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If you’re an intermediate wholesaler doing 15 to 25 deals a year but still feel stuck in solopreneur mode, you’re not alone. Many find themselves in this situation with only one team member and a desire to scale. Here are some practical tips to take your business to the next level without the need for a massive team.
Bringing on employees such as acquisition agents, marketers, and sales agents can allow you to scale. However, not everyone wants to manage a large team. If you’re not keen on having a 35-person team, don’t worry. There are other ways to grow your business.
Co-wholesaling offers a strong and proven way to scale. By leveraging the systems you’ve already set up for sourcing and selling deals, you can grow without heavy investments in marketing or a large team.
When starting out, you likely spent 40 hours a week on marketing. As you grow, it’s time to shift those activities. Hire a team member to handle a chunk of your marketing efforts. Meanwhile, focus on networking and partnerships.
Start attending Real Estate Investment Association (REIA) meetings regularly—aim for at least two or three a week.
Private capital allows you to do flips, purchase properties, and take advantage of new opportunities. By discussing your business at REIA meetings, you can attract potential private capital partners.
Attending multiple REIA meetings helps you gather contact information from numerous attendees. Meeting roughly 25 new people per meeting can add up to about 175 new contacts a week. Over time, this builds a robust and fresh buyers list.
Partnering with new wholesalers is key to scaling. Many new wholesalers are nervous about various aspects of the business, such as offloading a contract or making the right offer. By offering to help them with these challenges, you can create a win-win situation.
Offer to work with them on a 50/50 split. You handle the selling, they bring the leads. This approach can transform your business from doing 15 to 25 deals a year to 70 to 100 deals, without the overhead of a large team.
Scaling your wholesaling business doesn’t have to mean managing a large team or making heavy investments. By leveraging other people’s time, engaging in co-wholesaling, and shifting your focus to networking and partnerships, you can grow your business significantly. Attending REIA meetings and purpose-driven networking will help you build a robust buyers list and attract private capital.
Collaborating with new wholesalers can create mutually beneficial partnerships that drive growth. With these strategies, you can transition from a solopreneur to a thriving business, achieving greater success and higher deal volumes without the burden of a large team.
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