REI 009 » How to be a Wholesaling CEO – It’s Flipping Smarter

Wholesaling CEO

In this episode you’re in for a real treat. We’re going to dig into what it looks like be the CEO of your flipping business, or whatever kind of REI biz you’re in.

The sad truth is, most of us buy into the “real estate dream” of creating a lifestyle of freedom for ourselves and our family, only to end up creating just another JOB – and usually a much harder one – for ourselves.

Being your own boss is one thing. Building a real business – one that gives you freedom and life rather than stealing them away from you – well that’s another thing entirely.

So we’re getting up close and personal together with a good buddy of mine, Rob Swanson – and I’m telling you, this guy’s very epitome of how to do it right.

Yes, Rob’s a successful investor monetarily (i.e. he earns a great income doing deals today). But even more importantly, this guys knows how to craft a real business…that runs like a business.  And he’s got a specific, proven plan for doing this that we’ll crack open and dissect together.

What You’ll Learn

  • Fast Cash: How Rob scored his first 3 (cash) deals in under 45 days.
  • Essentials: What do you really need to be successful?  (this may surprise you)
  • The “Triangle Business Plan”: The three critical pieces of every deal he does
  • Blow by blow: A typical day in the life of a “Wholesale CEO”
  • The 80/20 rule for education before action
  • The 3 Keys: The first 3 critical Q’s he asks himself (and his team) every day without fail
  • Team Building: Who he hired for what positions, in what order and why
  • Rewards: Also how he compensates them, and how he’d probably do it different today
  • A Practical Plan: How to actually CREATE and LIVE the ” real estate dream” you/we bought into
  • Obliterating Fear (using the only ONE “weasel” clause you’ll ever need)
  • The Plan: A specific model for leveraging transactional (flip) income into residual (long term) income, without debt
  • And a whole bunch more…

Listen Now

Play

Video:

A Little About The Swansonator…

Rob Swanson Real Estate

Rob Swanson hails from the land of milk and honey (and skiing and fly fishing) that is Denver, CO. He’s a family man (wife +3 kiddies) entrepreneur, educator, and active real estate investor with 10+ years of REI experience.  He’s flipped hundreds of houses in 14 states and 22 cities, and today he’s typically buying around 10 or so houses/month and runs up to 10 to 20 rehab crews at any given time.  And when he’s not doing that, he’s probably our running ridiculously long ultra-marathans a mile above sea level. Or snow skiing. Or fly fishing. Or hiking…

My favorite 3 things about Rob:

  1. He’s a real person – down to earth, super personal and relatable…
  2. He’s honestly one of the most gifted, authentic teachers I’ve ever heard…
  3. He truly understands how to run a very successful REI biz and still have an awesome life full of freedom…

Stuff Mentioned in This Episode

Inner Circle Resources for This Episode

[Content protected for Inner Circle members only]

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32 Responses to “REI 009 » How to be a Wholesaling CEO – It’s Flipping Smarter”

  1. JP – What a great podcast! The information in it was amazing.

    • Thanks so much, Kelly! :D

      • JP. Great podcast. Regarding wholesaling…..is the primary challenge finding and securing a buyer within the timeperiod of the inspection clause? Would love to try this, but struggling with that aspect of it…?Thanks for your great podcasts

        • Hi, Ken. Yes, this can be a risk. You have a couple of options to mitigate that risk: 1) Start with your buyers first. Meaning find the folks you’ll be selling to FIRST, find out EXACTLY what they want, and then you’ll know how well your potential deal fits them ahead of time. 2) Have your potential buyer(s) assess the deal quickly, so it all fits within your inspection contingency in your contract. 3) Use an option contract instead of a purchase agreement (if you’re not sure how that works, I wrote a blog post or two about it – go to http://www.REItips.com and search for “Option Contract”) 4) If it’s a smoking enough deal, it’ll sell regardless

          Those are the ways I mitigate the risk you speak of.

  2. Great in-depth interview guys. There is a big difference in having some free and clear houses vs a huge portfolio with a bunch of debt.

    • I know, right??? I got on a bit of a soapbox on that issue I guess (sheepish grin) – but I’m CONVINCED that you CAN do REI debt free…and that it SHOULD be that way. Not that it was the main point of this episode, but it definitely came out, didn’t it?

  3. That was outstanding. You have to bring him back for a part 2. I totally agree with debt free investing at this juncture in my RE business. I’ve had the same landlord experience as you JP.

  4. Hey JP, once again, amazing content. I’m an hour south of rob in colorado springs. i gotta hook up with this guy. one quick question: what about the use of debt for short term fix and flip? whats your feeling on that? rob seemed to imply that he uses lenders for his flipping.

    • Hi, Cliff – yeah, you should connect with Rob! Also, another great friend of ours (both Rob and me) is Michael Jake, and he’s right there in Colorado Springs. You should look him up too at http://www.LocalMentor.com. Just be advised Mike drives like a mad man. ;-)

      Regarding using debt for short term flips, I can tolerate it. But also, you gotta be honest with yourself and admit that the debtor (you) is still slave to the lender, even in a short term situation. And you could always consider deal partnering instead of borrowing. That way, no debt!

      Here’s the debt free investing blog post I mentioned in the podcast, in case you’re interested: http://reitips.com/good-debt-bad-debt/

  5. oscar robertson Reply May 9, 2012 at 2:41 am

    The podcast was great! As usual you provided super informative, hard hitting information.

    I listened to the “53 Wholesale Mistakes ”

    THE BOMB !!!!!!

  6. lindsey kinnsch Reply May 9, 2012 at 2:52 am

    When I watched it on my phone I had a glitch and thought only half the podcast was available, but now that I have gone on my computer I’ve got the rest of it here, cool! I’m now an inner circle member and love REI education to play in the background while working from home buying properties. Its the best! Looking forward to it!

  7. Great Podcast once again. I actually listened to this while sitting in a cubicle at my engineering job, so this one really hit home. Awesome section on Action and the Speed of Implementation. “Money follows Velocity” is my new favorite quote. Rob’s confidence is inspiring. Keep up the great work.

  8. thanks j.p. i actually know mike jake. he’s a great guy. i took his mentorship program. his big push is definitely sub2′s. with some flipping thrown in. love what u got going on here my friend. truly awesome.

  9. A content rich production, as usual. Thanks for all of the great info guys, I always enjoy listening in. I listens to the Swansonator’s “53 Mistakes”, and I’ve got to say…ouch – but in a good way. I really felt like I was being called out and spoken to directly in a couple cases. Thanks for the reprimanding. I’ll keep that recording close and listen back in once I polish out a few blemishes in my wholesale operation.
    Much thanks fellas!

  10. jp where do I find “7 Ways to Succeed”

  11. Download Free: “53 Wholesale Mistakes” ($97 value) – Inner Circle only, see below.

    JP, how can I download? I can only listen to on here.

    • Hi, Choua. Since Rob still sells the 53 Wholesaling Mistakes” for $97, he asked me to make it “listen only” and not for people to download. Which I understand completely. I know it’s not as convenient as an MP3 you could pop on your iPod, but the whole audio is right here for you, and it’s not going anywhere.

  12. This was an Awesome podcast. Can’t wait for the next one.

  13. I love it. What is it?
    I didn’t get it the first time I listened to the podcast until the next times I drew out the Delta sign and connected the dot…

    It’s the triangle Rob’s laying out–the deals, buyers, and the network at the top.

    Thanks Rob and JP.

    Chant,

  14. JP

    Great podcast and I enjoyed the spiel on “bad debt” as well! Great tips and thanks for sharing the audio as well!

    Eric

  15. It was a great podcast, without a doubt. But I gotta say I couldn’t stop thinking about the beginning while I was listening to the whole thing. When Rob started his business there wasn’t a wholesaling guru on every corner hawking systems with affiliate marketing links. His ads weren’t lost in the competition of every other wholesaler who’s been churned out using sites like Craigslist of Backpage or taking calls on Google Voice.
    To say you don’t need a cell phone to start out as a wholesaler today just because they were not common when he started seems… I don’t know…like someone who’s business was established before tech really took over and that’s simply not a reality for anyone starting out today. Then, when he’s talking about his systems, it’s everything he said you don’t need: lead capturing phones, websites, tech, tech, tech.

    That said— I can’t wait to listen to 53 Mistakes or watch his Wholesale CEO training. Don’t get me wrong— Rob’s an amazing inspiration and I’m so glad you’ve made his materials available to us in the Inner Circle.

    My biggest take-away was debt vs. free and clear investing. Amazing advice.

  16. Upon re-reading what I wrote I just wanted to reiterate I got a lot out of the podcast and think Rob’s expertise and knowledge is really valuable stuff. I don’t want to come off like a whiner. I get the big picture and the point Rob was making about not having to have everything lined up to go out there and get some for yourself.

  17. Great stuff! I just started this business this year, and have completed 9-10 deals so far. This episode is just what I needed! It has made me re-focus on keeping things simple, and not get into too many things at once that take me away from my major purpose. I think we all agree with not spreading ourselves too thin, and to concentrate on flipping contracts first for experience and cash flow, but I, along with many others, had to learn the hard way. Ive kept several properties and the management involved and added duties/stress has taken away my ability to concentrate on building the foundation: Wholesaling and flipping contracts! I will now follow both yours and Rob’s advice and convert the cash flow into free-and-clears.
    Thanks for interviewing this guy, JP
    -Justin

    • Awesome, Justin. You’re welcome. Glad we were able to serve you, my friend! :-) Thanks for taking the time to comment.

  18. Really good podcast. I just found you on itunes. Glad I did. I have made 20 offers on bannk owned homes with 0 accepted. Just had agent request a bank stmt. but no transactional funding co. will do it and if they are they want $500. Do you think I should avoid reos?
    Thanks, Ryan

    • Hi, Ryan. Thanks for tuning in and for commenting! And great job on making the REO offers, even if they weren’t accepted. REOs is a numbers game many times. Hey, you’re taking action! And you’ll find yourself not getting a LOT of them, but that’s just part of it.

      As for proof of funds, have you considered finding private money? Having private money in your pocket is a powerful tool, and in your REO offers, you’d use as your POF a combination of a letter from your private lender + a copy of THEIR account with sufficient funds. Having some kind of solid POF on hand is essential when playing in the REO arena.

  19. 1/2/13 9:10 EST. Just finished listening to your webinar. Offer was made for whoesalingceo.com/ceo program. $97.00 for program with 3 bonuses. 30 day guaranty.Couldn’t get onto any http://www.wholesalingceo.com/ceo website to sign up. Would like to sign up for the above program! If you can get back to me with the directions to do such I would appreciate it.

    Thanks, Jerry

Trackbacks/Pingbacks

  1. Rob Swanson, Wholesale CEO | How He Hires His Team | Real Estate Investing Tips - Part 1 - August 1, 2013

    [...] far one of my most popular podcast episodes recently was my candid conversation with Rob Swanson in Denver. And for good reason: He’s a freakin’ [...]

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