The Essential Wholesaling Team

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The Essential Wholesaling Team by Mind Map: The Essential Wholesaling Team

1. Marketing & Acquistions Director

1.1. Main Job Description

1.1.1. Marketing Management

1.1.1.1. Property Acquisitions

1.2. Reporting

1.2.1. Weekly Inventory Reporting

1.2.2. Weekly Marketing Reporting

1.3. Marketing Implementation

1.3.1. Manages Marketing Interns

1.3.2. Executes Marketing Plan

1.4. Acquisition Lead Management

1.4.1. Controls Lead Generation

1.4.1.1. Seller Lead Generation

1.4.1.1.1. Pre-Screen Sellers

1.4.1.1.2. Prioritize Sellers

1.4.1.2. Buyer Lead Generation

1.4.1.2.1. Pre-Screen Buyers

1.4.1.2.2. Prioritize Buyers

1.5. Deal Evaluation

1.6. Contract Management

1.6.1. Secure Contracts

1.7. Acquisition Processing

1.7.1. Acquisition Processing Checklists

1.7.2. Property Due Diligence Checklist

1.7.3. Initial Attorney/Title Communication

1.7.4. Initial Seller Communication

1.7.5. Initial Buyer Communication

1.7.6. Initial Closing Preparation

1.7.7. Communication With Acquisition Manager

1.7.8. Walkthrough Checklist

1.8. Network

1.8.1. Networks at REIAs to partner with newbies

1.8.1.1. Find other wholesalers who have deals and no buyers

1.8.2. Referrals

1.9. Pay

1.9.1. 37.5 - 40% Commission

2. Split Responsibilities

2.1. Sets Up The System

2.2. Understands The Process

2.3. Finances Marketing & Operational Expenses

2.4. Hiring Process

2.4.1. Based on Personality

2.4.2. Hires The Right People For The Right Role

2.4.3. Motivates & Rewards Performance Program

2.5. Bookkeeping & Accounting

2.5.1. Billpay

2.5.1.1. Team Payment

2.5.2. Filing

2.5.3. Mail Management

2.6. Education

2.6.1. Develop Team Education Plan

2.6.2. Develop Checklists & Protocols

2.6.3. Implement & Oversee Implementation

2.7. Marketing Plan

2.7.1. Creative Development Strategies

2.7.2. Lead Generation Strategies

2.7.3. Research New Market Strategies

2.7.4. Oversee Implementation

2.8. Track KPIs

2.8.1. Transaction

2.8.1.1. Avg. Contract to Close Time (in days)

2.8.2. Marketing

2.8.2.1. Leads per Contract

2.8.2.2. Average Deal Size

2.8.2.3. Cost Per Lead (by campaign)

2.8.2.4. Sets The Marketing Budget Based on KPIs

2.8.3. Office & Employee Performance

2.9. Strategic Networking

2.10. Legal

2.11. Future Business Opportunities

2.11.1. Investigate Real Estate Market Opportunities

2.11.2. Investigate Multiple Streams of Income

3. Project Director & Sales/Leads Manager

3.1. Main Job Description

3.1.1. Wholesale Project Management

3.1.2. Property Management

3.1.3. Property Sales/ Lead Director

3.1.4. Disposition Process

3.2. Reporting

3.2.1. Weekly Sales Reporting

3.2.2. Buyers List Reporting

3.2.3. Weekly Wholesale/Project Budget

3.3. Wholesale Management

3.3.1. Property-To-Buyer Distribution

3.3.2. Walk-Through Checklist

3.3.3. Contract Signing Checklist

3.3.4. Wholesale Management Checklist

3.3.5. Post Wholesale Checklist

3.4. Transaction

3.4.1. Closing Process Checklist

3.4.2. Title Work

3.4.3. Buyer Communication

3.4.4. Seller Communication

3.4.5. Attorney/Title Company Communication

3.4.5.1. Manages Title Co/Additional Info Needed

3.4.6. Closing Preparation

3.4.7. Communication with Acquisition Manager

3.4.8. Communication with Project Manger

3.4.9. Communication With Acquisition & Sales

3.4.10. Communication with Office manager

3.4.11. Schedules Closing With Buyer & Seller

3.5. Lead Management

3.5.1. Manages Incoming Calls & Distribution

3.5.1.1. Comp Analysis

3.5.2. Schedules Appointments

3.5.3. Communication with Runner & Birddogs

3.5.4. Manages Podio System

3.6. Office Management

3.6.1. Office Inventory Reports

3.6.1.1. Supplies

3.6.1.2. Office Software/Platforms

3.6.1.3. IT Support

3.6.2. Employee Evaluation & Performance

3.7. Pay

3.7.1. 37.5 - 40% Commission

4. Prospecting Research

4.1. Researches & Creates List

4.1.1. Growing Buyer Research

4.1.1.1. LLC's

4.1.1.2. Cash Buyer Research

4.1.1.3. Skip Tracing Buyers

4.1.1.4. MLS Comp Research

4.1.2. Short Sales

4.1.3. Code Violations

4.1.4. Expired Listings

4.1.5. Foreclosures

4.1.6. Vacant Lists

4.1.7. Fixer Uppers

4.1.8. ZILLOW FSBOS

4.1.9. CRAIGSLIST FSBOs

4.1.10. Facebook Marketplace

4.1.11. Probate

4.2. Validate List Information

4.2.1. Skip Trace Validated Properties

4.3. Pay

4.3.1. $500 a month

4.3.2. 10% Commission

4.3.3. Sliding Scale: A commission of $300 per deal will be paid if 1-2 deals close that month. The commission shall increase to $500 per deal on CLOSED deals 3-6 and the commission shall increase to $800 for all deals closed after 6 deals in that month

5. Acquisitions Manager

5.1. Convert Leads To Contracts

5.1.1. Makes Outbound Prospecting Calls

5.1.1.1. Craisglists FSBO's

5.1.1.2. Facebook Marketplace

5.1.1.3. ZILLOW FSBOS

5.1.1.4. Skip Trace Leads

5.1.1.5. Property Management Companies

5.1.1.6. GoSection 8 Landlords

5.2. Getting Contracts

5.2.1. Goes on Appointments

5.2.2. Follows up with Motivated Sellers

5.2.3. Deal Evaluation

5.3. Network

5.3.1. Network at REIAs

5.3.2. Find other wholesalers who have deals and no buyers

5.4. Pay

5.4.1. 10-20% Commission

5.4.2. Sliding Scale: A commission of $300 per deal will be paid if 1-2 deals close that month. The commission shall increase to $500 per deal on CLOSED deals 3-6 and the commission shall increase to $800 for all deals closed after 6 deals in that month