3 Ways To Comp Your Wholesale Deals & Calculate Your Maximum Allowable Offer For 5 Figure Profits
06/19/24 • 35 min
#15 In today's episode, Watson shares three key methods to determine the property's value and calculate the maximum allowable offer, designed to help beginners and seasoned wholesalers alike turn deals into substantial profits. Tune in for practical insights on using tools like Redfin and Propstream, building rapport with sellers, and navigating the intricacies of the distressed property market.
Watson also unpacks the art of negotiating property deals by understanding the seller’s true motivations and needs. He dives deep into the importance of results-based conversations, revealing how asking the right personal questions can shift negotiations from mere price-focused discussions to mutually beneficial solutions.
Whether you’re just starting out or looking to refine your strategies, this episode is loaded with actionable advice to help you close more deals effectively. Plus, don’t miss Watson’s top tips on bridging the gap between a seller’s problems and the solutions you can provide. Let’s get started!
0:00
Intro
What's An Offer
Comp Formula #1- BRV
Comp Formula #2- ARV
Comp Formula #3- LRV
Call To Action- 1,2, or All 3
Outro- Join Waiting List For Wholesale High Skool Community
Join The Waitlist For The Wholesale High Skool Community🎓
Subscribe to The Whole(sale) Truth Podcast and follow me on instagram @i.m.watson
Propstream- 7 Day Free Trial
Subscribe to our Newsletter and Get the Agreement of Sale and Assignment Contract that Watson uses for FREE!
www.thewholesaletruth.com
#15 In today's episode, Watson shares three key methods to determine the property's value and calculate the maximum allowable offer, designed to help beginners and seasoned wholesalers alike turn deals into substantial profits. Tune in for practical insights on using tools like Redfin and Propstream, building rapport with sellers, and navigating the intricacies of the distressed property market.
Watson also unpacks the art of negotiating property deals by understanding the seller’s true motivations and needs. He dives deep into the importance of results-based conversations, revealing how asking the right personal questions can shift negotiations from mere price-focused discussions to mutually beneficial solutions.
Whether you’re just starting out or looking to refine your strategies, this episode is loaded with actionable advice to help you close more deals effectively. Plus, don’t miss Watson’s top tips on bridging the gap between a seller’s problems and the solutions you can provide. Let’s get started!
0:00
Intro
What's An Offer
Comp Formula #1- BRV
Comp Formula #2- ARV
Comp Formula #3- LRV
Call To Action- 1,2, or All 3
Outro- Join Waiting List For Wholesale High Skool Community
Join The Waitlist For The Wholesale High Skool Community🎓
Subscribe to The Whole(sale) Truth Podcast and follow me on instagram @i.m.watson
Propstream- 7 Day Free Trial
Subscribe to our Newsletter and Get the Agreement of Sale and Assignment Contract that Watson uses for FREE!
www.thewholesaletruth.com
Previous Episode
5 Things I Wish I Did (Plus The 1 Decision I Made) Before I Got Fired. The S.I.M.P.L.E. Method To Prep For Wholesale Career Success
#14 In this episode titled "5 Things I Wish I Did (Plus The 1 Decision I Made) Before I Got Fired: The S.I.M.P.L.E. Method To Prep For Wholesale Career Success," Watson dives deep into the fundamental aspects of preparing for a successful career in real estate wholesaling. Drawing from his own experience of transitioning from a business banking job to a full-time real estate wholesaler after an unexpected firing, Watson shares invaluable insights and actionable steps to ensure you're ready for the leap.
We explore the "S.I.M.P.L.E. Method" of wholesaling career prep, including the importance of choosing the right escrow and title companies, budgeting for marketing, planning for insurance and benefits, and the necessity of mentorship and community. Watson underscores the need for building confidence through successfully closed deals before leaving your current job and emphasizes the value of joining real estate investment associations for guidance and support.
Whether you're considering a full-time move into real estate wholesaling or looking to fortify your business strategies, this episode provides practical advice and proven techniques to set you up for success. So sit back, take notes, and get ready to unlock the potential to thrive in real estate wholesaling!
Join The Waitlist For The Wholesale High Skool Community🎓
0:00
Intro
Fired After 7 Months
What's Your Current Job Status
S- Savings (For Marketing- Google PPC, Pay Per Lead, Direct Mail, Cold Calling)
I- Insurance & Other Benefits
M- Mentorships (Join The Waitlist For Wholesale High Skool)
P- Proof Of Workmanship
L- Logistics
Subscribe to The Whole(sale) Truth Podcast and follow me on instagram @i.m.watson
Propstream- 7 Day Free Trial
Subscribe to our Newsletter and Get the Agreement of Sale and Assignment Contract that Watson uses for FREE!
www.thewholesaletruth.com
The Wholesale Truth Podcast - 3 Ways To Comp Your Wholesale Deals & Calculate Your Maximum Allowable Offer For 5 Figure Profits
Transcript
Because if you're running your comps right and I'll show you a couple methods on how to do that. Your numbers should be good. But if you're not building rapport, building trust, and actually solving a problem for the seller, that number, even if it makes sense, may still get rejected by your seller.
Welcome, welcome. Welcome to the Wholesale Truth podcast. I am your host, Watson sing Sonly. And in this podcast, I share all of the storie
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