Alex and I welcome Brian Ellwood as our guest for this episode. Brian originally hails from Tennessee but now lives in Denver where he operates his thriving real estate investing business. However, he still does deals virtually back in the Volunteer State.
It was in 2011 when Brian first learned about wholesaling. He was working in a grocery store for $9 an hour, having walked away from a corporate job to spend some time soul-searching. It was during this time that he happened to find a property for a wholesaler and was paid a cool grand for 2 hours of work. Quite an eye opener and a game-changer. He was ready to go all out.
Brian shares with us how his business evolved… and how he pushed through those early fears, which as he freely admits, include him being terrified to talk to sellers on the phone.
We learn that Brian is a real numbers guy, going to great lengths to know his KPI (key performance indicators). He uses what he terms a “financial forecast,” in order to plan ahead so there will be no nasty surprises when the business fluctuates.
While Brian started out in wholesaling, today his business leans more toward rehabbing. Or more specifically wholetailing, which is a hybrid between traditional wholesaling and retail. As he says, houses that go on the MLS have a much larger pool of buyers than wholesaling.
Brian also has a love of teaching, mentoring and coaching. Because this business changed his life for the better, he’s ready to share with others.
Listen and enjoy:
- Early days driving for dollars
- How Brian overcame his worst fears
- His KPI in the beginning days – the KPI today
- Learning to outsource
- When to hire an acquisitions manager
- Finding bottlenecks that slow the business
- Brian’s financial forecast
- How he breaks down and uses the numbers in his business
- Why he’s turned to wholetailing
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Joe’s Coaching Program: Joe McCall Coaching
- Podcast Hotline: 636.255.8815
- Brian’s website: Brian Ellwood
- Todd Toback’s website: No Limits Real Estate Investing
- The Pumpkin Plan by Mike Michalowicz
- Podcast episode with Britnie Turner: If at First You Don’t Succeed–Try, Try Again
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