90 Day Action Plan - Wholesaling Lease Options - Joe McCall



90 Day Wholesaling Lease Options Action Plan

Note: Take this document and make it your own. You don’t necessarily have to do everything on this list. But it’s a good place to start.

1. Work on Getting your Realtor's License

a. Go see . There are many sites that have on-line education courses – depending on your State.

b. Find an investor friendly broker. Ask around your local REIA. Tell people what you are doing.

c. (Note: Getting a license is not required, but is a very good idea. Remember, if you don't want to get your license, find an investor friendly Realtor at your local REIA and start partnering with them on your deals.)

2. Develop a Business Plan / Action Plan

a. Goals, marketing plan, budget, organization structure, etc

b. Doesn’t have to be complicated. You just need to write down an ACTION PLAN.

c. Keep it simple.

d. Create a Marketing Plan!

e. Market Analysis

f. Determine your schedule - the days and times you will work on your business. Set aside time every day when you will do your marketing.

g. Cash Flow / Budget

3. Create an LLC - most States have a way to create an LLC on-line.

4. Open a business checking account

5. Hire a local investor friendly attorney (or Pre-Paid Legal) to review our contracts. Where do you find an investor friendly attorney? Ask around for local successful investors / REIA in your area.

6. Create Your Marketing – (in order of importance)

a. Phone Scripts – Write up a simple phone script that fits you for when you call home owners.

b. Follow Up E-Mail / Letters – write up a template letter or email to follow up from phone calls

c. Initial E-Mails to Sellers – Write up several different email scripts to send to Sellers on Craigslist. (Note: don’t copy mine!)

d. On-Line Ads – place Buyer and Seller ads on Craigslist, Backpage, Kijiji, etc, to attract motivated sellers and build a tenant buyers database

e. Flyers – place them everywhere you can

f. Brochures – for Sellers, Mortgage Brokers, Attorney's, etc, to hand out to people explaining your program and how you can help

g. Signs – Order some signs for selling houses – yard signs & bandit signs – keep it simple.

7. Start calling For Rent and FSBO ads for possible Lease Options. Probably the most important step!!!!

8. Create a Website. Find someone on to build you a website. Keep it simple. Build one website for buyers and sellers. Copy mine if you want ().

9. Start developing your team:

a. Real Estate Broker – one that is an investor or works with investors. Check our your local REIA and ask around for investor friendly brokers.

b. Mortgage Broker – one that is or deals with investors and is sub-prime lender

c. Credit Repair Specialist – ask your mortgage broker who they recommend

d. Sign up for Pre-Paid Legal

e. Title Company/Closing Agent – find one that does double/simultaneous closings. Ask around your local REIA who other investors use.

f. CPA / Bookkeeper – one that understands real estate

g. Property Management Company – great resources for tired landlords, and maybe you can use them for your own properties

h. Property Inspectors & Handymen. Note: you just need these guys to recommend to people.

i. Notary (check your local bank)

j. Coach / Mentor – if you don’t have one, get one!

10. Join a Real Estate Investors Group – within the next 30 days!

11. Network with at least 3 other full-time wholesalers in your area in your first 30 days. Ask them what they do with all the leads they get that have no equity or won’t drop their price as low as they need to buy it. Tell them you will gladly take those leads and pay them $500 - $1,000 for them.

12. Network with at least 3 mortgage brokers in the first 30 days. Ask them what they do with the rejected applications for mortgage. Ask them if you can work some kind of deal where you will pay the Mortgage Broker some referral fee (if they will allow it), or require the tenant-buyer to go through their credit repair company (if they have one).

Miscellaneous Action Items

1. Start farming your areas. Learn your market. Where do people want to live? Where are the rental neighborhoods? Where are most of the first time home buyers buying homes?

2. Become familiar with the MLS.

3. Practice!

a. Practice role playing using your scripts for Tenant-Buyers and Sellers.

b. Practice writing contracts

4. Review Wholesaling Lease Options course and join in on conference calls.

5. To really fire up your marketing, start creating a postcard & yellow letter campaign

a. Get expired & vacant MSL listings from your Realtor/Broker

b. Get properties with Absentee Owners

6. After you have done some marketing on your own and you know what works best for you, hire a Virtual Assistant to start doing your marketing for you.

a.

b.

c.

7. Send Joe McCall a copy of your first check to joe@

8. Review all these steps again

Do you have a coach yet?! Do you still need help?! Call me @ 314-266-1221

(Can you think of anything else that I should add to this sheet? Let me know! Thanks.)

Joe McCall



(314) 266-1221

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download