Hey guys, its Jordan Santiago!
I always get a lot of different questions about what to do when scaling your wholesaling business. What hires should you make? What would they do? What would they get paid etc. We are going to break down the first 5 hires you should make when you are ready to scale your wholesaling business.
The First 5 Hires For Your Wholesale Business
1. Cold callers.
If you are using the cold call marketing method in your business and you have enough consistent momentum and money to pay a cold caller or multiple cold callers, you NEED to do it now.
Cold calling is a task that can be outsourced to an overseas individual or company for less than $6 an hour. You can find cold callers overseas at sites like upwork.com or onlinejobsph.com. Use that time you would be cold calling, and go scale the rest of the parts of your business.
Also known as virtual assistants. Virtual assistants, like cold callers can also be from overseas and paid $6 or less. Virtual assistants can do things like handle your books, reply to your SMS text campaigns, handle incoming calls, excel work, data scraping, and a whole lot more.
You can use virtual assistants for tedious tasks that take up your time that you can easily outsource and delegate. Tasks like these are not really income producers. Spend your time on the things that can really be generating revenue.
3. Acquisition Manager.
This will probably be your most important hire in the company. Acquisition Manager will be the individual that is taking over the sales side of the business.
Acquisition managers are the individuals in your business calling the sellers, making offers, negotiating, and getting properties locked up. Acquisition managers are usually paid a base salary + commission of anywhere from 5-10%.
4. Lead Manager.
A lead manager is a really important role when you have compiled a lot of leads in your CRM. A lead manager can be the one keeping your CRM clean, following up with older/cold leads, and making sure nothing falls through the cracks.
These lead managers can be virtual overseas or in the states. The pay for a lead manager differs depending on virtual or non virtual.
5. Dispo Manager/Transaction Coordinator.
Lastly, is the dispo manager and transaction coordinator. Starting off you can usually merge these roles into one. The dispo manager/transaction coordinator would be the person(s) marketing your deals to cash buyers after you have the deal under contract, and dealing with the title company/attorneys to make sure the deal closes smoothly. These individuals are best to be in state, but can be outsourced virtually as well. This role usually gets paid a base salary + commission as well.
Dont add all of these roles all on at once, but do it gradually and make sure you have 3-6 months expenses in the bank when you hire each roll. Hiring correctly, and the correct roles can add so much value to your wholesaling business. It will help you free up more time AND make more money.
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I have a huge black Friday sales coming up as well to help everyone! Happy investing!