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Building a successful wholesale real estate business doesn’t have to be a complex endeavor. By implementing a straightforward yet powerful framework, you can set yourself on a path to success. This blog will explore the CVC (Clarity, Volume, Consistency) framework, developed by Brian Luebben through his extensive experience and interviews with top performers in various fields, including real estate. By focusing on these three key components, you can build a resilient and thriving wholesaling business.
Brian Luebben has developed the CVC framework through his experience interviewing hundreds of millionaires and billionaires on his own podcast, Action Academy. He has noticed patterns among successful individuals in various fields, including real estate, and has distilled these patterns into a simple, actionable framework.
Clarity
The first component of the CVC framework is clarity, which consists of three levels: directional, sequential, and tactical. Directional clarity involves knowing where you are heading and why you are doing what you're doing. This means having a clear vision of the life you want to lead and how wholesaling fits into that vision.
Sequential clarity involves knowing how fast you want to achieve your goals and creating a business plan accordingly. Tactical clarity involves finding people who have already achieved the results you are seeking and modeling their processes and strategies.
"The more clear you are, the easier this person is to find. And there's only going to be like, you know, a handful of people that are running any market. Any market, there's a handful that are at the top." - Brian Luebben
Luebben emphasizes the importance of providing specific value when reaching out to successful individuals in your market. Rather than asking to pick their brain or offering to do anything for free, it's crucial to identify their bottlenecks and offer targeted solutions. This could involve introducing them to potential investors, helping them tour properties, or assisting with various aspects of their business.
Volume
The second component of the CVC framework is volume, which refers to taking the proper amount of action to achieve your goals. Luebben shares a story from his time as a sales representative, when he learned from the top rep in the country that she made 20 cold calls a day and did 50 door knocks per week. By following this same volume of activity, Luebben was able to achieve similar success.
In the context of wholesaling, this means sending out a sufficient number of mailers, making enough cold calls, and consistently driving for dollars. David Lecko notes that many people who don't find success with DealMachine have only added ten properties, when in reality, a much higher volume is necessary.
Consistency
The final component of the CVC framework is consistency, which is often the most challenging aspect for many people. Even with clarity and the proper volume of activity, results may not be immediate. It's essential to maintain consistency over an extended period of time to yield the desired outcome.
Ryan Haywood likens this concept to the "parachute effect," where individuals start strong but then become comfortable and slow down their efforts. He emphasizes the importance of staying in the "free fall zone" and maintaining consistency to avoid a slowdown in business.
Luebben breaks down the three to five steps for closing your first wholesale deal:
- Use the DealMachine app to drive for dollars and add 250 leads every week for the next month.
- Start making connections with other investors through local real estate groups and meetups.
- Familiarize yourself with a formula to analyze deals and be prepared to make offers on the spot.
- Once you have a property under contract, pitch the deal to your network of investors.
By following the CVC framework and implementing these actionable steps, aspiring wholesalers can increase their chances of success and avoid common pitfalls in the real estate investing journey.