4 Secrets to Optimize Your Wholesale Real Estate Workflow
Updated: Oct 27, 2022
One of the most common questions I get asked in AstroFlipping is how members can better optimize their workflow more effectively and more efficiently.
Some people think it’s all or only about having the best programs or tools or resources and yes, those are absolutely a big part of that. The more ways you can use to find deals, leads, buyers, etc., the better you’re set up for success.
But tools and apps are just a part of having a good workflow, especially in this business.
One of the reasons I put on my secret challenge events is to get to the heart of what and why you aren’t having success, what’s working or what’s not working for you, other student members, what’s happening in the landscape…
If you missed my Secret Weapon Challenge last month, you missed four days of the best advice coming from some of the rock stars working the market.
Day three was especially great because two of the hottest Astro members, Paul Nelson and Michelle Garabito, were in the house to talk about how they grew their business into the stratosphere.
Check out the video here:
And while the video itself is chalked full of great advice, here are the four secrets you should take from it.
4 Secrets to Wholesale Real Estate Optimization
Alright, Jamil, what are these big secrets?
Well, they probably aren’t what you would expect, but they are definitely things people will often overlook or not even consider something that is a factor in growing their business.
Facing & Triumphing Over Adversity
I started this particular day with a story from my own life.
If you don’t know, I’ve been doing real estate investing since 2002, and I was extremely well and making a lot of money.
I went from simple wholesaling before going into multifamily properties and I was still doing pretty good.
And then 2008 happened.
Not only did I lose like $12 million dollars, but I lost my house and I lost my parents’ house, leading to my entire family – my parents, my sister and her family, and our dog – to live in a one-bedroom apartment.
If you lived through the housing crash at that time, you remember how chaotic and in a lot of cases, how devastating it was to a lot of people.
And horrible as that was, I believe that it taught me a lot of life, things, having my family together, maybe not being so generous with money.
When we face adversity, we try to hide from it, we try to ignore it, escape it and when we do that, we lose the ability to fight that fear.
And yes, there are some very painful experiences in life, but being able to face them and come out on the other side and say, “I survived and I’m better for it” can be extremely gratifying.
Having a Good Mindset
The first week of my AstroFlipping course is centered around finding and having a good mindset, but I think Michelle has the best explanation of how her mindset went as she grew her business.
Michelle talks about two different types of people – one being those that proclaim “woe is me!” These are the people that will be envious of others’ successes, who will look at their wholesaling business and believe they just suck at investing.
Then there are the people that Michelle put herself into – those that use their frustration as motivation.
Michelle looked at others creating success and was determined that she could not only do that, but she could do it better and she was worthy of having that success herself.
She talks about a period when her business wasn’t doing that well, where her partner Paul had to cover bills for a month while she tried to figure out what her next move would be.
We’ve all been where Michelle has, where we aren’t sure how bills will get paid for the month, but what she did was use that frustration to motivate her to do more.
Revamping Your Company with Secret Weapons
When talking about our Secret Weapon Challenge, I’m sure many people were thinking of some special tool, special program, and yes, we talked about those, but one of the biggest secret weapons in our business is connections.
Michelle and Paul not only talked about their secret weapons, but brought them on the livestream. As Michelle says, the solution is who you have that will help you scale your business, not necessarily the how.
Through her wholesaler outreach, she was able to build a relationship with her current COO, Tre. Paul was able to find his manager because he was sharing stories of his success.
Our business is all about connections and the relationships that came from those relationships.
During the livestream, Michelle and Paul brought on some of their top team members, one of them being Michelle’s current COO, Tre.
Tre spoke about comping properties and one great gold nugget he made was mentioning how often we as people tend to overanalyze.
This was primarily focused on comping and trying to get the perfect comp for a property, but be honest – we tend to do this outside of real estate investing.
You are your own crutch!
Sometimes we get in our own way, which then helps to distract us from what is really in front of us and what steps we actually need to do and accomplish.
And that’s it, guys!
Again, these 4 secrets are the simplest, but also the trickiest when optimizing workflow, whether in our business or personal lives.
But once you’ve checked these off, the rest is – as they say – easy as pie! Guys, if you want even more knowledge, then come and join Michelle, Paul, and myself over in Astro!