You may have already heard of wholesaling, but have you ever heard of long-distance wholesaling? As long as you have the assets that you can offer to other people, you’ll definitely crush it with this one.
In our episode for today with DetroitMogul, Chris Bruce, we’ll learn the tips and strategies on how to crush wholesaling as he shares the ins and outs of flipping houses that he learned through his journey.
Growing up seeing the best of both worlds from his parents, Chris was able to live his life by his design. He is now a successful Real Estate Investor and an Internet Landlord whose passion is teaching people how to earn money.
Here’s What You Missed
Having the business mindset
- “I got on with the best of both worlds in the sense I stayed humble obviously because of the things that my mom only had limited resources and things that she could provide, but then also saw the success if you put in hard work, you had your own business with the things that could happen.” (03:14)
- “I’m trading my hours for dollars. I know that I don’t want to do this for the rest of my life.” (03:52)
Long-distance wholesaling
- “The first thing you have to do is to do the research in that particular area or market.” (12:02)
- “If you can see that there’s a lot of cash transactions taking place, this is as simple as using softwares of public records, they have this data or you can even contact and get in touch with a realtor.” (12:12)
Duties of wholesalers
- “As a wholesaler, what we’re doing is we are marketing to either one, a distressed seller, or a homeowner that has a distressed property, or both.” (13:03)
- “What we’re doing essentially is we’re offering a service.” (13:13)
The challenge in finding properties
- “Always be marketing and understand that you are selling a solution to a problem. And as long as you understand that everybody’s not going to want the solution that you have for them.” (14:38)
- “When you go into homeowners, not everybody’s going to want to sell their properties for cash quickly and take somewhat of a discounted price for selling it.” (15:35)
Building presence in the online space
- “I would say that one of the things that I started to see early on is that we’re quickly moving from the brick and mortar into the click and order. A lot of people were still stuck in not wanting to adapt.” (16:48)
- “When I started to see these different things I was like I need to focus on having some type of asset that I can sell online because everybody’s online.” (17:19)
- “Social media have opened the gates for anybody to have an online business. That is where I would tell anybody to start at is start to grow an Instagram page and mark it on there.” (18:27)
Get quality creative design and receive an exclusive special VIP offer from DesignCrowd, (19:06)
Creating assets that will give value to people
- “The thing about it is that your main asset that you have will be the knowledge and expertise that you have. That’s something that I can never take away from regardless of anything.” (23:25)
- “The email list is so important because if you do the studies and look at it, more people spend money with a business through email, than they do social media, than they do radio advertising, you name it.” (23:53)
- “So what you want to do is, in order to get somebody to exchange their email address, in order for them to come on your email list is that you want to have something that you’re giving away.” (24:15)
Advantages of having a mentor and like-minded individuals
- “It’s so valuable when you get somebody that’s already where you want to be at. Then you’re able to basically get information from them as far as getting on coaching calls and asking them questions and just like them literally shortening the learning curve.” (29:42)
- “It’s just like the biggest, I would say, hack or assets that you can have in your life is a mentor and the right friends that hold you accountable, that call you out on your stuff that you’re doing, stuff that you shouldn’t be doing and also motivating you and helping you, lift you up to get you to what you want to be at.” (30:42)
Why focus on self-development
- “If you don’t really believe in yourself, if the combination between your ears is not positive and it’s not coming from a place of abundance, then you’re going to have a struggle regardless of what things I give you.” (33:59)
- “The best thing that you can really do is to focus on developing your mind of what entrepreneurs do on a consistent basis because motivation will only last.” (34:12)
- “Feed your brain with the possibilities and the abundance of all the different resources and things around. Then you can go out there and start taking action because now, you won’t give up in the midst of a little thing that gets in the way.” (35:28)
Listen to Podcast with Casanova
Quotes and Advice from our host and guest:
- “Your obsessions will become your possessions.” – Casanova (04:58)
- “Character is built through adversity.” – Casanova (09:54)
- “You gotta be willing to kick the door down. If they don’t want to let you in the front you have to go through the side. If they don’t want to let you in the side, you got to climb through a window and if all of the windows is locked. You got to go build your own building and open up the door and then you’d take clients and then they’ll come running.” – Casanova (10:07)
- “If you’re going to invest any time, any money into something, at least get a return on it.” – Chris (10:57)
- “ The world needs more of what you have. You are literally selfish if you hold on to something that you have of value, you’re not getting an opportunity to give it to other people.” – Chris (18:01)
- “Give value first. Don’t just ask for the sale.” – Chris (18:50)
- “At the end of the day, there has to be some type of process to get somebody from them being a total stranger, to them being a subscriber of your email list to them being a hot prospect to the buying and being a customer, and then hopefully being a repeated customer.” – Chris (26:14)
Chris Bruce: The Blueprint to Successful Long Distance Wholesaling?
Books, Mentions, and Links:
Chris Bruce
- Rich Dad, Poor Dad
- The 4-Hour Workweek
- Secrets of the Millionaire Mind
- The Obstacle is the Way
- Ryan Holiday
- Trust Me, I’m Lying
- Craigslist
- Robert Kiyosaki
- Tony Robbins
- MONEY Master the Game
- Tim Ferriss
- Charlamagne tha God
- Kevin Hart
- Tyrese Gibson
- How to Get Out of Your Own Way