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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
Is Caesar Lacosta A Closer? | The King Closer Reacts
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At Titanium University. We are about doing deals Now here at the King Closer Reacts. It's about me reacting to closers and seeing if they're really closers or not. Now you see me react to Titanium University members like JW Todd Chun, tyler Osborne, brandon Clark Today putting Caesar on the hot seat. We're going to find out if Caesar is a closer or not. Now here's the date. In Caesar's description of his video, he says he perfectly uses the King Closers formula to close this deal. So let's find out if he did or not.
Speaker 2:Do you want me to call you in an hour or do you wanted me to call you before the hour is up?
Speaker 3:If you're available, I can talk now. So are you glad my message? I had never received the paperwork, yeah.
Speaker 2:I don't know if I sent the contract over to you because our conversation was quite short, because you had people over. I know your husband was. I believe he went to the ER right, If I'm not mistaken.
Speaker 3:Yes, he was in the hospital almost all last week.
Speaker 2:Oh, is he home now?
Speaker 3:He got home, yes, two days ago.
Speaker 2:Oh wonderful, that's great news. So everything is looking good, everything's good.
Speaker 3:Well, it's looking better.
Speaker 2:It's looking.
Speaker 1:It's looking better, okay, well, there you go first thing I'll say about caesar is I love his energy. He brings this all the time inside of our community. He brings it inside the implementation calls. I love his energy. Um, I love his his demeanor on the phones. Uh, so far it feels like this is a follow-up call to the initial call. So the beginning, you know, obviously kind of readdressing. This is who I am. You know I'm making sure I'm calling you at the time that we discuss. Now that he's kind of gone through okay, the husband went into the hospital, husband's back and everything. Now this is where I would see Caesar. Okay, now let's start implementing the formula. Let's get into this wonderful.
Speaker 2:Well, first and foremost, that's what I wanted to to at least touch base was to make sure that your husband was okay and, uh, you guys, you know that he's back home now. Um, so yeah, just if you don't mind, like I said, because our conversation was short, you had a lot of people there, you had family over, right, and I wanted to be respectful of your time.
Speaker 3:I'm sorry. I didn't have any family over. When did you call me? Was I in the ER?
Speaker 2:No, you were not in the ER. It was, oh gosh, it was like Labor Day weekend when I called you. Oh my son.
Speaker 3:My son was here yeah.
Speaker 2:Yeah, yeah, yeah, Someone was there and so I was like hey, I don't want to take too much of your time. You gave me like five, 10 minutes.
Speaker 3:Let's have the conversation now.
Speaker 2:Yeah, absolutely so. The property that you're looking to sell is on Kelly Drive, and how much were you looking to get for it? Again? Just refresh my memory, if you don't mind.
Speaker 3:Well, I have. Currently I have an offer for 420.
Speaker 2:Okay.
Speaker 1:I have not accepted it yet, but I made very well today or tomorrow with the latest, okay so interesting response from the seller. This is Cesar's first test. She says she has an offer for 420. She hasn't accepted anything. I'd really like to see him kind of come back with something like well, you haven't accepted that, what's the number that you would accept and what's the number that you are looking for? What's the magic number, something along the lines to get her just to verify that 420 is in the room, or what is the number that she really wants 420.
Speaker 2:Okay, and how quickly can they close?
Speaker 3:Well, I'm looking for like 90 days or just under, okay, 90 days In the middle of packing. I've been in this house for 23 years. My husband can't do very much and I'm having some challenges myself. So you know the packing is moving.
Speaker 2:Hello Margarita, margarita, hello, yeah, you got cut off there for a second.
Speaker 3:Oh, okay, I was here all the time, anyway. So what did you miss? What did you hear?
Speaker 2:You said that 90 days or less. You know, obviously your husband can't do much, and you say you were having some challenges yourself. And then that's where. Okay, so I got most of it, yep.
Speaker 3:So the packing is moving slowly.
Speaker 2:Got it, okay. Yeah, we can definitely work with your timeline as well, so that's not a problem, okay. Okay, well, tell me what you got going on over there as far as the condition of the house, if you don't mind walking me through it.
Speaker 1:So he did kind of point her again with the timeline question and kind of threw it off a little bit. Would have preferred to say how much you're looking to get for it. She said $420,000. Then he could have said is that how much you're wanting for the house, or what's the number that you need to accept today? Would have liked to revisit that a little bit just to get clarification. Wouldn't have touched on the timeline.
Speaker 1:There I saw what he was doing. He viewed the $420 420 as a competitor's number and so he's trying to find a way to beat his competition. I would have rather stayed on the price and then just strolled into well, tell me a little bit about what you got going on. We already understand some of the pain and motivation with the sickness and obviously the health struggles that her and her husband are going through, uh. But again, we don't want to steer too much down a path of condition, because now this is just strictly going to be on the condition of the property and this is what gets us into, uh, not really understanding the pain and motivation. So maybe he feels like he already knows that well enough. He did have a prior conversation, so there might be information that we don't know on this, but again, love the demeanor. Got to talk to him about the keyboard, though. On the content side, cesar, if you're watching this, bro, you got to find a way to get that a little bit lighter on the microphone.
Speaker 3:I would say it's good, but not great.
Speaker 2:Okay.
Speaker 3:It does need some cosmetic work. There's nothing We've taken care of any of the other issues or problems. You know there was a little foundation stuff we had to do. There was some sewer stuff we had to do. We did all of that over the last couple of years. So there's nothing like majorly wrong with the house. It's just basically, you know, cosmetic um, and I think you know I mean I was originally planning before I started, having come you guys pay attention, watch his eyes and you can hear him clicking the eyes, going back and forth.
Speaker 1:He's analyzing, he's comping, he I mean he is. This is dual action right here. Right, he's actively listening to what the seller's talking about, but he's also underwriting this deal. Uh, love seeing that. Uh, there's a layer of confidence that comes along with this action right here. So I really like seeing this from this point of view, seeing his eyes go back and forth while he's taking a look, because, again, she's kind of giving him some idea of the condition, but not like completely, she's not going into specifics. This is like, hey, yeah, it needs a cosmetic update. I mean for us, because we do this all day long, that's pretty much all the information that we need to put down together. A price per square foot on rehab needs.
Speaker 3:Conversations with people about buying the property as an investment. I was planning on putting about another $30,000-ish $25,000 to $30,000 in to finish these cosmetic things. Okay, and then I was going to put it on the market.
Speaker 2:Got it. So you have about $25,000 to $30,000 left to do to make it market-ready, modernized and everything. Did I hear you correctly?
Speaker 3:Well, I don't know about modernized. Okay, it's not a new house. I'm not going to put in a new kitchen, a new bathroom or anything you correctly yeah, yeah, okay.
Speaker 1:So interesting note there she says $25,000 to $30,000, and then he says modernize. And then she used specific things that are vitally important for us to achieve and, after repair, value a new kitchen and a new bathroom. That stands out to me because then I would say, well, what does that mean? I mean because those are important to new buyers and to what the value of the property would be. You rarely hear a seller say something in regards to kitchen and bathroom like that, because those are typically the most important rooms when it comes to updating a property property.
Speaker 3:So I was, you know, I was going to do, uh, uh, I put in a new floor in the downstairs, um, and I was going to paint and I have popcorn ceilings in the upstairs, so I was going to take down the popcorn ceiling and paint. So that's basically what I was planning on doing. So that's basically what I was planning on doing.
Speaker 1:Okay. So going back to when he was underwriting, you can see his eyes shifting back and forth and now that she's going into bullet point specifics on the rehab, he stopped analyzing. Now he's taking notes in regards to the popcorn, ceilings and replacing of the floors. This is important for us when it comes to underwriting the deal. Love seeing how comfortable caesar is right here and in seeing how he's navigating, going from talking to her asking questions, sitting back in silence and listening, underwriting and taking notes. A great movement here by Cesar. Really like how comfortable he is, like flip-flopping between all the different actions a great closer has to take. Got it, got it Okay.
Speaker 2:And then you guys, I'm looking online and there's multiple different information how many bed bath do you have again and what's the score footage?
Speaker 3:Four bed, three baths. Square footage is in the neighborhood of 2,700.
Speaker 2:Yeah, yeah, okay, I'm starting to remember now. Okay, you did mention earlier about the foundation and the sewage. What did you guys have to do, and was that fully fixed or yeah? It was fixed awesome, done, okay, got it, so no problem with that. Um, any problem with the roof, hvac, anything like that at all.
Speaker 3:Almost brand new roof, two years old um and um, and we put in a new concrete driveway a couple years ago as well.
Speaker 2:Oh, nice, okay, Great, great. Just curious, by the way, and I know I had asked this last time we spoke, but once again, you're going through a lot, so do you have any pictures of the property by any chance, like any of the rooms, just so that it can help me better understand the condition of the property.
Speaker 3:Well, I mean, there are photographs online from when I tried to sell the house about 14 years ago. The house about 14 years ago. I put it on the market in 2010 and it was during the recession and I didn't get any light and so I took it off the market. I forget why. I think I wanted a down size, but then we didn't. We stayed here, and so those photographs are pretty good for the condition of the property, with the exception of the downstairs main room, downstairs, which I call it, the family room has a checkered tile floor blue, yellow and what's the third color? Blue, yellow and white, maybe I can't remember right now. Now I don't go downstairs very much anymore, and there was foundation work that had to be done, and so now the foundation work was completed and, uh, so it doesn't look that good anymore. That's why I need to put in a new, a new floor, or that's why it needs a new floor. Oh, it in a new floor, or that's why it needs a new floor.
Speaker 2:Oh, it needs a new floor.
Speaker 3:In terms of the rooms, when the house was not in the middle of packing. It looked like that that you see online.
Speaker 1:So he's doing a really good job of like when the seller says something kind of just repeating what she said to then get her to open up a little bit more, really liking that action by him because he's getting a lot of details here in regards to condition. I think he feels pretty decent about the price because he's really staying right here on condition and trying to get details. That leads me to believe that we're pretty close on price. He's probably putting her in the highly motivated price is right bucket. That's what I'm feeling right now based off these actions. I'm feeling right now, based off these actions and just by repeating in question form, he's getting that seller to open up more.
Speaker 2:Really like that action. Got it, got it Okay, and you were getting cut out a little bit. Can you repeat what needed a new floor? Sorry.
Speaker 3:The downstairs.
Speaker 2:The downstairs? Is that the main floor or the downstairs is a walkout basement. Oh, okay, and it needs a new floor. Got it, got it, okay, okay.
Speaker 1:Showtime.
Speaker 2:Let's see here let's get to it. So just a couple more questions for you, if you don't mind, and then I can definitely give you an offer and see what we can do here In that neighborhood. Obviously I have my numbers on the comparables, but I always like to ask homeowners themselves, because you guys are local. Once we fix that place and modernize it, how much do you think we can sell that on the market for for maximum value?
Speaker 3:I have absolutely no idea.
Speaker 2:Got it.
Speaker 3:I can tell you what houses on my blog have sold for. Yeah, that would be great. About three, two, about three years ago, the house literally across the street from me on my block, sold for half a million.
Speaker 2:Half a million.
Speaker 3:The house down the street from me I don't know again about two or three years ago, sold for like $650. There's one down the street for me that's very modern I mean, it's only 10 years old, as opposed to mine, and that's just sold for $740. But mine is not that modern. It's from the 60s, so it looks like. In that sense it looks like it's from the 60s. So it looks like it's from the 60s. It doesn't have a huge bathroom, anyway. So when I was thinking about putting it on the market myself, I was going to put it on for $490 to be conservative.
Speaker 1:So the reason why you asked that question to a seller is it gives you insight into their thought process behind their asking price.
Speaker 1:This is another reason why we ask for the price early on is one every question from there on is based around us understanding where and how they got that number. And so here he's asking, like, okay, if I were to modernize the house, rehab the house, what could it go for? Because she has an idea, because she's just talking about well, I'm thinking about putting 25 to 30 grand into it and then listing it. Well then, all right, when you put 25 to 30 grand in, how much is it going to sell for? Because if you're willing, it's up 420. Today. You put 30 in, that's 450. I'm assuming that you know it can sell for a lot more than 450, because otherwise there would be no point and you're putting the rehab into it. So this is a great question by caesar and he's doing a really good job of like staying silent and just letting her like kind of give us that insight into her thought process and how she's coming up with these numbers. Mm-hmm, mm-hmm.
Speaker 2:Got it Okay.
Speaker 3:Got it. You can probably get more for it.
Speaker 2:Yeah, all right.
Speaker 3:Anyway, I need to go now very shortly, so do you have any other quick?
Speaker 2:questions. No, I think I've got all the information that I need on here and I know you got to get going. So I guess my question to you is what would make you? I mean, I'd love to make a deal with you, I am interested in the property what can we do to make this happen and get an agreement and then close out? You know, 60 days, 90 days from today, okay, well, no, I mean because you have the other offer and you haven't taken that offer. So I mean, what are you looking? What's the ideal solution for you?
Speaker 1:so I I actually really like that question. It was interesting. He kind of he kind of put that in his back pocket and saved it. Right, she did. She divulged that information earlier on that. Hey, I have this offer for 420. I haven't accepted it. I kind of wanted him to say that earlier, but he saved it for this moment, right here and now. Uh, later on the conversation, what do I need to do? To make this? And I always think it's funny, uh, when someone kind of gives an awkward laugh or basically is saying that was an awkward question, I don't understand. I mean, you're the buyer, make me an offer, right, that's what she kind of said with that laughter. Then he just calls her on it. Well, you have an offer and you haven't accepted. So I'm just trying to figure out what do I need to do to get my offer accepted. I really like that. That was a powerful question by Cesar there.
Speaker 3:Today and tomorrow I probably am, unless you come up with something better.
Speaker 2:Yeah, I got you Okay. Yeah, I mean, at the end of the day, what we do. I'm looking at the numbers. I'm just looking at how much we can sell that property for once we modernize it. Obviously, if we modernize it, it's going to cost a lot more than the 25, 30-ish that you were talking about. But the good news is I am actually. I'm sorry.
Speaker 3:I mean, I don't know.
Speaker 2:Yeah okay whatever yeah. So I mean yeah.
Speaker 1:She's like just get to it, what is your number? I think he's going to say he's pretty damn close to that 420.
Speaker 2:420 looks good for me. I mean the 420 we can do. We'll pay cash, so you don't have to worry about us getting pre-approved. Right, We'll take it as is. We pay all the closing costs, no realtor fee, so you don't have to write a check, right the closing costs. We pay all the closing costs, no realtor fee, so you don't have to write a check, right? I mean, the only thing that's going to come off of your proceeds is if you, if there's any liens or if you owe any back taxes.
Speaker 3:Yeah, yeah, yeah yeah. I now really do have to go. So what I need for you to do is send me in writing what your offer is. A contract in writing. Let me look at it. Let let me read it through. Do you need to come and check the property? Do an inspection on the property to before you make the offer no.
Speaker 2:So what I'll do actually make it easier for you is I'll send the agreement over to you so you can read it over, you can review it and if you want, I can also go, you know, get another call with you, go from top to bottom, explain everything. Once we get yeah, once we get in the agreement, then that's when I will send a few of my guys out there. So you know, contractors, I'll get like a couple of bids. If you don't mind, I'll send a few folks out there will that be?
Speaker 3:will that be, uh, contingent? So you know, like are you gonna say? You know, give me 10 days, and as soon as I get the bids in, and it's been finalized.
Speaker 2:Yeah, it's not so much a contingent. I mean you can look at it that way. We only look for, like, big ticket items, right? So if it's all cosmetic, like you mentioned, um, based on what we discuss, I'm pretty much sending guys out there just to confirm that what you said reflects the condition of the house. Um, if that's the case, then we should be good. If we find something maybe that's not available to our naked eye, then obviously I'll come back to you and let you know and then from there, like we can decide whether we move forward or not. You know what I mean.
Speaker 3:Yeah, okay, I really do have to run what's the best?
Speaker 2:what's the best email address for you, margarita?
Speaker 3:What.
Speaker 2:What's the best email address for you so I can send it to you?
Speaker 3:Oh, okay, I'll have to spell it out for you, sure.
Speaker 1:All right, we're not going to get into that, all right. So my takes off of Cesar's call here. Here one, uh, somewhat of kind of a standoffish uh homeowner you know, feels like she's shopping offers a little bit. I'd be curious to find out if he got this one signed or not. Uh, he did post on his youtube channel so I'm assuming he did. But a little bit standoffish uh, especially with, like, like you know, the I got to get out the phone. She's kind of pressing him there. I thought Cesar did a really good job. There are a few things that I'd like to tweak a little bit there, but overall really solid.
Speaker 1:Call on gathering the information Again, I told you I thought this was Price is Right, highly motivated seller. He's just trying to find a way to beat his competition and it sounds to me like the way she's speaking there at the end he probably did. However, the fear is he sends the contract. They leverage that uh contract, that offer, to then go to the other offer to get them to come up on Bryce. So that's why I don't want to ask Cesar if he got this one under contract or not. But overall, that's part of what's going to happen. I mean, there's always going to be times where someone claims that they're busy, they need to go sit over the offer. Um, it's just part of the game that we we play and, uh, realistically, I thought caesar did a really good job there. I felt like he was extremely comfortable.
Speaker 1:Um, I felt like he did a great job of navigating between underwriting, asking questions, taking notes, uh, and in a short time frame. I mean, how long was that call? That call was, uh, less than 14 minutes. It was 13 minutes and 52 seconds Thought he did a pretty decent job. Was it the greatest call in the world? No, but they don't have to be, and I don't think that there was anything that he did that made that call not the greatest call in the world. I just feel like he did a great job of dealing with the seller. He did that made that call not the greatest call in the world. I just feel like he did a great job of dealing with the seller and the lead that he was dealt with. That was a follow-up call. She already had to go the first time. This is kind of, again, a weird seller and a weird lead, and hopefully he's able to get that one across the finish line. But realistically, I'm pretty proud of what Cesar did there navigating the call. I just like how comfortable he sounds in dealing with that scenario.
Speaker 1:Again, just one of those types of sellers that I don't think anybody, I don't think I could well especially with some of the key closer reacts that have done that I felt were negative. But I don't think. I listened to that call with many other people and I feel like someone does better than what Cesar did there. So overall, cesar brother, I'm proud of you. I know you're a closure because I see you close deals inside of Titanium University, so great job.
Speaker 1:I'm curious to hear from you guys what did you all think about Cesar's call? Leave him a comment, Give him a like. Listen, cesar is new into his journey of creating content. He's probably got about 15, 20 videos on his YouTube channel. Make sure to go subscribe to his channel, cesar LaCosta. Love the fact that inside Titanium University, not only do we preach here at Titanium that we do deals, but now you're seeing people come up within the ranks of the university and inside the community and start creating content content that is lacking in this industry people actually calling sellers and doing deals. Not just preaching it but actually practicing it. Love it, cesar. Great job. Give Cesar a like. Leave me a comment. We'll see you guys next week on. The King Closer Reacts.