EP. 35 // How to Flip Contracts in Virtual Markets through WholeScaling w/ Brendan Berry
On today’s episode we have the owner and founder of Rapid Home Offers, Real Estate Investor Brendan Berry, out of Detroit, Michigan. Brendan is a well rounded real estate professional, wholesaling, flipping, and handling large commercial development; but above all else, he considers himself a salesman and finds his success from being able to handle sales calls in a way few acquisition managers can. On today’s episode, David and Brendan talk about how wholesaling is the best entrypoint for people who master deal sourcing, the ins and outs of how Brendan runs a highly converting online ad campaign for finding leads, and the pair talk about the system a good salesman can use to find someone to take calls on their behalf.
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Key Points from This Episode:
Brendan got started by going in on his first flip. He enjoyed the overall process but felt he wasn’t ready to handle construction on his own. He focused on his strength: sourcing deals. He decided to focus on one business, one skillset, and that was ultimately finding his strong suit.
Over time, as wholesaling became more famous on the internet due to influencers such as King Khang, Brendan’s friends started reaching out to learn about what wholesaling is all about.
David talks about how focus is the difference between success and failure. Focusing on your strength, like deal flow, and putting all of your effort into wholesaling, you’ll then have the funds to reinvest into your business.
Wholesaling is a great entry point in Real Estate because there’s no barrier to entry. But at the same time, without the barrier to entry anyone can get in! So there are certainly hurdles to be overcome.
Brendan does very little advertising in Michigan. Most of his ad spend for wholesaling is in Texas, New Jersey, Arizona etc. They do 100% PPC on Google and get about 10 leads a week. Out of those 40 weeks a month they only choose the grand slam deals and sign 5 a month.
His first month wholesaling he made $60,000 in fees. He learned how to properly streamline his process on his own. $140,000 in his first three months wholesaling.
Brendan sends out offers on 25% of calls he makes with motivated sellers. He says that your sale skills are more important than anything else in business: infinite marketing money can’t make up for knowing how to find value in properties and having good sales skill.
David says that nobody is going to be 100% as good as you if you’re a sales driven guy who is trying to hire out. So you need to get 3 people who are at 60%: that’s 180% of your output. David’s best salesman tagged along to every appointment for 6 months. It was David’s first hire and it was a very lucky break! Retention rate on acquisition managers is at about a 30% success rate.
David swears by the Personality Index profiling for future hires.
David and Brendan talk about the importance of not being a robot on sales calls: be friendly, be approachable, and disarm sellers with friendship!
The best advice Brendan has is to be selective and invest in a mentor or a program. That would have saved him 3 years and fast tracked him to much greater success. Invest in education. Masterminds are there for information and networking; being around high networth individuals is the key to success.
Relevant Links from Today’s Episode:
ABOUT BRENDAN BERRY
Brendan Berry is a 29 year old Real Estate Investor out of Detroit, Michigan with over 6 years of experience in Real Estate. As the Founder and Owner of Rapid Home Offers, he specializes in wholesaling in virtual markets.
