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Investing Strategies

Mission Impossible: Wholesale with Only a Phone and a Laptop

Want our step-by-step formula for flipping houses from your cell phone? Get it here.

(Note: Want the best system for fixing and flipping houses in the world? This brand new report exposes our step-by-step formula for wholesaling houses site-unseen in ANY area of the country … all from the comfort of your cell phone! Learn more.)

impossibleIf we told you our mission is to wholesale properties without physically seeing them – armed only with a laptop and a cell phone -- you would probably ask…

Can it be done?

And we would say…

We are GOING to do it.

And you would ask…

Are you serious?

And we would reply…

We are ALWAYS serious (When it comes to making money and investing).

Mission Impossible Complete: Meet Special Agent Chico

How do we know we can do it? Because we are in with the cool guys and one of them, Cris Chico, lives on the edge by doing this day-in and day-out. Cris works undercover flipping 2 to 4 properties a month (that’s $20,000-$40,000 a month and $240,000-$480,000 a year!).

If you previous training assignments, agent Chico taught us how to deploy a step-by step plan, choose our team of secret agents, complete necessary research , set the bate, perfect our new identities, and master some karate moves. Now it’s time to unleash his secret weapon…

secretYo, Chico! What’s your Secret, Mang?

So, what is Cris’s secret weapon to completing this Mission Impossible? It is a modern day, technological concept known as bracketing. The best way to explain this to let you read the recorded dialogue between Chico and Mogul’s Director of Awesomeness, Jp (me).

Jp: So, Chico. You have just blown some peoples’ minds with the concept of virtually wholesaling. Can this really be done, without ever seeing the property – using only a phone and a laptop?

Cris: Absolutely. It’s how I do business every day. It’s a concept I call bracketing.

Jp: You think you can give us some insight to this ridiculously awesome concept?

Cris: Sure. Bracketing is based on a comps report. It’s important to know that this is an accurate report. A Comps Report gives you the prices for all the homes in that area that should be within the same price range (bracket) as the property you are interested in.

Once you have pulled the report, set the filter to list the properties from highest to lowest. So if the highest priced property is $97,000 and the lowest price is $60,000, the $97,000 will be at the top of the list and the $60,000 would be at the bottom of the list.

A lot of people have all these formulas based on ARV, repairs, and this, and that…

The easiest way to figure out your price is just to look at the bottom of the sheet. At the top you have occupied properties, but you will notice as you get toward the bottom they become investor properties. That is where you want to be – at the bottom. Submit a price that is at or below that bottom price.

Jp: Wow, you have just blown a lot of peoples’ brains out. I mean you just pulled the trigger and “splat.” They are completely in shock.

Cris: Remember, this is just a soft pass, the initial offer. You can’t use this method on duplexes and other unit properties. For those types of properties, you have to consider return on investment. The bracketing concept is for single family homes.


Do It To It! Immediate Action Steps

Obtain a thorough comps report for the potential property.

Filter the properties so that the highest priced property is listed first and the lowest priced last.

Submit a soft pass at or below the lowest comp price.

Process and remember this information. This link will self-destruct in 5 min.

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