Wholesaling Houses - “when do i get the money?”

CLOSED CAPTION BY YOUTUBE! when do I get the money money anyway stay tuned hey my friend this is all coming to you live from my Empire Pro Studios on the road with right now I'm in a place called a Portland Ohio something like that that's what I'm at you know but anyway I'm still on the grind we're still moving right now I want to talk to you about this question that I saw came in you'll be able to see the question on the screen but I'll read it to you the question says thank you thank you mr or mr. okay thank you mr. for your amazing lectures lectures okay if you want to call the lectures but I have a question which most youtube tutorials and do not teach when I have a seller that signs my contract if he or she asked hey where do I get the money would I tell them Wow that question is a loaded question now here's the thing okay before I dive into answering that question let me first of all bring you up to speed if you're watching one of my videos you're brand new here first of all congratulations to you subscribe to the channel that's the first thing I wanna do click that red button or whatever it is subscribe button and click the bell next to it so you can join the notification squad okay also make sure you share and this video if you like it by the time you're done watching this video if you like it you know anybody that benefit click like click Share and I'd like to know your thoughts just comment below so now in dive into the question this question is essentially designed for those people that are that I in real estate wholesaling okay you what what happens in real estate wholesaling is that you find a good deal of distressed property usually they come from distressed situations and you put them on that contract for sixty-five percent of the after repair value minus the repair cost and then you turn around and you flip that contract for a fee so you can assign the contract to another person for a fee whatever the legal time that you want to use so that's wholesaling okay it's pretty much finding houses very cheaply putting them on that contract a lot of times in a lot of states you don't have to use your money you just put them on that contract that means they are going to sell it to you at a certain price and you turn around and you sell that equity would interest for a fee that's essentially what Hotel in this so this person is asking somebody signs a contract but then that means a seller signs a contract to sell your property and then they ask you when do I get the money well that question that kind of question can only come from somebody that's not very educated okay and I doubt it's very unlikely that somebody who owns a home would ask that question and not know that you get the money when you get to closing there's a closing that needs to happen there's quite a few due diligence that you have to do in the conventional real estate transaction when you put a house on the contract you now go do inspection you do appraisal right you have to process a loan you know or in a conventional situation that's what you would typically go through and that can take anywhere from twenty twenty-five thirty days to 45 days it could take that long you know to put all that together because do you have to compile paperwork and things like that you know if it's cash it can take a lot less okay so you can ask you when do I get the money well it's not closing and then so first of all you wanna make sure you are talking to the right person okay if you're talking to somebody that has never owned a real estate of course they will give you such answers but but that's not what we want okay we you want to be talking to somebody who knows that they're not gonna get in money right now you will have to do some due diligence which includes inspection includes a few other things and not to speak of you're really coming to the table as a wholesaler as a wholesaler your community table as a solution creator cognitive as a problem-solver okay so the noggin if you're talking to somebody that really needs the solution you bring to the table they're not gonna be asking you when do I get the money okay they're not gonna actually ask you that question they may ask when do we close how soon can we close and then you can answer them by simply say hey listen we buy a lot of houses around here I just gotta put a few things together and I'm gonna reach out back to you and let you know and that's when you're gonna go talk to your private investors in your network which is why you should be building a list of investors cash investor regular investor whatever you wanna call it you should be building an active list of those people because what you're gonna go do is go notify your subscribers list of buyers and investors and let them know you got a new property on the contract who wants it right so you can you can be up front and be very authentic and be and be very honest with your seller by simply saying hey I don't know but I want to put on that contra right now because I like the numbers okay I just got to talk to a few few partners so we can get going and moving faster okay that is that what I just said right there is not good for a seller they're just not motivated enough okay don't waste your time with them okay don't allow them to waste your time don't waste their time let them go and go look for them again you're a marketer you're primarily marketer so you should always be having such calls coming in and you're looking for that sweetie call that sweet deal that person that it's motivated and they know what they're looking for okay so that's that right there so if you're talking to the right person so how do you talk to the right person how do you make sure you're talking to rival what's the number it's a matter of as a completion of quantity and quality okay there's no one without the other okay for you to find the quality in this marketplace in your marketplace you have to go through quantity of motivated quote unquote sellers okay you gotta go to quantity of people raise up your hand and say they're a seller and two for you to find a good deal you don't have to go through a fair amount talking to people you know how many I don't know it depends on your area and when people ask me that question it's typically because they're thinking and they get rich quick type of mindset and that never works okay and what that does free is you give yourself ultimatum you don't want to be giving yourself an ultimatum what I can tell you is that go talk to your first 100 people before you complain okay go talk to your first 100 people if you haven't closed a deal after I talking to 100 motivated sellers then you and I can have a conversation and what you may be doing wrong maybe you could be talking to the wrong type of people or maybe you're saying the wrong things today right people but I want you to keep something in mind okay that's a rule of thumb yes we want to master the skills of talking to people yes we want to make sure we're targeted right people but I want you to know that if you are practicing in the numbers game and you're practicing consistency which is the number one secret to success right if you're doing that then you can never say the wrong thing to the right person okay and you can't say the right thing to do now let me say that again you can never say the wrong thing to the right person okay and you can't there's a what I'm trying to say okay you can't see the wrong thing to the right person okay let me just say like that okay if it's the right person okay even if you see the wrong thing because you provide that solution you're bringing a solution stable it's gonna work out and they're gonna help you say what you're trying to say and then I should go along you actually get better so the game is always a numbers game which is why I always suggest to you you should learn how to drive traffic online traffic offline traffic you should learn how to generate your own traffic generate your own leads in abundance okay because when you do that you have options and what you have options it shows up in your confidence okay and how do you have options by increasing your knowledge about how to drive traffic online traffic okay why do I say on that track because we are all online okay you know gone are the days maybe five six years ago you say online offline or there's no such thing as offline anymore everybody is online you're watching me online right now chances are the next thing you're gonna do right now is gonna be line the TV you're gonna watch it's all online the phone call you're gonna make is all transmitted all online we're all connected online digitally okay so when I say drive traffic I'm saying online because number one is gonna because it's the most cost-effective way for you to attract leads and prospects okay plus also you can measure you can really measure and track and smart goal when you set SMART goals you want to make sure it's measurable that's what the M and it started stands for okay that's Smar t in a SMART goal right the M stands for measurable that means you can track what you're doing and that's the beauty about learning how to drive traffic online so why would you do that a game again you want to have options the option you have options it shows up in your confidence when you're talking to people you shows up and how you talk and then you have a very minimal chance you're gonna say the wrong thing because you have confidence because you know once they decide they don't want to do business with you they can keep it moving right but you have other options to talk to you have all the people you can talk to about your business okay so again to answer your question when do I get the money it's typically because you're talking to the wrong person people get money out of closing and you can always say that I said you get your money out closing okay let me put this on that contract you could keep it very straight face keep it straightforward and keep a straight face and tell them simply what the truth is which is hey I'm gonna go walk this out I like this number sign right here sign on the dotted lines I gotta talk to my investors on my network and I'll get back to you tomorrow within 24 hours and let you know how things are gonna move and how fast or how slow it may move it depends on a couple of things but I like what I'm seeing you say that and you keep it moving okay because again confidence is everything in this in any business for that matter that make sense so hopefully that makes sense hopefully that helped right again if you're not lighten and you've been entertained and you're educated please give me a like share comment below okay give me more questions okay because it causes me to keep bringing you what you want do what you want to learn right so yeah post your comment your thoughts below so we can engage in a conversation but more importantly if you want to learn traffic like I just said online you want to grab my book my book is called Empire lifestyle the book is absolutely free you go to that link on the screen or the link in the description box click on it it take you all the way inside and you can take advantage of all the information inside hopefully you've been enlightened and educated and I'll see you on the next one and do you own a business do you want to build the business to massive profits learning how to generate online traffic of leads followers customers and high pay clients on demand this is the number one reason why 95% of businesses fill and shut down in five years or less do you want to start a business from home building your own very own Empire then help other businesses get massive traffic of high-paying clients and profit six figures income or more in your first year how it's all in the book get the book Empire lifestyle secrets at www.opm.gov/openseason it's a seven lessons online course that I created just for you called smart business empire access will be delivered to your email with your free book Empire lifestyle secret www.mptv.org