$100K A Month Wholesaling Real Estate Business Structure | War Room ep 001

$100K A Month Wholesaling Real Estate Business Structure | War Room ep 001



hey guys it's max Maxwell here and this segment of my youtube videos is called the wholesaling elite war room now this actually isn't the war room the war room is being built out so in the meantime we're gonna do a video here for everyone because on my Instagram lives and my youtube lines people have been asking what's the structure of my company so here we go I've sat down I put together a sheet to show you exactly how I plan to scale my business from $50,000 a month up to $100,000 a month so stay tuned watch this video and don't forget to subscribe and like if you learned something from this post everybody welcome to this episode of what we call the war room this is episode number one a lot of people have been asking me about breaking down how my business is structured and a lot of you know that I'm trying to grow my business my business up to one hundred thousand dollars a month and right now we're currently doing about 50 grand every month and we're scaling and this is the new system that we've implemented in our business now is it perfect I don't know I don't think so but it is what's gonna get us to $100,000 and as long as we stay consistent we're gonna be great alright so this is a one hundred thousand dollar month wholesaling biz structure now I'm not saying this is the only one that works but this is what's working for us okay and if you guys don't know my name is Maxwell if you're watching this for the first time please subscribe to my channel because I'm gonna be doing a lot more of these videos as you can see all right so it's going to slide one the key players in this game obviously me or you in your business in your case and this is how we break down our business okay I have a virtual assistant lead manager and I lo a lot of people say oh why do you want your first touch to be somebody that's in the Philippines that can barely speak any English that is not true the people that I hire in the Philippines speak better English than you and I put together so don't worry about them not speaking English and you're gonna be able to screen all your calls alright so my lead manager takes all the inbound calls for the company and calls any inbound marketing calls that happen such as anything that comes through any any inbound source that we have okay whether that's bandit signs Google pay-per-click anything that requires somebody calling or submitting a form online on our website you can find a VA around this price for about a hundred and sixty dollars or two hundred and forty dollars a week and what I've built in is somewhere around a fifty dollar per a lead contract and what a lead contract is is it's their job to screen the caller's as much as possible so they're not sending my acquisition manager on a wild goose chase every day going after appointment after appointment to non motivated sellers it's their job to wring the information out of the actual manager outside the contact or the lead itself okay next who is it was also admin and a very important part to our company is the virtual assistant admin this person is in charge of any list scrubbing any admin work any paperwork any type of that stuff and all these people work forty hours a week for us so they deal with anything that has to do with list scrubbing excel sheet building posting craigslist ads anything that they can do on the computer that alleviates a lot of the stuff that we don't have to do okay you could find this person probably around 150 to 200 dollars a week and what with the kind of bonuses you can do whatever you want but what we do is they get a hundred dollars per ten contract month okay that's moving on cold callers now I've mixed and played with this I've tried to hire american cold callers here locally in the office it didn't work out that well not saying i'm totally given up on it but what I found is cold callers in the virtual assistant world is also good so all of these virtual assistants that we have worked solely for us they're dedicated they feed their family off of the jobs we provide them and it works well for us so what we do is if you're gonna hire locally I'll explain what the locally person and how we have them set up they get a two hundred and fifty dollar a week draw and you can play with these numbers these are things that just we have work within getting and this draw is against Commission's so basically meaning they're going to spend we're going to spend two hundred and fifty dollars a week on them which is barely I mean it's ramen noodle food type of budget but two fifty a week and what happens is if they don't get a contract in the first month they don't perform then they're fired so what happened is the two fifty is a draw against commission and as you can see if they click if they get a inbound contract and the house closes it's $500 per inbound and $1,000 per and outbound so if you can't get one contract in the month you're probably not good in this business anyways for cold calling okay so let's move on to our courthouse runner this is a very simple job can be somebody that's older with a smartphone we pay them one hundred dollars per one hundred and fifty dollars sorry one hundred and fifty probate leads now I can go to the probate office and probably pull about 50 to 75 leads in one hour so all we required them is to basically work this person is literally working twenty-five dollars an hour for only four hours a week essentially or if their gun ho they can do it all and you know a couple hours and be done for the entire week in one day which is fine by me whatever okay then we have a signed placer this person gets paid a dollar and fifty cents per a sign and they aren't responsible for putting out a hundred signs a week now this signs can be put out anytime during the week but then would you we like the majority of them to happen during the weekend but we also like them to stay up we do not go and collect these signs these signs are you know they're just there and they get taken up by whoever wants to take them up other wholesalers or the city but I got a feeling it's a lot of the other wholesalers our acquisition manager gets 10% of the spread for a closed deal so that's pretty simple we all know what an acquisition manager does they go out on appointments that are sent to them from the VA lead manager or the cold caller okay and our disposition manager also gets 10% per closed deal and if you can understand at you know each of these guys should make around five to ten thousand dollars a month working in our company so with that being said you can see the key players in our business now let's kind of break down what each person does and go into the roles and if you notice here most of everybody that runs this company is actually virtually in overseas and you can see where myself where I hang out at is at the top because I chose to work on my business and not in it right so that I'm able my sole job is to prove is to go out and make sure those phones are ringing so I'm in charge of marketing you know anything that deals with marketing and any new lead sources that I can come up with or any type of ways to generate the phone's ringing so that the lead manager and the cold caller you know can do their job and it trickles downhill and it goes to everybody all right so the lead types here are the lead types and these are what we like in our company the most so these are what the only types that we work on 100% probate right bandit signs tax delinquent delinquent tax however you want to say these are people that are delinquent on their taxes we like to do at least by two years North Carolina we are a deed state so you lose your house if your house is foreclosed on we have the Secret vacant list that I don't talk about we'll never talk about can't tell you what it is but it's something we proprietary came up with on our company that is yield is probably you know twenty thousand dollars every single month since we got that list Google AdWords it's good if you can afford it do it we spend about two grand a month on Google Adwords and driving for dollars how I found my first deal and it's how I'm gonna find my last deal okay and obviously myself I go out there and network with people in order to get j-b deals and deals that don't actually cost money just a little bit of time in a relationship okay now in the next slide we're going to break down the structure of how each lead flow goes into and who's for what in our company okay probate all right so here's it goes our courthouse runner that we talked about they collect 50 leads a day three days a week takes an hour and a half to collect you know 50 leads scan their with their iPhone and upload it to the Google Drive which our admin VA has access to now like I told you before this person does not actually have to do it in three days they can do it all in one day it's totally up to them as long as we get a hundred and fifty per week which is important to us okay and our company has Google Suites which everybody has an email and we all share Drive and everybody knows where things are placed to go check what they're supposed to be doing for the job our admin virtual assistant adds the data to a spreadsheet in Google Docs so they take the information that is on the Probate lead and they add it and separate it into Google into the into Google Docs spreadsheet okay then the cold caller calls leads to find motivation books an appointment for the acquisition manager this is pretty simple and you're gonna see a pattern here as we move on the disposition manager coordinates a closing with the lawyer and prepares houses for pitchers videos and emails plus text blasts inspection day is set for the property and then the act was the acquisition manager goes out and puts a home on a contract okay so that is what we do for probate okay moving on to bandit signs bandit signs we order 1,000 18 by 24 double-sided one color bandit signs from dirt cheap signs every ten weeks okay we actually order about every eight weeks so that we have a runway time because their turnaround time is kind of slow we and I've checked everywhere this is the cheapest you're gonna get so if somebody has a cheaper resource please let me know if somebody has a discount code or it's something please give it to us because I would love to have it and pass it on to everybody else our sign placer puts out 100 signs in the city slash county wherever you are and they do it every week religiously so that we can keep those phone calls coming in calls are routed to our Vee a lead manager and motivation is gauged and the appointment is booked for acquisition manager so the CRM we use is investor fuse it's very good it handles our calls we use call rail which is the initial point of where the phone call comes in and then it's routed so we can track all of our marketing efforts the acquisition manager goes on appointments put it's a home on the contract and the disposition manager coordinates our closing with the attorney and repairs the house to be sold so this is easy on our number five here what we do is a highest and best offer sale on a lot of our hot properties will go as the highest and best offer sale I learned this from Sean Terry and kind of what it does is basically you are going to shoot out this you know this email blasts and text blasts with a inspection day period and this usually happen can happen on vacant houses or houses with the owner in you just work that out with the owner and these are potential investors of yours can walk through the house for a couple minutes and then we'll take the highest and best offer buy a set time that day once the highest and best offer is accepted you have the next business day by 10:00 a.m. to drop off the earnest money to the attorney with the contract and then the contract is what we call security all right moving on to tax delinquent so like I said before we are a tax deed state our tax list comes out sometime in April I believe that list is acquired by us and each single one of those people on that list are verified by our admin VA and they only take the people that are tax delinquent by two years okay so she puts that in a spreadsheet and then it goes to the same process the Col caller calls finds motivation books appointments acquisition manager goes on the appointments and the dispossession gets the house ready to be sold so it's not hard here guys it's pretty simple you just have to stick to it and do it religiously and you'll see you'll see definitely see results our secret evasive making list once we get this list and list is traced and entered into Google spreadsheet and the same process happened it's cold called the acquisition manager then goes on the appointment the disposition manage against house ready sold okay Google AdWords all calls are routed to the virtual assistant lead manager and motivation is gauged an appointment is booked for the acquisition manager and then the process repeats the acquisition manager goes on the appointments and puts the house on the contract the disposition manager gets the house ready to be sold so it's that simple so we know our key players you got the VA lead manager the VA admin the Col collar the courthouse Runner there's sign place or the acquisition manager and the disposition manager so that is also another you know that that's who we need and that's who we run I like to run slim I come from the technology world where we try to bootstrap our companies when we don't go out and borrow any money so we got to keep everything down and work efficient as possible so if you guys want to add that stuff up you can kind of see what it costs me every month to run a company how do you find a virtual assistant a lot of people ask it's important you need to find good virtual assistants I'm gonna tell you how I developed a relationship with my virtual assistant her name is Alexis she is my rock star she goes out and finds anybody and screens them for me and then it does the preliminary interviews and then I do the final interview and then tell who I want to hire send her an email it's Alexis at Cash Homes tribe comm she will do the same for you now here's upfront she will charge you one hundred and fifty dollars to set up and do the entire screening process so you get to the point where all you need to do is a Skype interview in Tel Aviv want to hire okay then you're going to she's gonna she's going to be in charge of your virtual assistant and you're gonna pay your first week in advance right so if you're getting four hours it says how are you gonna pay that in advance and then every week after that you're gonna be paying on a Friday we pay through PayPal make sure you send us friends and family because that fee they can't afford to to take that fee it's on your end you're already getting great labor and a great rate so do it that way okay so that's how I say you should find your VA if you want to do it on your own you can go to online jobs pH I will leave link in the description below if you want to do that okay hey guys so if you haven't yet downloaded my free ebook please do so it is completely free it's the real Maxwell comm slash ebook make sure you put the W WRL Maxwell comm slash ebook in your browser download it for free it's kind of my 10 steps some of the apps I use how I got my first deal and so on and so forth like that I think you guys will greatly appreciate it and you know I took some time to write it it's free you can buy it on Amazon I recommend you just getting it for me for free and it's got some good material in there and don't forget I do a weekly live Q&A on YouTube my vlog is up and running follow me on instagram at the real Maxwell and look I want to make sure you guys go out and get your first deal I hope showing you the structure of how our business is helps you and allows you to grow and scale like I said this might not be perfect for anybody or everybody but it works for us and if you notice in art we do know mailing there's no mailing involved I like to spend the money on humans and get a touch and go for it but if you guys follow me on Instagram and my youtube you already know how I feel about mail so I hope this has been helpful don't forget to subscribe share this video with a friend if they're gonna find it helpful and it's listen if you learned everything please hit that subscribe button share it with a friend and I will see you guys later thank you so much for tuning in