EP 314: How to Take Your Wholesaling Operation National (and virtual!) w/ Cris Chico

You need a baseline of education and more repetition. I can give you training, but nothing takes the place of the actual doing of it.
– Cris Chico

How to Take Your Wholesaling Operation National (and virtual!) w/ Cris Chico

Read the Full Show Notes Below…

Cris is an OG. He’s the godfather of virtual wholesaling and has been doing deals in outside markets for almost 20 years. Without the luxuries of Google Street View, specialty mailing lists, or even a CRM, Cris has been able to innovate, teach, and change the way deals get done.

Here’s how Cris has used a nationwide strategy to create the most opportunity.

Why Take Wholesaling National?

There are many reasons why wholesales should take their business to a national market. Today, deals can be done anywhere. You don’t necessarily have to live in the same market as the house you are wholesaling. Expanding to a nationwide market will also help you expand the volume of leads you are bringing in the door.

Your cost per lead will go down, and you will have more opportunities to see deals, connect with people, and learn the business. When you are only getting a lead every few days, you’ll feel a lot of pressure to perform. But when several leads are coming in per day, you have more freedom to test sales tactics and gain valuable experience.

Tactics of National Wholesaling

Throughout his career, Cris has been a master of innovation in this industry. He was using public data to insert people’s names and property addresses onto direct mail before anyone else.

He had a system of taking messages before CRMs were a thing. As digital marketing evolved, Cris dove into the world of Facebook advertising. First targeting people by zip code, and then expanding his reach to be nationwide.

When utilizing digital marketing to reach a national audience, here are a few tips Cris recommends…

Aim to get $10k on average per assignment.As you get better, aim for $15k. Of course this will vary by market.
Utilize a detailed form to ensure the respondent is legitimately interested in selling.
Always make a loose offer on the first call. This will help you gauge the sellers flexibility on the price.
When a lead comes in, quickly look on Zillow to ensure it is viable.
Offer additional benefits that aid in relieving pain points – ie allow them to stay in the house for two weeks after the closing.
Use professional paperwork and contracts.
Request pictures of the property with the agreement and be specific as to how the pics should be taken.
Utilize Propelio or similar program to find buyers in the property’s market
Start with Facebook ads, then move on to Google
The creative is the most important part of your ad
Don’t get too personal, insinuating that Facebook or your company knows too much about a person. For example, don’t say, “Are you in foreclosure?” Instead mention that you buy houses in foreclosure.
Don’t yell at people.

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Cris Chico

Chico’s virtual wholesaling method is the engine that powers the FlipAnywhere Academy training program, a revolutionary system being used by students to create countless millions in markets all across the USA.

When he’s not helping people create the financial freedom they’ve always wanted, Chico spends his free time with his family in Florida.