How to Close 7 Deals a Month | Acquisitions Training for Wholesaling Real Estate (2022)

TL;DR

Learn the mechanics and strategies of successful real estate acquisitions from an industry veteran with over 19 years of experience.

Transcript

what's up guys it is rick in here and we are live and today we are going to talk all about acquisitions 100 acquisitions training and the really cool part is i'm going to share with you my 19 plus years approaching 20 years of signing up god i mean well over 1500 deals and i want to share with you i'm not even going to say their secrets but i'm goi... Read More

Key Insights

• 🏛️ Building rapport and authentic connections with sellers are crucial in successful real estate acquisitions.
• 🥺 Qualifying leads based on motivation, condition of the property, time frame, and price helps determine the potential for a deal.
• ❓ Price negotiation should involve offering below the expected retail value and assessing the seller's specific circumstances.
• 🏛️ Finding an acquisition manager who excels at rapport building and connecting with sellers is essential.

Questions & Answers

Q: What is the main goal of acquisitions in real estate?

The main goal of acquisitions is to convert a qualified lead into a contract to purchase a property. It involves building rapport with sellers, understanding their motivation, assessing the condition of the property, determining their time frame, and negotiating a favorable price.

Q: How can I find an acquisition manager for my real estate business?

Look for individuals who have made a positive impact on your life personally or professionally, and see if they would be interested in joining your team. It's important to find someone who can connect with sellers and build rapport effectively. Networking and personal referrals can also help you find potential acquisition managers.

Q: How do I determine the right price to offer for a property?

Research the actual retail value (ARV) of similar properties in the market to determine a ballpark figure. Cash buyers typically pay between 80-85% of the ARV, so aim to negotiate a price below that range. It's also crucial to assess the seller's motivation, the condition of the property, and the time frame to determine the best offer.

Q: Can I wholesale real estate in a different state as a non-resident?

It is possible to wholesale in a different state, but you will need to work with a title company that is licensed and insured in that specific state. Ensure that the title company you choose has the necessary credentials to handle transactions in the desired state.

Summary & Key Takeaways

• Rick Ginn, an experienced real estate investor, shares his expertise on acquisitions, discussing the mechanics and strategies he has learned over his 19+ years in the industry.

• He emphasizes the importance of being authentic and building rapport with sellers in order to successfully close deals.

• Rick also advises on the key factors to consider when qualifying leads, such as motivation, condition of the property, time frame, and price.