The Real Estate Wholesaling Bible

The Real Estate Wholesaling Bible

Wholesaling is one of Than’s favorite investment strategies. In The Real Estate Wholesaling Bible, The Fastest, Easiest Way to Get Started in Real Estate Investing, Than dives into the strategies and techniques for successfully wholesaling real estate.  Wholesaling is by far the quickest and easiest way to make a killing in the world of real estate investing. Think of it as the “day trading” of real estate, except it is far simpler and less risky. In fact, when you learn how to do it the right way, you won’t take on any risk at all. The Real Estate Wholesaling Bible teaches you everything you need to know to profit from real estate wholesaling, without any money, credit, or experience to get started. This rapidly expanding business is simple, profitable, and perfect for today’s real estate market. Plus, it’s an ideal system for making money even in the toughest of real estate markets. All you will need to get started is a computer, an Internet connection, this book, some passion, and a lot of curiosity.

• Teaches the mechanics of how to wholesale real estate, including exactly how to find, analyze, finance, and sell wholesale deals like clockwork
• Explains how to actually build a business and develop systems that are not dependent on you as the business owner
• Shows how to develop a turn-key, systems-dependent business that serves as a vehicle to all the people it touches: the owners, employees, and the community

Many real estate investors idea of success focuses squarely on profitability. Author Than Merrill believes success happens when your real estate investment business is not only profitable, but also gives you the time to enjoy your life and fulfill your passions and dreams.

Chapter 1 Wholesaling Overview – What’s In It For You?

• The Benefits Of Learning How to Wholesale Real Estate

Chapter 2 Getting to Know Your Local Real Estate Market

• The Importance of Gaining Intimate Local Market Knowledge
• Step 1: Gain an Understanding of Local Market Metrics
• Step 2: Get to Know Price Points of Properties by Neighborhood
• Step 3: Understand Zoning Laws Within the Market
• Step 4: Study Your Competition
• Step 5: Identify Key Real Estate Professionals in the Market
• Set Your Focus
• Conclusion

Chapter 3 Establishing Your Marketing Presence

• Foundational Marketing Materials
• Business Cards
• Seller Credibility Packet
• Buyer Credibility Packet
• Private Money Credibility Packet
• Core Website
• Facebook Page for Your Business
• Easy-to-Remember Phone Number
• Memorable Business Name
• Logo & Business Color Schemes
• Conclusion

Chapter 4 Understanding the Pre-Foreclosure Process

• What is a Foreclosure & How to Learn Your State’s Process
• Types of Foreclosure
• Buying Properties from People in Foreclosure
• Conclusion

Chapter 5 Finding Pre-foreclosure Properties

• Finding Recent Pre-foreclosure Property Filings
• Conclusion

Chapter 6 Finding Wholesale Deals Utilizing Direct Mail Campaigns

• Step 1: Find the Best List
• Step 2: Decide How Many Times You Will Mail the Prospect
• Step 3: Create a Spreadsheet to Track Your Mailings
• Step 4: Determine What Types of Direct Mail Pieces You Will Use
• Step 5: Craft a Compelling Message
• Step 6: Choosing Postage
• Step 7: Setting Up Your Inbound System
• Step 8: Fulfilling Your Campaigns
• Step 9: Response Rates
• Conclusion

Chapter 7 Finding Deals on the Multiple Listing Service

• The MLS Offer System
• Outsource Steps Within The System
• Conclusion

Chapter 8 Finding Deals Utilizing Craigslist

• Searching For Properties Under the “Real Estate for Sale Section”
• Searching For Properties by Keyword
• Contacting Landlords Who Are Renting Properties
• Contacting People Having Estate Sales
• Creating Advertisements That Get People to Contact You
• Create a Compelling Ad Title/Headline
• Using Symbols to Make Your Title/Headline Stand Out
• What The Body of Your Advertisement Should Communicate
• Conclusion

Chapter 9 Other Killer Ways to Find Profitable Real Estate Deals

• Purchasing Internet Leads
• Questions You Want to Ask About Purchasing Internet Leads
• Facebook
• Facebook Ads
• Other Real Estate Professionals & Investors
• Door Hangers
• Bus Bench Advertising
• Banners
• Vehicle Wraps
• Car Magnets
• Billboards
• Television Advertising
• Conclusion

Chapter 10 Overview of How to Value Real Estate

• The Cost Approach
• The Income Approach
• The Sales Comparison Approach
• A Word of Caution
• You Always Want to Determine the Highest and Best Use of the Property
• Your Goal as a Wholesaler When it Comes to Making Your Offers
• Conclusion

Chapter 11 Deal Evaluation System “Stage 1: Gathering Information”

• Vital Information You Need to Gather in Stage One
• Tools I Recommend To Gather & Track Information
• Conclusion

Chapter 12 The Deal Evaluation System “Stage 2: The Desktop Evaluation”

• Step 1: Confirm The Property Details By Reviewing the Property Card
• Step 2: Pull the Listing Sheet if the Property is Listed with an Agent
• Step 3: Understand What You Are Trying to Determine with The Sales Comparison Approach
• Step 4: Find The Best Comparables Using the Multiple Listing Service
• Step 5: Look for Off Market Comparables
• Step 6: Analyze the Sold Comparables to Determine if the Property Is Worth Visiting at This Point
• Step 9: Classifying Your Leads
• Step 7: Prepare Your “Comparable Package”
• Step 8: Prepare Your “Buying Appointment Package”
• Conclusion

Chapter 13 Deal Evaluation System “Stage 3: The Property Visit”

• How I Start Filling Out the Comparable Sales Adjustment Grid
• Performing Drive By Inspections of the Subject Property & Comparables
• Examining Comparables that are Active and On Deposit
• Making Adjustments
• Calculating Adjustments
• Conclusion

Chapter 14 Estimating Repairs on Properties

• The Repair Cost is a Critical Number You Need to Know to Make the Right Offer
• The System We Use to Estimate Repairs
• Exterior Repairs
• Interior
• Mechanicals
• Other
• Things to Be Aware of That Can Greatly Enhance the Value of a Property
• Conclusion

Chapter 15 Negotiating & Making Offers to Sellers

• Negotiate With Confidence
• Step 1: Understand & Uncover The Sellers True Needs & Desires
• Step 2: Research the Seller or Agent You’re Negotiating With
• Step 3: Know What You Are Offering Before Meeting With the Seller
• Step 4: Property Walkthrough
• Step 5: Build Rapport & Dive Deeper Into The Seller’s Motivating Factors
• Step 7: Explain How You Can Help the Seller
• Step 8: Frame Your Offer
• Step 9: Handling Objections Effectively
• Step 10: Sign the Purchase and Sale Agreement
• Conclusion

Chapter 16 Understanding Purchase & Sale Agreements

• Parties Involved
• Description of Real Estate
• Personal Property Included In the Sale Price
• The Purchase Price and Financing
• Where Deposits Are Held
• Financing Contingency
• Condition of Premises
• Inspection Contingencies
• Statement Regarding Lead Based Paint
• Occupancy, Possession, and Closing Date
• Deed Type
• Marketable Title
• Adjustments
• Buyers Default Clause
• Sellers Default Clause
• Risk of Loss & Damage
• Addendums
• Time to Accept
• Conclusion

Chapter 17 How to Get the Money for Your Wholesale Deals

• Conclusion

Chapter 18 Working With Private Lenders

• What Exactly Is “Private Money?”
• How Is The Lender Protected?
• Turning People Into Private Money Lenders
• Finding Existing Private Money Lenders
• Can You Openly Advertise for Private Money Lenders?
• Meeting With The Lender for The First Time
• Conclusion

Chapter 19 Working With Transactional Lenders and Hard Money Lenders

• What Is Transactional Funding
• Hard Money Lending
• When Will Use a Hard Money Lender When You Are Wholesaling
• Know the Terms
• Qualifying For A Hard Money Loan
• Locating Hard Money & Transactional Lenders
• Conclusion

Chapter 20 Building a Trophy Database of Buyers

• How You Can Leverage a Database
• You Must Have Software to Build a Trophy Database
• Conclusion

Chapter 21 Networking to Find Buyers

• Strategic Networking Opportunities
• Networking With Other Real Estate Professionals
• Hard Money Lenders
• Other Wholesalers
• Real Estate Agents
• Mortgage Brokers
• Contractors
• How To Build Relationships and Stand Out From the Crowd
• Conclusion

Chapter 22 Direct Response Marketing Strategies to Find Buyers

• Craigslist, Backpage and Other Online Classified Ad Websites
• Facebook Real Estate Groups
• Company Website
• Lead Generation Pages also called Squeeze Pages
• Penny Saver Newspapers
• Reaching Out to Your Competition
• Cash Buyers
• Conclusion

Chapter 23 Marketing Your Wholesale Deal

• Make Sure Your Trophy Database is Organized
• Assemble The Critical Information into a Wholesale Deal Marketing Package
• Call Your Most Serious Buyers First
• Email Blasts
• Text Blasting
• Voice Broadcasting
• What If You Have a Deal You Want to Sell But Don’t Have a Buyers List?
• Conclusion

Chapter 24 Classifying, Prescreening, and Communicating with Buyers

• Classify Buyers Within Your Trophy Database
• The Importance of Prescreening Buyers
• What To Do When Buyers Contact You
• What You Need to Know About a Buyer
• Communicating Properly and Training Your Wholesale Buyers
• Conclusion

Chapter 25 Working & Negotiating with Buyers

• Know The Comparable Sales in The Area
• Have An Accurate Repair Cost
• Always Create a Sense of Urgency
• Common Negotiating Techniques Buyers Use
• What If The Buyer Thinks Your Making Too Much
• Confirming Funding
• Case Study
• Conclusion

Chapter 26 How You Profit – Selling a Contract

• What Does It Mean to “Sell a Contract”
• Completing the Assignment of Real Estate Purchase and Sale Agreement
• How Do You Get Paid?
• Coordinating the Closing
• Common Questions
• What’s a Better Exit Strategy: Selling a Contract or Double Closing?
• Common Misconceptions About Wholesaling
• Conclusion

Chapter 27 How You Profit – Double Closing

• What Is a Double Closing
• What To Be Aware Of When Your Sign the First Purchase and Sale Agreement on The A-B Transaction
• What To Be Aware Of When You Sign the Second Purchase and Sale Agreement on The B-C Transaction
• Always Know How the Buyer in the B-C Transaction is Planning on Funding the Deal Before You Sign a Second Purchase and Sale Agreement
• What Else To Look For From Your C Buyer
• Don’t Pass Funding Through
• Always Have Legal Council
• Conclusion

Chapter 28 The Real Estate Closing Process Explained

• Who Handles the Escrow and Closing
• What Is Required to Open Escrow
• Who Selects the Escrow Company
• Are You Opening One Escrow or Two
• What Happens During Escrow
• What Do You Do To Prepare For Closing
• What Can Cause Delays During the Closing Process
• What to Check the Day Before Closing The day before closing you will want to ensure that everything is ready for the closing taking place the next day. Here is what you should do to make sure the closing
• What Takes Place At the Closing
• How To Ensure There Are No Snags the Day of Closing
• Hiring Someone to Help You Process Your Wholesale Deals
• Conclusion

Chapter 29 Building Your Local Team

• Real Estate Agents
• Locating The Top Agents In Your Market
• Hard Money Lenders
• Mortgage Brokers
• Insurance Agents
• Contractors
• Conclusion

Chapter 30 Building Your Business Advisory Team

• Real Estate Coaches
• Marketing Mentors
• Negotiation & Sales Mentors
• Business Management Mentors
• Legal Mentors
• Tax Mentors
• Mastermind Group
• Conclusion

Chapter 31 The Path of Smart Growth

• Preparing for Growth
• Managing Your Time
• Develop Systems
• Don’t Try To Grow Too Quickly
• Integrate Technology Into Your Business Management Systems
• Hiring Employees and Scaling Your Business
• Constantly Improve Your Leadership Skills