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/