I had such an amazing call with Steve Trang today who is just killing it as a wholesaler and investor in the Phoenix, Arizona market! We talk about how the quarantine is treating him and his business. He says that they’re doing great, everything is moving forward and also doing what they’re supposed to do.
To listen to Steve Trang’s Alchemist Nation Podcast: #31 Alchemist Insights – Starting As A Wholesaler with Steve Trang
I ask Steve what is it that he is doing after realizing that he is a wealth builder, real estate disruptor, doing real estate brokerage and how did he get started to all this. He says that he does a lot of things but one thing he does mainly is building businesses and he loves real estate except for houses and people.
I further ask Steve what does he mean when he says that he is a real estate disruptor and what is he doing by saying this. He says that there are a lot of changes in the industry particularly 2 years ago when he started the podcast, there were ibuyers and people weren’t talking a lot about wholesalers who had been around forever. He further narrates that he wanted to highlight that disruption because he was thinking that the traditional real estate industry was going to get disrupted one way or another and he wanted to talk about realtors taking wholesaling seriously and whole sellers need to get actively licensed by the realtor agency.
I also ask him what is it that he has for training that people can jump into. He says that he teaches people sales training and the second one is private money. He further says that the second one is critical because right now we’re all pulling the same list, tracing it with the same companies, using the same platforms to call and text. He says that you need to be on your game because you have to win on the phone to get more conversion, more appointments minus spending as the first step and after that winning the appointments because they take a lot of time, money, and energy training. You have to win all as many as those you can. If you do not close 1 or 2 or 3 or 4 leads, you’re leaving money on the table.
He told me that he has never sold to Zillow after me asking him if he has ever sold to them. He says that they’re really more about wholesaling because with ibuyers you need to typically close on it first and he says that he wouldn’t say that is the biggest strategy because the margins are bigger. He would rather get in and get out because he doesn’t want to tie up the capital and doesn’t want to be holding back.
Steve offers advice to young local wholesalers that inspire to do it a little cleaner, a little better, maybe save some trouble for themselves in order to be successful.
1) – Have a mentor: Someone who can guide you and if you can afford coaching, go for it.
2) – Develop sales skills.
3) – Have the ability to focus.
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