Author: Raj Raj

Categories
Shortterm Rentals

Best Practices to Optimize Your Airbnb Listing

Wondering why your short-term rental on Airbnb isn’t performing as well as you hoped? 

You might think real estate knowledge is all you need to run a successful Airbnb, but there’s a lot more to it than that. The secret to having a highly-ranked listing and generating traffic on Airbnb is to use marketing skills, rather than real estate know-how.

But it’s not just about creating impressive listings with all the best features and amenities—you need to know how to rank well in search results. By doing so, more potential guests see your listing, and it’ll land you more bookings. And we all know more bookings mean higher profits.

So, to help you in this daunting task, we’ve listed the top ways to optimize your vacation rentals on Airbnb below. Use these ranking optimization techniques to get more people to choose your short-term rental units and see real results.

Tips for Higher Airbnb Ranking

In general, Airbnb recognizes good listings and rewards them with a higher search ranking. Airbnb does this because it wants the users (i.e. your guests) to have the best customer experience on their platform. After all, if they saw a dark basement suite with 2 stars review first, it wouldn’t reflect well on their own brand image.

As a host, your goal is to check off as much of these things as possible to have Airbnb rank your listing higher:

  • Ask for Positive Reviews: According to Airbnb host Nick Child’s data experiment, the average Guest Satisfaction score that shows up on the first page of search is a whopping 83.7%. This means that the more positive reviews you get, the more visible your rental will be.

So, provide your guests with the best experience and encourage them to leave a review after their stay. You want to have as many 5-star ratings as possible to appear on top.

  • Use Instant Book: Instant Book is a feature Airbnb has been pushing to make booking faster and easier for guests. More importantly, Airbnb confirmed that Instant Book is part of their search algorithm, and 50% of its bookings are via this channel.

Additionally, the Instant Book filter might be turned on by default for most guests. With the filter activated, guests will only see the listings that have Instant Book turned on. In other words, your rental might not show up if guests don’t turn off their Instant Book filter.

  • Respond Quickly: You’ll need to have a 90% or higher response rate to use Instant Book. This means that responding within 24 hours or less will boost your search ranking on the platform.
  • Hasten the Booking Process: Since Airbnb prioritizes ease and speed of booking, you should also gain their favor. The faster it is for a guest to finalize a booking with you, the more priority you’ll get on Airbnb’s search algorithm.

If you’re not sure how efficient your process is, evaluate how long it takes for you to finalize booking with a prospect. If they ask a lot of questions and can’t complete the booking within 24 hours, you need to improve your listing and hasten the process.

Improving your listing by adding all features and amenities offered (e.g., wifi, Netflix, cable, water heaters, etc.). That way you’ll reduce the time spent answering potential client clarifications.

  • Keep Booking Commitments: Because Airbnb prioritizes reliable hosts, you should only accept bookings you can commit to.b Every time you cancel or reject guests, Airbnb will see you as an unreliable host, decreasing your visibility on search pages.

One important thing is to ensure that your listing has all the details and considerations listed. That way, the only guests who’ll book with you are the one who agrees to your terms. It’ll be easier for you to accept them since expectations are all met.

  • Update Your Calendar Regularly: Airbnb checks if you’re updating your calendar regularly because they want guests to have an easy time booking a place. Don’t miss bookings when your unit is available, and remember to update it right away when a booking is confirmed.
  • Post Shareable Photos: We all know that good photos attract guests, but what you might not know is how important shareable images are—the types that guests can send to their friends before booking. The more they share your photos, the higher traffic you’ll get, which results in Airbnb prioritizing your listing on search.

Post photos that highlight the features of your listing, photos that aptly describe the place, and ultimately, have the highest chance of being added to the Wishlist feature or shared on social media.

Issues that Lower Your Airbnb Ranking

In contrast, Airbnb also sees “bad listings” and tries their best not to show these to their audience. Moreover, Airbnb also has some features that, when ignored, will lower your search visibility.

Make sure that you don’t do these things, or else you’re jeopardizing your ranking and preventing yourself from attracting guests:

  • Booking Cancellations & Rejections: As we said already, Airbnb wants to prioritize reliable hosts. This is the reason why they’re constantly pushing hosts to achieve the Superhost designation, and will deprioritize any hosts who have a high cancellation rate.

It’s difficult to stop guests from canceling. However, by updating your calendar and including all important details in your listing upfront, you can significantly reduce the chances of guests canceling a booking due to a myriad of reasons.

You also need to make sure you’re not rejecting guests because it will also make your rank go down. Every action you take on Airbnb factors is tracked and being factored into your performance.

  • Extra Charges: Extra service fees and additional security deposits will affect the amount of traffic your listing receives—especially if you’re charging more than other hosts. Once your booking rates drop, your search ranking will fall with it.
  • Too Strict: Flexibility is another factor to consider. While you might want to limit a guest’s stay to just a few days, like the weekend or weekdays, that excludes a lot of people. If you’re more flexible, you’ll appear in more searches. 

Summary

Use all our tips and tricks to optimize your short-term rental listing on Airbnb and help you generate more profits. When you’re a stellar host, your guests will thank you and appreciate it. While some see Airbnb as a means to make money, it’s also a way to provide others a lovely place to stay and create lasting memories when they visit.

Remember that it all boils down to providing a great experience for your guests. Impress them, and you’ll have plenty of people hoping to stay with you. 

Any other tips we’ve missed? Drop us a comment below on what’s worked for you with your Airbnb listing! 

Image courtesy of Andrea Davis

Categories
Flipping

Top 5 Mistakes Novice Flippers Overlook (And How to Overcome Them!)

Reality TV shows may paint a picture of how easy it is to flip a property, but the actual reality is much more complicated than that. Unfortunately, beginner real estate investors often jump into the business without knowing anything about real estate and how it works!

In a nutshell, house flipping is buying a distressed property that you repair and sell for a profit. It’s one of the best ways to earn money from real estate, whether you do it full-time or only as a side hustle. In fact, flippers can make up to $25,000 profit on a typical house in the City of Detroit (provided, of course, that you follow the right advice). 

But like any business, house flipping takes knowledge, planning, and hard work to be successful. Without the proper guidance, you’ll only lose your hard-earned cash. 

So, here are five common mistakes that novices overlook and how you can avoid them altogether.

#1 No Market Knowledge

There’s more to house flipping than what you may know. One of the biggest mistakes new flippers make is buying a property that falls within their budget but is unfortunately located in an undesirable market. As a result, they end up stuck with a home they don’t need, with all their savings tied to an undesirable property.

Solution: Work with an experienced, local real estate agent who knows the real estate market well and can show you the ropes. Experienced agents will know things such as current market prices, what buyers are looking for, and the latest trends in the neighborhood. Then, continue learning by talking to other investors and following real estate investment blogs (like this one!).

#2 Investing Too Much Time and Money

The whole point of house flipping is to earn a good return on investment. But that is impossible if you spend too much money upfront. Moreover, time is also of great essence in the flipping business. On average, it shouldn’t take you longer than 1-2 months to sell it. The longer a property stays on the market, the more you have to pay taxes and maintenance. This increases your capital expenditure and squashes your potential flipping profit.

Solution: Follow the industry’s 70% Rule, which says you should only pay a maximum of 70% property value minus the repairs. This rule is significant for new investors who don’t have extra money to cover a project that goes sour.

For example, let’s say the property value is $200,000 after $10,000 of repairs. In this situation, you should spend no more than $133,000 to purchase the home ($200,000 – $10,000 x .70 = $133,000). If you spend too much money, you won’t be able to sell it for a significant profit.

On top of this, ensure that you work with a professional contractor before you purchase the property. They can inspect the home for you and provide an accurate repair cost for your budget.

#3 Overestimating Your Skill and Knowledge

Are you tempted to save money and repair the distressed property yourself? Keep in mind that so many things can go wrong if you don’t have the necessary knowledge and experience. It only takes one bad swing of the hammer to do irreversible damages to the home!

Solution: Start slow and look for homes that require minimal repairs (remember the 70% rule). You can gradually take up more complicated projects as you increase your knowledge and experience. Alternatively, work with a licensed contractor to flip the home for you so you won’t have to update the wiring and plumbing on a 60-year-old house.

#4 Miscalculating Cost of Repair

This is the most common mistake! 

One thing that most of the flipping & improvement shows get right is the “unexpected repair”. The demo crew opens a wall that exposes dry rot, termites, a major plumbing issue, etc. 

Miscalculating the cost of repairs can make your expected profits disappear. 

Solution: Look for projects that don’t require much work and talk to a trusted contractor to help you bring the home up to suitable standards. Also, build in 10-20% Cost Overrun in your repair budget. Don’t go overboard!

#5 Overvaluing the House

Finally, one of the classic rookie mistakes is estimating your sales price at the highest price possible. While this does happen, and it’s great when it does, you’re better off being a bit more conservative on your estimated sales price. 

Solution: Consult your real estate agent to land on a realistic price based on market analysis and careful consideration of the competition.  

Conclusion 

Home flipping is still a lucrative gig, provided that you are willing to invest the time and effort. While the concept is as simple as selling for a profit as fast as you can, there are so many pitfalls that can derail your efforts and put you in a financially difficult spot. 

Instead, learn from the mistakes of others! Avoid the top five mistakes novice flippers make to become successful flippers without burning cash.

Need more help in flipping houses? Feel free to get in touch. I’m more than willing to help you in your journey to become a successful house flipper.

Image courtesy of Sebastian Herrmann

Categories
Wholesaling

How to Dominate Wholesaling Houses in Your Area

Wholesaling
How to dominate wholesaling in your area

While you might be tempted to cover areas beyond your local real estate scene, it’s possible that you’re already sitting on a wholesaling goldmine—and you just didn’t know it!

Here are the signs of a market that’s ripe for a booming wholesaling business:

  • Overwhelming amount of cash purchases
  • Abnormally fast sales
  • Houses getting multiple offers
  • Escalation clauses (to avoid getting outbid)

If your local area has all these factors, you’re in a great place to become a wholesaler.

Read along to find out the two-prong strategy that will help you dominate your local real estate market and build a successful wholesaling empire—right where you live.

Search-Optimize Your Wholesaling Business

Aside from doing offline marketing, there is also a world of possibilities online. Not only are geographic boundaries removed, but the internet also enables you to effectively target and reach your audiences with SEO (search engine optimization) tools.

Check out these online marketing platforms for real estate wholesaling:

  • Wholesaling websites
  • MLS (Multiple Listing Service)
  • Online forums and auctions sites

All of these efforts hinge on the fact that we do practically everything online nowadays. Your customers are more likely than ever to search online for new properties.

Your goal is to be visible and easily accessible via an online search. This is where keyword research comes in. By knowing what keywords to target, you can also maximize your reach on search engines, gain valuable traffic, and generate qualified leads.

Do a simple test to see how your business currently ranks in search engines:

  1. Search “real estate wholesaler [location]” on Google.
  2. Look at the top results.

Does your name or business appear? Where do you rank versus your competitors? Who shows up before you do?

Well, you need to beat them.

Optimize your searchability by choosing keywords that your buyers will search for, then incorporate them in your blog posts, listings, and website.

Here are some keywords you can consider:

  • local real estate wholesalers
  • house wholesalers near me
  • local cash buyers in [area]
  • local house sellers in [city]

For in-depth SEO strategies and more information on how keywords work, you should also check out Reibar’s article on keywords that real estate investors should be targeting.

To boost your online presence further, you can also pay to get increased visibility in highly competitive markets. Paid advertising involves platforms such as Google AdWords and Facebook Ads.

Network to Outshine Your Competitors

Given the wholesaling potential of your area, you might be competing with a lot of other investors. It’s definitely not bad for business, but marketing will be a challenge.

In our article on the best places to find wholesaling deals[1] , we mentioned a couple of offline marketing methods such as:

  • Driving for Dollars
  • Bandit signs
  • Direct mail campaigns
  • Networking
  • Newspapers

All of these methods are effective in finding wholesaling deals, but networking is the most important strategy when trying to dominate a market.

The good thing is that all competitive areas have an REIA or two in the community – Metro Detroit definitely does.

REIAs are a great place to start making your presence known—the goal is to establish your wholesaling business to outshine other wholesalers and be the go-to property supplier for the local area. REIAs give you access to a whole group of people for:

  • Building an active cash buyers list
  • Developing strong and reliable connections
  • Boasting your overflowing housing inventory

You can also team up with Bird Dogs or acquisitions managers who are interested in the local market. The more properties they bring you, the more inventory you have to sell to cash buyers.

Conclusion

The key to dominating your local wholesaling market is good marketing—both on-ground and online. By networking closely with the community and optimizing your online presence, you’ll set yourself up for long-term success wholesaling in any competitive space. Ultimately, you want to establish yourself as an expert—and building your credibility with a great online presence and consistent quality service is how you do this.

To succeed even in these uncertain times, go through our wholesaling trends and insights that have surfaced during the pandemic. Get a good grasp of the present and future of wholesaling real estate to dominate the business in your local area—and beyond.

Need help in beating your local competition? Get in touch with us! Our team is more than willing to help.

Image courtesy of Andrea Piacquadio

Categories
Landlords

Top 11 Amenities Renters Can’t Resist

Everyone hates going to the laundromat. Lugging a bag of dirty clothes to a laundromat even only 10 minutes away is the kind of hassle people want to avoid. And once you have the luxury of in-unit laundry, it’s hard to go back. 

When you’re trying to make a rental unit more appealing to potential tenants, you need to keep in mind what they’re looking for. For some tenants—it’s in-unit laundry. 

Every renter has a specific thing they want in a home, whether it’s granite countertops or hardwood floors. Whatever it is, highly-requested amenities are often deal-breakers. And these days, search filters on websites are getting increasingly specific.

When tenants search on popular real estate websites like Apartments.com, Zumper, RentCafe, or PadMapper, they have plenty of filters to choose from. As a landlord, you need to know exactly what makes your rental irresistible to potential renters. 

Writing an excellent listing and taking high-quality photos can help, sure, but the key to securing long-term tenants is by giving them a place with something no others have. They may even stretch their budget if it means they get to have the rental of their dreams.

So, without further ado, let’s dive into the top amenities renters just can’t resist.

11 Amenities and Features Renters are Searching For

These eleven items come from my experience running a property management company as well as data from industry-standard websites: Zumper and Apartments.com. In other words, you can be confident that these are the kind of features you want to use to attract interested renters.

  1. Air Conditioning: Heat and air conditioning come at the top of the list according to Statista. The law doesn’t require cooling systems, but many tenants want it. Not surprising given that a large part of the US gets hit with sweltering temperatures throughout the summer. After all, nobody wants to be stuck lying awake at night with loud fans blasting beside them.
  2. Central Heating System: On the flip side, many different regions of our country also deal with the coldest of winters. While all states require heating systems, they don’t require central heating—which is what most renters prefer, according to Zumper.
  3. Plenty of Parking Spaces: Another one of the most searched items is parking. Renters want to have a parking space reserved for them and others when they invite over company. Assigned parking is especially popular in urban areas where space is limited, and covered parking is sought-after in places that get rain or snow all year.
  4. Flexible Pet Policies: If there’s one thing we all have in common, it’s that we love our pets. Most of us have one, too, as a survey showed that 96% of Americans had pets before, and 72% of renters still have pets! If you’re not allowing pets into your rental, it may be time to reconsider.
  5. Dishwasher: As they say, the kitchen is the heart of every home. So what do renters look for in a rental? A dishwasher. It’s even the 5th most popular amenity according to the same 2021 survey from Statista. Even Zumper reports “dishwasher” is one of their top 10 most-searched terms.

By buying a mid-range dishwasher for even $500 to $1000, you can up the monthly rent by $50 or even $100 per month and make it back shortly—especially since a good dishwasher should last about 10 years. If your unit is on the smaller side, there are still options like countertop dishwashers that can attract tenants too. 

  1. Outdoor Spaces: Something that was a “nice-to-have” before is now a “must-have” after the pandemic. Zumper saw the search for “outdoor space” catapult by +143% after COVID-19 meant many of us were trapped indoors. Terms like “roof deck” and “balcony” also increased as people realized the importance of having accessible fresh air and open spaces.
  2. In-Unit Laundry Equipment: While others may argue that doing laundry is relaxing, Zumper data indicates that most renters want to turn an afternoon in the laundromat into a press-and-wait task at home. 

Having an in-unit washer and dryer in your unit makes their inevitable chores more convenient. It can even allow you to charge $100 more on rent! Especially when considering they cost anywhere from $300-$2,000 each, it’s logical that the rent will go up to cover the cost.

  1. Hardwood Floors: Nobody wants a carpet that reeks of pets or spilled liquids. They’re a pain to clean, and expensive when they need to be replaced. Instead, renters want beautiful hardwood floors that look better, last longer, and are easier to maintain than shag or wool.

Of course, if you’re going to splurge on flooring, you need to be sure you’re renting to tenants that will take care of it. Otherwise, you risk an even more expensive renovation. For C and D rental properties, this might not be the best choice.

  1. Furnished Homes: People hop from one city to another way more than before, which translates to a higher demand for furnished rentals. Not only is lugging furniture a hassle, but moving can cost up to $2,300—more than two month’s rent in the City of Detroit. 

If you do decide to go the furnished route, be sure to get it insured in case anything goes wrong. It also opens up the opportunity to charge far more if you accept short term renters, but it will still boost the price for long term rentals too. 

  1. Granite Countertops: While this is not a necessity, it’s a luxury that many enjoy. An updated kitchen is especially attractive to younger renters, since 76% of Millenials say that they enjoy cooking. Boosting the value and the appearance of the kitchen will help you stand out in a competitive rental market.
  2. Modern Appliances: If the toaster is old and broken or the microwave is stained or smells, it’s probably time to upgrade. Small changes like this can be a great way to subtly impress a potential tenant and help them justify their monthly payments. 

Of course, sometimes things can go missing or be taken, so this will depend on the type of property and type of tenant. If you’re renting out a high-end apartment to working professionals, then it makes sense. But, if you’re renting a basement suite to university students, then you could skip this.

Conclusion

These eleven amenities mean you have plenty of ways to entice prospects into renting your property—and maybe even increase your profits.

Keep these home features in mind when you’re upgrading the rental, revamping advertising materials, or expanding your portfolio to include more properties. They’ll give you a far more competitive edge in the market and attract serious renters looking for a perfect match.

Any other highly-requested amenities we’ve missed? Comment them below!

Image courtesy of Patrick Perkins

Categories
Wholesaling

Which Type of Real Estate is Best?

The answer is, you can wholesale anything that has buyers!

That’s what makes things tricky.

There is a multitude of real estate property types you can potentially wholesale. But which one should you focus on? Which are more suited for the wholesaling technique?

Consider that the ultimate goal in a real estate wholesaling business is to generate profit by locating distressed properties that are owned by motivated sellers, putting their houses under contract, then assigning the contracts to buyers who want them. You don’t renovate or take ownership of the property. Instead, you find good deals, estimate repair costs and ARV, and collect a wholesaler fee when buyers sign purchase contracts.

Two crucial things here: the potential profit you can make from the properties, and the speed it takes to match them with buyers. The whole process should take only 30-45 days because the faster you close deals, the more successful you’ll be.

But which type of real estate should you focus on?

Single-Family Houses

SFHs are plentiful in all states. A quick search of US housing statistics shows that 60.3% of housing structures in the country are SFHs (1-unit, detached). This makes them familiar to most, including wholesalers, and the obvious preference of most buyers.

You can find plenty of distressed SFHs under market value. In places like the City of Detroit, which was hit hard by the housing crisis and has lots of blighted areas, foreclosure-related sales are common.

Here, you can scoop up distressed SFHs with minimal capital, but do people want to buy them? Especially in blighted neighborhoods? It’s all about location, location, location, so no matter how good some deals are, they’re probably not suited to wholesaling. You want to find sweet spot houses that are both affordable and marketable. Cheap, tear-down houses in undesirable neighborhoods are not marketable.

With single-family homes, you can typically seal 5-10 deals per month, each of them giving you $5,000-$10,000 in profit. This makes them the bread and butter of the wholesaling business. They’re easy to find and easy to earn from.

Mobile Homes

While mobile homes aren’t the most popular, there are wholesalers who swear by them.

Mobile homes are the third most popular (7.6%) housing structure in the US. Most of them are in the southern states: Florida, Texas, North Carolina, Georgia, South Carolina, and Alabama.

There will always be a market for a cost-efficient living, so it is possible to find buyers for mobile home wholesale contracts. You’ll experience less competition, a stable demand, and get your name is known in the market fast (the community of mobile homeowners is often close-knit).

In terms of margins, mobile homes are low. You’ll earn around $500-$2,000 as an assignment fee for most deals you find. (Though it’s not unheard of to make $30,000 in high-demand areas, those come rarely!) In general, it’s going to take at least 6 mobile home deals to equate to 1 SFH deal.

In terms of volume, there are fewer mobile homes than SFHs across the country, too. So it depends on how much leg work you’re prepared to do, and which properties are in higher demand in your area/the people on your buyers’ list.

Apartment Buildings (and Multi-family Homes)

Most beginners are intimidated by wholesaling multifamily properties, due to their size and difference in buyer criteria (versus the usual SFHs). Instead of basing the value on ARV, apartment buildings and MFHs depend on the net operating income (NOI) or cash flow that it will produce.

Apartment buildings range in units sizes from studio to 4-bedroom, and in building sizes from a few floors to dozens of stories. In general, they are most in-demand in metropolitan areas. Because of this, apartments are not as preferred in smaller towns as in big cities. Keep this in mind, as apartments that attract fewer tenants will have a smaller buyer base, taking more time and marketing costs to seal deals.

Larger properties and buildings also take a lot of time to analyze. You will spend more time on these deals than you will with smaller properties. This means you’ll have lower volumes, so will need to make more profit from a smaller number of deals, most likely.

Nevertheless, MFHs are still in demand today, due to how much income they can provide on a monthly basis. There is also ease of managing them and higher ROI per unit compared to SFHs.

Wholesaling one building can bring in five to seven figures per deal, making the higher time investment on your part potentially worthwhile. Higher prices, bigger profits! Just make sure you’re prepared to put in the legwork and find the right location to wholesale apartment buildings or MFHs.

Commercial Properties

Wholesaling commercial real estate includes office buildings, retail malls, warehouses, or buildings with mixed usage. You’ll be sealing deals with investors who are looking to make money from overhauling and repositioning the building to attract businesses or tenants, focusing on NOI instead of ARV (just like with MFHs).

The pros of wholesaling commercial properties are bigger profit margins, less competition, and easier financing.

Their values are usually in the millions of dollars, therefore, the assignment fee you’ll make will also be high. Most real estate agents are also more comfortable with residential properties, so there isn’t much competition in the field, allowing you to negotiate with investors.

The range you can earn from commercial properties is wide (a small office will vary greatly from a retail mall). But with the right connections and buyer’s criteria, most of them are also easily sourced. In fact, some have experienced a larger pool of distressed commercial properties out there than residential ones (if you count construction REO properties).

Vacant Land and Lots

Empty lands can be wholesaled, too. Parking lots, infill lots, demolished buildings, acreage, and lots that are great for building new structures are fairly easy to wholesale. Given their variety, buyers for land wholesale deals will also come in all shapes and sizes.

If there is a market for new construction in an area, there will be a demand for buildable lots. Some home investors, for example, are constantly on the lookout for new lots to build on. Wholesaling empty land that meets their criteria is as straightforward as it sounds. These potential markets can be found by searching for areas that have sold newly-built structures recently. Chances are, those are the areas where houses are being (and will continue to be) built. That’s where you should look to wholesale vacant lots.

Flipping vacant lots can mean a teardown (usually done where the land is more valuable than the house) or a cleanup. Once you turn the land around, selling it can be fast – if it’s in a desirable area. The margins are smaller than with SFHs, however, unless you’re dealing in larger, more expensive plots of land.

Each property type has its pros and cons–and this list does not cover it all. At the end of the day, it boils down to what you want, how many deals you want to do, and how much you want to make off each deal.

If you’re looking for straightforward wholesaling, go for SFHs.

For beginners, start by understanding your market and building your buyer list. You can do this by joining local real estate investor clubs. It’s easier to find properties that match buyers’ criteria than getting stuck with properties that nobody is interested in, so make sure you research the level of demand in your area for each property type before getting started.

What are your preferred property types to wholesale? What are you curious to wholesale next?

the best thing a wholesaler can do is find a class C property in a Class B area. Second best option: find one very close to a B area.

Image courtesy of Rodney

Categories
Wholesaling

Top 5 Insights for Successfully Wholesaling Real Estate After a Year of COVID-19

Wholesaling real estate

Now that the global pandemic has been with us for a year, which trends started in 2020 that will continue to affect the real estate market in 2021? Particularly for wholesalers, what insights should you take away from the situation? How can you adjust and take advantage of new opportunities brought about by the lockdown? 

Being in a dynamic industry, where the only thing constant is change, the key to wholesaling success is to spot market trends early, extract relevant insights, and adjust the way you conduct your business.

In this article, you’ll find five important real estate trends for you to keep an eye on if you want to pivot with the landscape and remain successful in wholesaling real estate in 2021 and beyond.

5 Real Estate Trends and How it Affects Wholesalers

While the list below is by no means comprehensive, we see five important changes that happened in response to the global pandemic. Let’s discuss what they mean for wholesalers and the real estate industry as a whole.

1. Work-from-home is now mainstream.

With stay-at-home orders and social distancing rules, many office workers have been working remotely for nearly a year now, and most have settled into this new normal. What does this mean for wholesalers?

  • Many office leases are not being renewed.
  • People living in expensive homes close to offices are excited to relocate to the more affordable suburbs.
  • Vacation towns are now becoming an option for permanent residency. People are tired of big, populated cities and are seeking new places with more freedom and space on offer. 

Wholesaler Action: you may want to pay more attention to rural areas, where there is an increased demand from buyers—these are the areas that most office workers couldn’t consider prior to the pandemic, but now can. 

Don’t wait until the competition becomes fierce! Take the lead and meet the high demand before other investors swoop in.

2. People want an upgrade from their current home.

Working from home and having less social interaction with the outside world also means that people are investing more in their homes now. They want larger houses and backyards, more rooms and privacy, and bigger patios and storage spaces—especially if they have children. 

Families (and people of all ages) are now willing to invest serious money into creating a comfortable home, more than they ever were prior to COVID.

Wholesaler Action: This means that wholesalers need to pay heightened attention to the features of a home and think about whether or not they will be attractive to remote workers, homeschooled children, and folks who want plenty of leisure space when stuck on the property.

Think of the homeowner’s needs and preferences, many of which have evolved with the times. 

3. More people want to purchase homes.

After the record-breaking low-interest rates in 2020, the forecast for this year is still a relatively stable and low-interest rate. It doesn’t take a genius to see that we still have a long way to go before the economy improves, which means that interest rates are unlikely to move much higher within the year. Additionally, the Federal Reserve has declared that rates won’t be raised through 2023 to support economic recovery efforts.

For the real estate industry, lower rates mean lower payments, which means buyers can afford higher purchase prices. So, it’s an attractive time for people to buy a house (or two). Think about it this way: a $300k loan at 3% is almost the same mortgage payment as a $200k loan at 6%.

Wholesaler Action: For wholesalers, this means it’ll be harder to find and secure properties that are below market value. However, this also means that the properties you do acquire will sell quickly and for a higher price.

4. Housing inventory is low.

Due to COVID being easily transmitted, many people have put off selling their houses simply because they don’t want to have strangers in their homes. This increased competition within the housing market, with people snatching up the few available houses at lightning speed—even if they’re priced at top dollar.

Wholesaler Action: This makes it harder for wholesalers to secure deals at a discount, but it makes it easier to exit deals with a much higher profit due to larger spreads. In other words, it’s a good time to put in the extra time and energy in securing good deals and making up for it multiple times more at the exit.

5. The housing market likely won’t crash.

Contrary to what others might predict, due to the housing shortage and skyrocketing home prices, the possibility of a market crash is quite low for the moment. 

Unlike the infamous 2008 crash, this time around lenders did not allow homeowners to extract their equity via home equity loans or other methods. At the same time, appreciation and lenders doing smart loans have created incredible equity for homeowners. This means that, even with a struggling economy and high unemployment, it’s highly unlikely that we’ll see a wave of foreclosures.

For example, let’s say someone loses their job and can’t afford to pay their current mortgage payment anymore. However, they do have $200k in equity in their home. Will they walk away from their property and let it go to foreclosure? Or will they sell it and try to get as much of the equity out as they can? The obvious answer is to sell, of course!

Conclusion

When a door closes, a window opens—and early adopters will reap the most rewards.

As long as there are people who want to buy their own homes, there will always be wholesaling opportunities to assist the buying and selling process.

Choosing to not capitalize on the current situation out of fear is a losing strategy. As the famous saying by hockey Hall of Famer Wayne Gretzky goes, “You miss 100% of the shots you don’t take!”

So, keep searching for the right opportunities, and you’ll continue to be successful in any circumstances. Besides, real estate constantly fluctuates, even without a pandemic – so think of this as just another one of the industry’s lovely challenges. 

Any important wholesaling opportunities we missed?

Image courtesy of Alena

Categories
Shortterm Rentals

What to Do if You Have Negative Past Reviews?

The internet is full of critics, so it’s no surprise if you’ve got a couple of negative reviews for your short-term rental. This can feel like a low blow, especially if you’re doing everything you can to please your guests.

You might also experience more negative feedback if you’re catering to a higher-end clientele. They often have higher standards (the towels aren’t white enough! The oysters aren’t fresh!) and are, unfortunately, more vocal about it, as well.

However, a bad review is not the end of the world! What’s crucial is your response. Look at these as an opportunity to prove critics wrong, by showing them how good your customer service actually is. 

Here are some tips on how to handle negative reviews.

Calm Down Before Reacting

If a bad review gets you emotional, calm down first. Any rash reactions might “prove” the negative review right and scare potential guests away—whether your reply is posted publicly, or directly to the guest. Calming down will also allow you to strategically decide what course of action will give you the most positive result.

For STRs listed on Airbnb, here’s a technique: If you already suspect that your current guest will give you a negative review, remember that the review won’t be published until after two weeks, or after both of you submit reviews of each other. 

You won’t be able to read their review until it’s published, but you can delay it. Either skip your review entirely or wait until the two weeks is up before submitting your review. This will help because the reviews are posted in order of rental dates. By delaying a potentially negative review for two weeks, you give yourself time to get positive reviews from more recent guests—effectively pushing the negative review down the timeline.

Communicate and Apologize

Once you’ve calmed down, contact the guest directly. Though you can’t change the review they posted, at least you can show that you’re concerned about giving your guests the best experience. 

Offer your apologies and ask if there’s anything you can do to address the issues. In many cases, their reactions are due to a simple misunderstanding, which should be easy to resolve. 

Remember that most complaints are not a personal attack—it’s all just business, at the end of the day. But if the reviews are getting personal (and are justified), then take them as critiques for your own improvement. 

If the reviews are unjustifiable and/or unreasonable, then maybe the guest was just having a bad day. It still won’t hurt to offer a sincere apology, as hospitality is your job as an STR host. 

Keep Future Guests in Mind

Remember that all posts are public. Reviews that are posted on your listing can be seen by anybody on the internet. Even private reviews or responses can spread like wildfire to the guests’ circle of influence. 

So, when you’re replying to negative reviews, keep your future guests in mind. Your response should “reverse” or lessen the severity of the negative review, undoing the damage done to your reputation.

Keep your replies short and professional. Avoid being defensive or putting the blame on the guests, as these will only make you look hot-headed and immature. You want to show future guests that you’re an owner who’s mature, objective, and won’t lash out like a teenager if there’s a complaint. State facts, instead of feelings—explaining your side in the most objective way possible, without attacking the guest in any way.

—

These tips should help you handle any negative reviews you might encounter. However, it’s much better to avoid getting bad reviews in the first place. 

Take note of past complaints, and address those before accepting new guests. Are they upset because of a misleading description? Uncomfortable beds or faulty appliances? Lack of cleanliness or WiFi? You can significantly improve your services just by listening to your guests!

Steps to Remember:

  1. Breathe, calm down, and don’t take it personally.
  2. Think of the best strategy to handle the situation. Sometimes, this means ignoring a review—but only when the review is obviously biased or inaccurate. 
  3. Communicate directly and professionally with the guest.

Most people just want to know that they’re being heard. So, when you receive a negative review, assess the situation properly. Take all reasonable feedback as a chance to improve, and take all unreasonable complaints as a chance to show great hospitality and customer service—the real product you’re selling!

What’s your experience with getting bad reviews for your STR? Any tips for how to manage negative reviews? 

Image courtesy of Michael Burrows

Categories
Wholesaling

6 Things Beginner Wholesalers Wish They Knew

Remember Carlton Sheets—that real estate guy who was always on TV in the late 1980s?

He was a legend in the industry, and one of the key influencers who popularized real estate wholesaling. He had a course on wholesaling that customers took through a toll-free phone number, where his iconic line encouraged people, “You can get started in real estate with no money!”

Sheets isn’t as famous nowadays, but the excitement he created for wholesaling is still alive and well. He inspired many people then and now to get involved in real estate wholesaling even if they didn’t have any background in it.

While the process can differ from case to case, the typical wholesaling procedure goes like so:

People get into wholesaling because it sounds so simple, but they don’t realize how difficult it is. While all beginners will face common pitfalls and inevitable challenges, our goal is to equip you with the knowledge to tackle them, head-on.

Read on to learn the seven things beginner wholesalers should know before getting started!

1. Generating Wholesale Leads is Harder than You Think

Most people read about real estate wholesaling and think it’s easy, as there’s little capital involved in the investment. However, research shows that most real estate agents fail in their first year because they can’t find enough good deals or buyers.

The reality is that generating wholesaling leads is difficult. And, like new real estate agents, most new wholesalers don’t have a network and don’t spend enough time building one.

Beginner wholesalers will typically call all their friends and family, get a deal or two, and immediately exhaust their options. Relying on friends and relatives isn’t a scalable strategy, so many wholesalers get through their first year and quickly fizzle out.

That’s why the most important thing to know as a new wholesaler is how to generate deals and build a pipeline that provides a consistent flow of deals.

Here are six of the ways you can generate wholesaling deals:

  • Make offers on the Multiple Listing Service (MLS)
  • Make offers on the United States Department of Housing and Urban Development (HUD)
  • Make offers at auctions, both offline and online
  • Make networking a priority
  • Make time to drive by neighborhoods and find distressed properties
  • Make your own website or Facebook page to get inbound deals

We’ve gone over the details of these methods in our article about finding wholesaling deals if you want to know more about the specifics of each one.

Once you get some momentum going, you can also hire an assistant to help you make offers, find listings, and close deals.

With your deal generation system set up, the next step is to learn how to analyze the deals properly, because…

2. Analyzing Deals Correctly Will Make or Break Your Success

Wholesalers need to position themselves as expert deal finders who make buyers’ lives easier. Your goal is to build a good reputation for yourself and establish your business towards growth and expansion.

To do so, you’d need to learn how to properly analyze wholesaling deals and become a master in creating value for buyers and investors.

Here’s how to accurately analyze your deals:

  1. Determine the After Repair Value (ARV): Run comparables (comps) in the area using websites such as Zillow or Redfin to see how a property will be worth AFTER it’s been fully renovated (AKA the “after repair value”). Comps are the properties within ¼ – ½ a mile of your property that are of similar size, type, beds/baths, and age, and have sold within the last 6 months.

Here’s the formula for determining your ARV:

  1. Evaluate the Estimated Repair Costs (ERC): As properties for wholesaling are often distressed, you need to understand the rehabilitation costs to know whether or not a particular property is really a good deal or not.

Here are some quick tips for estimating the repair costs accurately:

  1. Finalize the Ideal Purchase Price (The 65% Rule): After determining your ARV and ERC, you’ll now calculate the ideal purchase price for your investment property. You can use The 65% Rule to compute this, where the formula is as such:

The 65% Rule is the wholesaler’s adaptation of the flipper’s 70% Rule—a rule of thumb that tells the flipper to purchase properties at a maximum price of 70% of its ARV. As a wholesaler, you can have a 5% difference that enables you and the buyer to make a profit—especially when you’re selling to flippers. Investors are likely to steer clear from a price that is more than 65% of the ARV (minus the ERC).

Keep in mind that the opposite is true: if you don’t know how to analyze properties and offer great deals, you will struggle with building your reputation and growing your network of buyers and investors.

3. Having the Right Documents and Contracts is Key

Wholesaling is basically buying and selling contracts, so getting this part right is pretty important! However, a LOT of new wholesalers don’t even have the appropriate paperwork in place before getting started, and that can lead to them getting burned.

You need to have the right paperwork with a contract that is assignable:

Let’s take a look at the key factors a wholesale contract needs to have:

  • The Wholesale Real Estate Assignment Contract: This is the legal document that makes it possible to transfer the right to purchase a property from the wholesaler to an end buyer. Once you and the seller enter an equitable conversion (making the eventual buyer the owner of the property once they sign the contract), you need to draft an Assignment of Real Estate Purchase and Sale Agreement:
    • The Assignment of Real Estate Purchase should have a copy of the original purchase and sale agreement between you and the seller, informing the end buyer of all the terms, contingencies, conditions, and payment terms involved in the deal.
    • The Sale Agreement should say that the buyer will purchase the home from the seller and assume property ownership—effectively absolving you from all responsibility.
  • The Wholesale Real Estate Purchase Agreement: There are many components in this agreement. The Wholesalers Toolbox have shared their templates to get you started on your contracts and agreements. There are also other sources you can find on the internet, just make sure that include the parts highlighted in this sample:

Make sure you have all of this in place before finding your first deal so you don’t waste time or end up scrambling to pull the documents together when an opportunity comes along.

4. Keep Your Profit Margin Private by Following the Double Closing Technique

The double closing technique in wholesaling is a popular strategy, because it allows you to keep your wholesaler fee private. In other words, it lets you hide your profit margin. You won’t have to explain to potential buyers about the price differences between your contract and the seller’s, thus saving you the headache of being cut out of the transaction.

This method contrasts with contract assigning because you won’t have to purchase the property—you only facilitate the transferring of contracts. In a nutshell, the technique is closing two independent deals that happen almost simultaneously, sometimes within a few hours or weeks. One of them is with the property’s original seller, and another is with the end buyer.

As the wholesaler in both these transactions, you need to treat them as individual deals with their settlement statements:

  • Statements with the seller are referred to as HUD-1, and outlines the purchase price you have negotiated and settled on. HUD-1 includes any prepaid interest charges, homeowners’ insurance fees, title insurance, property taxes, and closing agent fees.
  • Statements with the buyer identify the final purchase price you have agreed to sell the property. This deal is contingent on the first closing with the original property owner.

For more information on this technique, you can visit here. But simply put, the process goes like so:

It’s not rocket science, but it does take a lot of leg work. There is also the stress of indecisive parties, people backing out suddenly, and aligning the schedules of everybody involved in the deal.

The double closing technique is a good alternative to contract assigning, especially when used as an exit strategy. Of course, you would need to put “more skin in the game” by taking legal possession of the property for all of five seconds, but if contract assigning doesn’t work, double closing can increase the chances of a deal transpiring.

5. How to Turn Any Lead Into a Deal

Now, how do you handle “imperfect deals” or deals that seem tough to profit from?

The good thing about real estate investing is that there are many ways in which you can still make a profit. As long as the seller is motivated, you can find a way to make money off the property.

For example, if the seller owes more than the house is worth (i.e., upside down in the mortgage), you could find a lender that will agree to wholesaling the property as a short sale. These deals are rare but entirely possible.

Here are two nontraditional ways to wholesale a short sale property:

  • Buy in a Land Trust: This agreement is where a Trustee agrees to hold the property title for the benefit of other parties, known as the Beneficiaries. The name you’ll put in the purchase contract is the Trustee (the primary buyer). The buyer will then submit copies of the trust documents to the bank, as lenders will require the buyer’s LLC documentation to be submitted along with the offer. Once you get to closing, the beneficial interest of the trust gets assigned to the end buyer for a wholesaling, assignment fee.
  • Create an LLC: You can also create an LLC with the end buyer (typically costing anywhere from $100 to $500), buy the property as an LLC, and sell it to the end buyer. The LLC’s name on the short sale approval letter will not change when the buyers change hands, and you’ll still charge a wholesaling fee.

Alternatively (and, if you ask me, the better way to earn money from real estate long-term), you can take ownership of the property and turn it into a cash flow generating rental. Thus, you’ll extend yourself into becoming a rental property investor—and still make money off the property.

6. Adapting to Shifting Markets is How to Scale & Sustain Your Wholesaling Business

Just like any other business, you need to stay updated with market shifts that affect your business. Real estate is a dynamic industry that requires you to spot market trends early, collect relevant insights, and adjust the way you conduct your wholesaling business constantly.

Take the recent pandemic, for example, that changed the industry for years to come. We noticed four trends for wholesalers to keep watch of to stay successful in 2021 onwards:

  1. Work-from-home Becoming Mainstream: Many office workers move out of dense cities and into residential areas with more freedom and space. Wholesalers, therefore, need to pay more attention to the rural areas where buyers are now increasingly interested in.
  2. People Upgrading Their Current Homes: With the pandemic forcing people to stay indoors, people are now willing to invest in comfortable homes with larger rooms, backyards, bigger patios, and more. Wholesalers need to pay attention to the evolving preferences of homeowners and their heightened attraction to certain home features.
  3. More People Purchasing Homes: Interest rates hit an all-time low in 2020, and the forecast for 2021 reflects similarly. With these low mortgage and interest rates for properties, people want to own homes more than before. While wholesalers will have a harder time finding properties, determined wholesalers that do secure homes will sell faster and at top dollar.
  4. Decrease in Housing Inventory: Given the ongoing transmission of COVID-19, people have put off selling their houses to minimize contact with strangers. Competition within the housing market then increases—decreasing the chances of wholesalers getting properties at a discount. Nevertheless, it also makes exiting deals much easier and at a higher profit—where supply is low, demand is high (due to low mortgage rates), and home prices are soaring.

The pandemic might be a one-time thing, but disruptions and changes will always happen in the industry. The only thing constant is change—which means wholesalers should stay updated!

Conclusion

Wholesaling real estate is deceptively easy… And it is if you know what you’re doing.

Start on the right footing, and you’ll set yourself up for real estate success in the wholesaling business. Continue to learn from successful investors who freely share their best tips, join networking groups to discuss with other wholesalers in your local area[3] , and get familiar with:

  • Generating wholesale leads
  • Analyzing properties properly
  • Securing the right documents and contracts
  • Learning how to double close wholesale deals
  • Turning any lead into an investment opportunity
  • Adapting to shifting markets

With these in your back pocket, you can be just as excited as Carlton Sheets about real estate investing. You’ll have the knowledge required to truly become a successful wholesaler and “start on your own path toward financial independence” today.

Image courtesy of Djordje Petrovic

Categories
Flipping

How an S Corp Election Can Help Flippers

While house-flipping is potentially very profitable, there’s an expensive catch.

You might have to pay a self-employment tax, which is a whopping 15.3% of your profit. That’s a significant amount of money that can go to your next vacation or property you want to flip!

Nevertheless, there is a way to set up your business in such a way that you’re not required to pay the tax. Let’s take a look at how an S Corp election can help you pocket more of your flipping profits.

Why House Flipping is Subject to Self-Employment Tax

While the usual real estate investments such as buy-and-hold are considered a passive activity, flipping homes conducted in a limited liability company (LLC) are active transactions—required to pay self-employment tax on top of the income tax.

Let’s define these two things that come with flip-and-fix projects.

Active Income. Active income applies to anybody who runs a business where one earns ordinary income from performing a service or selling a product. Business owners must pay the 15.3% self-employment tax up to a net profit of $128,400. (Beyond this threshold, you’ll only pay 2.9% as the Social Security portion of the self-employment tax is removed.)

Self-employment Tax. In essence, self-employment tax is similar to payroll taxes withheld from an employee’s wages. For self-employed individuals like house flippers, however, they must cover both the employer and employee portion of the tax. In addition, members of an LLC taxed as a partnership are considered self-employed individuals—which means their earnings will be subject to self-employment tax if they participate in the partnership’s trade.

The 15.3% self-employment tax of your gross salary does chip away at every dollar you earn. Moreover, 15.3% comes in before including the marginal tax rate from the federal and state perspectives. For example:

So, naturally, we want to find a way to save on taxes. One way is to run your flip-and-fix business out of an S Corp instead of an LLC or C Corp. Let’s talk about how you can do this.

How an S Corp Election Can Save on Taxes

First, set up an LLC or C Corp, then elect to have it taxed as an S Corp. Said structure is a tax entity or federal tax election—not a legal one. It’s not for asset protection but for reducing your exposure to tax.

By conducting your business this way, self-employment taxes only apply to a “reasonable salary,” and you’ll pay the remainder of your income as a dividend—not subjected to self-employment taxes. 

Here’s how it’ll go: Set up the S Corp, set up payroll, and begin paying yourself a W2 wage. The self-employment tax will only apply to the W2 wage, and the rest of the income will be considered a cash distribution or cash dividend. Of course, you can only do this with an S Corp route.

Take a look at how the situation now changes and how much you can save:

If you earn $100k with no S Corp (either as a Sole Proprietorship or an LLC), you’ll report your income as Schedule C. You’re going to pay $15,300 on self-employment taxes even before the marginal tax rate or state taxes come into play.

However, if you’re taxed as an S Corp, you can pay $50k to yourself as a W2 wage and have the other half as a cash dividend. With the $100k split up, half of it won’t be subject to the 15.3% tax—and you can pocket $7,650 just like that.

Just remember to never pay yourself the entire profit in W2 Wages. The whole point of setting up an S Corp is to help you reduce taxable income!

Conclusion

There are so many other factors that will come into play, so make sure that you talk to your accountant before considering this tax election for your flipping business. You may be able to amend your LLC to take advantage of this technique or establish a new LLC to start conducting your business as S Corp from the get-go.

Either way, it’s a good strategy to save on taxes legally!

Image courtesy of Jopwell

What do you think of this technique? Any additional tips on how to save on taxes?

Categories
Wholesaling

5 High-Volume Influential Real Estate Investors to Learn From

There is no better way to become a successful real estate investor than by learning from those who’ve already done it. One of the greatest investors in this world, Warren Buffett, gave the same piece of advice when he said, “In the business world, the rearview mirror is always clearer than the windshield!”

Luckily, many real estate investors are more than willing to share their rearview mirrors with you.

Here are five of the most influential, high-volume real estate investors in the industry today. These real estate icons generously share their thoughts and experiences on social media, making it easy for you to follow and learn from them on a daily basis.

Max Maxwell

At the ripe age of 21, Max acquired his real estate broker’s license and began selling properties. He experienced the 2008 bubble burst and continued on this journey through real estate wholesaling. Years later, Max set up his first real estate investment company, Cash Homes Triad. He set a personal goal to earn six figures—which he did by December of 2017. 

In two years, he generated over $2 million in wholesaling fees alone.

Today, Max Maxwell is known as one of the top real estate investors in the country. He hosts annual Wholesaling Elite Live events—where one of them garnered over 1,200 attendees—dubbed the biggest wholesaling event in history.

Quoting from his website, “It is my strong desire to help others achieve financial freedom. By using my social media presence and hosting meetups and events, I hope to directly impact the lives of millions. Remember, you’re only one deal away!”

Here are the links for you to follow Max Maxwell online:

Max Maxwell constantly posts entrepreneurial tips on his Instagram and in-depth real estate advice on his YouTube channel. 

Raul Bolufe

Raul Bolufe is a CEO, investor, and coach in the real estate community. By his 23rd birthday, he famously flipped a total value of $15 million and made $355k off the Multiple Listing Service (MLS). 

Today, he is the president of the growing company Capital Rise Investments LLC and has done over 200 wholesale deals since his first one in 2014. He is passionate about sharing entrepreneurial advice and wholesaling-specific tips for real estate beginners looking to scale their businesses.

Raul Bolufe hosts the Flipping Miami podcast, where he talks about the following topics:

  • His average and highest monthly profit
  • His experience with real estate investing
  • His unique technique that grew his business
  • His tips on Section 8 and why it matters in investing
  • His best tips on how to search and land the best deals on MLS

Here are some of his other profiles online that you can follow:

Raul Bolufe posts generic advice for all entrepreneurs on his Instagram account and shares real estate wholesaling how-to videos on YouTube.

Tom Cafarella

Tom Cafarella is a real estate investor and broker-owner. He is considered to be one of the most successful real estate investors in Boston, Massachusetts. He lives by the motto “If you’re not happy with the work that you do, you’re never going to be great at it” and encourages all aspiring real estate investors to chase their dreams—just like he did. 

Today, Tom Cafarella is an expert at building and scaling real estate businesses. He has acquired the company Ocean City Development LLC. In addition, he passionately teaches other people how to increase deals, scale their return on investment (ROI), and how to gear their mindset towards investment success.

Follow and learn from his story and company here:

Tom Cafarella regularly shares valuable and practical tips across multiple channels—YouTube, Facebook, Twitter, and his podcast “Massachusetts Real Estate Careers with Tom Cafarella.”

Joe McCall

Joe McCall is the host of Real Estate Investing Mastery Podcast (ranked 4.8 out of 5.0 by 559 reviews on Apple Podcasts), where he shares the secrets of wholesaling and lease options to earn full-income figures. He helps people “escape the 9-5” by holding valuable conversations with successful real estate investors, discovering new strategies to implement in your real estate investment and business.

He is also the author of four real estate investing books, including one about wholesaling lease options (a fast and easy way to make money from real estate) and another about how to make extra money flipping houses while on vacation.

Here are some of his social media profiles that you can visit and follow:

Joe McCall posts practical how-to content on both YouTube and Twitter.

Additionally, he also speaks at conferences and workshops nationwide. His talks give all investors the necessary information on marketing, automation, and delegation in the real estate industry. 

He’s the guy Raul Bolufe learned his business growth hacks from!

Graham Stephan

If you’ve been watching real estate videos on YouTube, you’ve come across Graham Stephan.

Graham Stephan is a real estate agent that has gained a significant following online due to his real estate accomplishments and valuable lessons for investors. His content centers around financial independence and the importance of investing correctly. 

Graham Stephan is his own testimony, as he famously skipped college to jump into the real estate scene immediately. He got his real estate license at the age of 18 and earned $500 on his first commission. By the time he was 27, he had sold a total of $120 million worth of real estate and has earned up to $1.6 million a year—being praised by Kevin O’Leary for his impressive accomplishment.

Now that he’s 30 years old, he has reached a staggering net worth of around $6.5 million. He has served celebrity clients such as Orlando Bloom, Chloe Grace Moretz, and Wale. In addition, he works as a realtor associate for the luxury property brokerage, The Oppenheim Group. 

Follow Graham Stephan via these links:

Since 2017, Graham Stephan has decided to pursue YouTube as a full-time job. All his videos are for teaching real estate investors just like him.

Conclusion: You Can Be Next

It’s never been easier to learn from other investors today. With the rise of the internet and the generosity of successful real estate investors, the world of information and inspiration is literally at our fingertips!

Follow Max Maxwell, Raul Bolufe, Tom Cafarella, Joe McCall, and Graham Stephan for daily lessons and tips on becoming successful in the real estate scene. Their experience defines our future success.

Who knows… You just might be featured in an article like these in the future!

There are way too many influential people in the real estate industry we can all learn from. Anybody else you’d like to add to our list?

Disclaimer: We are not endorsing any of these investors or their advice. Always exercise caution when taking investment advice from people on the internet! 

Image courtesy of Rodnae Production

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