Wholesaling SFRs in 2018 by the Numbers
Transcript:
Jack Butala: Jack and Jill here.
Jill DeWit: Hi!
Jack Butala: Welcome to the show today and this episode. Jill and I talk about ... Well, it's really me who's gonna talk. Wholesaling SFR's in 2018 by the numbers. How I like it.
Jill DeWit: I'm going to try to make it somewhat entertaining.
Jack Butala: Before I get into it, let's take a question posted by one of our members on the landinvestors.com online community. It's free.
Jill DeWit: Okay. Jason asks, "When it comes to selling property, would you recommend letting the seller pay with credit card? If so, what is the best credit card service that you recommend to use and get the best use out of it? Wouldn't it be easier to just completely avoid credit cards?" I think they mean buyer ...
Jack Butala: I have so much to say about this.
Jill DeWit: 'Cause sellers aren't usually paying. You're paying a seller. So, I'm assuming he means buyers.
Jack Butala: Let me be incredibly clear, and I'm not joking around.
Jill DeWit: Right.
Jack Butala: You absolutely have to take credit cards.
Jill DeWit: Yup.
Jack Butala: It is a game-changing, business-changing event. If you do not accept credit cards, you're going to lose 80% of your buyers. People are used to buying stuff online and real estate's no different.
Jill DeWit: Yup.
Jack Butala: Here's the problem. Credit card companies do not like the risk associated with real estate, in fact, they'll cut you off. Until now, Jill and I have spent over a year dealing with a company called Heartland Payment Systems. They are the bank, or processor that's in between Visa, MasterCard, American Express, and credit card companies like Apple Pay, BluePay, Stripe, PayPal, they literally are behind PayPal, so ...
Jill DeWit: Now they're behind us.
Jack Butala: They're behind us, so Jill and I asked them to develop a department, an individual department to manage the people for real estate. If you call Heartland, you're going to have to go through what we went through ...
Jill DeWit: A year-
Jack Butala: ... which took a year, or you can call-
Jill DeWit: A year and a lot of no's.
Jack Butala: We're about to put it on landinvestors.com, instructions on who to call there. On the landinvestors.com website, but if you email either one of us, I'll send you ... In fact, just email me jack@landinvestors.com and I'll just get you pointed to the exact person that they have that's going to handle this, that is handling it for everybody. We've got multiple people per day signing up for this, so ... this is not meant to be a commercial. Honestly, it's just really timely.
40% ... no 60% less than actually Stripe is ... and Stripe is the best. We've been using Stripe for quite some time but they've made it known recently that they do not want to process real estate transactions online, so we think we've solved it.
Jill DeWit: Yep. You need to do that.
Jack Butala: You need to do it.
Jill DeWit: Back to what he's saying. Here's my thing, too-
Jack Butala: We don't make any money on this, by the way, we're just trying to help.
Jill DeWit: Because you want them to pay online, it's just the easiest thing. Worst case scenario, if you're new and you're starting out, let's put it this way, you're new, you're starting out,