When we first interviewed Max Maxwell he was at 500 Youtube subscribers. Check him out today…
I did not believe it was possible to make $10,000 a month with no license and no money in real estate. That is, until Max Maxwell introduced me to the concept of wholesaling!
In this remastered episode, Max breaks down exactly how he did it. Today, he is making more than $40,000 a month and documenting EVERYTHING on his Youtube channel.
Here Is What You Will Learn
- How to structure your personal and work life to lead you to liberation
- The step by step process I undertook to go from homeless to a 6 figure income.
- The tools you need to start wholesaling real estate with almost no money
- Why every deal is not a deal – what to watch out for that could lose you money.
Listen to this episode and many others here ➞ https://www.panafricanalliance.com/benefits/
Resources Mentioned In This Episode
To find the owner of a property, use either the Landglide App or do a search for [your county] GIS (Geographical Informational Systems). You can also hire someone to do this for about $5. Go to https://www.panafricanalliance.com/fiverr and do a search for real estate skip tracing
Once you are ready to start building your team, here is what you outsource first
1. All administrative tasks – Anything that does not make money but still needs to be done. Creating spreadsheets, collecting data, doing research, creating websites – all these things should be outsourced! If you are on a budget, use https://www.panafricanalliance.com/fiverr
2. Support – Hire someone to answer the phones and emails. (Max suggests using Onlinejobs.ph)
3. Sales personnel – Hire someone to go out into the field and close deals for you.
Here is a simple formula for finding a good wholesale deal:
Step 1: Go on Zillow
Step 2: Subtract 30% of the price of the home that you are looking at
Step 3: Subtract the cost of all repairs. If the repairs are minor, you can estimate $15 per square foot. If the repairs are extensive, estimate $35 per square foot
Step 4: Subtract your fee from the deal ($5,000)
The sum will give you the maximum offer you should make to a property owner.