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The Titanium Vault hosted by RJ Bates III
RJ Bates III, affectionately referred to as the Viking Wizard by his students, started his real estate investing career in 2014 after attending a real estate education program that put him $65,000 in debt. RJ contracted his first deal he found on the MLS and wholesaled it for a $7,500 assignment fee. That was the end of his former life and the beginning of his venture into becoming a real estate investor. Since that moment, RJ has become an influential figurehead in the real estate investing industry. He has successfully purchased and sold over 2,000 properties all across the USA including wholesale deals, rehabs, rentals, owner finances and short term rentals. One of his passions is being the host of The Titanium Vault Podcast where he interviews the top real estate investors and finally, RJ has won back to back Closers Olympics earning him the reputation as the King Closer!
The Titanium Vault hosted by RJ Bates III
Do Titanium University Members Close Deals? | The King Closer Reacts
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If youâre new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.
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Over 10 years in the real estate investing business
Closed deals in all 50 states
âOwned rentals in 12 states
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âClosed on over 2,000 properties
â125 contracts in 50 days (all live on YouTube)
âBack to back Closers Olympics Champion
Trained thousands of wholesalers to close more deals
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Now you guys know that I can close. You've seen me close deals over and over and over again. But can Titanium University members? Can they close deals? There was this theory prior to the creation of Titanium University that the way RJ closes deals, no one else could replicate it. I think we're starting to prove that wrong. So in today's King Closer Reacts, we're going to see a group, several titanium university members close the deals, but we're only going to watch one. If you want to watch the full video, it's on Brandon Clark's YouTube channel. Tyler Osborne has his own YouTube channel now and they're closing deals live. They brought on special guest Todd Chyne, so we're going to bring this up. Todd up here on the right, he's on the phone. He's going to be the one that's closing his deal. So let's find out if Titanium University member rocking the gear Look at all the Titanium gear Todd's going with the OG hat, the OG shirt. We got Tyler down here in the lab rocking the first class shirt. Let's see if Todd Sean can close this deal.
Speaker 2:Hello John.
Speaker 3:No.
Speaker 2:Oh, did I dial the right number? I was looking for John Washington regarding a property on water. Oh, no, okay, he must have gave me the wrong number. I got him. This is him. There you go. Hello, yes, oh, hi, is this John.
Speaker 3:Yes, it is.
Speaker 2:Hey, john, my name's Todd. I'm calling you regarding your property there on Lauder. Yes, are you still looking to sell that property?
Speaker 3:I would, if it's the right offer.
Speaker 1:All right, step number one in the closures formula you still looking to sell that property. This is an inbound lead. We already know the answer, but we just want to see how they're going to respond to that. Is it what he's giving us right now, if it's the right offer? I'd love it if Todd said what's the right offer, because step number two is how much do you want for the property?
Speaker 3:A low-ball offer. I got you. How much are you looking to sell it for? I never really put a price on it, but like I told previous people who called I, look on True Love, Zillow and. I look and I know the prices of those houses, what they're actually asking for and things like that. People put things up but I know it's not a house that I even looked at and asked if I was to build my house, would I be able to find a house in the same? And I come to find out.
Speaker 2:I can't do that.
Speaker 3:Gotcha. It's like people try to lowball and say, oh well, I can meet in this figure, and they'll be like, well, you're not going to find a house with no holes in the walls. I mean, yeah, you can go get one from the land bank for $1,000, with burn damage and all that If you're trying to put $40,000 or more into a house yeah, this house.
Speaker 1:You don't have to do that. So, again, this is why I love the way that we navigate these phone conversations. What do we want the seller to do? We want the seller to talk. Todd's done a great job here with two simple questions. Do you want to sell? I would, with the right price. No low ball offers. How much do you want for it? And instead of making this about him interjecting or anything like this, this he has set in silence and just let the seller ramble. He's getting a pretty good overview of where the seller is emotionally in this process of selling and what he means by some of the language that he's using, like lowball offers. He's already got an indication of what the repairs that are needed. This is the power of sitting back in silence and letting the seller talk more than you. Right, that makes sense.
Speaker 2:It does. No, I hear you.
Speaker 3:I don't necessarily like I will if it's like good enough for me to be able to say, hey, it's right, now's the time. I can't put the money.
Speaker 1:I want to put in there.
Speaker 3:I can't necessarily get the loan because a lot of these places the lowest you can have is a 640 if they try to give you a home loan, right? So my credit is not all you know 700s across the board. So I can't necessarily get a home loan, even if I need to do to fix the house. That's why I wouldn't mind, but it has to be something reasonable.
Speaker 2:Yeah, I got you. No, it makes sense.
Speaker 1:So one thing I want you guys to pay attention to. You see, todd, now he's starting to type, now he's starting to do deal analysis. He's going to be going into step four right, because he's already kind of in step three, which is the open-ended questions, because he didn't really have to ask. The seller's just already started to open up with his pain and motivation. So now he's moving on to analyzing the deal and at some point in time he's going to need to figure out a figure for that seller. He didn't get the number out of him. The seller said well, I'm looking at Trulia and Zillow and things like that. He still needs to get a figure, a number, an asking price out of the seller. But right now he's moving on to the deal analysis, where he can start comping and underwriting Love that activity while the seller is divulging. This is multitasking, right here, right, actively listening, while you're also comping and underwriting the deal.
Speaker 2:Is this a property? Do you live in this one, or is it one of your rentals?
Speaker 3:No, no, no. I purchased this property to actually live in it but I bought it free and clear.
Speaker 3:There's no liens or anything like that. Uh, so you know, I mean I do have stuff over there, you know. But uh, like I said, I have was going to redo it. So I, like you know they had, I like you know they had like a shower. You know how they install those showers with the vacuum and stuff. So they had one of those in there and it was covering the window. So I pulled all that stuff out. So that's why, again, certain little things happen with work and things like that, so I end up leaving out of the house. But other than that, like I said, there's no leaks in the roof, it's no holes in the wall or anything.
Speaker 3:Most of that stuff could just be painted. Somebody want to completely re-bottle it and drywall the walls and do all that stuff that's on them. I don't feel you have to necessarily do any of that work.
Speaker 2:Right? No, I usually keep them for rentals. So I would be. You know, I just want to make it nice and clean and safe, and that's you know. You don't know who's going to rent it from you and if they're going to tear it up or if they're going to keep it nice, you know. So as long as you do, that's, that's what I'm, that's what I try to live by. I learned the hard way.
Speaker 3:I think you know yeah, yeah, I know, I know I bought houses previously. You know I had to deal with a lot of things. So yeah, uh, I mean I would if it's reasonable. You know, as long as it's a reasonable price, I wouldn't. I would. I don't know how long would it take. Yeah it doesn't. I don't know if it's like cash offer or I don't know. You know because someone else I talked to. I think they're supposed to call me back today. Somebody else had called previous and asked the same question.
Speaker 1:So this is an interesting turn of events in the call. Now he's divulging that. He's talking to other people and this is what I always say, even with inbound leads, you guys have to understand nothing is exclusive when it comes to leads. Someone else is cold calling, someone else is sending direct mail. They filled out a form on multiple websites. There's no such thing as an exclusive lead, no matter what. So he's got competition in the sellers divulging that up front.
Speaker 1:He also is kind of asking Todd, like what's the process? Is this an all-cash offer? How long is it going to take? He's kind of asking questions. Now. That kind of shows his motivation. This means he wants to move quickly because he's asking I mean, I don't know how long this is going to take. I believe, based off of what I kind of think is going on here, this is probably Todd does the majority of his deals in Detroit I'm assuming this is a detroit lead, probably in his backyard. He probably knows exactly where he needs to get this deal price point wise. Um I I assume he's gonna be relatively aggressive at this point.
Speaker 3:Moving forward it's not like I got it on the market anything but yeah like I said, it's not so much being a liability right now to me, but I don't have the money to fix it up right now either. So it's like somebody wants it, they got it, they can actually take it. I'm not going to be, you know, I'm not going to go through all of that, because I'm paying taxes and stuff on this house, Even though they're not high. It's actually kind of low for that area.
Speaker 3:But you know the house I'm in. These taxes are like two grand. Over here I'm closer to eight miles and this house over there. They're like $900,000 a year.
Speaker 2:Yeah, yeah, I know that area where you're at now right out, right by the freeway, Schoolcraft. Yeah, what does the property need to? You know, if I was going to turn it into a rental and get someone in there, what? What do I got to do to it?
Speaker 3:uh, like I said, uh, bathroom, uh, because I took the tub out that toilet. So, just like you know, vanity, regular cosmetics for the bathroom, drywall for the walls, but they're to the beat.
Speaker 2:So so a whole new bath. I got to put the walls back on the bathroom, the floor, the tub and the tile, the vanity and the toilet. Just redo the bathroom right Pretty much Basically.
Speaker 3:But the inspector, like I said, the inspectors came by, you know, know things like if the stuff was just running, I had it up, they wouldn't be, they wouldn't. You know, they wouldn't mind if I had it that way while I was working on it. But, like I said, it's like the tub, the toilet, drywall, uh, that's pretty much it. I mean, I don't know if you could put a tile floor down there, because, you know, um, the rooms are just paint basically, uh, because they're hardwood floors okay, um the dining rooms no holes in the wall.
Speaker 3:Living room no holes in the wall. Uh, kitchen, it's like a kitchen kitchen countertop and you know the sink and stuff like that and that's it for the kitchen, uh and you know, put the power down. It's really not nothing besides the upstairs, because the upstairs is also. It's two rooms upstairs okay, you got two up and one down on the first floor it's two downstairs and the only way you can get to the upstairs is through one of the back rooms.
Speaker 1:Gotcha. So this is really good, the way that he's getting quite a bit of information about the repairs that are needed on this, the condition of the property. He's doing a really good job of just sitting back and being relaxed on this, not trying to bullet point too many questions about the condition and just letting the seller kind of compose his thoughts. I say this all the time Majority of sellers are not professionals when it comes to this. So when we ask them questions and then we think that they're automatically going to know how to answer that, but they don't do this all day, every day. So you have to have patience here and allow them to kind of compose the answer, the response to what you just asked them, so you can hear them saying, well, it's really not that much, but then it will give them like specifics that need to be done to the property. So this is really good. Great patience by Todd on this call I got it.
Speaker 3:So when you go up there you know you have the middle open space. Again, it's one room on one side and one room on the other side, gotcha.
Speaker 2:Yep, I'm familiar with that style house there. Yeah, it's a four bedroom, but when you got to go through a bedroom to get to a bedroom, it's a four bedroom. But when you got to go through a bedroom to get to a bedroom, when you're upstairs, do you have to walk. Do you have to walk through a bedroom and get to the other bedroom upstairs? No, not upstairs. Yeah, I got it. So we would consider it a three bedroom, even though I would use it as a four. But technically, because you got to walk through a bedroom to get upstairs, we don't count that bedroom.
Speaker 1:So it would be a Small little like just a nugget there by Todd. He's kind of building credibility right there with his knowledge Anytime you have an opportunity, without sounding like a know-it-all. I love how he kind of just passively said it like okay, we would have to consider that a three because of this. This builds credibility with the seller, allowing them to know like, hey, this is definitely not Todd's first rodeo. This is going to make that seller become more comfortable with him because he understands a, the, the location, uh, the type of house it is, and then also he has that knowledge of of the floor plan and what it would technically be considered which is a three bedroom, not a four bedroom three bedroom, but no big deal.
Speaker 2:How's the like? I know you told me about pretty much the inside there. What about is the furnace and hot water tank? Are they good? Do I need to replace them? Well the thing is over that.
Speaker 3:last winter it's like the last, not this the last winter I took that stuff out of there because I didn't want the bike to break in, but the furnace I had brought it back over. So I have a four burner furnace that's over there still. I took the hot water tank out of there because I was going to change it and put a 50 gallon in there. So the only thing you have to do so the duct work and everything is still ran, and the only thing pretty much with that furnace. I don't know if he was going to put a different furnace or use that one, but the furnace I got for it is a poor furnace and it's new and switch ordered and everything. I just didn't hook it back up.
Speaker 2:I got you, yeah, okay. Yeah, I I mean if we could use it definitely, and I know that's a 12794 Lauder, so I mean it still seems like it needs to work. It needs to be a little bit of work but, like I said, it's not like expensive. I mean for me. I don't do that. I buy houses. I'm not the guy to fix them. I have to hire people out. Sounds like you're the guy that fixes them so you could get things done cheaper than me. But so what price? I mean, from what you're telling me, what price makes sense to you?
Speaker 1:well, the fact that he's revisiting price now that we've got all this out right. We didn't get it early on. We want to get that number early on, but because he didn't, instead of just coming out and blindly shooting offer because we never actually want to give an offer in an ideal close we want to find a way to educate the seller and get them to say the number that works for us. This is another way that you do that. So now he's kind of asked about the condition. Then he laid the foundation right there of well, it's probably going to cost me a little bit more than you because I have to hire this out. So, with all that being said, what is that number? Let's see if it actually comes out for the seller this time.
Speaker 3:I mean, if you can get me close to 20, you can take it.
Speaker 2:Okay, that probably makes sense to me. Okay, and I'm just looking right now, the last thing that I haven't asked you about, just so I could figure out my rehab budget have you done anything with the windows or the roof, or what kind of condition are they in? The roof.
Speaker 3:Like I said, when I got the property a few years ago, the roof was in great condition. Like I said, as far as now, when it's been raining you know we've had a lot of rainy seasons, you know what I'm saying and it's no leaks as far as the roof goes.
Speaker 3:So, it's like it's nowhere in terror on it. Basically. Now I don't know if you might want to change shingles, because you know they've been, you know, over the course, but it's like there's nothing leaking in there far as the roof goes, far as the window the front windows, is a double pane windows, so like uh it's a front picture window, that's double pane. A couple of couple of windows are newer windows and some of them are not some are the original old wood windows.
Speaker 3:Yeah, so like the dining room has like the original, the kitchen has newer, the front has newer, like that. So it's like half and half, half new and half old windows.
Speaker 1:I should say that wondering what price Todd is thinking about offering here because we got close to 20. He said that makes sense. And then he follows it up with a follow-up question about the roof and the windows and then say well, there's older windows and some of the old original wooden ones. I am guessing he's probably going to come in at 15. That's just my gut. I actually don't know. I don't know the numbers, I don't know anything about this deal. I don't even know the location. I'm just assuming it's Detroit. I'm guessing he's going to come in at 15 and be okay with locking it up about 17-5.
Speaker 2:I got you. Yeah, I see upstairs. I'm looking at some good pictures now of the outside.
Speaker 3:Yeah, upstairs now of the outside Upstairs bedroom right there. That's new windows. In the front front Again, it's like some are old, so I think it's like one, two. So the front windows, if you're looking at the front, that front one and then the one that's like in the back back top top. That's new. The kitchen's new, so I think the only ones that's not is like the bathroom and where the dining room is. So the bedroom is one, two, three, four, it's maybe seven windows. That's not new.
Speaker 2:Right Gotcha Okay.
Speaker 3:That I can, kind of that I'm trying to give a that I can know. I'm looking, you know, for the bedroom. There's two rooms downstairs. There are two windows in each one of those rooms and those are not new windows in those rooms, in the bathroom.
Speaker 2:So on that side of the house, on the right side of the house, needs new windows the left side, where the driveway at it has only two on that side that probably need to be replaced, and that's where the driveway at it has, uh, only two on that side that's probably need to be replaced, and that's where the dining room is gotcha, okay, so I'll do some windows there and if I was able to come in here just to give you an idea, what I do is um kind of helps you, because you told me you paid it off. There's's no liens on it, right?
Speaker 3:Nothing you might owe Do you owe any taxes or water when it came to the water bill. So you know it's always going to come from water bill.
Speaker 2:Okay, but the water has been fixed. Like I said, when I pick the hot water tank off, it's been cut off. I got you, so it's not no running water or nothing like that. Okay, so I would come in pay your closing costs, because you know you have standard buyer closing costs and standard seller closing costs, but you know there's no real estate me and I'm running. Where I have to be at is I'm going to be right around the 17, the $18,000 range, okay.
Speaker 1:You can hear the excitement in the seller's voice right there. Okay, um, I felt like you could have been a little bit more aggressive there. Potentially 15, like I said, but I don't have a problem with this If 17 is a good number for them. That's where we want to lock it up. We don't want to gouge sellers. Again, I didn't know the numbers, I was just kind of feeling with the additional information there, with the windows that might have driven the price down a little bit lower, windows that might have driven the price down a little bit lower Again.
Speaker 1:One of the things I want you guys to pay attention to is the pace in which Todd is talking to the seller. It's very comfortable, it's relaxed. It's a slower pace, he's staying within himself, he's not getting excited. He's going through the formula like an expert. He's done this thousands and thousands of times. I really like the way that he sounds on the call. He's very cool and collected and just like hey, this is 17,000. That's where I need to be, um, if I am the seller on the other end, I feel very comfortable with the way todd has navigated this conversation would that be something that might work for you?
Speaker 2:are you saying that's what closing costs being paid out of? All of you're saying, yep, correct. The only thing that would like to give you an idea if I come in at, let's say, 17 five, ok, ok, and I pay the closing cost, the only thing that's going to come out of your 17 five would be the taxes and water. You know anything that's owed in taxes and water, ok, but if you don't owe anything, then you're going to get a check or a wire for $17,500.
Speaker 3:Okay, oh, we can do this then Okay, okay.
Speaker 1:I love the fact that he is allowing the seller to think about what is happening. So many times when we get to this part of the conversation, then we say you're going to get a check or a wire for $17,500 if you don't owe anything and then the seller is like so okay, the closer decides to say something else. It's not necessary. Allow them to think it's a big decision. It's an emotional decision at times. I don't feel like this one is overly emotional, but it could be, and maybe we just don't know this yet. Allow them to comprehend what they're about to say. We want them to make a decision that they're comfortable with, so give them the space.
Speaker 3:You said 17-5 in the Nile. You said, if there's anything owed on the water and attack, hey, but the water bill comes with a house. It's not zeroed out.
Speaker 2:No, no, yeah, the water bill. When you buy a house to get title insurance because I'm going to go through a title company, that stuff has to be paid. You probably bought it on a quick claim deed. Yes, yeah, that's why. Yeah, I can't do that.
Speaker 1:Again. Love how he is is again just kind of flexing his knowledge, um, and building even more credibility here, um, and kind of overcoming the objection about the water bill and just saying that's not how it's going to work here. And I know why you feel that way because you bought off a quick claim deed. Todd sounds like an expert. Because he is an expert. He is a real estate expert. This is why I preach this Become the real estate expert. You don't want to be an expert in marketing and sales. You want to be this guy. You want to be Todd Chun. You want to be the guy who knows exactly what the fuck's going on. I love this.
Speaker 2:My partner won't let me do that anymore.
Speaker 3:Yeah, I bought it from a guy. A guy bought like 40 houses. He lived in California.
Speaker 2:Yeah.
Speaker 3:And when we had all those houses at that time, man, he was just trying to liquidate houses. Man, I had it based on what he gave it to me for. So I was like I didn't mind it. If I'm going to have to pay the water bill, are you saying because summer tax that just came, so too.
Speaker 2:How much do you owe in the water? Do you think how much do you owe in?
Speaker 3:the water do you think it might be? Because last I know it was nine, so it might be close to like $1,500 or something like that.
Speaker 2:Right, right, what if I? What if I? Because I can't do much more. I know what, if I came in at 18, 000 at least I'll pay a little bit of you know, that'll go towards that a little bit and then, um again, still pay the closing costs at 18. No, I'm gonna come in at $18,000. I'm going to buy it for that Out of the 18, your water bill and taxes will be paid at closing, out of the 18, and the rest will go to you.
Speaker 1:Solve the problem, baby.
Speaker 2:Love it. Okay, okay, yeah. How soon can we do this, though? Well, here's what I'm going to do. What's your email, john?
Speaker 3:You ready for it?
Speaker 2:I am All lower caps.
Speaker 3:It's going to be H-E-N-N.
Speaker 1:We're going to mute that. We don't need to know the email. Oh we're still going.
Speaker 2:Yes, and the house is in your name by yourself. Yes, awesome, all right, I'm going to send you over the purchase agreement Now, the E sign. It's going to say $18,000. It'll say right on there that I'm paying all the closing costs. There's no real estate commissions. I'm buying it as is and you're selling it as is, and what that allows me to do is get it started. I'll get the title work going and then I'll make an appointment. Either myself or one of my partners will meet you and do our walkthrough and um and if everything you know, you told me everything about the property. So, as long as there's no surprises, we'll get it done. Usually, I put in there um four weeks, but we're right now with the title companies. We're closing them right around the three-week mark. Okay, so I'll get it done. It sounds like you want to get it done quickly, so I'll get it done as quickly as I can for you. Yeah, okay, the quicker the better. Yep, I hear you, absolutely. And the property.
Speaker 1:There you go, baby. Closed deal. Todd Schein amazing job, brother. I love having you inside titanium university. Uh, dude, todd is an absolute monster in detroit. Uh, we did a titanium summer olympics challenge, um inside the university group, and he led the way for his team. His team won. He was closing deals, signing deals, closing and funding deals throughout the three weeks of the competition and he led the way throughout and led his team to victory.
Speaker 1:And I just I have to say I am so proud of Brandon Clark, tyler Osborne and everyone from titanium university that has gone out and started creating content, doing live seller calls. You guys know how passionate I am about it. It is overwhelmingly emotional for me is overwhelmingly emotional for me. I'm not going to cry here on the video, but it means so much to me to be able to put out as many videos as I have talking to sellers and now to see people from all across the country some people veterans like Todd, who have been doing this for years. Some people like Tyler, that at the end of 2023 were messaging me on Facebook saying I just need to know where to get started. Should I pay for PPL? Should I pay for investment? What should I do Was lost and now is locking up deals he locked up a deal during this live as well and Brandon doing a challenge, just like the 50-day challenge.
Speaker 1:He wants to make $100,000 doing these lives. It's amazing to see and I could not be more proud of these gentlemen and everyone that has joined them. People throughout Titanium University have been jumping on these lives. It's been amazing to see. So support them. People throughout Titanium University have been jumping on these lives. It's been amazing to see, so support them. Go find Brandon Clark's YouTube channel. Subscribe to it. Find Tyler Osborne's YouTube channel and subscribe to it.
Speaker 1:These guys are passionate about what they do. They're doing deals, they're getting results and I love to see it. Todd, amazing job on this. That was picture perfect. Closers formula exactly the way we want calls to go. There's no need for multiple calls on that. That is a one dial close and you did an amazing job, brother. I'm so proud of you guys. Guys, give them a shout out in the comments. Okay, these guys are out here creating their own reality. Proud of you guys. Guys, give them a shout out in the comments. Okay, these guys are out here creating their own reality with wholesaling and now providing content for you guys to learn from as well. So give them a shout out in the comments, give them a like in this video. I appreciate it. Do Titanium University members close deals? Absolutely? We do every single day. There's another example of it. Appreciate you, guys. We'll see you all tomorrow.