In the first part of our case, you met Rea L. Estate, a young wholesaler who had just discovered the chalk outline of her wholesale real estate business.
In our second part, we followed Detective Jamilock Holmes as he accompanied Rea down to her office and uncovered the clue of the ticking house contract.
We now join the best darn real estate detective as he and Rea meet with an extraordinary group…
After leaving Rea’s office, we jumped into my Mercedes convertible and drove through the night.
Our destination?
The League of Extraordinary Wholesalers.
“Back when I started in 2003,” I said, giving Rea a look. “I was a one-man business, just like you, Rea.”
“You were?” she asked.
“Yeah,” I replied. “And I was also broke. See, I hated my 9-5, but I ended up creating a job that was 24/7.
“And if I ran the numbers, I’d discover that I was making way less than minimum wage per hour. I didn’t know contracts or buyers. I was just hustling.”
Rea sighed. “I feel like I’m always spinning my wheels, trying to tread water.”
We pulled back up to the KeyGlee office, getting out, and heading to the elevator. When reached the office floor, we walked past the office doors.
“Where are we going?” asked Rea.
“You’ll get the chance to meet the League of Extraordinary Wholesalers soon enough,” I explained. “But first, we have to make sure that you’re a good fit.”
I opened the door, revealing a small, dimly lit room that held a single light bulb that swung from the ceiling.
Inside, sitting on the other side of a long table, was the best psychological profiler in the biz – my sister, Rahima.
Nodding to Rea, I said, “I’ll see you in ten minutes.” I then closed the door as I left.
“I’m going to ask you some questions before you meet with the League of Extraordinary Wholesalers,” Rahima began, gesturing for Rea to sit down in the other chair.
She nodded.
“How many hours would you say you work daily?” asked Rahima.
“Ummm,” Rea stumbled. “I don’t know. Maybe 8 to 10.”
“You don’t check your phone as soon as you wake up?”
“Well, I do,” Rea said.
“And before you go to bed?” Rahima asked.
“Yeah.”
“Do you take vacations?”
Rea laughed. How preposterous!
“I figured,” Rahima said. “How much time do you REALLY have to put into studying and learning about contracts?”
“Not enough,” Rea admitted.
“How comfortable are you with talking to sellers and buyers?”
“I’m okay,” Rea said. “But I have to make a lot of calls and I get hung up on a lot. I even got cussed out once.”
“Interesting,” Rahima replied. “How much would you say you’re paying for advertising and lead generation right now per month?”
Rea shrugged. “Maybe like $5,000,” she said.
“What about different technologies like websites, CRM software, online calendars…?”
“Maybe like $6,000 to $7,500.”
“That sounds accurate,” Rahima stated. “And how many times have you gotten a house under contract and not been able to find a buyer?”
“I don’t know,” Rea said, meekly. “Maybe 3 or 4?”
“Think harder.”
“Okay, 7,” Rea said. “I’ve lost 7 earnest money deposits.”
“So, another $7,000 lost in earnest money,” Rahima gathered. “Have you ever thought about getting a regular job?”
“I’d hate that,” Rea protested. “The thought of applying for a real job gives me the chills.”
Rahima again nodded. “Okay,” she said. “Do you have any relationships with real estate agents or investors?”
“No,” Rea sighed. “I’ve met a few of each, but they kind of disappeared when I followed up or wanted to make a deal.”
“I think I got the picture.” Rahima looked at the young wholesaler, seeing her story clear as day because her story was so familiar.
“You fit the profile of a burned out wholesaler to a T,” she continued. “You’re spending yourself into the poor house by trying to go directly to sellers.
“You’re uncomfortable talking to sellers. You don’t have relationships. You’re working from when you wake up to when you go to bed.
“But you’re not working on the right things,” Rahima said. “You don’t have trustworthy cash buyers to help you close deals, so even when you get a house under contract, you end up losing the deal.
“You’re clearly committed to this, you’re willing to put your money where your mouth is, and you want to invest into your business. But you aren’t closing enough deals. Sound about right?”
Rea nodded. “Yes,” she said. “That sounds just like me.”
“Then you’re in the right place.”
That was my cue to knock on the door and enter the room. “How’d she do?” I asked.
“She fits the profile,” Rahima said.
“I thought so.” Walking over, I looked at Rea. “I have some great news for you – you’re a perfect fit for the League and thankfully, we’ll be meeting soon.
“We’re going to teach you what to do instead of going directly to sellers and introduce you to my Astroflipping network, otherwise known as the League of Extraordinary Wholesalers.
“Better still, I’m going to teach and give you the EXACT same systems I use in my business and the processes I use to build it.”
“That sounds amazing!” Rea exclaimed.
“And that’s just the start,” I said. “We’re having what we call a Mastermind for 3 days, April 1st through the 3rd, and when you leave, not only will you be able to revive your business, but you’ll be able to keep alive for good.”
Rea was speechless. “Detective, I’ll see you again in April!”
And that’s how I solved the case of the dead wholesaler. But Rea L. Estate isn’t the only one whose wholesale business is on life support.
Will you be joining Rea this April?
If you’re ready to join the League of Extraordinary Wholesalers, then get your seat at our next Mastermind!
Not sure if you’re the right fit?
Then use our Fast Pass and find out now!
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