The Essential 4 Person Wholesaling Team

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The Essential 4 Person Wholesaling Team by Mind Map: The Essential 4 Person Wholesaling Team

1. Acquisitions Manager

1.1. Getting Contracts

1.1.1. Goes on Appointments

1.1.2. Follows up with Motivated Leads

1.1.3. Deal Evaluation

1.2. MLS Sniping

1.2.1. Networks with Realtors

1.2.2. Writes Offers on MLS Deals

1.3. Network

1.3.1. Recruits Birddogs

1.3.2. Networks at REIAs to partner with newbies

1.3.3. Finds other wholesalers who have deals and no buyers

1.3.4. Referrals

1.4. Pay

1.4.1. 15% Commission

1.4.2. 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.

2. Property Sales

2.1. Selling Deals

2.1.1. Advertises Deals

2.1.2. Negotiates Deals

2.1.3. Arranges showings and meets with buyers

2.2. Growing Buyers List

2.2.1. Cash Buyer Research

2.2.1.1. Skip Tracing Buyers

2.2.1.2. MLS Comp Research

2.2.2. Networking

2.2.3. Cash Buyer Marketing

2.2.3.1. "For Sale" bandit signs

2.2.3.2. Direct Mail

2.3. Pay

2.3.1. 10-15% Commission

3. Office Manager/Transaction Coordinator

3.1. Lead Management

3.1.1. Takes Incoming Calls

3.1.2. Manages Podio System

3.1.3. Schedules Appointments

3.1.4. Makes Written Offers

3.2. Transaction

3.2.1. Schedules Closing with Buyer and Seller

3.2.2. Manages Title Co/Additional Info Needed

3.2.3. Communicates with Aquisitions and Sales

3.3. Marketing

3.3.1. Manages Direct Mail with Vendor

3.3.2. Works with PPC/SEO manager

3.4. Bookkeeping

3.5. Keeping Acquisitions Manager on Track

3.6. Pay

3.6.1. Base stipend of $1000-2000/month to start

3.6.2. 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.

4. YOU: Owner

4.1. Sets up the system

4.2. Understands the Process

4.3. Finances Marketing and Operational Expenses

4.4. Hires the right people for the right roles

4.4.1. Hire based on personality

4.5. Motivates and Rewards Performance

4.6. Strategy

4.7. Tracks the KPIs

4.7.1. Leads Per Contract

4.7.2. Average Deal Size

4.7.3. Cost Per Lead (by campaign)

4.7.4. Average Contract to Close time (in days)

4.8. Sets the Marketing budget based on KPIs

5. Bonus: Prospecting VA

5.1. Researches Lists

5.1.1. Probates

5.1.2. Code Violations

5.1.3. Expired Listings

5.2. Skip Traces Lists

5.3. Makes Outbound Prospecting Calls

5.3.1. GoSection 8 landlords

5.3.2. Craigslist fsbos

5.3.3. Skip Trace Leads

5.4. Pay

5.4.1. $500 a month