545: $35K Per Deal With Novations (Step By Step Breakdown)

Most wholesalers skip over sellers who won't take a deep discount, but Rich Wonders built an entire nationwide novation real estate business out of exactly those leads. Rich is the Novation King, and he's got hundreds of wholesalers closing novation deals with an average fee around $35K using his step-by-step novation real estate process. In this episode he walks through his full three-phase novation in real estate strategy for getting sellers on board, finding the right listing agents, and avoiding the mistakes that blow deals up. If you've been wondering what is a novation in real estate or how novations real estate deals actually work, this is the episode. Ryan also brings a live novation deal to the table and Rich breaks down the numbers in real time.

 

KEY TALKING POINTS:

0:00 - Intro

0:33 - How Rich Wonders Became The "Novation King"

2:01 - Novation Deals

5:40 - How He Was Almost Homeless

6:40 - Learning Novations & The Numbers

10:28 - Mini-Masterclass On Novations

18:03 - Interviewing Agents

20:32 - Novation Myths & More Tips

29:47 - Ryan's Current Deal

36:17 - Closing Thoughts

37:32 - Outro

 

LINKS:

Instagram: Rich Wonders

https://www.instagram.com/novationking/

 

Links: Rich Wonders

https://linktr.ee/richwonders/

 

Instagram: David Lecko

https://www.instagram.com/dlecko

 

Website: DealMachine

https://www.dealmachine.com/pod

 

Instagram: Ryan Haywood

https://www.instagram.com/heritage_home_investments

 

Website: Heritage Home Investments

https://www.heritagehomeinvestments.com/