How To Make 500k A Month Wholesaling Real Estate | Nick Perry
Dec 20, 2024
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Nick Perry, an 8-figure entrepreneur and founder of The Seven Figure Cartel, shares his secrets to success in real estate wholesaling. He discusses scaling from local to nationwide strategies, the importance of building a strong sales team, and mastering marketing techniques. Nick emphasizes balancing personal life with professional ambitions, while navigating pitfalls like shiny object syndrome. He also delves into the role of AI in transforming the industry and highlights innovative methods for automated wholesaling as a smart investment strategy.
Nick Perry's success in nationwide wholesaling emphasizes the need for decisive action and adapted strategies to navigate competitive real estate markets.
Analyzing market dynamics with a focus on pending sales rather than just population size empowers investors to identify lucrative opportunities effectively.
The shift towards digital marketing methods, including PPC and Facebook ads, is essential for real estate businesses to thrive in today's evolving landscape.
Deep dives
The Importance of Decisiveness
Decisiveness plays a crucial role in entrepreneurship, as illustrated by Nick Perry's recent marriage during his honeymoon. Entrepreneurs often thrive when faced with challenges or spontaneous decisions, leading to success. This mentality of immediate commitment is key to distinguishing those who achieve their goals from those who do not. Making quick decisions can lead to unexpected opportunities, which is an essential skill in the business world.
Nationwide Wholesaling Strategy
Nick Perry pioneered the concept of nationwide wholesaling in real estate, starting in 2016 despite warnings against it. He found that generating leads in Texas was expensive and shifted his focus to a national market, resulting in lower costs and more opportunities. His first successful deal occurred in Harrisburg, Pennsylvania, despite having no local knowledge or buyer's list. This initial success validated his approach, allowing him to scale his business across multiple states.
Analyzing Real Estate Markets
Perry emphasizes the importance of analyzing real estate market dynamics rather than simply focusing on population size or rural classifications. He recommends prioritizing areas with a high percentage of pending sales, which indicates strong demand, over traditional metrics. This strategy has enabled his team to identify lucrative pockets in various states, leading to successful transactions. By focusing on supply and demand indicators, investors can optimize their deal flow.
Comping Properties Effectively
Competent property comping is a vital skill in nationwide wholesaling, as highlighted by Perry's CEO, Brandon. Over time, they have developed a systematic approach to assess and evaluate properties, considering various market factors to determine ARV accurately. The ability to adapt the comping process to different regions has proven essential for their success. Ultimately, strong comping skills are often a significant differentiator in closing profitable deals.
Adapting Marketing Strategies
The podcast underscores the evolution of marketing strategies in the real estate industry, particularly the shift towards digital and inbound methods. Direct mail and cold calling have become less effective and more challenging due to evolving regulations and consumer behavior. PPC and Facebook ads have shown higher conversion rates, offering quicker returns on marketing investments. This adaptation is necessary for survival and growth in an ever-changing market landscape.
Vision for Business Growth
Nick Perry envisions a path of growth beyond wholesaling by exploring business acquisitions in various sectors. He intends to incorporate his skills from real estate into the world of business roll-ups, capitalizing on the retirement of baby boomers. By recognizing the potential in targeting stagnant businesses, Perry aims to create a lucrative network and increase his portfolio's value. His long-term vision centers on achieving significant financial milestones while also giving back to the community through charitable initiatives.
Get high quality, motivated seller leads, on autopilot for your real estate business. https://www.leadkitchen.com/ --- Ready to level up your real estate business? In this episode of The Wealthy Way, I sit down with Nick Perry, an 8-figure entrepreneur and one of the most successful wholesalers in the game. With over 1,500 deals under his belt and his educational program, The Seven Figure Cartel, Nick is passionate about helping others achieve the same massive success he’s built for himself.
Nick shares his journey of scaling from local to nationwide wholesaling, breaking down the strategies that helped him dominate in competitive markets. We discuss the importance of building a top-notch sales team, maximizing profit margins, and how understanding novation can give you an edge. Nick also offers advice on avoiding common pitfalls, like shiny object syndrome, and staying focused on long-term goals.
But this conversation isn’t just about business tactics it’s about building a life that works on all levels. We talk about the importance of balance, incorporating faith, family, and health while chasing big dreams. Nick’s approach to entrepreneurship shows you don’t have to sacrifice what matters most to achieve incredible success.
This episode is packed with valuable insights for anyone looking to scale a real estate business or improve their mindset as an entrepreneur. Don’t miss our discussion on the future of real estate, the role of AI in the industry, and what it takes to build a business that thrives long-term.
Connect with Nick: IG: https://www.instagram.com/nickperryrei
Join our FREE community, weekly calls, and bible studies for Christian entrepreneurs and business people. https://www.wealthykingdom.com/
If you want to level up, text me at 725-527-7783! ---
About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generat...
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