The Titanium Vault hosted by RJ Bates III

Breaking News: Transaction Coordination Sucks & Is The Worst Part Of Real Estate Investing

• RJ Bates III and David Olds • Episode 419

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If you’re new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.

We are nationwide virtual wholesalers and on this channel we share EVERYTHING that we do inside our business. So if you’re looking to close more deals - at higher assignments - anywhere in the country… You’re in the right place.

Who is Titanium Investments and What Have We Accomplished?

Over 10 years in the real estate investing business
Closed deals in all 50 states
​Owned rentals in 12 states
​Flipped houses in 11 states
​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
​Back to back Closers Olympics Champion
Trained thousands of wholesalers to close more deals

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Speaker 1:

Hey guys, rj Bates III here from Titanium Investments and I'm sure you've seen my videos where I close deals all across the country talking to sellers. But one thing you never see me do is paperwork. I absolutely despise transaction coordination Like. I don't think I can do deals without a solid TC, so that's why I brought David and his company on board to help us here at Titanium Investments. One thing I want to know is, david, can I actually close deals in all 50 states using your company?

Speaker 2:

You know it's interesting, there are a lot of people that say they can close deals in all 50 states. But we have the HUDs, we've actually done it. But the reason, you know, when we started Easy REI Closings, one of the things that we were very intent on doing and you know we started with the end in mind, which I know you talk about is we were very intent on a couple of things. One we wanted to make sure that we could serve our clients wherever they were at. Right, I didn't just want to be the guy in the Northeast or the person on the West coast. You know, if you come to me and you're like, hey, I got a deal in West Virginia, now I got one in Nebraska, or all 50 States in 50 days Right, we wanted to make sure that we were set up to handle that business seamlessly. Right, there'd be no hiccups. So one yes, we've actually closed deals in all 50 states. Some are far more challenging than others. You would not believe how hard Alaska is. It's a really weird place. But yeah, so, not only all 50 states, but all transaction types right.

Speaker 2:

Being an investor for 20 years, one thing that I understood is we do different deals differently, know, not every title company is built the same. So your, your normal title company may just want to do retail transactions, some may specialize like an investor, they may specialize in new construction, so whatever it is. So we made sure that when we, when we started our company, we went out and we made sure that we had multiple title companies in every state, because somebody who may do a wholesale deal may not do novation and that person may not do sub two or a rap or creative or whatever it is. So we work with 383 title companies across the country to make sure that, no matter where we send your file, we make sure it's going to get closed, because that is something that's very important to us. We take that responsibility of you trusting us with your file. Incredibly, it's very high on on all of the things that we do and we believe in full transparency. So, yeah, yes, the short answer is all 50 states, all transaction types.

Speaker 1:

So, but you also said all these creative things like Novation, sub2, seller Finance. You're going to help me out with all the paperwork on that, because I've done them myself and the people that we hire to be our transaction coordinators.

Speaker 2:

First off, there's nobody virtual. They're not $10 an hour people. These are the people that we hire, come with a lot of experience, they come from the title industry, from the mortgage industry, from insurance, from credit repair or credit collections. So when you start with us the next day, you have this team of I think we're at 16 coordinators now who understand how to navigate title and how to get these deals from the very start to the finish, because what's important to us is compressing time. Rj, I wanna make sure that from the moment you get Mrs Smith under contract at 123 Main Street, that we can get you closed just as quick as possible, because we all know time kills all deals. So the quicker we can get that done, the better for you.

Speaker 1:

So one of the biggest concerns about hiring a TC company with the virtual model what happens when I inevitably have to terminate a contract because the seller lied about the condition or there's title issues? How does that work with you guys and y'all's model?

Speaker 2:

So we're a little bit different. The transaction business is a very front-end heavy business, meaning you're going to send us your contract, we're going to go to work immediately on it. I don't know if it's going to close or if it's not, but I have to assume that you're going to close the next day, so our TCs immediately go to work. So what would happen in this case is we would call Mrs Smith. Hey, mrs Smith, we're working with RJ on your deal over at 123 Main Street. Hey, Mrs Smith, I'm going to be your point of contact from here all the way to closing and you're out Like you're out. Go get your next deal, go sell your deal possible. So we're going to do all that front end heavy work. A lot of people, if that deal dies, are going to charge you a cancellation fee. Which, bro, there's nothing worse than losing your $40,000 deal and getting an invoice from me for $200.

Speaker 2:

Like that's the worst. So we work on a little bit different. We work on a subscription model. So we're one flat fee for the month for, depending upon the number of deals that you're doing, and a couple of things happen there. One you can leverage that to get your deals done really in a fraction of the price. There are TCs out there that charge anywhere from $700 to $1,500 a deal. If you do five deals a month with us, we're at $325. It's incredibly cheap when you work on that basis. But also one of the things that we wanted to avoid was sending our clients an invoice for cancellation. I get why other companies do it, because somebody did work and the deal didn't close, but with that subscription model we don't have to do that. We can avoid all that. So our clients really love that.

Speaker 1:

Talk to me about the clients that have signed up for you, that were doing maybe three, four, five deals a month, and what you've seen kind of the growth after hiring you guys.

Speaker 2:

Yeah, so it's interesting. You know all of us whether we read Rich Dad, poor Dad or, you know, watch one of your videos or whatever it was that got us involved in real estate we got, we all like all of us, cause we all have the same personality quirks, right, we're all entrepreneurs and hustlers. We got into this business to do deals, right. Right, to talk to sellers and solve their problem and to take those deals and sell them off to investors and make really nice checks. That's awesome. But that personality type, that hustler, talkie personality like me right now, is also not the personality type that loves to do paperwork and all of that type of stuff. So, yeah, so those are the types of people we hire. Tell me what was the question again, because I've already forgotten.

Speaker 1:

Going from three to five deals a month to what kind of growth do they have?

Speaker 2:

So what happens is, you know, if you're not using a transaction coordinator and you're trying to do all of that yourself, well, now you've got 20% or 30% of your time where you're literally just walking through quicksand trying to solve problems. That one you don't want to solve, that you're not really equipped to solve, because nobody comes into this business understanding what a monument of title is, or, hey man, where do you go to get a lost trust document? Do you know? Our team does? What do you do when there's a mortgage that's never been released, that's 30 years old, that's just sitting out there, right? So these are the things that end up killing deals, right? That unnecessarily happen. And every time one of these deals closes, the average deal in the United States is $18,000. How many of those do you want to lose over the course of a year? It's crazy. Zero, right, right. So let us get these deals over the finish line for you. And so I talked a little bit at the beginning. A couple of things were really important to us at the beginning. One all 50 states, all transaction times, right.

Speaker 2:

So the rest of it comes from my frustration as an, where I would send my deal to the title company and he would be like no man can't get this thing closed, going to have to probate a quiet title whatever. And literally I'm crumpling up contracts and throwing them away right Tens of thousands of dollars. So that was very frustrating, until one day this one attorney we called him Dr no, because everything was no Like Jeremy. There's got to be a way to do this. How would you do this? What would you do? Well, man, I guess it was a probate deal. I guess if you got me the death certificate and obituary, all the errors to sign and a couple of affidavits, we could get this closed. I'm like stunned. I'm like you're kidding me. I've thrown away $100,000 worth of deals and I could have done something.

Speaker 2:

So that's, you know, a work ethic or just a core value for our transaction coordinators is there is no, no, we're not doing anything illegal, but we will always push to try to find a way to navigate through that circus. That sometimes is a title business. But beyond that, the other problem would be I would send my contract to a title company and it would just feel like apathy. Nobody gave a shit, nobody cared about my deal. And you know, one thing I talked to our coordinators about and I'll kind of gather them all up a couple of times a week is listen, little Bobby in Phoenix. This might be his only deal. Yeah, get this thing closed. I don't care what it takes, get it closed. Get it closed fast, cause he's got a wife or a girlfriend hopefully, not both, you know kids a VA, like he's got payments right.

Speaker 2:

So the one thing that we designed our company to do is to make sure that our coordinators cared as much about your deal as you do, and the way that we do that is they're on a blended pay system, so they get salary plus commission Nice, so as soon as your deal funds, it goes on their commission sheet, and they are very, very good about making sure that they're on there, so what that does, though, in essence, is they are constantly pushing these deals through as fast as they possibly can, so that's how we solve that problem.

Speaker 1:

Well, there you go. They do deals in all 50 states, all deal types. They're just incentivized to get your deal closed as much as you are. This is the reason why we brought David's team on to help us with all of our TC needs. Where can they find out? How do they sign up?

Speaker 2:

Yeah, so right underneath this video there's a little blue button that says book a call. So let's click that. There's a little calendar link. You can book a call with me and my team and let's talk about a couple of things, right? Let's talk about what were your goals for this year and did you hit them right?

Speaker 2:

Most people there's some scumbling block like I didn't hit that. You know what can we do between now and the end of the year. And let's talk about your business and what your plans are, cause you know we want to work with people who want to scale their business. So let's talk about how you're currently closing your deals, let's talk about how our process works and let's show you how we can remove you from that paperwork side of the business. Give you that 20 or 30% of your life back. And to your earlier question what we've seen over and over and over again is those guys and gals that are doing two to three deals. Now they're doing four, five, six. The six, seven people are now doing 10, 11, 12, because and I experienced this myself Once I didn't have to be fooling around with title companies.

Speaker 2:

I could focus on the stuff I loved which was dispo, so all of a sudden, I would go to my TC and be like what is this $28,000 in my account? Oh dummy, that's the deal from three weeks ago that you sold. I had forgotten all about it because I just went right on to my next deal. So that's what we can do for you, and the one thing that our coordinators hear over and over and over again from new clients is 30 or 45 days later they're like I had no idea how much of my life this was consuming.

Speaker 1:

I just didn't realize that I thought it was a thing I had to do and I didn't even realize this was an option. And how many deals you're just losing because you don't know how to actually coordinate that transaction.

Speaker 2:

And if you've been at this for a little bit, you just chalk it up to well, 50% of my deals aren't going to close. Well, what if we could grab new 10 or 15 or 20% of those deals and save?

Speaker 1:

them.

Speaker 2:

Well, like you said, even the one for some people could be life-changing Dude every deal is important and we really, you know, I tell people we have a white glove service, but we really I treat every deal like it's a Fabergé egg. I want to make sure that this thing gets over the finish line. You get paid, our coordinators get paid and we want to help you grow your business.