Scaling a wholesale real estate business to seven figures in under a year is no small feat, but Bob Lachance has proven it’s possible with the right strategies and tools. Leveraging the power of virtual assistants (VAs) for lead generation and combining it with targeted marketing channels and ongoing team development, Bob has set a benchmark for what’s achievable in real estate wholesaling. With over 20 years of experience and a track record of success, his journey offers actionable insights for anyone looking to grow their real estate business efficiently and profitably.
Bob's Real Estate Journey
Bob entered the real estate world in 2004 after a professional hockey career. His first deal—a rehab project—netted him $32,000, sparking a journey that included over 1,500 short sales. His ability to adapt to market changes has been pivotal in his long-term success.
"You just gotta ride the wave," Bob says about the ever-changing landscape of real estate.
2024 Performance Highlights
In 2024, Bob closed 133 deals with an average deal size of $22,455, generating $3 million in total revenue. Even after expenses, this performance is exceptional and highlights the effectiveness of his strategies.
The Power of Virtual Assistants (VAs)
Bob employs eight VAs for text messaging and six for cold calling, generating leads that his team of seven acquisition specialists converts into approximately 16 closed deals per month. This setup highlights the scalability and cost-effectiveness of using VAs in real estate.
Why VAs Are Essential
- Lead generation: VAs handle the initial outreach through text messaging and cold calling.
- Cost-effective: Employing VAs is more affordable than hiring a large in-house team.
- Scalability: VAs allow Bob to scale his business efficiently without huge overhead costs.
Marketing Strategies
Bob's primary marketing channels include text messaging, cold calling, direct mail, PPC, and driving for dollars. He is considering adding TV ads to his arsenal post-election season. Here's a breakdown of his marketing efforts:
Text Messaging
Text messaging remains a cornerstone of Bob's strategy. Despite some industry claims that it's dead, Bob has closed 76 deals this year through text messaging alone. His VAs follow a specific script, which is continuously adjusted to avoid spam filters.
Cold Calling
Cold calling complements text messaging, bringing in leads that require more direct engagement. Bob's team ensures that the scripts used are effective and allow room for personalization.
Other Channels
Bob also employs direct mail, PPC, and driving for dollars. These methods create a diverse funnel, bringing in leads from various channels and increasing the chances of closing deals.
"Sales training is absolutely imperative," says Bob.
Scaling Your Business
Scaling your wholesaling business doesn’t have to be overwhelming. Bob Lachance shares three key strategies to grow efficiently:
1. Start with Virtual Assistants (VAs)
VAs handle text messaging, cold calling, and data management, freeing you to focus on high-value tasks like negotiations. They are cost-effective and scalable, making them ideal for businesses starting out or expanding.
Pro Tip: Start with one VA and expand as needed.
2. Invest in Training
Continuous sales training improves your team’s confidence and conversion rates. Weekly sessions on scripts, negotiation skills, and role-playing scenarios keep your team sharp and adaptable.
Pro Tip: Use metrics like lead-to-contract ratios to track progress.
3. Diversify Marketing
Using multiple channels like text messaging, cold calling, PPC, and direct mail ensures a steady lead pipeline and reduces reliance on any one source.
Pro Tip: Monitor ROI for each channel and focus on what works best.
By leveraging VAs, prioritizing training, and diversifying marketing, you can scale your business efficiently and sustainably, just as Bob Lachance did.
Conclusion
Bob Lachance’s $3 million success in nine months isn’t just a story of numbers—it’s a testament to the power of smart strategies, consistency, and innovation. By integrating VAs into his operations, diversifying his marketing efforts, and prioritizing team training, Bob has created a scalable model that any aspiring wholesaler can follow.
Whether you’re starting or looking to take your business to the next level, Bob’s experience underscores the importance of leveraging resources effectively and staying adaptable in an ever-changing market. With the right mindset, tools, and commitment, scaling your business to new heights is entirely within reach.
