WARNING to Wholesalers.... STOP Using the 70% RULE! | Summary and Q&A

TL;DR
- The 70 rule in wholesaling is outdated; learn the Lao strategy for negotiations.
Key Insights
- 🤝 The 70 rule is outdated and limits deal opportunities in modern wholesaling.
- 👻 The Lao strategy allows for negotiation flexibility and better deal outcomes.
- 💯 The perfect offer formula provides a progressive approach to pricing wholesale deals accurately.
- 🏛️ Building rapport with cash buyers is essential for successful wholesaling transactions.
- ❓ Market conditions and cash buyers dictate the selling price in wholesaling.
- 🤩 Negotiation is key in wholesaling, starting with lower offers and gradually increasing.
- 😃 Wholesalers should aim for a "no" to eventually reach a successful "yes" in negotiations.
Transcript
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Questions & Answers
Q: Why is the 70 rule no longer effective in wholesaling?
The 70 rule, based on MAO, restricts deal potential by setting a fixed maximum offer, hindering negotiation and deal opportunities.
Q: How does the Lao strategy improve wholesaling negotiations?
By starting with a lower offer and gradually increasing, the Lao strategy allows for negotiation flexibility, leading to better deal outcomes.
Q: What is the perfect offer formula in wholesaling?
The perfect offer formula is a progressive pricing approach based on ARV values, providing a more accurate and flexible way to determine wholesale deal pricing.
Q: Why is building rapport with cash buyers essential in wholesaling?
Building rapport with cash buyers is crucial as they ultimately determine the selling price, based on market conditions and risk assessment.
Summary & Key Takeaways
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The 70 rule, a failsafe in wholesaling, is outdated and limits deal opportunities.
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The Lao strategy, replacing the Mao mindset, allows for negotiation flexibility.
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The perfect offer formula offers a progressive approach to pricing wholesale deals accurately.
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