How To Wholesale 3 Deals Per Month (EXACT Metrics Explained) | Flipping Mastery Show
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 23 June 2024
⏱️ 10 minutes
🧾️ Download transcript
Summary
Today on the Wholesale Hotline Podcast (Flipping Mastery Edition) Jerry breaks down the exact numbers you need to hit to do 3 deals per month.
Show notes -- in this episode we'll cover:
- The 5 metrics you need to measure.
- The exact numbers you need to hit if you're goal is 3 deals per month.
- How to improve your LOACC.
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☎️ Welcome to Wholesale Hotline & Flipping Mastery Breakout! ☎️
Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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Transcript
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| 0:00.0 | Hey, it's Jerry Norton. Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.0 | We want to know how we're doing, so please leave a comment and give us a rating. |
| 0:17.4 | One of the things I love about wholesaling real estate is it's a fairly predictable business model. |
| 0:22.7 | That means if you follow a specific set of inputs or metrics, you can reasonably expect a certain output or result. |
| 0:30.6 | In this case, successful wholesale transactions. |
| 0:33.6 | In this video, I want to outline for you the exact metrics on a weekly and monthly basis that will consistently result in three wholesale deals per month. |
| 0:43.3 | Now, if the average deal size is $10,000, that would be $30,000 in gross revenue per month. |
| 0:49.3 | There are exactly five metrics that matter in a wholesale business. |
| 0:54.0 | They are one leads, two opportunities, three. There are exactly five metrics that matter in a wholesale business. |
| 0:54.3 | They are one leads, two opportunities, three appointments, four contracts, and five closings. |
| 1:03.8 | Now we refer to these five metrics as a LOAC, LOAC, and if you look at this diagram, the |
| 1:10.7 | LOAC works like a funnel. It starts at the top with |
| 1:13.8 | leads. Some of those leads turn into opportunities. Some of those opportunities become appointments, |
| 1:18.9 | which convert into signed contracts, which ultimately become successful closings. |
| 1:24.2 | In a wholesale business, we live or die by the low-AC. In fact, me the Loak in any wholesale operation and I'll tell you exactly why that business is successful or not successful. |
| 1:34.3 | The Loak gives the full picture of what's going on. |
| 1:37.3 | If the car won't start and we pop the hood, the diagnosis will be a breakdown in one or more of the five metrics in the lowak. The lowak is the |
| 1:46.8 | scorecard to the health of your wholesale business, whether you're brand new or an established |
| 1:51.2 | operation. So let's discuss each metric in the lowak and then reverse engineer what the lowak needs |
| 1:57.2 | to look like to do three deals per month. At the top of the funnel, the first L in LOAC is LEADS. |
| 2:04.0 | Now people refer to a LEED differently in the industry, so let me be clear. |
| 2:08.2 | In the LOAC, a LEED is simply a possible opportunity. |
... |
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