing all the time, sometimes we're more in the transactional side of the business.” “It means that we are giving our attention to each one, individually. We're not dividing our attention amongst many different properties at once, even though we are doing that in essence, we are focusing on doing that one at a time.” “When you take time and invest in these things, it's ultimately going to affect your business because you're creating something that's gonna impact people's lives.”

Meetings are crucial to the success and growth of your business but sometimes, we tend to overdo them. We get so used to meeting every single time something comes up and when that happens frequently, it can become counterproductive. In this video, I am sharing the meeting that contributed a lot to the success and growth of my business. It is the single, most important meeting you should have frequently, and it is going to make a huge impact on your daily operations! Watch now to learn more about this meeting, what you should do during these meetings, and how it is going to help you become more productive and successful! Key Talking Points of the Episode [00:00] Introduction [01:04] Meeting every time there is an issue [02:00] Daily Pulse Meetings [02:54] Keeping a pulse in your business [03:32] Running your daily pulse meetings [04:50] Monitoring things on a daily basis [05:15] Tracking KPIs [06:29] Measuring the activity in your business [07:00] Why do you need to do it every day? [07:57] Creating accountability through daily pulse meetings Quotables “Meetings are crucial to your business to be able to grow and manage the business, people, and processes.” “We started focusing on key meetings within our business.” “This is one of the best investments I ever made in a way of time and money, is to go in and look at monitoring things in our daily pulse meetings.” “Health wise, it's people's lives we're dealing with. In business, it's people's livelihood that we're dealing with.” “The daily pulse meetings are basically done on a daily basis, typically at the same time every day. You don't want to create any inconsistencies, you wanna be very consistent with the time.” “During that pulse meeting, we're gonna measure certain numbers.” “By doing this, you're actually able to measure the results as they go along. You can find out if people are actually getting things done or are they in a position where they're making excuses and pushing things off.” “This pulse meeting is really the way you measure and track your business operations and the health of your business on a daily basis.”

Renegotiations are dreaded in real estate, but they're inevitable. You're going to come across these situations because most of the time, none of the properties are ever what the sellers say! You have to get used to hearing one thing from the seller and seeing something else after inspections because it's normal for sellers to exaggerate on the condition of their properties. You just have to learn to communicate better so you can be in a position where the sellers would gladly give you a discount for what you're dealing with! Watch this video to learn the ways we renegotiate in our business, why these ways work, and how you can use them in your own deals! Key Talking Points of the Episode [00:00] Introduction [01:29] Trusting the sellers [02:21] Needing to renegotiate [02:51] Taking down notes when talking to the seller [04:00] Asking the seller what to do [04:52] Share the pictures from the inspection [06:26] How to show the inspection photos to the sellers [07:17] Bringing awareness to the sellers [09:04] Price anchoring low [10:51] Getting better at renegotiations Quotables “Renegotiating deals - I think this is the thing that everybody in this business hates and really fears.” “You cannot really believe the seller and that's just the nature of the business.” “None of the properties are ever what the seller really says.” “Ask them what we should do with it instead of me attacking them and bringing the price down.” “The person with the strongest notes is always the one that wins.” “The pictures are so powerful, the pictures tell you so much.” “Get them in a position where you can share the pictures with them and not just send them the pictures.” “When you walk them through these pictures, it tells them a story.” “People become numb to their own environments.” “Your job is to bring that awareness out again. When you tell them the stories and show them the photos, it really makes a huge impact.” “Renegotiations is something you're gonna have to deal with all the time.” “What you wanna do is become good at this and improve your overall communication with them, present evidence on things, and show them that you're coming from their side of the table.”

When I first started in real estate, we didn't have anyone in acquisitions. Nobody was doing that, we were doing everything on our own, and we were basically just buying deals. However, as our business grew and we started building different departments, we found the need for someone to do this job specifically, and that's how we started having acquisitions reps. Acquisitions isn't easy to deal with, but it's a job that makes bank when done right. You need to be focused and you need to be driven if you want to succeed. Watch this video to learn how you can be great at acquisitions so you can get more deals in your business! Key Talking Points of the Episode [00:38] Starting without a focus on acquisitions [01:25] How we built a team for acquisitions [02:14] You should be goal driven [03:21] You should be money driven [04:22] You should be open to things [05:32] Why are sales in real estate different? [06:35] You should be willing to start over again [07:33] Your mindset on acquisitions [08:26] How do you become strong in acquisitions? Quotables “We started bringing in different departments and creating boxes for people within the business, there are boxes of accountability.” “Those salespeople had to have some type of job title, and their job title was to buy properties.” “You could have one person or you could have a whole team.” “When it comes to acquisitions, it takes a person that to me, is extremely driven on things.” “A lot of people get really confused and they think you have to be this really great speaker who is always out there in crowds, meeting people. You don't have to be that.” “You have to be extremely driven towards goal, because otherwise, I can guarantee that you're not gonna make it in the acquisitions scene.” “Those acquisitions reps want to make a lot of money. They wanna come in, they wanna make bank, and they wanna do it over and over again.” “It is a sales position. It is very heavily focused on the money side of things.” “I think you gotta have some ego when you're in acquisitions, but at the same time, you gotta make sure that you don't come in thinking that you know more than somebody that's done it before you.” “The sales process might be the same, but overall, this is a much tougher business to work in because you're dealing with such high emotions here.” “You have to be in a position where you can talk to a seller, get cussed out, be told that you're a complete a-hole, and basically be able to exit from that call, reset, and start over fresh again with a new seller in a matter of 10 minutes or so.” “You gotta be focused on helping people out and creating solutions.”

People say if you think you can do everything on your own, you've already failed. I believe that's true because being in real estate for so many years, I've come to realize that forcing myself to do something I'm not good at won't get me anywhere. I've learned to leverage the skills and talents of other people so that I can focus on my box while they do theirs! I'm a visionary and my mind doesn't work the way integrators do. It's like yin and yang - you need to have one of each if you want to succeed. Watch this video to find out more about having an integrator in your business, what that means for you as the visionary, and why you should invest in one! Key Talking Points of the Episode [00:22] Starting a business and doing everything on your own [01:12] Being a visionary [02:05] Realizing the need for an integrator [03:05] Learning more about the differences between visionaries and integrators [04:15] What does an integrator do? [05:17] Playing both roles in the business [05:51] The growth of your integrator [06:19] Hiring an integrator for your business [07:35] Why most integrators fail [08:00] How to get your integrator ready for your business [09:02] Having an integrator can be one of the best investments for your business Quotables “We find out that we're that particular type of person, the visionary that can see the big picture, and have a lot of ideas.” “We can bring all of these ideas to the table, but we can't take it to the finish line.” “What I wanna do is I want to start at A and I wanna get to Z right away.” “My mind works totally different from other individual minds out there.” “What an integrator's focus is really about the operational piece of the business. Their job is to take your vision as a leader and execute the vision on a high level.” “If you have somebody that you can bring from the inside, I highly recommend that first. They already have the experience and a working knowledge of the business.” “If you do have to take it outside of things, be careful of that. There's a lot of people that understand overall operations and HR, but they don't understand your business and how it works.” “It has allowed my unique abilities to come out - it has allowed my mind to work the way it works.”

Do you know what a transaction coordinator is and why you need them in your business? When I was starting out, I didn't either. I had no idea what a transaction coordinator was because back then, you were just getting stuff done and that was it! Transaction coordinators are key players in your business, especially when you're planning to scale. Watch this video to learn more about transaction coordinators, the difference they have from title companies, and why you absolutely need to have one!

People say if you think you can do everything on your own, you've already failed. I believe that's true because being in real estate for so many years, I've come to realize that forcing myself to do something I'm not good at won't get me anywhere. I've learned to leverage the skills and talents of other people so that I can focus on my box while they do theirs! I'm a visionary and my mind doesn't work the way integrators do. It's like yin and yang - you need to have one of each if you want to succeed.

The Foundational Pieces Of Real Estate Investing Business

The flow to your real estate investment business - what is it and why do you need it? Everything has a flow to it. A process, a map, something that tells you what happens and how it works. The same thing applies to real estate investing and the sooner you have your flows laid out, the sooner you can become scalable. Watch this video to learn more about what makes a flow, why you need to have at least one in your business, and how you can use it to scale your business! Key Talking Points of the Episode [00:19] What is the “flow”? [01:16] Finding the flow in real estate investing [01:38] Creating a flowchart for the process [02:21] Having different product lines in your business [03:28] Building a flow for each product line you have [04:05] Preparing your business for scalability [04:23] Scaling your real estate investing business [05:25] Removing yourself from the moving parts [06:02] Action plans for scaling your business Quotables “Not only do you need to set up a flow for your real estate business, but also for each product line of your business.” “Some of the moving parts are gonna be the same in the wholesale business compared to rehabbing, but the other parts are going to be completely different.” “One of the best things I can tell you to do is to take some time and write out the flow of your business. That will have a major impact on how you can actually approach your business to prepare it for scalability.” “If you don't understand all the moving parts and lay that out where you can create a visual for somebody else to see that and see how that works, there's no way it can be a scalable model.”

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Connect with me! ⚡️ Learn how to scale your REI Systems & Operations: https://bit.ly/3j5dsRt

Connect with me! ⚡️ Learn how to scale your REI Systems & Operations: https://bit.ly/3j5dsRt

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