Let’s go back to the year 2010. I first joined a real estate club, found out about this new thing called wholesaling and was eager to make a lot money like everyone else. I was working a second shift job between the hours of 11:30 a.m. and 10 p.m., 4 days a week. I had Tuesdays off, so I would use that day to go to the sub group meetings for my real estate club. I took the whole year off to learn.
I did not quit my job; I simply transferred to another job with a better schedule. In 2011 I got myself a mentor who approached me and offered his services. I got better and better at time management and would return calls on lunches, breaks and after work and would work on my real estate business 100% of the weekends.
I tell people not to quit their job as soon as they hear about wholesaling. Maybe find a more flexible job, but don’t go cold turkey. In this blog post, I will talk about a few ways to help you wholesale while you are working.
3 Ways to Make Time for Wholesaling While Working a Full-Time Job
Use a Paid Answering Service
One of the problems with having a job was that I was putting out bandit signs, and people would call me at all times of the day. When I was at work, I could not pick up the phone and sometimes I couldn’t get these people on the phone when I called back. I found a company called Community Answering Service. At that time, they were taking 100 calls for $40 a month. Unfortunately, their prices have gone up since then.
Still, there are several companies out there who you can prepay to take calls — many of them for cheap. Now, keep in mind with the cheaper services that they do not screen; they act as an assistant. Meaning, they will say, “Nasar is currently not in his office, but I am glad to take a message.” The company I’ve used would ask for their name, the address of the property they were calling about, their phone number and how they heard about me. I would then get a text and email with the message. And I could call them back when time permitted.
Work With Someone in the Industry
The second problem was that sometimes I could not see a property when the seller wanted me to see it. That cost me a deal or two. When a seller is motivated, get in front of them ASAP because often they don’t care about money; they just want the problem gone.
To avoid this, I would work with someone in the business who was full time. They could look at the properties and find the buyers, and I would just focus on getting more deals. Now, not everyone needs to do this. Some people have 100% access to their phone at work. In my case, I was the guy who they would tell on if I took too long in the bathroom. I had to walk a straight line, so I could not be on the phone other than lunch or breaks. So if that’s you, giving up half on the deal could be a good idea. It’s better to get 50% of something than 100% of nothing. To this day, I am still thankful to that person I used to work with. She now buys some of my wholesale deals from me.
Use CRM Software to Get Organized
Another problem that can easily be fixed is a lack of organization. When I first got started, I would write all my leads down on paper in a notebook. Long story short, I would never follow up and lose the last conversation we had. That’s not good at all. You will probably need a CRM (Customer Relationship Management) software. This is very common in the sales industry. I use a service called Podio, which is free and offers a free app as well. Now I get a reminder to my phone when it’s time to call people back. And I can look at the lead to see our last conversation and my last offer. Not everyone will need this, but it’s helped me a lot. I am not naturally the most organized person.
These are just a few things you can do to wholesale while you work. Not everybody hates their job, I get that. I know some pretty good wholesalers who will not leave their day job because they love it. If you implement these three tips, your transition into wholesaling will be a whole lot easier.
What tips would you add to my list?
Leave a comment, and let’s chat!
Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.