Essential 4 Wholesaling Elite Team

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Essential 4 Wholesaling Elite Team by Mind Map: Essential 4 Wholesaling Elite Team

1. Split Responsibilities

1.1. Sets Up The System

1.2. Finances Marketing & Operational Expenses

1.3. Manage Podio System

1.4. Hiring Process

1.4.1. Based on Personality

1.4.2. Motivates & Rewards Performance Program

1.5. Bookkeeping & Accounting

1.5.1. Billpay & Team Payment

1.5.2. Filing

1.6. Education

1.6.1. Develop Team Education Plan

1.6.2. Develop Checklists & Protocols

1.7. Marketing Plan

1.7.1. Creative Development Strategies

1.7.2. Lead Generation Strategies

1.7.3. Research New Market Strategies

1.8. Track KPIs

1.8.1. Leads per Contract

1.8.2. Average Deal Size

1.8.3. Cost Per Lead (by campaign)

1.8.4. Sets The Marketing Budget Based on KPIs

1.8.5. Avg. Contract To Close Time ( in days)

1.8.6. Office & Employee Performance

1.9. Strategic Networking

1.10. Legal

1.11. Future Business Opportunities

2. Acquisitions Manager

2.1. Convert Leads To Contracts

2.1.1. Makes Outbound Prospecting Calls

2.1.1.1. Craisglists FSBO's

2.1.1.2. Facebook Marketplace

2.1.1.3. ZILLOW FSBOS

2.1.1.4. Skip Trace Leads

2.1.1.5. Property Management Companies

2.1.1.6. GoSection 8 Landlords

2.2. Getting Contracts

2.2.1. Goes on Appointments

2.2.2. Follows up with Motivated Sellers

2.2.3. Deal Evaluation

2.3. Network

2.3.1. Network at REIAs

2.3.2. Find other wholesalers who have deals and no buyers

2.4. Pay

2.4.1. 10-20% Commission

2.4.2. 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

3. Marketing & Acquistions Director

3.1. Main Job Description

3.1.1. Marketing Management

3.1.1.1. Property Acquisitions

3.2. Reporting

3.2.1. Weekly Inventory & Marketing Reporting

3.3. Marketing Implementation

3.3.1. Manages Marketing Interns & Execute Marketing Plan

3.4. Acquisition Lead Management

3.4.1. Controls Lead Generation

3.4.1.1. Seller Lead Generation

3.4.1.2. Buyer Lead Generation

3.5. Deal Evaluation

3.6. Contract Management

3.6.1. Secure Contracts

3.7. Acquisition Processing

3.7.1. Acquisition Processing Checklists

3.7.2. Property Due Diligence Checklist

3.7.3. Initial Attorney/Title Communication

3.7.4. Initial Seller & Seller Communication

3.7.5. Initial Closing Preparation

3.8. Network

3.8.1. Networks at REIAs

3.8.1.1. Find other wholesalers who have deals and no buyers

3.9. Pay

3.9.1. 37.5 - 40% Commission

3.9.1.1. 5-10% invest back into business

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. Probates

4.1.3. Short Sales

4.1.4. Code Violations

4.1.5. Expired Listings

4.1.6. Foreclosures

4.1.7. Vacant Lists

4.1.8. Fixer Uppers

4.1.9. Driving For Dollars

4.1.10. ZILLOW FSBOS

4.1.11. CRAIGSLIST FSBOs

4.1.12. Facebook Marketplace

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. Project Director & Sales/Leads Manager

5.1. Main Job Description

5.1.1. Property Management

5.1.2. Property Sales/Lead Director

5.1.3. Disposition Process

5.2. Reporting

5.2.1. Weekly Sales & Buyers List Reporting

5.3. Wholesale Management

5.3.1. Property-to-Buyer Distribution

5.3.2. Walk-Through Checklist

5.3.3. Buyer Contract Signing Checklist

5.3.4. Wholesale Management Checklist

5.3.5. Post Wholesale Checklist

5.4. Transaction

5.4.1. Closing & Title Work Process Checklist

5.4.2. Buyer & Seller Communication

5.4.3. Attorney/Title Company Communication

5.4.4. Communication with Acquisition & Sales

5.4.5. Communication with Project Manager

5.5. Lead Management

5.5.1. Manages Incoming Calls & Distribution

5.5.2. Comp Analysis

5.5.3. Schedules Appointments

5.5.4. Communication with Runner & Birddogs

5.6. Office Management

5.7. Pay

5.7.1. 37.5-40% commission

5.7.2. 5-10% invest back into business