Your Ultimate Wholesaling Action Plan

Phase 1: Foundation & Education (Weeks 1-2)

Goal: Build your knowledge base and set up your business structure.

• Complete Core Education: Read a comprehensive guide (like from REISkills.com!) or take a beginner course.
  • Date Completed: __/__/____
• Understand Your Market Laws: Research contract assignment vs. double closing laws in your state.
  • Date Completed: __/__/____
• Choose a Business Name & Structure: (e.g., LLC, Sole Proprietorship).
  • Date Completed: __/__/____
• Open a Separate Business Bank Account.
  • Date Completed: __/__/____
• Get a Dedicated Business Phone Number & Email.
  • Date Completed: __/__/____
• Secure “Proof of Funds” Letter: Build a relationship with a hard money lender or private investor who will provide one.
  • Date Completed: __/__/____

Phase 2: Market Analysis & Financials (Weeks 2-3)

Goal: Define your target area and understand the numbers.

• Choose Your Target Area(s): Select 1-3 specific neighborhoods or zip codes to focus on.
  • Date Completed: __/__/____
• Determine After Repair Value (ARV): Learn how to run comparable sales (comps).
  • Date Completed: __/__/____
• Calculate Your Maximum Allowable Offer (MAO): Learn and practice the standard formula: MAO = (ARV x 70%) – Repair Costs.
  • Date Completed: __/__/____
• Build Your Cash Buyer List: Start a spreadsheet to collect investor information.
  • Date Completed: __/__/____

Phase 3: The Marketing Machine – Finding Deals (Ongoing)

Goal: Generate a consistent flow of motivated seller leads.

• Create a Simple “We Buy Houses” Website or Landing Page.
  • Date Completed: __/__/____
• Order Bandit Signs and plan locations for placement.
  • Date Completed: __/__/____
• Draft a Direct Mail Letter or Postcard.
  • Date Completed: __/__/____
• Purchase a Targeted List of Motivated Sellers (e.g., probate, pre-foreclosure, absentee owners).
  • Date Completed: __/__/____
• Send First Round of Direct Mail.
  • Date Completed: __/__/____
• Practice Driving for Dollars weekly and log potential properties.
  • Date Completed: __/__/____
• Set Up Craigslist/Facebook Marketplace Alerts for keywords like “handyman special,” “as-is,” etc.
  • Date Completed: __/__/____

Phase 4: The Deal Workflow – From Lead to Contract (As Leads Come In)

Goal: Systematically qualify leads and secure contracts.

• Lead Comes In: Log it in your lead management system (e.g., a spreadsheet or CRM).
  • Date Completed: __/__/____
• Initial Phone Call/Vetting: Use a script to determine motivation, situation, and basic property details.
  • Date Completed: __/__/____
• Schedule the Property Visit.
  • Date Completed: __/__/____
• Property Walkthrough: Conduct a thorough visual inspection and take lots of photos/videos.
  • Date Completed: __/__/____
• Estimate Repair Costs accurately.
  • Date Completed: __/__/____
• Run Comps to determine the ARV.
  • Date Completed: __/__/____
• Calculate Your MAO and finalize your offer price.
  • Date Completed: __/__/____
• Present the Offer to the seller.
  • Date Completed: __/__/____
• Sign the Purchase Agreement and collect the EMD (Earnest Money Deposit).
  • Date Completed: __/__/____

Phase 5: The Flip – Finding a Buyer & Closing (Days/Weeks After Contract)

Goal: Assign the contract and get paid.

• Send Property Details to Your Cash Buyer List (e.g., via email blast).
  • Date Completed: __/__/____
• Schedule Property Viewings for interested buyers.
  • Date Completed: __/__/____
• Receive Offers from potential buyers.
  • Date Completed: __/__/____
• Sign the Assignment of Contract with the end buyer.
  • Date Completed: __/__/____
• Coordinate with Title Company for closing.
  • Date Completed: __/__/____
• Collect Your Assignment Fee at closing!
  • Date Completed: __/__/____

Phase 6: Post-Deal & Growth (After Each Deal)

Goal: Refine your process and build for the future.

• Deposit Your Wholesale Fee into your business account.
  • Date Completed: __/__/____
• Pay Any Outstanding Bills related to the deal (mailing, signs, etc.).
  • Date Completed: __/__/____
• Analyze the Deal: What went well? What could be improved?
  • Date Completed: __/__/____
• Add the End-Buyer and Any New Contacts to your permanent buyer list.
  • Date Completed: __/__/____
• Re-engage Your Marketing to find the next deal!
  • Date Completed: __/__/____

Pro Tip: Copy this list into a word processor, note-taking app (like Notion or Evernote), or project management tool (like Trello or Asana) to easily manage and track your progress digitally. Good luck

This script below is designed to build rapport, gather crucial information, and secure an appointment—all while maintaining a professional and helpful tone.