RG 132 – How to Create the Ultimate Wholesaling Real Estate Business with Brad Chandler
- Brad is the co-founder of Express Home Buyers
- Brad works in single family homes
Nuts and Bolts
Brad is the co-founder of Express Home Buyers and he presides over a real estate investing empire with over 200 deals a year – all of which happen without his assistance. Brad also runs Brad Chandler Coaching.Brad made his first dollar buying candy with coupons for about 5cents and selling them at school for 25 cents. Brad got into real estate investing in 9th grade after reading a book about buying a home with no money down. He had to move into social housing as a child so he was affected by this book where you could buy a house with no money. He then made the next 15 years of education all about teaching himself real estate and he got 2 degrees on the same topic; an undergrad in residential property management and an MBA in real estate. In 2002 his neighbours home was bought by an investor who taught him all about fix and flip so he decided to get into that on the side of his day job. It took him 8 months to find his first deal, but 15 years later and he’s approaching 2500 houses completed.
Brad prefers doing single family deals because it’s connected with his feeling of helping families get a home and what happened to him as a child. He has 26 people in his team doing 200 wholesale deals per year, the company is rapidly expanding doing fast deals that take 2-3 weeks to close. Most of the deals are wholesale but sometimes they buy the property outright. The process starts with a lead coming in, they go to talk to the seller and analyse the deal, then they offer a price and if it’s accepted they’ll come out to the property and do an inspection and write a contract before closing. Brad sees himself as a sales and marketing company before real estate.
Brad teaches people how to start a wholesaling business and this is covered by case studies on his website and with his free book. You don’t need capital to fix houses with wholesaling, all you need is sales training to learn how to speak to a customer. Then you need to learn how to estimate renovation costs and set up a CRM follow up system. So many people fail in wholesaling because of their mindset and lack of persistence. Brad always knew that he didn’t want to be running his business for ever so he made sure to set it up so that it can run without him, He hired a consultant and started systematizing the business from day 1. His advice for doing the same is to make sure you hire the right people because all the problem in business come from people. The first person to hire is someone to deal with the non-dollar producing jobs and then the next person is a CEO so that you can step away and become a chairman. Brad advises to take your time hiring, even if you have to interview 25 people then you should, you can’t afford to get it wrong. Look for energetic people and do a behavioural test to check they fit the job description.
- Most important habit – Time-blocking and not being consumed by email
- Most influential person – Gary Keller
- Most important tool – Google
- Most educational failure – Lost $3million on a series of development deals
Contact – bradchandler.com