Real estate wholesaling can provide financial freedom through a proven business model. However, consistently generating deals requires honing your approach over time. In this article, we'll explore key insights from wholesaling experts David Lecko and Ryan Haywood on foundational techniques as well as pushing boundaries to scale.
Wholesale real estate involves finding rundown properties, getting them under contract below market value, passing the deals to real estate investors for a fee, and facilitating the closings. It's a straightforward concept that's worked for many, but mastering the execution takes diligence.
David Lecko created the DealMachine software to help people close over 10,000 wholesale deals across all 50 states over 7 years. DealMachine's systems optimize outreach for maximum efficiency.
Ryan Haywood got started wholesaling through a 30-day challenge in 2019. He landed his first deal in just 14 days and has now completed over 400 transactions with a thriving full-time business.
When starting out wholesaling, Ryan and David emphasize sticking to proven methods to build confidence through early wins.
The classic driving for dollars technique involves:
This straightforward outreach strategy works if you stay consistent. As Ryan notes, it served as the core of his marketing for the first 5 years of his business.
Once consistent monthly deal flow is established, exploring new strategies can uncover growth opportunities while continuing what already works.
Ryan recently introduced an expanded driving for dollars approach called 360° marketing:
This layers in more contacts per lead to increase response rates by trying multiple formats. DealMachine helps track status as well.
Wholesaling takes work, but with the right systems in place optimizing your deal flow, the financial freedom makes it worthwhile.